Walkers has published a video, “WalkersGo: Cayman is King for Private Equity,” that reviews some of the key reasons that have established the Cayman Islands as a premier jurisdiction for PE funds formation.
Wells Fargo is looking to add an Associate to its Subscription Finance team, resident in New York, Charlotte or Los Angeles.
Cadwalader is looking to hire an experienced finance associate (3-4 years PQE) in its Fund Finance group in the London office.
In a prior article, we highlighted common issues contained in side letters that are concerning to Lenders. Whenever a problematic side letter provision is included, a Lender is faced with either excluding the applicable investor from the calculation of the borrowing base or developing a workaround to allow the Fund to keep its contractual arrangement with the investor in the side letter intact while also protecting the Lender’s interest.
The record SPAC IPO activity from 2020 has continued into 2021, and this white-hot market continues to set records. So far this year, 311 SPACs have raised over $100 billion in gross proceeds, surpassing 2020’s electrifying performance with 248 SPACs that raised over $83 billion in gross proceeds – a far cry from 2019 when 59 SPACs raised about $13.6 billion in gross proceeds. This week, members of Women in Fund Finance (WFF) were invited to attend a virtual event hosted by C200 titled “Unpacking the SPAC: Everything You Need to Know But Are Afraid to Ask.” This powerhouse panel featured WFF Co-Chair Dee Dee Sklar, who wears many hats, including as a board member of SPAC Kernel Group Holdings.
New to fund finance or know someone who is? Here’s a guide to primers we’ve previously published in Fund Finance Friday.
Cadwalader advised Investec on a €1bn secured note programme backed by subscription credit facilities with one of the UK’s largest insurers. The transaction, one of the first in this new product area for the London market, will enable the insurer to take advantage of an opportunity to participate in an attractive investment-grade rating product in a current environment of low yields from high-quality credit, rated A and better.
Shiraz Allidina of Citco Capital Solutions Inc. provides some guidance for fund finance lenders when evaluating the constellation of service providers − attorneys, auditors and fund administrators − retained by a fund or its manager, as part of due diligence procedures to safeguard against unknown risks. Read the article here.
In its latest article updating the fund finance community on recruitment trends, Brickfield Recruitment talks to Simon Raftopoulos at Appleby in the Cayman Islands about potential changes to national law that will impact how non-Cayman legal associates will be able to practice there.
Investec Bank is looking to hire a full-time Solicitor and a mid-level Solicitor as maternity cover to join the UK Legal Team, primarily supporting the Fund Solutions team at Investec Bank.
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Stifel Venture and Fund Banking recently appointed Charlie Smith as a Managing Director and Head of Fund Banking for the Western U.S. Stifel’s Fund Banking group assists sponsors across all asset classes with financing such as subscription finance, management company lending, and GP capital commitment finance. |
