Pete Joyce and Jason Johnson of Deloitte shared an informative post about Deloitte’s Surveillance Suite platform, which is a low-code solution for the fund finance market to assist with the digital transformation of lending programs and the complexity in monitoring each facility through its lifecycle. To see this post, click here.
The Goldman Sachs Asset Management team is hiring an analyst in New York to join its Alternative Capital Markets & Strategy (ACMS) Fund Finance team. For more details or to apply, please check out the GS careers site.
In last week’s edition of FFF, we discussed the Revlon case involving an erroneous payment by an administrative agent to the syndicate lenders, which is currently up on appeal before the Second Circuit Court of Appeals. We outlined the district court’s decision in that case, which has been quite unsettling for administrative agents in the syndicated loan market, and discussed how administrative agents have responded: since the ruling came down, it has become market standard for administrative agents to include protective provisions in their credit agreements outlining exactly what would happen and what rights the administrative agent would have in the event it makes an erroneous payment to a lender. And, as the provisions seek to protect the administrative agent, last week we detailed some of the reactions we are seeing from syndicate lenders to the new protective provisions. But the lenders aren’t the only other parties to the credit agreement and aren’t the only ones with something to say about the new provisions. In this week’s installment, we’ll detail some of the feedback we are seeing from borrowers.
Women in Fund Finance this week hosted “Fund Liquidity Solutions,” a virtual event that looked at some of the most innovative liquidity structuring and solutions being employed across the private markets. The panel brought together industry experts who are at the forefront of structuring these solutions and discussed the latest trends in capital raising and how structured liquidity solutions are being used by private markets managers to manage their portfolios.
Women in Fund Finance announced a Networking Boat Cruise event in connection with the Fund Finance Association’s 11th Annual Global Fund Finance Symposium in Miami, Florida. The cruise is scheduled for February 16, 2022 at 12 pm.
Maples Group released its July 2021 edition of FUNDed: An Industry Newsletter for the Global Fund Finance Market this past Tuesday. The newsletter highlights the healthy growth the industry continues to see throughout 2021, as well as new and innovative industry-wide trends, such as increases in ESG initiatives and NAV transactions.
Brickfield Recruitment published another edition of its Careers in Fund Finance Series, this time interviewing Michael Mbayi of Wildgen in Luxembourg. To view the article, click here.
SMBC is hiring an Executive Director for its Subscription Secured Finance group for the Asia Pacific region. For information, click here.
The Revlon case has been in the news for a while and the lending industry has responded, as the district court’s decision is still pending appeal. In this two-part series, we will break down the district court’s decision and the lending industry's response, as well as some of the comments that agents are facing from their lender syndicates. Next week, we will let you know what we are seeing in terms of borrower-side feedback.
Cadwalader's Wes Misson and Katie McShane presented a CLE live webinar with Strafford Webinars on "ESG in Fund Finance" yesterday.