PitchBook recently detailed the criticisms of private fund allocations and realized performance that have been leveled at Pennsylvania Public School Employees’ Retirement System and at the State Teachers Retirement System of Ohio.
Cadwalader’s Fund Finance Team has been shortlisted for The Drawdown Awards 2021, named as a finalist in the “Fund Financing: Advisory Services” category. The winners will be announced at an awards ceremony on September 23 in London.
The Goldman Sachs Asset Management team in New York is hiring an analyst to join its Alternative Capital Markets & Strategy (ACMS) Fund Finance team.
Morgan Stanley Private Bank is hiring for a Vice President - Wealth Management Risk - Credit Underwriter in its Capital Call Subscription Financing group.
Blocker entities are a common part of private equity fund structures. In many cases, blockers are used to insulate foreign and tax-exempt investors from direct tax liability in the fund’s home jurisdiction. Blockers are generally intermediate entities that receive capital contributions from a feeder fund and then contribute those funds to a master fund. While blockers may be one of several intermediate entities between a feeder fund and a master fund or an aggregator vehicle, for simplicity this article assumes that the blocker is the only entity between a feeder fund and a master fund.
In this week’s FFF: Industry Conversations, Mike Mascia sits down with Cadwalader partner Jed Miller to discuss capital relief trades (CRTs) for banks in the context of subscription facilities.
The FFA’s Women in Fund Finance group has announced several upcoming virtual events. WFF U.S. will host an event titled “ESG Series III: Financing Green/Blue Infrastructure” on July 14 from 11 a.m.-12:15 p.m. EDT. WFF Global also announced a panel on “Fund Liquidity Solutions” for July 21 at 3 p.m. BST. The panel, to be moderated by Cadwalader's Samantha Hutchinson, will focus on structuring alternative liquidity solutions for private markets managers.
Citibank’s Sponsor Finance team is hiring for two open positions: a junior Sponsor Finance Specialist and an Analyst.
As part of its “ESG Talks” podcast series, KBRA hosted a podcast, “FUNDing Positive ESG Impact: ESG Developments in Fund Finance,” featuring KBRA's William Cox and Cadwalader's Wes Misson and Katie McShane, in which they discussed all things ESG-related.
The Diversity in Fund Finance group hosted the second Boundary Breakers speaker series event this week, featuring a discussion with Värde Partners on the endless battle for diversity. This conversation, moderated by Alex Woodcock, a Partner at Mourant, was with Värde Partners' Marcia Page, Co-Founder and Executive Chair, and Kirsten Voss, Senior Managing Director. Marcia and Kirsten shared their reflections on the continued journey that Värde has gone through that has resulted in the firm more than doubling the number of diverse investment professionals over the last 6 years. However, the message was clear that there is still so much work to do – and why every organization’s efforts remain a journey. Here are some key lessons and takeaways from the conversation.
Wildgen announced the next webinar in its fund finance series: a “Next Generation Edition” with young professional panelists and a focus on umbrella facilities. For more information and to register, click here.