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. |
With a surge in asset-based lending to private equity funds since the start of the pandemic and a historic run of IPO fundraising, it is not surprising that we are increasingly seeing post-IPO shares being pledged as collateral in support of asset-based loans. While private equity funds often invest in companies with the goal of later taking those companies public, the occurrence of the initial public offering doesn’t necessarily lead to the immediate divestment of a fund’s investment in that company.
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I was so happy to see Conyers Dill & Pearman announce this week that Michael O’Connor has been elevated to Partner. I’m always happy to see fund finance professionals get promoted; for too long, it felt like those of us in fund finance were a little underappreciated compared to professionals in more long-standing and higher profile sectors like leveraged finance. But that is clearly changing: LinkedIn has been overflowing with fund finance promotion announcements over the last year, which is awesome. But Michael’s elevation, from my vantage point, is a little different. |
Private Debt Investor provided a May 2021 Talking Points report with Ryan Crowell and Yuriy Shterk of Allvue Systems. The conversation highlights that the strong performance and increased demand for Fund Finance products during the pandemic is continuing as the pandemic subsides.
New Private Markets published an article this week that highlighted the ESG-linked credit line to AlpInvest, a subsidiary of Carlyle. The article briefly outlines some of the KPIs included to measure the performance of the fund as well as some of the consequences of not meeting them.
Sarah Lobbardi of Avardi Partners provided the guest column in this month’s The Drawdown magazine. The column is on page 34, and the subscription-required magazine is available here.
Private Equity International published an article this week outlining the views of Ian Brown, the head of private markets at LGPS (one of the UK’s largest public pension funds).