Despite the challenges of 2020, our Fund Finance team at Cadwalader was fortunate to have a good year. We are extremely appreciative of our clients and counterparties. Thank you for entrusting us with your important matters. With the way the final weeks of 2020 break, this will be the last FFF of the year. Thanks so much for all of your contributions to, and support of, FFF. Like many of you, we are ready for 2021.
“That’s just the boilerplate; we can skip over that.” “They commented on the boilerplate; how annoying.” “That just seems like standard legal stuff.” If you have ever drafted, negotiated or even read a legal contract of any kind, you may have had one of these reactions to the text typically found at the back of the contract.
In this episode of Fund Finance Friday: Industry Conversations, Michael Sinclair of People’s United Bank joins Mike Mascia to discuss the fund finance happenings at People’s United as well as current market developments and predictions for 2021.
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Luxembourg law firm Wildgen hosted another webinar in its Fund Finance series this week, which included moderator Michael Mbayi, Richard Braham of Commonwealth Bank of Australia, Sarah Elliot of National Australia Bank Limited, Nick Mitra of Natixis and Julie Thick of J.P. Morgan Chase Bank.
The Fund Finance Association released its inaugural Rising Stars list this morning, recognizing many of the great young people in our industry.
As testament to the growing interest from GPs in portfolio financing this year, Secondaries Investor recently reported that 17Capital saw its strongest-ever pipeline of deals in 2020 and reportedly closed 10 deals worth $1.5 billion (roughly twice the deal value recorded in 2019).
Secondaries Investor recently ran an article that summarized various financing solutions available to funds – namely, capital call facilities, preferred equity solutions and NAV facilities. The article expands on some considerations that should be taken into account when deciding on which of the aforementioned options may be best-suited for the life stage and proposed objectives of the fund.
Long-time Cayman Islands fund finance lawyers Hugh Anderson and Justin Hart were promoted to Partner at Walkers this week. Congratulations, Hugh and Justin!
A couple of short updates as we head into the week that every deal in the market has targeted for closing.
In this episode of Fund Finance Friday: Industry Conversations, Evelyn Zhang of Partners Group joins Cadwalader partner Samantha Hutchinson to discuss how the secondaries market has been impacted by COVID-19.
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