Previous Fund Finance Friday articles have looked at due diligence and structuring considerations with respect to GP and co-invest facilities. This article builds on those topics to look at how financial covenants are generally structured in the context of a GP facility in Europe.
In this week’s Fund Finance Friday: Industry Conversations, Barings’ Sabih Hussain joins Samantha Hutchinson to provide his take on the impact of COVID on the private credit markets and his experience of using fund finance products through the pandemic.
Click “Read More” to listen!
Professor | Conservatoire National des Arts et Métiers (CNAM)
Why are funds and lenders considering and using Environmental, Social, and Corporate Governance (ESG) and Green Loan principles in financing? Investors are increasingly demanding greater transparency about how their money is invested, and ESG is seen as a value-generating component and a new growth driver for asset managers. Although investors are not usually directly involved in the General Partner investment decisions (for legal and operational reasons), they have considerable influence on the overall investment policy of the fund and the context in which the decisions are taken through the setup of the fund.
Join Women in Fund Finance on Tuesday, November 10 for a conversation with Jill Lampert (NGP), Alexandra Pruner (Tudor, Pickering, Holt & Co; Independent Board Director: Plains All American; NRG Energy; and Encino Acquisition Partners), and Staci Taruscio (Rebellion Energy, LLC). The speakers will provide an update on the energy market and the impact of COVID-19, and will address the energy industry talent pipeline and board service. This virtual conversation will be moderated by Erin England (Katten Muchin Rosenman LLP).
As we announced in last week’s FFF, Bill Ackman, the CEO and Portfolio Manager of Pershing Square Capital Management, L.P., will give the keynote address at this year’s Finance Forum. This year's event will also once again feature live panel sessions with finance industry leaders, including two panels of particular interest to FFF readers.
|
|
Rushika Athia of First Republic Bank has been promoted from Senior Credit Analyst to Director. Rushika joined First Republic in 2018 and hit the ground running with the NY PE Finance Team. |
|
|
Jack Chaplin has joined Deloitte’s Debt & Capital Advisory team as an Assistant Director, with a specific focus on building out the Fund Finance advisory business alongside Jamie Mehmood and Ben James. |
Cadwalader is looking to hire a senior and a mid-level associate in its Fund Finance group in the Charlotte or New York office.
Today marks the 100th edition of Fund Finance Friday.
Round numbers are cool. And I have never shied away from celebrating the little milestones or, for that matter, celebrating Fridays (or Tuesdays). When we started FFF around two years ago, it was born out of a combination of frustration and fun. I was frustrated with how the press covered fund finance (um, well, that hasn’t completely changed) and around how there wasn’t a resource you could check out to keep informed about our industry. The PE folks had dozens of daily (sometimes annoyingly frequent) newsletters, the securitization folks read Asset-Backed Alert, and my team had, well, nothing? I sorta think fund finance isn’t nothing. I mean, we do things, sometimes anyway, right? We needed a resource.
In this week’s Fund Finance Friday: Industry Conversations, Jeff Maier joins Mike Mascia and discusses demand and deal structures for management fee lines and GP facilities.
Click "Read More" to watch!
|
|
Bill Ackman, the CEO and Portfolio Manager of Pershing Square Capital Management, L.P., will give the keynote address at this year’s Finance Forum. Ackman is also the Chairman and CEO of Pershing Square Tontine Holdings, Ltd., a newly organized SPAC that raised $4 billion in its initial public offering in July, making it the largest SPAC IPO in history. The Finance Forum takes place virtually on the afternoon of November 12th. |
