The Diversity in Fund Finance group hosted its first virtual open happy hour session on Tuesday. After three years of primarily focusing on one of our goals – to educate and connect with students addressing the lack of a diverse pipeline in our industry – we were excited to kick off our efforts in building an affinity network to engage with the broader FFA community. About 30 members of various backgrounds attended, sharing feedback on things organizations are doing well, some changes that organizations are implementing, and things they would like to see happen. Following are some key takeaways from our session.
The Fund Finance Association and its Next Gen Network this week announced and requested nominations for the “Rising Stars” Awards. Award recipients should have less than 10 years of fund finance experience and will be selected based on their outstanding overall contributions to the Fund Finance industry, their firms and their clients, the FFA, the Next Gen Network and/or WFF, with an emphasis on professional contributions focused on excellence in client service, product and service innovations, diversity and inclusion, career development, training and mentoring, networking and community service. Nominations are due November 20, 2020.
The U.S. chapter of FFA Next Gen, in partnership with Clifford Chance, held its first virtual panel session earlier this week titled “‘New Normal’ in New York Real Estate.” Attendees heard from expert panelists, including Ronald Dickerman, Madison International Realty; David Toledano, Mizuho Securities; and Jeanne Roig-Irwin, Clifford Chance Real Estate Team, and the session was moderated by Leah Edelboim, Clifford Chance Banking and Finance/Fund Finance Team. Following are some key takeaways.
Scott Aleali and Jeff Maier produced another edition of “Fund Fanatics” on LinkedIn last week, featuring a guest appearance by Matthew Barbato of Hamilton Lane.
Private Equity International published an article titled “NAV facilities’ potential in emerging markets.” The article explores the benefits NAV facilities provide for funds in emerging markets. It also highlights risks particular for these facilities, such as exposure to local currency and financial covenants.
Tune back in to “ESG Fund Finance,” the fourth session of Wildgen’s Fund Finance Webinar Series hosted by Michael Mbayi. Michael is joined by industry leaders Vicky Du (Standard Chartered), Guillaume Ferrer (Credit Agricole CIB), Jonathan Harvey (Investec), and Katie McMenamin (Travers Smith) as they discuss ESG-linked subscription credit facilities and other ESG-focused fund finance solutions.
First Republic Bank is looking for an experienced Credit Analyst or Senior Credit Analyst to join the Private Equity Finance team in New York.
Despite all the October uncertainty around a stimulus package, the elections and a vaccine, Fund Finance continued its steady consistency into the 4th Quarter. Below are our recent transaction observations as well as our updates on the market more broadly.
In this week’s Fund Finance Friday: Industry Conversations, Sammy Asoli, the newly minted Global Head of Subscription Secured Finance at SMBC, joins Mike Mascia and discusses his new role, virtual leadership, what they are seeing in the market, predictions for 2021 and taking garden leave during a global pandemic.
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Mourant this week published an article on the requirement under Cayman Islands law to give notice to the Limited Partners to perfect security in uncalled capital. The article discusses the legal requirements for the notice, market practice, and comparisons with Guernsey and Jersey.