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Pretika Randhawa has recently joined JPMorgan Chase Bank, N.A. as Executive Director of its Subscription Lending Platform in the Commercial Real Estate group, based in its New York office. Prior to joining JPMorgan, Pretika was a Director with Sumitomo Mitsui Banking Corporation in its Subscription Secured Finance Department. |
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Storey Whalen has recently joined the growing Private Equity Finance team at First Republic as a Director based in New York. Storey joins Scott Aleali, Jeff Maier, and Alexa Schult to grow the First Republic Private Equity Finance portfolio, with a particular focus on capital call facilities, management company lending, and GP financing, as well as being a holistic retail banking partner for private equity principals. |
Appleby has published an article revisiting highlights and identifying key takeaways from last month's Global Fund Finance Symposium.
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Steve Bleiberg has joined Cadwalader’s Fund Finance practice as an associate in our New York office. Steve joins from Morrison & Foerster, where he represented lenders and borrowers in a wide range of financial transactions, including subscription credit facilities, syndicated bank financings, middle market private credit transactions and structured commodity financing transactions. |
Here's a look at what we're reading outside the four corners of fund finance.
The Fund Finance industry returned from the Miami conference to the most volatile two-week period since the financial crisis. With the coronavirus slowly spreading, the equities markets swinging wildly, Joe Biden surging in South Carolina and on Super Tuesday, Mike Bloomberg and Elizabeth Warren suspending their campaigns, and the Fed implementing an emergency 50 basis point rate cut (whew!), there has been a lot to keep up with. With this backdrop, I have closely reviewed our business metrics and connected with a number of industry leaders this week to try and identify any potential impacts for the fund finance markets. Below are my observations.
As with many other corporate or financial transactions between two or more parties, and especially given the relationship-nature of subscription finance lending, provisions in legal documentation often get replicated from one transaction to the next, including errors and inconsistencies as a result of the fast-paced world in which practitioners find themselves or, in some cases, a failure to connect the dots.
This is the first in a series of articles that will look at fund financing trends and issues in key offshore jurisdictions. In this article, we speak with Julia Keppe and Simon Felton at Ogier (Jersey) about what they are seeing in the Channel Islands and, more specifically, Jersey.
Mourant has published an article articulating overarching takeaways from the Global Fund Finance Symposium held last month.
Two in-depth reports recently published expanded on the remarkable capital-raising environment while pointing to the challenges posed by high valuations, the growing stock of committed but uninvested capital and the potential for a more difficult investment environment. Here’s what stood out to us from the McKinsey and Bain reports.
Scott Aleali of First Republic Bank this week published the first of a two-part article on LinkedIn titled “NAV Facilities: A Portfolio Management Solution for a PE Fund’s Sunset Years.”