In the subscription finance space, the secured party’s security interest in the right to make, issue, and enforce capital calls on the borrower’s investors and to receive the resulting capital contributions is governed by Article 9 of the Uniform Commercial Code (the “UCC”) and is perfected by the filing of a UCC-1 financing statement in the applicable jurisdiction(s).
Real Deals published an article earlier this week focusing on preferred equity structures with a case study on the recent EUR105m Palamon/Pomona transaction in Europe, which was supported by leverage from Investec.
PitchBook released its quarterly middle market report last week. While deal flow maintained a robust pace in Q2, fundraising is decelerating for middle market funds.
Earlier this week, Ropes & Gray released a podcast episode titled “Fund Subscription Facilities: Key Considerations for Limited Partners,” in which asset management partner Isabel Dische and finance partner Patricia Lynch discuss the use of capital call facilities by private investment funds.
Scott Aleali of First Republic Bank published an article on LinkedIn last week, titled "Best Practices for Ensuring GP & LP Alignment When Subscription Credit Facilities Are a Factor."
Stuart McIntosh has joined SMBC Europe.
James Beck recently joined Standard Chartered Bank as an Associate Director on the Loan Syndications team covering fund financing as well as CRE and leverage finance.
North Carolina Attorney General Josh Stein will offer the keynote address at Cadwalader's fourth annual Finance Forum in Charlotte, North Carolina on October 17.
Standard Chartered is seeking a Director of Fund Finance for its Financial & Strategic Investors Group.
The Charlotte office of Cadwalader is seeking an associate for its Fund Finance practice.
Here are updates to our Fund Finance Calendar.
Media coverage worldwide of the recent protests in Hong Kong has told a story of civil unrest and occasionally violent tension between protestors and the police (in their own right and as a proxy for the government). But the vast majority of protests and protesters have been peaceful, and Hong Kong's day-to-day life carries on with remarkable continuity. In light of this, the Fund Finance Association will be pressing ahead with its 3rd annual Asia-Pacific Fund Finance Symposium in Hong Kong next week.