It hasn’t been boring – the first five months of 2019, that is. Financial markets are grappling with some rather unquantifiable risks as it relates to U.S.-China trade negotiations. On the private side, a couple of large public listings showed that public markets are more than willing to be more critical in setting valuations than private investors. Capital formation in the funds space maintained the prior-year pace. From our vantage, the fund finance business continues to thrive. We pause this week to summarize recent reflections on the market from the partners at Cadwalader.
Cadwalader is holding its inaugural Fund Finance Review in the UK in our London office on June 5. Partners Jeremy Cross and Samantha Hutchinson will be joined by Coller Capital’s Mark Hindriks to provide a market overview and discuss best practices in fund finance following recent developments.
Brickfield Recruitment, the placement agency firm focused exclusively on the fund finance industry, has announced that it is conducting an independent canvas of sector-wide compensation, benefits and resourcing needs for fund finance banking professionals.
State Street has launched a search for a department head to lead the bank’s Alternatives Lending group; and the Cadwalader New York office seeks an associate to join its New York Fund Finance practice.
Here are updates to our Fund Finance Calendar.
We can pack in some serious substance on a Friday (not necessarily everyone’s peak time for absorbing a nuanced discussion on complex financial products). Here’s a recap of original substantive pieces from recent issues for easy reference.
Given the popularity of side letters in fund finance transactions today, we thought it would be useful to highlight frequent issues that arise and that are important for lenders to look out for.
The New York chapter of FFA Next Gen recently presented a panel discussion and networking event in New York City focused on the Fund Finance market generally and what it takes to develop a successful career in Fund Finance.
Women in Fund Finance (WFF) recently hosted an evening of modern art, networking and cocktails at the DTR Modern Gallery in the Soho neighborhood of Manhattan. The event provided an opportunity for WFF members and other members of the fund finance community to meet and mingle with two inspiring female artists, Sandra Muss and Jane Manus.
Debevoise & Plimpton recently published its Spring 2019 issue of The Private Equity Report. This issue included an article on the key takeaways from the NAV and Hybrid Facilities Panel at the Global Fund Finance Symposium this past March.