Since virtually the first subscription facility, borrowers have requested the right to issue the first capital call to investors in an event of default. While this post-default call right and a subsequent lender standstill period are relatively common, credit agreements should be clear on the rights and remedies a lender intends to preserve during the standstill.

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After market concerns about product and sponsor limits at banks, panelists at the Cadwalader Finance Forum forecasted robust growth for the subscription facility market in 2019.

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A Signature Bank announcement highlighted the build-out of its Fund Banking Division.

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Lenders continue to look to add to their fund finance staffing.

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