Fund finance: structural innovations
With capital call facilities now understood to be at 98% of market coverage, these products have largely harmonised in terms of fees and margins applied. Where traditional banks can offer a level of differentiation is on the ancillary products offered alongside subscription lines, such as fund administration services, custodian or FX offerings.
However, Investec has found a unique point of differentiation in how these loans are structured - through its master facility agreement (MFA).
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