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Banks

Ocorian’s Nordic Trustee comes to the UK

Anatoly Sorin will head the London team

Hazeltree adds remote access to treasury platform

Other product updates include the addition of a mobile transaction approver application

Investec expands GP advisory practice

Asante Capital’s Oliver Altendorf, Harbourvest’s Christoph Schwarz and Credit Suisse’s Emilia Korobowicz join advisory lead Stefano Manna

The Third Party

The borrowers and lenders of fund finance have credit rating company…

LISTEN: Top of the ops: Is the grass evergreener?

A conversation with Eurazeo's Luc Maruenda on setting up evergreen fund structures

Sweet sorrow

The alluring attraction of semi-liquid strategies brings with it a cautionary 
tale of liquidity (mis)management

Morningstar partners with iCapital

Advisor Workstation will be topped up with access to alternative assets, educational resources, reporting services and portfolio construction support

Bridge expands to the US

Fund finance marketplace aims to connect borrowers and lenders, and assist private market participants with completing capital call facilities

Dear Irish AIFMs…

After the Central Bank of Ireland’s review of asset valuation processes, Irish AIFMs must make sure their governance models are up to scratch before the end of Q2 2024

UK regulators consult on the operational resilience of critical third parties

FCA, PRA and Bank of England welcome feedback on the proposed framework deeming certain third-party organisations as ‘critical’, to reduce any associated systemic risks to the financial services industry

Alter Domus launches ELTIF fund admin service

The added functionality supports the administration of private market open-ended funds and includes liquidity management support

Operational utopia

If operations professionals made all the decisions, what would the perfect PE firm look like?

Houlihan Lokey acquires Triago

Triago’s fundraising services to be integrated into Houlihan Lokey’s private funds group

5 minutes with… Jan-Moritz Hohn, Leverest

The CEO and founder strolls with us across the company’s digital marketplace for lenders, and discusses due diligence processes and the impact of Basel III

Depo mode

Do depositary services add value to PE firms?

5 minutes with… Stephanie Miller, CEO of Hazeltree

The Drawdown sits down with the new CEO of treasury and liquidity management services company Hazeltree to discuss its next strategic phase

Raiffeisen Bank International makes fund finance appointment

George Phillips joins as a director after more than three years at BNP Paribas

BoE to assess risks of AI in financial services

The bank has plans to review what it sees as systemic threats the technology poses to the financial industry

AllianceBernstein launches NAV lending strategy

Barclays managing director Dupe Adeyemo and Hark Capital’s Sara Casey join the investment manager to lead the platform

MUFG IS anchors in Malaysia

New office to provide full-service offering across fund accounting, administration and asset servicing

Trigger warning

As valuations come under greater scrutiny, GPs must carefully consider the triggers for valuation challenges under the terms of their NAV facilities

Must NAVs

The benefits and risks of NAV financing in a liquidity drought

Alpha Group appoints head of lender engagement

Ex-NatWest Markets, Benjamin James, to head up company’s lender relationships and oversee product development

Investec launches GP advisory practice

Formerly with Eaton Partners, Stefano Manna is to head up the team

Raising the Liechtenstein flag

LGT’s Julien Ward and Bjoern Kogler explain the unique advantages of domiciling in Liechtenstein

UK fund managers find manual processes biggest FX operational challenge

MilltechFX’s survey found UK GPs are investigating ways to automate FX processes to remove the manual burden

Moonfare partners with Quintet

Digital private markets platform aimed at individual investors will be made available to HNWI clients of the Luxembourg private bank

Investec expands fund finance offering to US

Bank has opened New York office and appointed Olivia Deroy as manager for origination and relationship management in the US

DORA the implementer

Following ESA’s public consultation, The Drawdown takes a closer look at the impending regulatory technical standards

Paloma Capital signs fund finance facility with OakNorth

The PE real estate investor has secured a £45m revolving credit facility

Alpha acquires Cobase

FX solutions provider set to acquire 85% of the multibank connectivity platform, subject to approval from the Netherlands’ central bank

Onboarding liquidity providers biggest FX operational challenge

MillTechFX’s latest report lays out the biggest operational obstacles when it comes to FX hedging

For FX’s sake! How not to manage FX

As heightened volatility continues to push FX up the agenda for private capital funds, we explore some of the common pitfalls managers have been facing.

BNP Paribas acquires Kantox

The acquisition will expand the firm’s FX workflow services

MUFG IS expands banking solutions

Adil Rehman has been appointed managing director, global head of payments and liquidity, to lead the development of global payment and cash management services

5 minutes with… Stephen Roseman, 1970 Group

We chat with the founder and CEO about how the company frees up firms’ balance sheets from insurance collateral and in doing so boosts liquidity for corporations

What HSBC Innovation Banking launch means for fund finance

The Drawdown speaks to Gavin Rees, head of global fund banking at the newly launched HSBC Innovation Banking, about what the acquisition of SVB UK means for the fund finance market

Consort1 opens up repo market to GPs

Secured deposit service provider has made strategic partnerships with banks and financial services companies to help securely collateralise cash deposits

The Drawdown Awards 2023: Winners announced

Congratulations to all of the winners of The Drawdown Awards 2023

Deep dive on Alpha’s fund finance solution

Following the recent announcement of Alpha Group’s new fund finance solution, we sit down with Sam Marsh, MD institutional, and Adam Heaysman, who is heading up the new offering, to find out more

Is retailisation a misnomer?

Many hurdles remain around expanding private funds to the retail investor. We unpicked the main concerns raised by GPs and what the current definition of ‘retailisation’ actually means

Lloyds Bank appoints head of financial sponsors syndicate

William A. Lamain joins from Raiffeisen Bank

J.P. Morgan acquires Aumni

Bank aims to build out private markets platform with acquisition

WATCH: Liquidity strategies in a high interest rate environment

Our recent webinar discussion, exploring liquidity management and counterparty risk

Apex acquires Efficient Group

Apex aims to expand its footprint in South Africa

SVB downfall: everything you need to know, including support and solutions

HSBC has acquired the UK bank, taking on its £5.5bn loan book and £6.7bn in deposits

SVB woes: what does it mean for fund finance?

Given SVB’s exposure to the private capital fund space, many in the market are understandably concerned about what this latest announcement will mean for them

Eurazeo partners with Moonfare

Eurazeo aims to use Moonfare’s digital platform to expand fund distribution to wealth managers across Europe

Next level

As the game gets harder, fund finance needs to level up

MassMutual direct lending arms transition to Barings

The transition of MassMutual’s Direct Private Investments (DPI), and MassMutual Asset Finance (MMAF) aims to expand investment solutions for institutional investors

KBRA reports relative resilience for 2023

Rating agency highlights stability in the private equity and credit sectors

RBS International appoints CRO

Wendy Phillis joins from Link Group

GenTwo partners with Apex’s EDB

The partnership aims to facilitate banking services for institutional investors

Comment: The world has changed - how are lenders and markets reacting?

With great challenge comes great opportunity, writes Mohith Sondhi, senior director – debt finance at OakNorth Bank

PE firms under pressure to outsource

There has been a significant increase in enquiries from PE firms looking to outsource since last year, Ocorian reports

Data analytics should be top priority for service providers

EY believes off the shelf solutions will no longer work to achieve GPs’ data requirements

Apex rolls out EDB digital banking platform

Clients can open multi-currency accounts and manage day-to-day transactions through automated market money sweeps from a single dashboard

Champions league

The Drawdown Awards recognise the very best in private equity operations, awarding outstanding service provision and operational leaders.

BOE interest rate hike to impact valuations

“I think we can expect to see the interest rate hike exert some downwards pressure on valuations, though how much is difficult to forecast given the broader market conditions.”

Capital calls hit 10-year low

Reduction in the frequency of drawdowns driven by increased use of subscription lines