Fund finance
22 June 2022
LP appetite for PE suffers sharp decline
The Rede Liquidity Index score has decreased from 70 in 2021 to 55 for H1 2022 signalling a sharp fall in LP investor appetite.
20 June 2022
Failure rate for GP-leds exceeds 50%
The uptake in GP-led strategies have continued to rise despite a significantly high failure rate - - said panellists at SuperReturn
8 June 2022
Cinven secures €4bn ESG-linked sub line
The sustainability linked loan will support portfolio company ESG initiatives
1 June 2022
Capital calls hit 10-year low
Reduction in the frequency of drawdowns driven by increased use of subscription lines
31 May 2022
Campbell Lutyens bolsters GP capital advisory offering
The practice has made three new hires; Edouard Chu, Allone Taieb and Linh Nguyen
30 May 2022
Fund finance tracker: 2nd edition
The latest instalment of the Fund Finance Tracker found tightening of NAV loan amounts and increased activity for GP facilities
18 May 2022
Comment: Fund forecast
Mohith Sondhi of OakNorth Bank shares his top predictions as macroeconomic challenges intensify
13 May 2022
17Capital promotes Shahin to partner
General counsel Emad Shahin has been at the firm since 2019
12 May 2022
Profile: Susan Wilkins, Actis
The COO discusses her pathway from Actis portfolio company to the GP, taking over management of Abraaj funds and her role as a member of the inclusion & diversity committee
28 April 2022
Circularity secures first ESG-linked facility
The firm has put a fund finance facility in place to provide more flexibility for future investment processes
7 April 2022
Pemberton launches NAV offering
The lender has hired 17Capital’s Thomas Doyle to lead its new NAV financing strategy
30 March 2022
Nominations open for the Most Influential Fund Finance Experts
The Drawdown is launching a new report, celebrating the most influential players in the fund finance market - nominations are now open
18 March 2022
5 minutes with… Birchstone Markets
We caught up with Devonshi Mody and James Arnold of Birchstone to find out about their connected treasury offering.
11 March 2022
5 minutes with… Derivative Path
Brett Morrell & Ciccy Yang discuss how the technology-focused business supports private equity risk management
9 March 2022
Fund finance: structural innovations
Investec’s Helen Griffiths and Oliver Bartholomew discuss key structural developments for capital call facilities, including cost savings awarded by the master facility agreement, the importance of GP credit ratings, and continuation vehicle solutions.
7 March 2022
A new asset class arrives
At the recent Fund Finance Association Symposium, held in Miami last month, it's clear that this market is no longer a subset of the private funds industry, but rather a burgeoning asset class in its own right
12 January 2022
Crestline closes sophomore portfolio financing fund
$1bn fund focuses on fund finance including NAV loans and preferred equity
6 January 2022
Pressure point
The explosive growth of the fund finance market has hugely benefited the private capital fund industry. But with banks straining to keep up with growing demand, where next for capital call facilities?
9 December 2021
Triton secures €1.455bn ESG-linked fund facility
New facility is earmarked for speeding up ESG efforts in Triton V, a €5.2bn fund closed in 2018
3 December 2021
5 minutes with… No Limit Capital
Co-founders of No Limit Capital, Neno Raic and Slade Spalding, discuss why they set up the fund finance lender and what makes them different from traditional banks
16 November 2021
Out of the deep freeze and into the sun
Fokke Lucas of 17Capital discusses the merits of single asset portfolio finance for companies impacted by the pandemic
10 November 2021
5 minutes with… Rory Smith, Brickfield
Founder of Brickfield Recruitment, Rory Smith, discusses his journey into fund finance and why it’s such a special market to work in
18 October 2021
Introducing the Fund Finance Tracker
Shining a light on subscription lines, NAV facilities and GP finance, to provide insights on how a selection of lenders approach these loans
13 October 2021
LPs paying more for administrative costs
25% of LPs are being charged separately for expenses such as in-house legal, accounting and computer software
7 October 2021
Former Investec execs launch fund finance provider NLC
Neno Raic and Slade Spalding, who worked together at Investec Bank’s Funds Solution Group aim to revolutionise capital call financing
4 October 2021
P10 acquires Hark and Bonaccord
P10 is made up of RCP Advisors, TrueBridge Capital Partners, Five Points Capital, and Enhanced Capital
24 September 2021
The Drawdown Awards 2021: Winners announced
Congratulations to the winners of our recent 2021 Drawdown Awards
7 September 2021
Carlyle secures €2.3bn ESG-linked facility
Revolving credit facility is linked to boosting board diversity, tackling climate change and ESG-competent training
27 July 2021
ICG secures €1.45bn ESG-linked sub-line
Facility was provided by Standard Chartered Bank, BNP Paribas, ANZ Banking Group, ING Bank, and Royal Bank of Canada
26 July 2021
Comment: Navigating through the storm: An evolution in fund finance
Leon Stephenson and Colin Baker of Reed Smith outline the various uses and advantages of NAV facilities
12 July 2021
17Capital closes fifth fund on $2.9bn
The GP has raised $4.5bn in total for preferred equity portfolio financing
8 July 2021
The Drawdown Awards 2021: Finalists Announced
Thank you to everyone who entered, and a massive congratulations to all those that made the shortlist
7 July 2021
Aliante secures €160m preferred equity
“The Aliante Equity 3 preferred equity transaction is a unique and complex GP-led secondary that reflects the growing adoption of preferred equity for liquidity and add-ons”
15 June 2021
17Capital finances Investcorp assets
The $200m portfolio financing provides 17Capital with exposure to a diverse set of assets
15 June 2021
Investec’s Mansy joins Macquarie
Investec is winding down its operations in Australia to focus on the UK and South Africa
10 June 2021
Comment: ESG and fund finance
Michael Mbayi of Wildgen and Thomas Hallett of Barclays explore how funds can embrace ESG fund finance solutions
26 May 2021
Cadwalader’s Cross joins Addleshaw Goddard
Cross joins from Cadwalader, Wickersham & Taft where he was part of setting up the law firm’s fund finance practice in Europe
20 May 2021
Comment: ESG fund financing trends
Sarah Lobbardi of Avardi Partners details the latest trends around ESG-linked fund finance
10 May 2021
AlpInvest secures ESG-linked sub-line
ABN AMRO arranged the facility while Rabobank acted as sustainability co-ordinator
19 April 2021
5 minutes with… Charlie Jolly, RSM
The head of private equity discusses how RSM supports GP fund restructurings; the importance of valuations, and the latest innovations within the process
19 April 2021
Comment: Everything you need to know about preferred equity waterfalls
Ben Yeoh from Goodwin provides a succinct overview of how preferred equity waterfalls work
22 March 2021
Fund Finance Provider award winner: Raiffeisen Bank International
RBI's William Lamain explains why being one step ahead is vital in the competitive fund finance space
18 March 2021
Fund Finance Advisor award winner: Cadwalader Wickersham & Taft
Cadwalader's Samantha Hutchinson has built a diverse team with a unique culture, enabling a more well-rounded client experience
1 March 2021
The Perfect Match: Finding the ideal fund finance solution partner
OakNorth's Mohith Sondhi details a recent subscription line facility placed with private equity firm Bluegem
22 February 2021
Failure to launch
Designed to increase the flow of retail capital into long term funds, ELTIFs have had few takers, but could a renewed focus from the European Commission see these structures gain popularity?
21 January 2021
Private Equity Service Provider Awards: Winners announced
Winners of the Private Equity Service Provider Awards revealed
18 January 2021
Comment: NAV facilities: Talk turns to action
While there has been lots of discussion around NAV facilities from buyout private equity managers, transaction numbers are lower than expected, writes Sarah Lobbardi of Avardi Partners
21 December 2020
WATCH: Perfect match: finding the ideal fund finance solution
Mohith Sondhi of OakNorth Bank and Emilio Di Spiezio Sardo of Bluegem Capital Partners discuss a how a recent subscription line facility was put in place
14 December 2020
Class of 2020
A cross-section of industry practitioners share their greatest lessons of this year
10 December 2020
2020 in review: Fund finance goes mainstream
A look back at fund finance and all its various iterations throughout 2020
30 November 2020
5 minutes with…Doug Cruikshank, Head of Fund Financing and Hark Capital at Aberdeen Standard Investments
Hark Capital’s Cruikshank discusses the evolution of the NAV facilities market, and why it’s more important now than ever
20 November 2020
EQT secures second ESG-linked sub line
The bridge facility currently sits at €2.7bn and has an upper limit of €5bn
9 November 2020
Find & Seek: follow-on funding
CFOs seeking follow-on funding in order to preserve value have multiple options, but which is the winning strategy?
28 September 2020
5 minutes with… Mohith Sondhi, OakNorth Bank
The senior director of debt finance explains why the bank is branching out into fund finance, what differentiates OakNorth from other players already in this space and how Covid-19 has opened up new opportunities
24 August 2020
Comment: Navigating capital calls
Lydia Danon and Shelley Drenth of law firm Cooke, Young and Keidan, outline practical steps PE firms ought to be taking to mitigate potential capital call conflicts
20 August 2020
Bluegem secures sub line from OakNorth
The deal marks OakNorth’s first transaction in the fund finance space
10 August 2020
Private Equity Service Provider Awards: Shortlist Announced
Announcing the finalists for the 2020 Private Equity Service Provider Awards
27 July 2020
LIBOR limbo
While it might seem as though there’s plenty of time for managing the transition, if left too late, GPs will have to accept whatever replacement rate they’re given
21 July 2020
Investindustrial secures ESG-linked sub line
Investindustrial’s Fund VII has secured a €600m ESG-linked subscription credit facility