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Fund finance

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

NAV financing: volumes increase but total value falls

New figures reveal an uptick in the number of NAV transactions for 2022, however the total value of deals dropped by 12.5% on the previous year

Alpha Group launches fund finance arm

The division will be led by Adam Heaysman, who joins Alpha from Raiffeisen Bank

Pitchbook incorporates LCD research

The integration will allow platform users to access analysis on leveraged loans, bonds, CLOs and private credit

Coller completes GP-stake sale

Hunter Point Capital has acquired a minority stake in the secondaries house

Lloyds Bank appoints head of financial sponsors syndicate

William A. Lamain joins from Raiffeisen Bank

WATCH: Liquidity strategies in a high interest rate environment

Our recent webinar discussion, exploring liquidity management and counterparty risk

Less black and white

GP/LP relationships are becoming increasingly nuanced, with management fee rates more dependent on strategy, increased organisational expenses and a decline in no-cause removal clauses

Onwards and upwards

We spoke to John Stake, managing director at Hamilton Lane, to discuss the latest findings and predictions in the firm’s 2023 Market Overview

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

LPs recalibrating risk appetite

Adams Street Partners’ 2023 Global Investor Survey highlights increasing LP scrutiny and an increased demand for private credit opportunities

Déja vu?

Collateralised fund obligations (CFOs) have been lauded as a vital route for insurance firms to play in the fund finance space - but their future, especially in Europe, is uncertain

Next level

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

Morgan Lewis opens second Germany office

The office will be launched by three partners – Florian Harder, Florian Ziegler and Jann Jetter

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

VC cap table complexity

For late-stage venture investors, creating and maintaining cap tables to ascertain a true understanding of what the fund ownership is, is a major challenge

5 minutes with… José Zudaire, managing director of SpainCap

We spoke to the managing director of Spain’s PE and venture capital association SpainCap, to understand its key aims for 2023

AMF calls for more stringent SFDR regulations

French financial watchdog proposes the introduction of minimal environmental requirements

Taking stock: The quest for fair value

As high inflation and interest rates jostle the economy, the fundamentals of fair value in a volatile market need readjusting for accurate valuations

Sun, sea and… startups!

The Spanish Startup Act aims to boost growth in the startup ecosystem with enticing tax relief for GPs

Ogier promotes fund specialist to partner

Richard Bennett provides legal advice on Cayman and British Virgin Islands laws

Simpson Thacher appoints financial regulatory lawyer

Stephanie Biggs joins from Travers Smith to co-lead the firm’s European financial services and funds regulatory team

Core opens for business

The company offers a range of fund administration services for GPs based in Guernsey

Pantheon appoints chief financial officer

Dean Maines joins the firm as CFO and partner, as two senior operations team members are promoted to partner

Tackling tokenisation

As GP appetite for tokenisation increases, concerns around liquidity, security and regulation need demystifying

Ares Capital appoints first COO

Jana Markowicz is appointed to the newly created role after 18 years’ service at the firm

Venn enhances portfolio analytics platform

The platform’s interpolation functionality uses a public market proxy to deliver an approximated daily return stream for the private market

IDR launches next-generation fund subscription

The service aims to provide a smooth fund subscription service that easily connects GPs and LPs

Apex acquires Luxembourg’s ALFI Partners

The acquisition aims to deliver a cross-border fund-distribution solution

KBRA reports relative resilience for 2023

Rating agency highlights stability in the private equity and credit sectors

Capital-raising punishment: Painful process

A sleek and streamlined onboarding process is vital to make sure hard-won commitments aren’t scared off

Highvern Ireland to offer fund administration services

The Central Bank of Ireland has granted the firm regulatory approval for fund administration services

RedeWire portal to tackle restrictive marketing rules

Built against a backdrop of complex marketing regulations and tough fundraising conditions, Rede’s new LP portal gathers new fund offerings in one place

Neutral horizons

Invesco’s 2023 Investment Outlook predicts a neutral valuations environment for the year ahead, despite tricky market conditions

Pinsent’s Bowen joins K&L to launch Dublin office

Gayle Bowen is joined by Shane Geraghty and Michelle Lloyd as founding partners

Column: Smooth operator

In a challenging fundraising environment, operational leaders must ensure the machine room is running smoothly, writes Dörte Höppner, chief sustainability officer at The Riverside Company

“Stabilised volatility” on the horizon, says EY

EY predicts the most likely geopolitical developments for PE in 2023 and successful strategy to manage them

A piece of the pie

As the alternative assets sector becomes more attractive for DC pension schemes, fund managers are tasked with scaling up to accommodate liquidity management

UNPRI et al. push for biodiversity

150 financial institutions have called on world leaders to adopt Global Biodiversity Framework at COP15

Edinburgh reforms cement UK financial divergence

The Chancellor of the Exchequer revealed more than 30 regulatory reforms to the UK financial industry to drive competitiveness and growth

Asante expands to Munich

George Lyons will serve as director of the Munich office

Oak Group makes two appointments

Oak has hired Belinda Ridout as director of client accounting and Hannah Crocker as company secretary

In conversation: Stake house

Highlights from a recent roundtable discussing the evolution of GP stake sales and what value they can bring to private equity firms

Valuations decrease predicted for Q4

Macroeconomic instability causes valuation concerns for GPs and LPs as Q4 year-end reporting approaches

Agilitas appoints two finance team members

Mia Sendlbeck and Sam Berry have joined as finance director and finance manager, respectively

Aztec Group hires non-executive director

New York-based Eric Bernstein has joined the fund administrator’s board

CSC finalises Intertrust acquisition

CSC first bid for Intertrust in December 2021

Reed Smith hires partner from Kirkland & Ellis

Romin Dabir joins the firm’s Financial Industry Group

Saunders re-joins Goodwin

Fund finance specialist Ed Saunders returns to Goodwin after three years at Mayer Brown

Validus appoints head of fund finance advisory

Gianluca Lorenzon joins from Boyak Advisors where he was a director

LISTEN: Changing approaches to liquidity management

How are private fund CFOs evolving their approach to liquidity management?

Kroll expands Duff & Phelps Opinions team in London

Their primary focus will be fairness opinions for GP-led secondaries

Hamilton Lane to offer tokenization

Partnership with Securitize will digitally expand investor access to its funds via new tokenized feeder funds

The most influential fund finance experts of 2022

Charting the market’s movers and makers

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

Shanks joins NLC

Ian Shanks joins fund finance lender No Limit Capital as senior adviser and chair of the investment committee

TDA 2022 Fund Finance: Provider winner: Investec

We explore the firm's mid-market focused full-service offering for private equity which sets it apart from its peers

TDA 2022 Fund Finance: Advisory winner: Haynes Boone

We explore how Emma Russell has propelled Haynes Boone’s offering to one of the most well-known and well-respected teams in the world

TDA 2022 Legal: Fund Formation winner: Travers Smith

Sam Kay, funds partner at Travers Smith describes what's enabled the firm to have such a deep understanding of the market