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Fund finance

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

Rede Partners appoints head of strategic capital advisory

Riccardo Villa will lead the advisory’s alternative liquidity solutions services

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…

Bischoff succeeds Peel as head of finance at Travers Smith

Charles Bischoff (left) has been a partner since 2012; Peel (right) to remain at the firm and continue to ‘play a significant role’ in the practice

Economic symptoms of longevity

Addleshaw Goddard’s latest Funds Trends Report showcases the effects of longer fundraising and investing periods on the economics of the GP-LP relationship

Ogier expands Luxembourg fund finance team

Delphine Gomes is a banking and finance counsel with experience in fund, leveraged and real estate financing

Profile: Miguel Gutiérrez, Portobello Capital

The deputy COO discusses working life at the Spanish GP, from adopting new technologies to overseeing the Luxembourg office

Bridge expands to the US

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

In Conversation: Solving the liquidity gap in fund finance

Highlights from a recent roundtable discussing the biggest challenges GPs are facing when trying to secure fund financing

Simpson Thacher hires fund finance partner

London-based Katie McMenamin joins from Travers Smith

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

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

AllianceBernstein launches NAV lending strategy

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

Praxio appoints head of banking and finance

Pinsent Masons fund finance director Michael Mbayi joins Luxembourg law firm

Trigger warning

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

Moving surety from obscurity

Surety could be an overlooked, low cost liquidity solution in a time of portfolio optimisation

New fund finance marketplace Bridge launches

Cloud-based platform aims to connect lenders and borrowers to arrange capital call facilities in real time

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

Alpha launches digital fund finance platform

New solution aims to match borrowers with lenders instantly

Kennek secures $12.5m

Seed funding round was led by HV Capital

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

Socium Fund Services launches loan agency and administration services

The Suntera Global-owned fund administrator extends its product offering to private credit firms

Paloma Capital signs fund finance facility with OakNorth

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

MML promotes Darroch to partner

The finance director has been at the firm since 2021

Alpha acquires Cobase

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

Welsh joins Partners Group

Kieran Welsh joins the fund finance team, and was previously at National Australia Bank

GLAS to acquire French trust business Pristine

Pristine’s fiducie and fund structuring and management services will be folded into the GLAS SAS business offering

Ogier promotes Tuohy to partner

Tommy Tuohy advises on fund finance in the Cayman Islands

Foresight promotes Banks to fund finance director

Lynsey Banks manages a fund finance team of six individuals in London

Pen to pension

How DC pension master trusts are looking to tap into PE

Socium Fund Services partners with Broadridge

Socium will incorporate Broadridge’s Sentry tool to improve its debt fund administration services

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

Bridgepoint appoints fund finance VP

Hamish Massie joins from Bank of Ireland

Comment: Cutting through conflicts in GP-led transactions

Travers Smith’s Victoria Bramall and James Ravden outline five strategies to mitigate conflicts in GP-led deals

Volpi Capital closes on continuation fund

The technology-focused European mid-market firm has divested the remaining assets from its debut fund into the new vehicle

The conversation: dealing with an increasingly complex fund finance lender landscape

At a recent breakfast event held in London, The Drawdown brought together expert practitioners from the fund finance community to discuss the latest trends in the market, challenges and opportunities, as well as practical guidance for fund managers

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

Proskauer appoints finance partner

Paul Tannenbaum is experienced in fund financing transactions for lenders, borrowers and financial institutions

Debt set

The Drawdown hones in on the private credit trend that the experts think is here to stay – how can GPs establish a successful first-time credit fund in this economic climate?

Comment: Future-proofing operational models key to supporting global GP ambitions

Elliot Refson, head of funds at Jersey Finance, says the jurisdiction’s JPF and LLC structures provide stability in a turbulent environment

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

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