EnCap: Connor Hussey caught up with the Houston-based firm’s deputy CFO, which began rotating staff back into the office on May 18, giving us a glimpse of what office reintegration may look like for firms in other states that are beginning to open back up.
ILPA survey: From the June issue, a look at some of the findings from a survey taken by the Institutional Limited Partners Association of LPs in the early days of the covid-19 crisis. Among them: capital calls increased significantly in the latter half of March, as the pandemic took hold of the economy. Capital calls have anecdotally decreased significantly, my lending sources say – one major lender said that repayments have far outpaced drawdowns in the past two months, and utilization rates on lines have sunk. But I wonder what LPs’ views on this are, now – around the time ILPA published this survey, the Fund Finance Administration convened its members and found it wasn’t completely convinced that capital calls had meaningfully increased, compared to the same period in previous years.
Email prepared by Graham Bippart