In case you are wondering what a severance package looks like for the CEO of a business development firm, here are the details of Hercules Capital’s separation from Manuel Henriquez. The former chief executive stepped down in March, having been indicted in a US federal court in connection with the college admissions scandal (he has pleaded not guilty).

Elsewhere today, guest commentator Sam Metland discusses the operational challenges that have arisen from the blurring of lines between liquid and illiquid funds.

We are currently working on a directory of subscription credit-line providers. We’d love to know who you are using: get in touch with Philippa Kent.

Email prepared by Toby Mitchenall