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Fund Finance

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Fund finance specialist elevates personnel across five teams.
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Some sponsors are in liquidity binds because they must wait longer to get carry.
Illustrations of US dollars
Sources say lender mix has shifted and GPs aren’t struggling to get credit.
MUFG Investor Services has snagged a well-known fund financier to head up its APAC fund finance outfit.
Market is surviving the choppy credit climate, but increased ESG scrutiny is holding some would-be issuers back.
Socium hires Matthew Reynolds
The recent hire joins from MUFG Investor Services, where she also worked in the fund finance space.
NAV and GP funding lines have joined subscription facilities as legitimate liquidity tools across private markets.
Joshua Cherry-Seto, CFO at Blue Wolf Capital, believes subscription lines are a critical part of working capital.
NAV structures are now able to suit both borrowers’ goals and investors’ yield targets, but some are worried certain structures go too far, including a structure that essentially gives borrowers equity at the cost of debt.
Banks hitting concentration limits and syndicating deals, insurance companies coming in as both buyers and lenders, and even rising interest rates all point to a bigger slice of market for non-banks.

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