Coronavirus

Pros and cons of seeking a fundraising extension; Proskauer takes a look at the factors that determine and affect clawback.

In light of the pandemic, private fund managers should analyze their portfolios for potential clawback obligations and plan how to mitigate them if they arise.

LPs will consider the amount of capital raised and deployed, and whether any investments are already underwater when granting GPs more time to raise funds during the coronavirus crisis.

CFOs say they welcome ILPA’s call for more disclosure on subscription credit line usage, but some still argue producing two different IRRs will only further complicate reporting.

CFOs speaking to Private Funds CFO are keen to be able to keep subscription credit lines drawn until their funds hold a final close to avoid what they say are messy LP rebalancing issues.

Our May issue, including our cover story, “Valuations in a Pandemic”, is out and ready to be downloaded; Leading lawyers give their take on the big topics of this year.

The pandemic has brought both active relief from regulators and greater unknowns and risks for compliance teams.

Update on PPP returns; Apollo earnings call

On the firm’s Q1 earnings call Friday, executives stressed it is looking to capitalize on distressed opportunities, and the March 31 marks are only a snapshot in time.

The industry body will work with stakeholders who need more time to formulate comments on its draft recommendations; four Carlyle funds fall out of carry.