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Two lawyers weigh in on facing the double-barreled challenge of covid-19; first preview of an upcoming guide to GP-led liquidity solutions from Proskauer.
The advisory firm is working on solutions for LPs that may not have sufficient liquidity to meet a capital call, partner Peter Martenson said.
While there have been fewer meetings, and they are on Zoom, there are meetings, and they have been productive towards advancing raises forward.
Me: 'Thoughts on the ILPA recs?' You: 'They’re great. But I want to keep my sub line drawn for the first two years of the next fund'; Compliance during the pandemic: tips and advice from experts.
The industry organization is circulating a draft proposal recommending a host of disclosures on GPs’ use of subscription credit lines, with an eye to helping LPs manage exposure to the lines, allocation to PE and overall liquidity.
ILPA outlines how LPs can estimate their subscription credit line liability in a draft set of recommendations on disclosures reviewed by Private Funds CFO.
Life buoy life preserver
Concentrated NAV lenders and preferred equity financers are seeing historic dealflow. But only a handful of alternative lenders exist, and banks active in concentrated NAV are scarce and rarely transact. With potentially thousands of funds looking for liquidity for their portfolio companies, will this rare source of fund liquidity be able to sate demand?
Private funds' liquidity options have evolved in recent years. Davis Polk & Wardwell lawyers Leor Landa, Michael S. Hong and Brantley A. Hawkins explain some of the alternatives to traditional fund financing solutions.
knight
The niche strategy is coming into its own, as it did back in the global financial crisis.
Lawyers from Paul Weiss pinpoint the areas of a private equity firm operations that may need to be adjusted to account for the coronavirus outbreak, including fund documentation, valuation and banking relationships.
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