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Insurance companies are stepping into the fund finance market. Khizer Ahmed of Hedgewood Capital Partners explains why they might be the right lenders for your next fund.
The listed manager has secured a £550m credit line which is linked to reduce scope 1 and 2 carbon emissions across its operations by 80% by 2030.
PFCFO April/May 21 cover
Subscription credit facilities linked to ESG have piqued the interest of many GPs in the past year. Could these lines be right for you?
theft
The idea of having to foot a bill to the tune of millions of dollars for a loan secured by fiction serves as a wake-up call to investors, lenders and GPs alike.
Lenders rethink due diligence after private equity manager arrested on charges that he forged LP commitments.
But investors express concern over shifting terms, with a significant minority worried about the extent to which GPs are using credit lines.
Fundraising
Capital raising for secondaries vehicles last year grew almost threefold, with Ardian, Lexington Partners and Goldman Sachs leading the charge.
new york city
The private equity giant collected $95bn across all strategies last year, according to its earnings results on Wednesday.
The firm has hired a partner from Troutman Pepper and made a spate of internal promotions.
GPs appear relaxed about the growth of the leveraged loan market, while possible covid-related covenant issues sit more front-of-mind
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