Fund Finance

Per Olofsson, head of alternative investments at the Swedish pension fund, said subscription credit lines should be used for capital efficiency and not to artificially boost IRRs.

Michael Flaherman says his fears about CalPERS’ exposure are left unanswered, despite a memo from the pension describing fund-level credit lines

More flexibility in fund terms may suit LPs and GPs, but threaten to bog down transparency efforts.

The LP body is consulting with members on a range of topical issues as it prepares to refresh its ‘Private Equity Principles’ document.

Law firm Dechert wrote in its latest private equity newsletter that both investors and regulators are beginning to focus more on disclosure surrounding the use of lines of credit.

The specialist bank appointed Stefan Szczurowski to support deal origination.

Against a ‘fragile’ economic backdrop, the listed firm continues to sell assets and invest only in existing portfolio companies.

A $6bn fund targeting financial services closed last year will downsize to $4.5bn in commitments. TPG is telling investors an influx of US government rescue cash to the sector has diminished opportunities.

In order to secure financing for bridging capital calls, your LPA must include certain terms.