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Fund Finance
Umbrella fund finance facilities can be a convenient and cost efficient option for managers with a number of strategies under one roof. Leon Stephenson and Alex Griffiths of law firm Reed Smith explain why.
Almost all funds the corporate pension invests in have the ability to use a subscription line of credit, according to UPS portfolio manager Brady Hyde.
A commentary on the American Investment Council’s website criticised ILPA’s guidance on private equity’s use of subscription credit lines.
Guidance unveiled by the investors’ trade body on subscription lines comes as the industry is getting to grips with best practice on this now-controversial issue, Thomas Duffell writes.
Investment prowess is naturally a key attribute of a private equity firm; for some LPs, however, capital efficiency is just as important.
Bridging facilities are being used not just for more efficient deal execution, but also to get proceeds into the hands of LPs more quickly.
Fund managers must be explicit in their IRR calculation disclosure to investors, or face the wrath of the regulator, writes Vivek Pingili, vice-president of compliance at Cordium
Bridging facilities are being used not just for more efficient deal execution, but also to get proceeds into the hands of LPs more quickly.
TPG’s time cap on fund facilities highlights the heated debate on their use.
The use of subscription facilities by funds has seen its criticism, but the practice is not without its positives write Thomas Smith and Almas Daud.