Home Fund finance

fund finance

How to double up on fund finance

Bridging facilities are being used not just for more efficient deal execution, but also to get proceeds into the hands of LPs more quickly.

IRR calculations remain under SEC spotlight

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

Fund facilities: To cap duration or not?

TPG’s time cap on fund facilities highlights the heated debate on their use.

Fund finance focus: don’t neglect the positives

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.

CalPERS to examine leverage policies

Officials at the public retirement plan behemoth are set to provide feedback on Monday.

ILPA’s fund finance factsheet helps set the standard

Guidance announced this week on how fund managers should use subscription lines comes at a time when the industry is getting to grips with best practice on this now-controversial issue, Thomas Duffell writes.

ILPA urges LPs to ask about credit lines

Quarterly reports to investors must be explicit on the use of subscription credit lines, while LPs must ask for data that discounts the impact of borrowed cash, the lobby group recommends.

Sub lines’ effect on IRR and money multiple

How the use of a subscription credit facility can change the return profile of a fund in good times and in bad.

Three questions on fund finance

Demand for subscription credit lines is now being driven by the needs of separate accounts, say Jeff Johnston and Mike Mascia of the Fund Finance Association.

European CFOs split on fund leverage

Some investors are in favour of reducing the frequency of capital drawdowns, but many are concerned about the risks of extending loan periods.

Copyright PEI Media

Not for publication, email or dissemination