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AP7: Sub lines should be for capital efficiency

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.

CalPERS ex-board member tells PEI of credit line concerns

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

Let's be clear

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

ILPA gathers views on credit facilities

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

SEC to eye credit line use, says law firm

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.

Investec boosts fund finance team

The specialist bank appointed Stefan Szczurowski to support deal origination.

TPG slashes finance fund by 25%

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.

3i extends credit facilities amid deal slowdown

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

Where credit is due

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

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