United Kingdom: Fund Finance

Proskauer fund finance partner Mei Mei Wong and Pemberton's Cassandra Fahy explore the evolution of net asset value-based fund financing, examining how this increasingly sophisticated tool has transformed from a niche product into an established component of the private equity landscape. Their discussion reveals how NAV financing serves diverse purposes across fund lifecycles, from portfolio value creation to LP liquidity solutions, while addressing the critical considerations around valuation, leverage, an

Rated note feeder funds are transforming how institutional investors access private capital by converting equity exposures into rated debt instruments. Originally designed for US insurers seeking better capital treatment, these structures have gained significant momentum, with the market more than doubling in recent years. As interest grows in their application under Solvency II and UK frameworks, understanding the practical and structural considerations becomes essential for both fund managers and investor

The 10th Annual European Fund Finance Symposium brought together lenders and advisors to explore the evolving mid-market fund financing landscape, where creative problem-solving and flexible structures are reshaping how managers access capital. From GP facilities gaining traction amid slower exits to the practical challenges of restrictive fund documentation, the discussion revealed how significantly the market has transformed in just two years.

The long-awaited SFDR 2.0 has finally been published by the European Commission. It proposes a significant reset of the EU's sustainable finance disclosure framework, reshaping the current...

Woodford's appeal against a multimillion-pound UK Financial Conduct Authority (FCA) fine and ban is under the spotlight.

The fundraising market for private fund sponsors remains highly competitive, and for many sponsors, offering inducements to investors has become a core element of their fundraising strategy.

Managers of private funds are often securing greater flexibility in how they recycle capital, a trend that could boost returns and provide crucial liquidity during uncertain markets.

The process of investor onboarding is traditionally labour intensive, time consuming and costly. Completing subscription agreements and collating investor KYC materials can be arduous and can incur high costs for work that is largely process driven...

"Without the frequent trading and regular price discovery present in more liquid public markets, firms must estimate private asset values using judgement-based approaches to meet applicable accounting standards.