Fund Finance Friday | Industry Conversations

In today’s Fund Finance Friday: Industry Conversations, Mike Mascia of Cadwalader covers off the Fund Finance legal updates occurring over the past two weeks, Graham Bippart, the Editor at Private Funds CFO that just completed a ten-part series on Subscription Facilities, discusses his funds finance research and writing, and Zac Barnett of Fund Finance Partners and Mike have a wide-ranging conversation about fund finance activity levels, the market segments where FFP is looking for lenders to finance prospective transactions, and their forecasts and predictions for the remainder of the year and beyond. Additionally, Whitney Namm Pollack, the Executive Director of the Project Sunshine, discusses the great work her organization is doing to help hospitalized children and how FFA constituent firms can contribute. For more information, please visit fundfinancefriday.com.

In today’s video version of Fund Finance Friday: Industry Conversations, Pratap Dasgupta of Macquarie provides an update on the secondaries and greater NAV financing markets, Rich Young of Cadwalader discusses his next career chapter, Michelle Bolingbroke announces her more formal role with the Fund Finance Association, and Ken Bigelow, Managing Partner at Sionic, introduces his firm’s software solution for banks that is specifically customized and designed for subscription finance. Cadwalader’s Mike Mascia hosts.   Visit fundfinancefriday.com for more.

In today’s video version of Fund Finance Friday: Industry Conversations, Tim Hicks, Partner at Cadwalader, provides a market update on the subscription facility sector, and Pramit Sheth, Managing Director at Kroll Bond Rating Agency, gives color on the types of fund finance transactions they are rating and what they are seeing in the market post-COVID. Additionally, Laura Clark, the CEO of the United Way of the Central Carolinas, discusses the tremendous uptick in community needs, what the United Way is doing to try and help our challenged neighbors from both a social justice and covid response perspective, and how we can all contribute and help. Cadwalader’s Mike Mascia hosts. Visit fundfinancefriday.com for more info.

In today’s Fund Finance Friday: Industry Conversations (check out Cadwalader's YouTube channel for the video version), Charlie Owens, Managing Director at Signature Bank, gives an update on what the bank is seeing and doing in the market currently, Ken Pierce, newly minted CEO of Lockton Capital Markets, describes the NAV-financing his firm is structuring and placing with insurance company lenders, and Cadwalader’s Samantha Hutchinson gives an update on the European market, with a deep dive into the rapidly expanding and evolving NAV-lending space.   Visit fundfinancefriday.com for more.

In today’s FFF: Industry Conversations, we added video and connected with a host of fund finance market participants. Nick Mitra of Natixis joins to give a market update, Tina Meigh of the Maples Group provides an update on the Fund Finance Association, Rory Smith of Brickfield Recruiting provides an update on the hiring market, and Jeff Nagle of Cadwalader summarizes the best practices for LIBOR transition proposed by the ARRC last week. In addition, we feature a short but important discussion with Leslie Gordon, President & CEO of Food Bank For New York City, on the growing hunger challenges presented by COVID-19. Cadwalader’s Mike Mascia hosts and also provides some data from our practice for 2020-to-date to try and forecast transaction volumes for the summer.

Melanie Herald, Managing Director, Head of Alternative Lending at State Street, joins Cadwalader’s Mike Mascia in this week’s podcast edition of Fund Finance Friday: Industry Conversations. Melanie discusses her role at State Street and her team’s market focus in fund finance. She also discusses the impact of COVID-19 on her team’s business, as well as that of the bank’s clients, and forecasts how the market is likely to evolve as a result of the disruption.

Jan Sysel and Adam Summers, Partners at Fried Frank, join Cadwalader’s Mike Mascia in this week’s podcast edition of Fund Finance Friday: Industry Conversations. Jan and Adam cover what Fried Frank is seeing in fund formation and fund finance as the market stabilizes into month three of the disruption. They cover the current fundraising market, the pipeline for subscription facilities, and give forecasts around the impact on NAV facilities of mark write downs when 2nd quarter financials become available. Adam also provides an update on the leverage finance markets. 

Jesse Hurley, Head of Global Fund Banking at Silicon Valley Bank, connected with Cadwalader’s Mike Mascia in this week’s podcast edition of Fund Finance Friday: Industry Conversations.  In the podcast, Jesse covers what Silicon Valley Bank is seeing in their fund finance portfolio, including investor capital call funding performance, facility utilization and pipeline opportunities.  He also discusses the growth of the SVB Fund Banking team and their many new hires, predictions for the venture capital and angel investment space for the remainder of 2020 and the corresponding impact on the innovation economy.

Dave Philipp of Crestline Investors and Scott Aleali of First Republic Bank connect with Cadwalader’s Mike Mascia in this week’s podcast edition of Fund Finance Friday: Industry Conversations. In the podcast, Dave covers the breadth of the NAV-lending market, including detail about transaction structures and attachment points, addressing revised marks in an existing portfolio, the uptick in borrower inquiries post-COVID and forecasts for how the NAV and pref equity markets may expand and evolve in the medium and longer-term. Scott gives a credit performance update on the capital call space, discusses the evolving uses of capital call lending in the new environment and provides a host of insightful predictions for how both the fund finance market and the macro landscapes are likely to play thru during the summer and into the future.   

Sarah Elliott of National Australia Bank connects with Cadwalader’s Mike Mascia in this week’s podcast edition of Fund Finance Friday: Industry Conversations. In the podcast, Sarah gives an update of what National Australia Bank is seeing in the fund finance markets.  She also discusses her recent LinkedIn post on the human tragedy surrounding us all from the COVID-19 virus along with the great hope, resilience and leadership she sees emerging from the difficult circumstances.