Graham Bippart

The potential for disputes are among the four ‘need-to-know’ issues in 2020; a couple of people moves.

Some firms embrace the benefits of working from home; Three big regulatory issues.

In the issue: CFOs on valuations in a pandemic; the tests facing the mark-to-market model; GPs' options if an LP defaults; and much more.

NAV loan case studies and considerations; New episode of the PEI podcast.

ILPA draft proposal to increase subscription line disclosures; ILPA issues steps for LPs to estimate sub-line exposure; Blackstone takes a hit, warns on likely increased taxes; Correction on SEC proposal article

The industry organization is circulating a draft proposal recommending a host of disclosures on GPs’ use of subscription credit lines, with an eye to helping LPs manage exposure to the lines, allocation to PE and overall liquidity.

ILPA outlines how LPs can estimate their subscription credit line liability in a draft set of recommendations on disclosures reviewed by Private Funds CFO.

Some GPs are looking to get recycling clauses to support portfolio companies, some recycling clauses already allow for that, some appear not to; SEC looks to clean up rule on fund valuations.

Important info for funds with a backlog of sellers of LP interests; The profundity of the oil crash is causing some GPs to think about a different future

A look at what’s happening in preferred equity, concentrated NAV and (not) happening in diversified NAV; Davis Polk takes a look at other sources of liquidity.