Investment manager joins its banking sibling in fund finance.
A stipulation that capital distributed to LPs via NAV facilities can be recalled is creating headaches for some investors.
Fund finance specialist adds a partner and an investor relations director.
The bank will focus on capital call lines and GP financing for mid-market funds
Large regional bank will share further details of the deal on its third-quarter earnings call.
A disconnect exists in the industry between GPs who view continuation funds as a desirable way to hold certain assets beyond the limits of a traditional private equity fund, and LPs who generally would prefer a regular exit.
A myriad factors are resulting in shorter maturities for sub lines, though borrowers can pay up for longer ones.
Lenders favor big GPs in Q2, leading to pricier credit for mid-size sponsors.
The mega-sponsor is planning originations in the coming months, primarily in the buyouts space.
The ratings agency's report finds distributions for notes backed by fund stakes fell due to decline in deals.