Following New York State Governor Kathy Hochul’s proposal in February of this year (see our previous alert), the New York legislature passed and Governor Hochul signed a law on May 3, 2023, which significantly increases the...more
This yearly report provides a summary of some of the significant changes and developments that occurred in the past year in the hedge fund and private equity spaces, as well as certain recommended practices that investment...more
PIPEs (private investments in public equity) provide investors and public companies with a flexible vehicle for bespoke capital solutions that can be executed quickly in the volatile markets that have arisen in the COVID-19...more
8/18/2020
/ Common Stock ,
Corporate Governance ,
Corporate Issuers ,
Investors ,
Nasdaq ,
NYSE ,
Preferred Stock Financing ,
Private Equity ,
Private Investment in Public Equity (PIPEs) ,
Publicly-Traded Companies ,
Securities Transactions ,
Term Sheets
For many sponsor-backed and other highly leveraged private companies, the business impact of COVID-19 is just beginning to apply pressure to financial covenant compliance. As borrowers and private credit (or other) lenders...more
7/15/2020
/ Balance Sheets ,
Borrowers ,
Capital Markets ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Debt Restructuring ,
Investors ,
Lenders ,
Preferred Stock Financing ,
Private Equity ,
Third Party Funding
Many markets, including the private credit markets, are facing market declines, disruptions and dislocations stemming from the policies enacted to combat the ongoing spread of COVID-19. The private credit industry has seen...more
The fund finance market has continued to grow at a fast pace in recent years. Increased demand by fund sponsors for fund-related financings has led to a large influx of new lenders. In trying to maintain or gain market share,...more
11/21/2019
/ Capital Contributions ,
Capital Raising ,
Co-Investment Rights ,
Credit Facilities ,
Creditors ,
Disclosure Requirements ,
Financial Markets ,
Fund Sponsors ,
General Partnerships ,
Limited Partnerships ,
Notice Requirements ,
Popular
The trend of direct lenders providing preferred equity financing to support sponsors and operating companies has only accelerated in the two years since we first wrote on the topic. Preferred equity instruments in general...more
We are delighted to share with you the results from our second annual Trends in Private Credit survey. This year’s survey was conducted via web from January 9th to February 9th 2018.
In this report, we will share...more
4/18/2018
/ Banking Sector ,
Borrowers ,
Competition ,
Consumer Financial Products ,
E-Commerce ,
EBITDA ,
EU ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
GDP ,
Interest Rates ,
Investment Adviser ,
Investment Funds ,
Investment Management ,
Investors ,
Lenders ,
M&A Brokers ,
Private Funds ,
Tax Reform ,
UK ,
UK Brexit
Increasingly, buyout sponsors are turning to third party preferred equity as a financing tool for their transactions. Structured to be treated as equity for debt rating agencies, bank regulatory regimes and in-place debt...more