Daily Compliance News: April 7, 2025, The Whistleblowers Awarded Edition
The recent closing by Goldman Sachs of its highly innovative and market leading US$475 million “capital call” securitisation of subscription credit lines has generated a lot of interest in both fund finance and structured...more
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more
The Cayman Islands is a globally recognised and highly regarded jurisdiction with a market leading aircraft registry in the Civil Aviation Authority of the Cayman Islands (the “CAACI”). The combination of a strong, stable and...more
Funds make use of series partnerships across jurisdictions to allow for segregation of partnership interests, assets, distributions and operations into separate series or classes. A particular quirk of Cayman series...more
For many years, most bankers and finance lawyers assumed that any involvement in insurance or reinsurance projects meant venturing into the dark arts of financial services and exercising a degree of alchemy that only a...more
We have been following Fund Finance Friday‘s journey through different U.S. jurisdictions (and last week's look at England & Wales) and the interesting range of approaches taken by various states to sovereign immunity. With...more
Of the comments that Cayman counsel add to transaction documents, one of the points that seems to incur a raised eyebrow by U.S. counsel or lenders now and again is the addition of “executed as a deed” in signature blocks of...more
We are often asked by clients and non-Irish law firms in the context of fund finance transactions about using fund structures established under the revamped Irish Investment Limited Partnership (“ILP”) regime, and, in...more
Those in the subscription credit market will likely be familiar with traditional collateral arrangements over the capital call rights of Cayman funds formed as exempted limited partnerships (ELPs). Recently, however, we have...more
The Cayman Islands has long been a leading investment funds jurisdiction, and the North American fund finance industry is relatively familiar with the key legal concepts arising on a fund financing involving Cayman Islands...more
The security package for a subscription facility will typically include security over the uncalled capital commitments of a fund’s investors, including: (i) the right to make capital calls on investors in respect of their...more
As avid LinkedIn users will no doubt be aware, the EU’s focus on lists of various types continues and the Cayman Islands looks set to be added to the EU’s list of “high risk countries” for anti-money laundering at the end of...more
Cadwalader has recently seen a growth in the number of funds formed in Jersey and Guernsey that are party to subscription and NAV facilities. Trent Lindsay and Cassandra Best spoke with Julia Keppe, Senior Counsel at Walkers...more
As the universe of asset-based and hybrid facilities continues to expand, fund finance lenders are increasingly encountering pledges of equity interests issued by funds or SPVs domiciled in popular jurisdictions outside of...more
Since the early 1990s, the U.S. stock exchanges have long been home to many prominent Chinese companies as they tried to attract a wide spectrum of investors and enhance their global profile. However, waves of the reverse...more