Fund Finance

Investor appetite for co-investment is at an all-time high – but it’s not as easy as it looks.

Developments including the evolution of use cases and a wider universe of lenders create a more flexible yet complex ecosystem.

Increased appetite from Institutional investors, access to liquidity and the proliferation of bespoke structures have accelerated change in fund finance, according to panellists at the European Fund Finance Symposium.

How market forces are shaping fees and expenses; Hunter Point gathers $4.3bn for GP financing; EQT gets a new CFO.

Fundraising remains a challenge for plenty of new firms, but there are glimmers of hope for the PE ecosystem yet.

As GP-led secondaries establish themselves as an accepted route to liquidity, the intersection with preferred equity financing is gaining prominence, says Simpson Thacher & Bartlett’s Drew Harmon.

The structured specialist has closed Dawson GP Finance 2 on its hard-cap as interest in GP ecosystem investing increases.

In today's edition, PE's liquidity crunch sparks an LP default; Secondaries could receive a further injection of capital; KKR finds another 15x reasons to endorse ESOPs.

An anecdote on how AI is already playing a greater role in investor relations; embattled software portfolios face a looming maturity wall; GPs face friction in the fund finance process.