Home Fund financing

fund financing

Privately Speaking: UPS on sizing up managers

Brady Hyde, private equity portfolio manager at the world's largest package delivery company, is banking on active portfolio management as the firm joins the ranks of LPs doing more direct investing.

Debt special: leveraged finance going strong

The sun is shining on private equity, and private debt is largely to thank. With financing from funds and banks readily available, Alistair Hay of Cavendish asks whether PE has ever had it so good and how these funding solutions can co-exist.

Carlyle CFO: LPs ‘mixed’ on credit lines

Thomas Mayrhofer explains what he considers best practice for the use of credit lines.

UPS: Abuse credit lines and we won’t invest

Almost all funds the corporate pension invests in have the ability to use a subscription line of credit, according to UPS portfolio manager Brady Hyde.

PE’s calculations and disclosures still under SEC spotlight

Private equity firms that do not sufficiently disclosure how they calculate IRR could face enforcement action, writes Vivek Pingili, vice-president of compliance at consulting firm Cordium.

CalPERS to examine leverage policies

Officials at the public retirement plan behemoth are set to provide feedback on Monday.

ILPA’s timely fund finance crib sheet helps set the standard

Guidance announced this week on how subscription lines should be used by fund managers comes at a time when the industry is getting to grips with best practice on this now controversial issue.

ILPA urges LPs to ask about credit lines

Quarterly reports to investors must be explicit on the use of subscription credit lines, while LPs must ask for data that discounts the impact of borrowed cash, the lobby group recommends.

Three questions on fund finance

Demand for subscription credit lines is now being driven by the needs of separate accounts, say Jeff Johnston and Mike Mascia of the Fund Finance Association.

Some GPs ‘abusing’ credit lines, says LP

Olivier Carcy, who oversees a $3.2bn private equity programme at wealth manager Indosuez, said LPs should be compensated for the use of their credit rating.