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Higher staff turnover and changes in risk appetite at lenders have accompanied an evolution into a more transparent subscription credit line market.
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Lenders are rethinking due diligence after a private equity manager was arrested on charges that he forged LP commitments.
Subscription finance is busier than ever, prices are rising and competition among lenders is on the rise despite the pandemic.
Given ESG-linked facilities are generating ‘a huge amount of interest’, we discuss whether they are the best way to incentivise change.
The listed manager has secured a £550m credit line which is linked to reduce scope 1 and 2 carbon emissions across its operations by 80% by 2030.
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OakNorth Bank has completed a revolving credit line with Bluegem Capital Partners, marking the lender's entry to the private equity fund finance market.
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The firm tries to secure non-recourse financing, long-term maturities and little-to-no financial maintenance covenants, according to chief executive Cyrus Madon.
On its Q2 earnings call, chief financial officer Bill Janetschek detailed the way the firm handles credit facilities.
Private Equity International speaks to LPs and GPs about the industry body's updated guidelines.
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