Finance Partners Author Chapter on Response to ILPA Guidelines in Global Legal Insights Fund Finance 2018
Finance partner Patricia Lynch authored a chapter titled “Investor views of fund subscription lines: The ILPA guidelines and the market response” in Global Legal Insights Fund Finance 2018.
This chapter explores the recent scrutiny over the use of subscription facilities and navigates the ILPA’s July 2017 guidelines, issued in the midst of this heightened debate. The authors detail how select guidelines have influenced deal terms between investors and fund managers when negotiating the terms on which funds may use subscription capital call facilities. They offer insight into why the market’s reaction to these guidelines has been more measured than some had predicted, and they also provide a brief outlook on how the ILPA’s guidelines will continue to shape the deal landscape in the subscription facility market in 2018.
Ms. Lynch will be a speaker on the ILPA Guidelines and Investor Panel at the Fund Finance Association’s Eighth Annual Global Fund Finance Symposium on March 21 in New York.