The Hedge Fund Law Report Features Insights from Ropes & Gray’s Credit Funds Report and Webinar Recap

Ropes & Gray recently issued a report, titled “Driving Success – Challenges and Opportunities in Credit Fund Platforms,” presenting the results of a survey of 100 credit fund managers that it conducted in cooperation with Debtwire. In a recent webinar, tax partner James Brown, enforcement partner and practice co-chair Eva Ciko Carman, finance partner Alyson Brooke Gal and hedge funds partner Jessica Taylor O’Mary discussed the survey results and key takeaways from the Ropes & Gray Credit Funds Forum.

The first installment of a two-part series titled “Ropes & Gray Survey and Forum Consider Credit Fund Structures, Leverage, Conflicts of Interest and Challenging Environment (Part One of Two)” published by The Hedge Fund Law Report on July 19 summarizes the report’s findings and the webinar speakers’ insights. This included a discussion of the types of credit strategies offered by the survey participants, challenges currently facing credit funds and the types of fund structures adopted by credit fund managers – including “season and sell” structures, treaty funds, business development companies and blockers – when engaging in a direct lending strategy.

The second installment, published on July 26 titled “Ropes & Gray Survey and Forum Consider Credit Fund Structures, Leverage, Conflicts of Interest and Challenging Environment (Part Two of Two)” examined a variety of conflicts of interest that frequently arise for credit managers, the forms of leverage these managers are using, the types of issues that investors subject to the Employee Retirement Income Security Act of 1974 raise for credit managers and specific issues that arise for these managers when being examined by the SEC.