Hedge Fund Alert Quotes Hedge Funds Leader Laurel FitzPatrick on TALF Fund

In The News
July 14, 2020

In a July 1 Hedge Fund Alert article on TALF funds, asset management partner Laurel FitzPatrick notes that Ropes & Gray’s private funds practice is working with several managers, who are each raising TALF funds over $1 billion. “The fundraising has been quite robust, and managers have been quick to roll out product,” said Laurel, who leads Ropes & Gray hedge fund team. 

In the wake of the current financial crisis caused by the COVID-19 pandemic, the Federal Reserve, in conjunction with the Department of the Treasury, has established several fiscal and monetary stimulus programs to seek to address and mitigate market disruptions, including the Term Asset-Backed Securities Loan Facility (“TALF”). The TALF is a $100 billion credit facility under which the Federal Reserve Bank of New York (“FRBNY”) (through a special purpose vehicle) will make non-recourse loans to eligible borrowers. Additional information on the TALF Program is available here: