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Hybrid Credit Facilities

18 September 2017
Fund Finance Market Review - Fall 2017
Real estate, buyout, debt, secondary and other closedend funds (“Funds”) have often used subscription backed credit facilities—also known as “capital call” or “capital commitment” facilities (each a “Subscription Facility”)—to access cash quickly, or as a bridge to capital calls or other permanent asset-level financing. Under these facilities, Lenders look to a Fund’s uncalled capital commitments and rights to call capital as security for the loans and for purposes of calculating borrowing base availability.

Authors

  • Todd N. Bundrant
    T +1 312 701 8081
  • Zachary K. Barnett
    T +1 312 701 8841
  • Ann Richardson Knox
    T +1 212 506 2682
  • McKay S. Harline
    T +1 312 701 8695
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