Skip to main content

Legal Update

Sovereign Immunity Analysis in Subscription Credit Facilities

27 November 2012
Mayer Brown Legal Update
Subscription credit facilities have become a popular form of financing for private equity and real estate funds. Governmental pension plans, state endowment funds, sovereign wealth funds and other instrumentalities of foreign and domestic governments are frequent Investors that may possess certain sovereign immunity rights against enforcement proceedings rooted in the common law concept that “the King can do no wrong.” Governmental Investors must be evaluated on a case-by-case basis to ascertain if any sovereign rights apply and, if so, whether such Investor has effectively waived its immunity. This Legal Update seeks to set forth the basic legal framework of sovereign immunity in the United States relevant to subscription credit facilities.


  • Zachary K. Barnett
    T +1 312 701 8841
  • Mark C. Dempsey
    T +1 312 701 7484
The Build a Report feature requires the use of cookies to function properly. Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently. If you do not accept cookies, this function will not work. For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.