Fund Finance

Law firm lands seasoned attorney amid growing demand for fund debt.

The Carlyle unit is also in market with its flagship secondaries programme and a dedicated single-asset-focused fund.

The inclusion of adjacent strategies such as GP stakes and portfolio financing in volume reports shows how what matters to secondaries market participants is evolving.

Trade group calls for LPAC consent in some cases, and for new fund documents to cover usage and limits.

Max Barnes joined Rede Partners in 2021 from Abrdn and was included in Secondaries Investor's Next Gen Leaders of Secondaries list last year.

Such alternatives could be better options than selling fund stakes if LPs must take massive discounts, according to the $251bn pension's senior investment officer John Bradley.

The NAV-lending specialist has also opened an office in Dubai, bringing its global bureau count to three.

Fund finance is no stranger to the secondaries market, and recent developments suggest participants should keep an eye on how this market evolves.

The bank will focus on capital call lines and GP financing for mid-market funds with the hire of Olivia Deroy who had worked at First Republic.

A disconnect exists in the industry between GPs who view continuation funds as a desirable way to hold certain assets beyond the limits of a traditional private equity fund, and LPs who generally would prefer a regular exit.