Fund Finance

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.

The financing tool sidesteps the bid-ask spread – an issue that can sometimes put potential secondaries sales on ice.

Industry veteran Dee Dee Sklar will help the firm with its credit arm.

Structured solutions can provide much-needed liquidity without forcing LPs to crystalise a loss.

Dan Nolan joins Warana Capital as head of origination for a recently closed fund that will provide loans and issue preferred equity within the alternatives industry.