The LMA is pleased to launch the first in its series of educational webinars on fund finance. This Introduction to Fund Finance sees Bronwen Jones (Partner at Cadwalader, Wickersham & Taft LLP) and Ed Reilly (Senior Legal Counsel at Standard Chartered Bank) give an overview of fund finance from both legal and commercial perspectives. They discuss:

• How fund finance differs from investment grade lending and leveraged finance.
• The basic private capital fund structure.
• The evolution of subscription facilities.
• A brief introduction to NAV facilities and how they differ from subscription facilities.

The webinar is available here.

Regulation is playing an increasing role in shaping the future of the fund finance market. It is not just a concern for banks or regulatory lawyers – it is relevant to everyone in the industry. With liquidity demands on the rise, and with regulators increasingly focusing on fund finance, understanding the evolving regulatory landscape is not an option – it is a strategic priority. Staying ahead of these changes is essential in navigating the impacts on liquidity, efficiency and transparency.

The LMA welcomes the publication of the Financial Stability Board’s report on leverage in Non-Bank Financial Intermediation (NBFI). This is a pivotal moment in the international regulatory agenda on leverage in the non-bank space. We are pleased to see that several of our recommendations have been taken into account. Our press statement on the report is available here.

As implementation discussions unfold, the LMA will continue to engage with members and policymakers to ensure any follow-up measures reflect the actual risk profile of the loan and private credit markets.