10th Annual Fund Finance Global Symposium Pre-event Survey
1. Did the number of subscription/capital call facilities you worked on in 2019:
Grow significantly (>30% increase)
Grow meaningfully (10-29% increase)
Grow modestly (1-9% increase)
Decrease modestly (1-9% decrease)
Decrease meaningfully (10%+ decrease)
1a. Have you seen an increase in alternative Fund Finance products from your clients?
Yes
No
If "Yes", please specify what types of alternate Fund Finance products.
2. If you represent lenders, did you represent more or less banks in 2019 vs 2018?
More
Less
3. Do you anticipate hiring more lawyers to support your practice in the Fund Finance space in 2020?
Yes
No
4. Do you anticipate hiring at the Partner level to support your practice in the Fund Finance space in 2020?
Yes
No
5. If you represent fund managers, does your firm actively market/discuss usage for subscription/capital call facilities during fund formation discussions?
Yes, always
Occasionally
Usually not
No
6. If you represent fund managers, are fund managers asking about subscription facilities during the fund formation discussions?
Yes, more so than prior years
Yes, but about the same as historically
Not until we bring it up
Usually not
7. If you represent fund managers, are investors asking about subscription facilities during documentation negotiations?
Yes, more so than prior years
Yes, but about the same as historically
Not until we bring it up
Usually not
8. If you represent fund managers, approximately how many lenders have you seen commit to subscription/capital call facilities in 2019?
1-5
6-10
11-15
16-20
21-30
31-40
41-50
51-60
60+
9. How large do you estimate the subscription/capital call facility market to be (aggregate facility size, unsecured or secured, committed or uncommitted) where advances are calculated primarily off of uncalled capital commitments of a fund?
Less than $300Bn
300Bn – 400Bn
400Bn – 500Bn
500Bn – 600Bn
600Bn – 700Bn
$700Bn+
I have no idea
10. Are you seeing an impact of the ILPA guidelines on your business?
Yes
No
If "Yes" – please specify how
11. Given the press on the fund finance industry, how concerned are you about the impact on your business:
Not concerned
Somewhat concerned
Concerned
Very concerned
12. Hybrid facilities - what level of interest are you seeing from your clients:
Very little interest
Some interest
Significant interest
13. Have you seen a change in the underwriting standards for subscription facilities?
Have been materially lowered
Have been slightly lowered
Are mostly the same
Have been slightly increased
Have been material increased
14. Given the Abraaj developments, are you changing documentation and/or procedures?
Yes – substantially
Yes – but only on the margin
No
Other
If "Other", please specify.
15. What would you like to see the FFA provide that is not being provided?
