Gold Rush: The Quest for New Capital

We are delighted to bring you this year’s edition of Spotlight Magazine, “Gold Rush: The Quest for Private Capital”, where we focus on how private credit managers are adapting products, terms and structures to compete for new pools of capital in a market that remains active but increasingly more disciplined.

This edition opens with “The Rise of Evergreen Credit Funds”, which explores the growing popularity of evergreen structures and the key design choices around liquidity, subscriptions and performance fees, followed by “Rated Note Feeders: What You Need to Know”, which examines structuring techniques such as cash-flow mechanics, distribution controls and default remedies. In “Growth and Innovation in Fund Finance”, the focus shifts to how new lenders and evolving facility structures are reshaping the fund finance market, while “Recent Trends: European Credit Fund Terms” highlights tightening investment and borrowing parameters and the new side letter battleground. The publication also features “Unlocking New Investors Through Shari’ah-Compliant Funds”, which analyses the growth of Shari’ah-compliant capital and related structuring and governance considerations. Finally, regulatory and tax developments are addressed in “AIFMD and Leverage — Beware of the SPVs”, which covers leverage calculation risks, “ESG: SFDR 2.0 and What Credit Managers Should Do Now”, which discusses anticipated regulatory changes and fund classifications as well as the dominance of Article 8 and 9 funds in the EU market, and “Digging Deeper: Tax Structuring of Private Credit Platforms”, which reflects on the increasing importance of tax certainty as private credit platforms evolve.

We hope you enjoy this edition and welcome any follow-up with the contributing authors.

Diala Minott
Editor
Co-Chair, Investment Funds & Private Capital
+44-020-3023-5181
dialaminott@paulhastings.com

Click here to read this edition of Spotlight — Gold Rush: The Quest for New Capital