Keywords: Americas; Europe; Asia; Banking & Finance; Private Investment Funds; Leveraged Finance; Structured Finance

In this Summer 2014 edition of our Fund Finance Market Review, we discuss some of the more noteworthy trends impacting the subscription credit facility and fund finance markets, including our views of the challenges and opportunities created by an increasingly prominent regulatory framework. We also explore some of the new and accelerating sources of capital for funds, potential new facility products in response thereto and the shifting legal landscape affecting facility lenders.

On July 22nd and 23rd, we held our annual Fund Finance Mid-Year Market Update Panels, this year in Los Angeles and San Francisco (the "Market Updates"). Based on our experiences and the views expressed by the panelists at the Market Updates, capital call subscription credit facilities have continued their positive credit performance and growth momentum in the first half of 2014. Below we set forth our views of the current market trends and developments likely to be relevant for the remainder of 2014.

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Originally published 6 August 2014

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