Looking to find more information about what fund finance actually is and what a day in the life looks like. From what I can tell is it's a middle office role that works directly with the deal teams. Besides that I can't find much else.
Anyone have any insight into what a role would look like and potential/common exit ops internally/lateralling or externally?
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you provide revolvers to fund entities for liquidity needs
At some banks that is a group that provides capital call facilities for PE funds. A capital call facility is a revolving line of credit that can be drawn upon and then repaid once the LPs have contributed the requested capital. It’s essentially to bridge the short gap between when an investment is made and when equity is contributed by investors.
Closer to FO at balance sheet banks but these comments are correct
Yeah, I think only balance sheet banks have the capacity to do it. In my bank, this team both originates and executes, so it's definitely client facing.
FO. Generally, a segment of financial institutions or financial sponsors coverage with a specific product focus. They deploy enormous amounts of debt secured by NAV or capital calls, and ultimately make a killing in fees.
Capital is very high quality, and very inexpensive to borrow but has high utilization. Important for sponsor to bank relationships.
Do you have any idea for exit opps for this product?
Exit opps for this product?
Zzz
How is the WLB compared to other strategies? Would you recommend it at the associate and up levels?
Provide revolvers for both private equity and private credit funds. It’s for liquidity at times but it’s really a leverage use in most cases. Client goes in with a notional portfolio amount and can get loan to value based on how risky the bank deems it. Very hot seat right now. Lots of credit agreements.. sharpen up on that if you want to break in
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