Analysis

What To Know About PE Funds' Subscription Credit Facilities

Law360 (July 1, 2019, 10:01 AM EDT) -- Short-term loans designed to bridge the gap when funds need more capital for investment have gained traction, but attorneys must get up to speed on the new ways private equity players are looking to use them.

Historically, the point of subscription credit facilities has been to lessen the amount of capital calls that general partners have to make to the limited partners of their private equity funds. By including a provision in the partnership agreement that the GP is allowed to use a credit facility under certain circumstances, fund managers can avoid the traditional 10-day waiting period that is involved when...

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