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How to hedge risk with the French fiducie

A cheaper alternative to the Credit Default Swap, the fiducie is expected to play a bigger role as the use of French law increases post-Brexit. Benjamin Raillard of Solutions Fiducie explains its applications.

What you need to know about sub lines for SMAs

Subscription lines are used by many multi-investor funds, but what do you need to consider when applying a sub line to a single-investor account? Leon Stephenson of Reed Smith explores the key issues, together with Tom Smith and Felix Paterson of Debevoise & Plimpton

States could fall like dominoes in carry tax ‘fairness fix’

If one US state enacts legislation to tax private equity execs more heavily, a host of others could follow.

Ares to complete legal C-corp switch by year-end

The move will simplify tax reporting requirements and could see it list on other stock exchanges and further boost its investor base.

CFO Forum: Dealing with rising complexity and savvier LPs

More investment products means more opportunity, but it also means more longer hours, and the potential for more headaches for CFOs and COOs.

CFO Forum: Growing with the times

As private debt continues its rise, the role of the chief financial officer is evolving to keep pace, said speakers and delegates at the inaugural PDI CFOs & COOs Forum this week. That change has not been without growing pains, however. Among the topics on attendees’ minds were service outsourcing; technology; and the nuances of […]

Germany targeted for downside protection

Some investors want more exposure to the country based on its economic strength and ability to withstand a downturn, delegates at the Germany Forum 2018 heard.

The real cost of reform

Ares, Apollo, FS and other BDCs have spent millions since 2011 getting the BDC bill passed.

Fund finance: The rise of the hybrids

Fund finance facilities have traditionally been linked to uncalled LP commitments, but the focus is increasingly now on underlying portfolio investments. Leon Stephenson of Reed Smith explains the trend

FS board OKs leverage increase, Prospect cancels extra borrowing capacity – updated

The two companies are among the first managers to take action on the new statute, which raises the allowed debt-to-equity ratio from 1:1 to 2:1.

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