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Subscription-secured credit facilities: basic credit-related issues for secured lenders
- Moses & Singer LLP
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- USA
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- November 19 2010
Quite popular before recent economic dislocations, and beginning to re-emerge, is a credit facility that provides liquidity for an investment fund (a "Fund", particularly a so-called "opportunity fund"), on a faster basis than calling for capital contributions by the fund's equity investors - - typically governmental and private pension funds, insurance companies, endowment funds, and other institutional entities who make substantial commitments to pay subscribed capital
