Albert Tan, partner and co-chair of the Global Capital Commitment Financing Group at Haynes and Boone, LLP, moderated the “What’s New in Global Fund Finance” panel at the 7th Annual Global Fund Finance Symposium, considered the premier Funds Finance event in the United States.
Held on March 14 at the Grand Hyatt in New York, NY, the event included panels and speakers from industry experts addressing many of the key developments and trends in the subscription credit facility and fund finance markets to more than 400 attendees.
Joining Tan on the panel were Steven Cohen, head of sponsor and non-bank finance at The PrivateBank; Thomas Draper, partner at Ropes & Grey LLP; Mark Gilles, group manager and senior vice president of equity fund services at Comerica Bank, N.A.; Rebecca Shen, executive director of loan syndications at Standard Chartered Bank; Cheyenne Sparrow, vice president of the real estate private equity group at Morgan Stanley; and Tom Walker, partner and chief financial officer at Riverstone Equity Partners.
Tan and his fellow panelists addressed many topics, including: (i) the evolving use of subscription financing by PE funds, from traditional facilities to NAV, hybrids and preferred equity facilities; (ii) the more recent acceptance by lenders of structuring subscription financing to single separate accounts and co-investment vehicles; (iii) specials credit and structure considerations for facilities to GPs, family office and HNW investors; (iv) investor considerations, performance and transparency of usage of subscription financing; and (v) the impact on subscription financing with potential financial regulatory reform.
At the firm, Tan’s practice focuses on capital commitment subscription financing, fund finance and foreign direct investments, with special attention on cross-border subscription financings in Asia, North America, Europe and Latin America. He also currently sits on the firm’s board of directors and co-chairs the International Practice Group. Tan is a graduate of Southern Methodist University School of Law and Georgetown University Law Center; and is recognized by the Euromoney Expert Guide as a leading practitioner in international private equity.