Firm News | November 1, 2021
On April 30, 2020, the Federal Reserve Board (the “Fed”) released new term sheets for the $600 billion Main Street Lending Program, which was initially announced on April 9, 2020. In addition to changing terms to the two existing facilities, the Main Street New Loan Facility and the Main Street Expanded Loan Facility, the Fed…
Client Alerts | May 4, 2020 | Hedge Funds | Private Equity Funds | Securities and Corporate Finance
On April 24, 2020, the Department of Treasury (“Treasury”) issued a new interim final rule (the “Interim Final Rule”) and guidance, which materially changes portions of the existing guidance on the paycheck protection loan program (“PPP”) in a way meaningfully detrimental to hedge funds and private equity funds in particular. You can find our previous…
Client Alerts | April 24, 2020 | Securities and Corporate Finance | Hedge Funds | Private Equity Funds
Kleinberg Kaplan Partner Jared R. Gianatasio discussed the Federal Reserve’s new Term Asset-Backed Securities Loan Facility (“TALF”) in an interview with Debtwire. Jared shares his thoughts on possible further updates to the program that investors should monitor as TALF moves towards implementation. Read the full article, “TALF funding expected to flow by mid/late May; further expansion…
Firm News | April 16, 2020 | Special Situations and Credit | Private Equity Funds
On April 9, 2020, the Federal Reserve Board (the “Fed”) updated its term sheet of the Term Asset-Backed Loan Facility (“TALF 2.0”) that it authorized on March 23, 2020. The key changes include: updates to the definition of eligible borrower, additions to the types of eligible collateral, changes to loan pricing, and the release of…
Client Alerts | April 10, 2020 | Special Situations and Credit | Private Equity Funds
Private funds associate Rita Fitch to serve on inaugural junior advisory board comprised of rising stars; Women in Funds looks to promote female leadership in private investment funds space Premier boutique law firm Kleinberg Kaplan announced that private funds associate Rita Fitch has been named to the junior advisory board for WOMEN IN FUNDS, a…
Firm News | March 30, 2020 | Hedge Funds | Private Equity Funds
On March 18, 2020, the Commodity Futures Trading Commission (the “CFTC”) voted unanimously to extend the uncleared swap initial margin compliance timeline for financial entities with smaller swap portfolios from September 1, 2020 to September 1, 2021. Phase 6 Compliance Group The newly created “Phase 6” compliance group will provide many private funds and other…
Client Alerts | March 20, 2020 | Derivatives | Private Equity Funds | Hedge Funds
With the increasing concerns surrounding the impact of COVID-19 around the world, global financial markets are facing a unique set of difficulties. Fund managers, family offices and other buy-side market participants should consider reviewing their counterparty trading and brokerage arrangements to understand the impact of these events on their trading portfolios and their counterparties. Below…
Client Alerts | March 18, 2020 | Derivatives | Private Equity Funds | Hedge Funds
On January 1, 2020, amendments to the Financial Industry Regulatory Authority, Inc. (“FINRA“) Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and Rule 5131 (New Issue Allocations and Distributions) came into effect [1]. Per the U.S. Securities and Exchange Commission (“SEC“), the rule changes “exempt additional persons and offerings, modify…
Client Alerts | February 11, 2020 | Hedge Funds | Private Equity Funds
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