United States: Fund Finance

On March 19, 2026, the federal banking agencies issued a package of proposed changes to the regulatory capital requirements for banking institutions of all sizes, from the largest GSIBs and super-regional banks to community banks. This package of proposals (the “Proposed Rules”) is a second full attempt at implementing the 2017 “Basel III Endgame” international framework—following the agencies’ initial package of proposals in July 2023 (the “2023 NPR”)—to better reflect credit, trading and operational risk in the calculation of regulatory capital ratios.

Two prestigious law firms, Hogan Lovells and Cadwalader Wickersham & Taft, have received partner approval to merge, creating a global legal powerhouse with approximately 3,100 lawyers across key G20 markets. The combination unites Cadwalader's market-leading finance and capital markets expertise with Hogan Lovells' regulatory and disputes capabilities, positioning the new firm among the world's largest by revenue and establishing significant presence in Washington D.C., London, and New York.

Markets have recently been experiencing heightened volatility and credit availability has tightened, which has placed valuation practices under unusual pressure from regulators and investors.

Every contract is subject to an implied duty of good faith and fair dealing pursuant to principles established under common law, state statutes, and, with respect to certain contracts...

Lately, all eyes seem to be on evergreen funds. Among private credit funds, they have emerged as one of the hottest fund formats in recent years – but despite their growing popularity...

In a recent post-trial memorandum opinion, the Delaware Court of Chancery ordered specific performance of capital calls issued under a fund's limited partnership agreement...

This Legal Update explores why, in order for an underlying loan to be included in a warehouse facility's borrowing base, the underlying loan's documentation...

The Investment Company Institute recently published a white paper detailing operational, governance, and disclosure considerations for industry stakeholders in implementing a structure...

With such a direct impact on revenue, it's easy to understand why attracting and retaining key sales talent is critical for any business with aspirational growth goals.