Three Asset-Based Financing Options for Private Funds: Total Return Swaps, Structured Repos and SPV Financing

“Three Asset-Based Financing Options for Private Funds: Total Return Swaps, Structured Repos and SPV Financing,” a two-part series, by Corporate partner Fabien Carruzzo and associate Daniel King was published in The Hedge Fund Law Report on April 5 and 12, 2018. The first part examines the main features of TRS financing, and highlights the comparative advantages and disadvantages to private funds of using this structure, taking into consideration the flexibility, the complexity of the legal documentation and the level of asset protection afforded by the structure. The second article provides a comparative overview of structured repo financing and SPV financing transactions.