Has Covid-19 Flattened The Fund Finance Curve?

Leading into the first quarter of 2020, the preceding 12 months saw a rapid increase in the demand of the size, complexity and frequency of fund finance transactions. While the private nature of fund finance transactions makes hard data to quantify, the increase is difficult to compile, the anecdotal evidence among practitioners, lenders and sponsors is overwhelming.

Fast forward to May 2020 and the world outside our windows is a very different place. Most of us who work in professional and financial services were able to quickly adapt to the "new normal" but there has inevitably been an impact on deal volume and, perhaps more noticeably, timing and pricing.

All this notwithstanding, the anecdotal message remains the same, albeit with a few small adjustments: