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Stifel Fund Banking Closes $150,000,000 Bilateral Subscription Line of Credit
Stifel Fund Banking has provided a $150,000,000 Subscription Line of Credit to a fund manager focusing on unique situation secondary market transactions. The facility is primarily designed to allow them, among other things, to bridge timing between portfolio investments and capital calls from LPs in their latest fund. The deal was structured with a simple blanket advance rate which includes callable capital from all LPs equally. Availability under the credit facility dynamically scales up as the fund is raised and maintains availability late into the fund's life once LP capital has been substantially called.
Stifel Fund Banking
Stifel Fund Banking is a division of Stifel Bank that specifically focuses on subscription lending and other fund-related banking services for fund managers of all types. The group has made over $5B in Subscription Line of Credit commitments across more than 60 Borrowers – both on a bilateral basis and as a syndicate participant. Stifel Bank is a wholly owned subsidiary of Stifel Financial Corp., a global financial services firm with a distinguished history of providing securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, institutions, corporations, and municipalities.
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Stifel Bank | 787 7th Avenue | New York, New York 10019 | (877) STIFEL-1 | www.bankwithstifel.com
Stifel Bank, Member FDIC, Equal Housing Lender, NMLS# 451163, is affiliated with Stifel Bank & Trust, Member FDIC, Equal Housing Lender, NMLS# 375103, and Stifel, Nicolaus & Company, Incorporated, Member SIPC & NYSE, each a wholly owned subsidiary of Stifel Financial Corp. Unless otherwise specified, references to Stifel may mean Stifel Financial Corp. and/or any of its subsidiaries. Unless otherwise specified, products purchased from or held by Stifel are not insured by the FDIC, are not deposits or other obligations of Stifel Banks, are not guaranteed by Stifel Banks, and are subject to investment risk, including possible loss of the principal.
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