
Timothy E. Powers
Managing Partner
Haynes and Boone, LLP
Texas, U.S.A.
WSG Leadership
WSG Boad of DirectorsThe Subscription Line is Fine
Haynes and Boone, LLP, May 2017
A recent article in the Financial Times caused some raised eyebrows in the fund finance market by implying that subscription line facilities create substantial risks to banks and investors. The article references a memo on Oaktree Capital’s website by Howard Marks, Oaktree’s co-chairman and founder, in which he discusses some of the perceived costs and risks associated with such facilities. If readers dig into the memo, they will find that Mr...
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