FUNDed – September 2025
The 2025 edition of FUNDed highlights key trends and deal structures in global fund finance, using data from the first half of the year. It is the essential guide for industry professionals navigating a complex market.
- Published
- in Analysis & Insights
Discover the Essential Resource for Fund Finance Professionals: FUNDed – An Industry Analysis for the Global Fund Finance Market 2025
Drawing on our extensive experience advising on some of the most significant transactions in the global fund finance market, the latest edition of FUNDed delivers a comprehensive analysis of the sector’s key developments, market trends and innovative deal structures. With enhanced data coverage and expert commentary, FUNDed is the definitive guide for fund managers, lenders, investors and industry professionals navigating the evolving landscape of fund finance.
FUNDed: Setting the Standard for Global Fund Finance Analysis
As of mid-2025, the global fund finance market continues to demonstrate remarkable resilience and adaptability, with robust activity across both the US and European markets. Our refreshed approach to FUNDed means each edition now features deeper analytics, expanded regional data and actionable insights, empowering you to make informed decisions in a dynamic environment.
Key Insights from the 2025 Edition
- US Market Resilience: Despite external shocks, the US fund finance market remains strong, with over 120 new financings closed by our Cayman Islands office alone in the first half of 2025. Subscription lines have seen particularly high activity, reflecting continued demand even amid challenging fundraising conditions.
- European Market Momentum: The European fund finance market has experienced a surge in activity, driven by interest rate reductions and sustained demand for liquidity solutions. The outlook for the remainder of 2025 remains positive, with further growth anticipated as market conditions evolve.
- NAV Facilities and Ratings: Net Asset Value (“NAV”) facilities are increasingly central to fund finance, especially for private equity and alternative investment funds. The introduction of new rating methodologies, such as S&P Global’s (“S&P”) 2024 framework for subscription lines, is shaping risk assessment and structuring practices across the industry.
- Securitisation and Syndicated Lending: Innovative transactions, including landmark capital call securitisations in Luxembourg, are expanding the toolkit available to fund managers and lenders. Japanese megabanks have also cemented their position as leading arrangers in the US syndicated loan market, reflecting shifting global lending dynamics.
- Jurisdictional Developments: Recent amendments to Jersey Private Fund regulations and the growing use of bankruptcy remote Cayman Islands entities are enhancing the attractiveness and flexibility of these jurisdictions for fund finance transactions.
Looking Ahead: The Future of Fund Finance
The global fund finance market is exceptionally well-positioned to navigate ongoing macroeconomic uncertainty and regulatory change. As interest rate environments shift and investor needs evolve, fund finance products, particularly NAV facilities and subscription lines, will remain vital tools for managers seeking liquidity and flexibility. The continued innovation in deal structures, securitisation and risk management underscores the industry’s commitment to meeting the needs of a sophisticated and global client base.
Read and Explore FUNDed – An Industry Analysis for the Global Fund Finance Market 2025
Access comprehensive data, expert analysis and practical guidance to help you stay ahead in the fast-moving world of fund finance. Whether you are a fund manager, lender, investor, or service provider, FUNDed is your essential resource for understanding the latest trends and preparing for the future of fund finance worldwide.
Your feedback is invaluable as we continue to innovate and deliver the intelligence you value most. Having evolved into a data-rich analytical platform, FUNDed now captures a broader spectrum of market information than ever before, and, with this enhanced data foundation, you can look forward to the next edition in early 2026, packed with holistic 2025 deal statistics, deep-dive analysis and practical guidance to power your strategic decisions for the year ahead.
