Rumors of the death of the Entity have been greatly exaggerated. They are bringing in the lawyers...
Top US securitisation practice Sidley Austin has secured a high-profile instruction to advise alongside rival Mayer Brown on the cutting-edge $80bn (£38bn) ‘superfund’ designed to restore confidence in the credit markets, as firms look to secure roles on the process.
The fund, created by Citi, Bank of America and JP Morgan Chase, was announced at the end of last month and aims to halt a further drop in market prices by offering to buy assets from structured investment vehicles (SIVs), helping them to avoid dumping securities.
Sidley edges in to advise on $80bn ‘superfund’ creation [LegalWeek.com]