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To review and analyze the key structural considerations secondaries funds and funds of funds must consider when negotiating credit facilities secured by limited partnership (LP) interests.

This article provides an overview of the primary issues that arise with credit facilities secured by LP interests. These issues include the ability to provide a perfected security interest in LP interests, understanding a credit facility’s borrowing base and advance rates, and the potential impact of certain types of events of default.

Secondaries funds and funds of funds have raised significant amounts of equity capital in recent years. These funds acquire portfolios of LP interests and are increasingly deploying leverage to amplify the returns of these portfolios and provide these funds with a limited degree of liquidity. The leverage is secured by the LP interests. The credit facilities that the funds are structuring and negotiating present a host of issues unique to this type of fund finance. Provided the facilities are properly structured and negotiated, secondaries funds and funds-of-funds borrowers will be able to use these facilities to help meet investment-return objectives and address important portfolio-management needs.

Secondaries funds and funds of funds can benefit from leverage secured by their portfolios of LP interests. This article provides a road map for borrowers when structuring and negotiating these credit facilities.

Practical analysis from a premier corporate law firm on the issues presented by the increasing use of credit facilities by secondaries funds and funds of funds.

Environmental degradation, economic and political threats along with ideological extremism necessitate a global redirection toward sustainability and well-being. Since the survival of all species (humans, animals, and plants) is wholly dependent on a healthy planet, urgent action at the highest levels to address large-scale interconnected problems is needed to counter the thinking that perpetuates the “folly of a limitless world.” Paralleling critical societal roles played by universities – ancient, medieval, and modern – throughout the millennia, this chapter calls for all universities and higher education institutions (HEIs) generally – estimated at over 28,000 – to take a lead together in tackling the pressing complex and intractable challenges that face us. There are about 250 million students in tertiary education worldwide rising to about 600 million by 2040. Time is not on our side. While much of the groundwork has been done by the United Nations (UN) and civil society, concerns remain over the variable support given to the UN-2030 Sustainable Development Goals (SDGs), especially in light of the negative impact of global biodiversity loss on achieving the UN-2030 SDGs. Ten propositions for global sustainability, ranging from adopting the SDGs at national and local levels to ensuring peaceful uses of technology and UN reforms in line with global socioeconomic shifts, are provided for consideration by decisionmakers. Proposition #7 calls for the unifying One Health & Well-Being (OHWB) concept to become the cornerstone of our educational systems as well as societal institutions and to underpin the UN-2030 SDGs. Recognizing the need to change our worldview (belief systems) from human-centrism to eco-centrism, and re-building of trust in our institutions, the chapter argues for the re-conceptualization of the university/higher education purpose and scope focusing on the development of an interconnected ecological knowledge system with a concern for the whole Earth – and beyond. The 2019 novel coronavirus has made clear that the challenges facing our world cannot be solved by individual nations alone and that there is an urgency to committing to shared global values that reflect the OHWB concept and approach. By drawing on our collective experience and expertise informed by the UN-2030 SDGs, we will be in a much stronger position to shape and strengthen multilateral strategies to achieve the UN-2030 Transformative Vision – “ending poverty, hunger, inequality and protecting the Earth’s natural resources,” and thereby helping “to save the world from itself.”

This study focuses on the factors that determine the readiness of hotels to implement customer relationship management (CRM) in hotels within the context of Ghana. The sample consisted of 292 employees (restaurant managers, customer service officers, customer relations' officers, and marketing managers) from 3- to 5-star hotels. The study adopted a quantitative deductive approach to collected data using cross-sectional survey, which was analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings revealed that management change initiatives and culture have significant impact on organizational readiness to implement CRM in hotels, specifically Ghana. Also, the organizational culture partly mediates management change initiatives and organizational readiness to implement CRM activities. On the other hand, use of technology proved not to mediate management change initiatives and organizational readiness as the relationship proved not to be significant. Also, culture and use of technology have not mediated management change initiatives and organizational readiness as the indirect path proved not to be significant. The outcomes have useful implications for CRM adoption by hotel managers.

Hazel Kyrk, one of the first women economists at the Economic Department of the University of Chicago and author of A Theory of Consumption (1923), conducted groundbreaking research for the Bureau of Home Economics of the US Department of Agriculture and the Bureau of Labor Statistics. Kyrk made a considerable contribution to the development of standards for a “decent living,” the Consumer Price Index, and the conceptualization of what would later turn into the definition of the poverty line. This chapter evaluates Kyrk’s use of eugenic notions of gender and race that were widely used in Kyrk’s day. This chapter shows that eugenic reasoning impacts Kyrk’s theoretical work only superficially but does structure her research on consumption standards through her focus on the white middle-class family as the unit of analysis for consumer behavior. This chapter also makes clear that the American Institutionalist approach to consumer behavior, rather than marginalized and side-tracked due to a lack of theoretical progress, was relegated to the margins of economics science together with the research of women economists into Home Economics departments and policy research at government institutions.

This issue is a selected bibliography covering the subject of leadership.

A LEICESTER firm of shoe manufacturers recently cut down its basic patterns from between 30 and 40 to six. The effect was to increase production by 2,400 pairs a week and reduce work in progress and the stock of material in hand by a third. There has also been an increase in the earnings of operatives and a saving of a week in the time between planning and despatching orders.

The emphasis on outcomes rather than process is an area that is receiving significant attention across the delivery of public sector services, and the question ‘so what?’ is increasingly being asked of service providers. With service user self‐direction being the focus of both provision and commissioning over the coming years, there will be an increasing need to justify the delivery and development of social care in terms of the end result. Strong leadership and vision is required across the public sector if this change, in both organisational culture and service user expectation, is to be achieved.Leadership as both a competency and an organisational function has been well researched within health and social care. The literature largely points towards the need for clarity and strength within the strategic vision, especially when considering the management of change and multifaceted partnerships, both of which are crucial to the delivery of social care outcomes. The actual detail of the outcome framework, and the means by which it can be measured and quantified, is still an area of debate, and as such the aim here is to highlight some of the benefits and barriers that may be faced as the reform of the social care system evolves, with a specific focus on the impact that leadership can have on the delivery of an outcome‐focused mental health social care serviceThe analysis of outcome‐focused organisations is a relatively new concept in health and social care, and as such this paper seeks to debate the evidence in terms of whether leadership contributes to better service user outcomes in mental health social care. Dynamics within organisations, professions and with service users are all key considerations in the achievement of positive outcomes, and the role of the leader is to empower the staff group to power share and move towards co‐production in order to embed choice, control and service user contribution in the overall philosophy and culture of mental health service provision and developments.The overall conclusions of this paper are that leadership is important in terms of shaping services, ensuring governance and promoting innovation, and as a result it is possible to suggest that leadership and positive outcomes do have a direct correlation.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Reviews a range of theories, concepts and learning approaches that are relevant to the development of professionals. Goes on to take a look at how professionals actually learn, once they are in practice. The latter is based on empirical research conducted across 20 professions. Reports on the range of experiences and events that practitioners had found particularly formative in helping them become fully competent professionals; this point often not having been reached until long after their formal professional training had ended. An attempt is made to relate the formative experiences reported to particular theoretical approaches to learning. The experiences are classified into a number of general kinds of “learning mechanism” and these are placed within a “taxonomy of informal professional learning methods”. The results of the research should be of use both to professional developers and to individual professionals. They should assist developers in their planning of placements or post‐formal training. They should help individual professionals to maximise their professional learning, by seeking out particular kinds of experience and making the most of those that come their way.