An outline of the key characteristics of equity bridge facilities (sometimes referred to as capital call facilities) provided to private equity funds and the main issues which the lender's lawyers need to review in the documentation relating to the fund.

In particular, this note considers the importance of understanding the fund's structure (often a limited partnership), the specific provisions (for example, representations, undertakings and events of default) that are included in facility agreements (or loan agreements) for equity bridge facilities to funds and the security a lender will take over the general partner's rights to draw down the limited partners' capital contributions to the fund.