The LCP Capital Fund
IAS 10 Conduit Deconsolidation
The company's flagship fund, The LCP Capital Fund, LLC, has invested an aggregate of $110 million of subordinated capital in 17 conduits across the United States, Europe, and Japan with peak total assets of over $67 billion. The Fund continues to operate with European bank conduit sponsors who are operating under IFRS accounting standards. As the control party under IAS rules, LCP approves all investments, amendments, and renewals through a process that allows the sponsor to manage its business in a commercially viable manner while achieving its corporate accounting objectives. The Fund's investors are primarily U.S. and European insurance companies.
The LCP Dakota Fund
FAS 167 Deconsolidation Control Party Services
LCP successfully structured a transaction and raised capital which enabled a U.S. national financials institution to deconsolidate approximately $1 billion of credit card master trusts. Institutional investors participate through the purchase of private unrated and rated debt securities from a LCP sponsored trust. LCP provides ongoing control party services to the securitization vehicle.
The LCP SSF Fund
LCP raised capital for a fund to support approximately $220 million of structured insurance settlements and state lottery receivables held by a German bank. LCP also coordinates tax and accounting services on behalf of the fund membership.