As some private fund managers have looked to finance illiquid and esoteric assets, lenders have developed financing structures that go beyond the more traditional forms of prime broker (PB) financing and secured loans. A recent webinar presented by the Hedge Fund Law Report provided an overview of the following types of financing arrangements used by private funds: total return swap (TRS) financing, structured repurchase agreements (repos), PB financing, special purpose vehicle (SPV) financing and subscription credit facilities. The program was moderated by Kara Bingham, Associate Editor of the Hedge Fund Law Report, and featured Fabien Carruzzo, partner at Kramer Levin; Matthew K. Kerfoot, partner at Dechert; and Jeff Johnston, managing director at Wells Fargo Securities, LLC. This article, the second in a two-part series, provides an in-depth discussion of structured repos, SPV financing and subscription credit facilities. The first article explored basic principles of financing arrangements and provided an overview of PB financing and TRS financing. For more on structured repos and SPV financing, see “Three Asset-Based Financing Options for Private Funds: Total Return Swaps, Structured Repos and SPV Financing (Part Two of Two)” (Apr. 12, 2018). See also our three-part series on understanding subscription credit facilities: “Popularity and Usage Soar Despite Concerns” (Mar. 1, 2018); “Principal Advantages and Key Points to Negotiate” (Mar. 8, 2018); and “Key Concerns Raised by Investors and the SEC” (Mar. 15, 2018).