Fund finance in London


Regarded as one of the top fund finance firms in the market’, Ashurst acts for both lenders and sponsors on the full spectrum of fund finance transactions, from traditional subscription and capital call lending to NAV and hybrid financing as well as ESG-linked facilities. On the lender side, Lee Doyle is a popular choice for large banks and credit providers across Europe and Asia. Offering ‘clear and practical advice’ is Robert Andrews, a partner that clients ‘can really rely on for sensitive decisions’. Nick Wong often handles NAV, hybrid and SMA financings as well as GP co-invest facilities on behalf of banks, insurance companies, funds and corporates. Doug Murning is noted as ‘excellent in the NAV facility space’.  With past international experience working in New York and Hong Kong, ‘standout partner’ Navdeep Benning is an expert in fund finance. Also noted is recently promoted partner Briony Holcombe.

Practice head(s):

Lee Doyle; Nick Wong; Navdeep Benning; Robert Andrews; Douglas Murning

Other key lawyers:

Briony Holcombe; Simin Van Daele; Alexander Short; Fiona Palamarczuk


‘Robert Andrews is someone we can really rely on for sensitive decisions. Briony Holcombe has spent significant time working for Rob, and we look forward to seeing her develop into a partner.’

‘The fund finance team at Ashurst works very well and closely with each other. They are very keen to assist and is always willing to put in extra efforts in discussing and addressing specific points of concerns we may have on each transaction. I feel that I can very comfortably rely on the team’s work, knowing that the Ashurst team will always watch out for our interest.’

‘We work very closely with Doug Murning. He understands our business very well and has good market knowledge. We can rely on him to advise us on how to achieve outcomes which are both legally prudent and commericially sensible. I feel that I can very comfortably rely on Doug’s advice, knowing that he and his team will always watch out for our interest.’

Key clients









Morgan Stanley

NatWest Markets

Nordea Bank

Partners Group





Silicon Valley Bank


Société Générale

Skandinaviska Enskilda Banken

Standard Chartered

Wells Fargo

Work highlights

  • Advised seven lenders including Barclays on a set of four facility agreements with an aggregate commitment size of €1.5bn made available to a leading direct lending fund.
  • Acted for Skandinaviska Enskilda Banken in relation to a multi-bank bridge facility agreement made available to Bridgepoint Direct Lending Fund III, Bridgepoint’s first credit fund launched since the acquisition of EQT’s credit fund business in 2020, utilising both levered and unlevered strategies and ESG margin features.
  • Advised the sponsor on hybrid (investor capital-call bridge and asset backed) facilities to a vehicle into which the sponsor and one of the world’s largest sovereign wealth funds are investors.

Cadwalader, Wickersham & Taft LLP

The ‘leading fund finance practice’ at Cadwalader, Wickersham & Taft LLP acts for banks, alternative lenders, GPs and managers on all types of transactions, from large subscription and capital call facilities to complex structures such as NAV financings. Key practitioners include practice co-head Samantha Hutchinson, ‘a leading individual that knows the market very well and brings great practicality and commercial skills to her deals’, and fellow co-head Nathan Parker, who is highly regarded as ‘friendly, clever and great to work with’. At the senior associate level, James Hoggett is noted for his expertise in asset-backed and hybrid facilities as well as GP co-invest structures.

Practice head(s):

Samantha Hutchinson; Nathan Parker

Other key lawyers:

James Hoggett; Mathan Navaratnam


‘Strong team which has recently diversified through investment in its capabilities in private funds. Led by Sam Hutchinson, they derive significant benefits through synergies from their very strong US offering, as well as a dedicated funds finance offering.’

‘Sam Hutchinson has in-deep market knowledge and is  supported by junior partners who are technically capable.’

‘Cadwalader is one of the top lender side practices in the fund finance market. The team has some of the largest lender clients in the market and covers all aspects of fund financing. The team is friendly, smart and great to work with.’

‘Sam Hutchinson is a leading individual in the market. She knows the market very well and brings great practical and commercial skills to her deals.’

‘Nathan Parker is growing his lender side practice and is friendly, clever and great to work with.’

‘A leading fund finance practice. They primarily acted for the lenders, with us as borrower. Professional team with a deep bench who is pragmatic.’

‘Nathan Parker is the key partner who has acted on deals many times and built strong understanding of our positions whilst obviously representing the interest of his clients. Personable and pragmatic.’

Key clients

Investec Bank

Raiffeisen Bank International

Standard Chartered Bank

Work highlights

  • Advised Investec on a €1bn secured note programme backed by subscription credit facilities with one of the UK’s largest insurers.
  • Acted for Raiffeisen on their latest capital call facility involving various price-linked sustainability and ESG metrics.

Clifford Chance LLP

With ‘unrivalled knowledge of the fund finance market’, Clifford Chance LLP covers the full range of fund finance trasactions, including subscription lines, capital call lending, NAV and hybrid facilities as well as ESG-linked financing. Working alongside the firm’s fund formation, tax and regulatory teams across Europe, Asia and the US, the practice is geared to handle the full life-cycle of funds, from formation to GP-led secondary restructurings. The group’s leadership is split between ‘knowledgeable and highly engaged’ Andrew Husdan, who acts for both lenders and sponsors on bridge lending, complex structured financings and leveraged acquisitions, and Nicola Wherity, who often advises on private securitisations and is an active member of the Fund Finance Association.

Practice head(s):

Andrew Husdan; Nicola Wherity

Other key lawyers:

Thea Vukasinovic; Jeremy Rayfield


‘Quality team that can work at pace on highly complex situations, with a strong ability to push back against lender counsel unreasonable demands.’

‘Andrew Husdan is highly commercial, approachable and knows how to deliver innovative solutions by combining his expertise in fund finance with leveraged finance and NAV financing.’

‘Unrivalled knowledge of the fund finance market.’

‘Would specifically like to mention Nicola Wherity andThea Vukasinovic as great individuals to work with.’

‘The Clifford Chance team has a great understanding of the needs and specificities of investment funds and is able to deliver a seamless experience across the funds financing and funds formation teams.’

‘Partner Andrew Husdan is knowledgeable and highly engaged. Senior Associate Jeremy Rayfield makes sure completion is achieved in a timely and smooth manner.’

‘Clifford Chance’s fund finance practice has a dedicated team which is active on both the lender and borrower side. The CC team is therefore involved in a large number of deals and has significant market intel. One of the strengths of the team is its diverse workforce with team members from across the globe and a large portion of senior female lawyers. CC is using technological support where possible which adds to the ease of co-operation.’

‘Andrew Husdan is the main lender side partner and a reliable, knowledgeable and diligent lawyer. He does not only understand the product and our approach but is flexible in providing innovative solutions. Andrew is also an excellent relationship manager on the borrower side leading to less friction and good outcomes for all parties.’

Key clients



Wells Fargo


BC Partners



State Street


Rothschild & Co


Stirling Capital

Capital Dynamics






Debevoise & Plimpton LLP

Highly rated for its ‘unrivalled market knowledge and technical acumen’Debevoise & Plimpton LLPhas been at the forefront of a number of fund finance innovations, including ESG margin ratchets, hybrid facilities and NAV facilities’. Under the leadership of acquisition, asset and structured finance experts Alan Davies, Pierre Maugüé, and the 'oustanding' Thomas Smith, the group often acts for high-profile clients across all fund types, including private equity, infrastructure, real estate, healthcare-focused, secondaries and venture funds, on large and mid-cap deals.

Practice head(s):

Alan Davies; Pierre Maugüé; Thomas Smith

Other key lawyers:

Almas Daud; Gregg Young


‘Unrivalled market knowledge and technical acumen.’

‘Thomas Smith is outstanding and probably the best fund finance lawyer in London.’

‘Very strong fund finance team, headed by Tom Smith who is supported by a very capable team of associates. Debevoise knows everything that is going on in the fund finance market, making it well placed to find solutions and achieve results.’

‘We have worked with Tom Smith for a number of years and he knows our business and key areas of concern very well, sees the big picture and focuses on ensuring we get the right commercial deal. Tom is able to convey detailed and technical advice in a clear and straight forward manner and has an in-depth knowledge of market trends and relevant precedents in the fund finance space. We consider Tom to be the leading borrower-side lawyer in the UK fund finance space.’

‘Debevoise is our go-to practice for high profile transactions that we have to close on time. Strong partner interaction and a supportive, goal-oriented culture are the key differentiating factors which always lead us back to Debevoise for big deals.’

‘Highly commercial and dynamic team who has been at the forefront of a number of fund finance innovations, including ESG margin ratchets, hybrid facilities and NAV facilities. The team has a deep bench of very talented associates who support Tom Smith and the broader partner group.’

‘Tom Smith, who leads Debevoise’s global fund finance practice, is the primary individual that I work with. He is extremely commercial, always balancing his knowledge and understanding of our risk appetite together with legal risks and market insights. He has spearheaded several fund finance innovations including ESG margin ratchets, hybrid facilities and NAV facilities. He also brings together experts and participants from across the industry through targeted informative events and is highly active at conferences. He is supported by a deep bench of stand-out associates such as Almas Daud and Gregg Young.’

Key clients

EQT Partners

EQT Exeter

Baring Private Equity Asia

Bridgepoint Credit

Morgan Stanley

Goldman Sachs

Glendower Capital

Work highlights

  • Assisted EQT with a €260m subscription line facility with a syndicate of four banks, which included ESG mechanics.
  • Acted for Baring Private Equity Asia on its $1.4bn subscription line facility, which included ESG targets and the potential to increase to $3.15bn.
  • Advised Bridgepoint Credit on four subscription line facilities, with each facility being a syndicate of between two or three lenders and including ESG metrics.

Reed Smith LLP

Housing a large team of dedicated fund finance lawyers, Reed Smith LLP is recognsied for its ‘deep and extensive fund finance knowledge across NAV, cap-call and MBO’. Benefiting from the firm’s cross-practice capabilities and international network across Europe, the US and Asia, the group is equipped to handle complex cross-broder mandates on behalf of major banks, alternative lenders, managers and private funds. Leading the group are Leon Stephenson and Bronwen Jones, who ‘have excellent commercial acumen and extensive legal knowledge’. Other key names are Colin Baker, who has extensive experience in advising real estate funds, and Kevin-Paul Deveau, who is well versed in alternative lending. Senior associate Kyrstin Streeter is noted for her expertise in cross-border deals.

Practice head(s):

Leon Stephenson; Bronwen Jones

Other key lawyers:

Colin Baker; Kyrstin Streeter; Natalie Sharkey; Chu Ting Ng


‘Highly knowledgeable and well recognised team. High quality delivery. Collegiate and collaborative. Technically accomplished and creative. Deep and extensive fund finance knowledge across NAV, cap-call and MBO.’

‘Leon Stephenson and Bronwen Jones have excellent commercial acumen and extensive legal knowledge.’

‘We value Chu and Leon’s commitment to serve our firm, and we always receive dedication and quality of work exceeding most other legal relationships in the European fund finance market.’

Addleshaw Goddard

With a strong portfolio of instituional lenders and private funds clients, Addleshaw Goddard handles both lender and borrower-side mandates. The firm continues to boost its fund finance capabilities with the opening in March 2022 of a new office in Luxembourg and new additons to the team, including managing associate Ahu Yalgin, formerly at Herbert Smith Freehills LLP, in September 2021. Leading the group is Jeremy Cross, who is highly regarded for his excellent knowledge of the market and willingness to think laterally’, Angus Gill, a popular choice for banks and alternative investment funds looking for assistance with capital call, NAV and GP financing, and Zoe Connor, who has ‘amazing transaction management skills and knows how to manage clients’ expectations and local counsel needs’.

Practice head(s):

Jeremy Cross; Angus Gill; Zoe Connor

Other key lawyers:

Joe Waldron; Ahu Yalgin


‘The team are approachable and easy to work with, providing sound commercial partner-led advice. Wouldn’t hesitate to recommend.’

‘Jeremy Cross has excellent knowledge of the market and a willingness to cut straight to the point which is invaluable. He is also always willing to think laterally and help find solutions for non-standard requests.’

‘Addleshaw consistently deliver on time and on budget. I particularly enjoy working together with the team and they always provide the right blend of partner level interaction to support their talented pool of associates. I always feel in safe hands with the AG team.’

‘Zoe Connor consistently demonstrates amazing transaction management skills and knows how to manage clients’ expectations and local counsel needs. Joe Waldron should be singled out for his deal management capabilities and responsiveness.’

‘AG has a well-established practice and the addition of Jeremy Cross makes the firm a leader in the fund finance space.’

‘The team is pragmatic, responsive and close to clients.’

‘Jeremy Cross’s pragmatism and experience are remarkable. He is always on top of the file and very much involved, with great commercial skills.’

Key clients


Work highlights

  • Advised Santander on a NAV finance facility to Gore Street, a listed energy storage fund.

DLA Piper

DLA Piper is retained by banks, alternative credit providers, managers, and special situations, private equity and infrastructure funds to handle the whole gamut of fund finance mandates. Leveraged real estate and structured finance transactions are areas of expertise for Paul Gray, who often acts on the restructuring of existing leveraged loans.

Other key lawyers:

Paul Gray


‘The team is commercial, astute and genuinely kind.’

Key clients

HICL Infrastructure

InfraRed Capital Partners

Hayfin Capital Management

Aviva Investors

Kyma Capital

Work highlights

  • Advised HICL Infrastructure on the amedment and restatement of its £400m revolving credit facility backed by investors’ committements.
  • Assisted Hayfin Capital Management with the execution, amedment and restructuring of existing financing in connection to its Special Opportunities Fund III, which reached its final close exceddings a £2bn target.
  • Acted for HICL Infrastructure on a new fund level resolving credit facility and letter of credit facility, which will support HICL’s existing and future infrastructure projects in construction.

Macfarlanes LLP

Benefiting from the firm’s strong capabilities in debt finance, investment funds and tax, Macfarlanes LLP‘s exceptional’ fund finance practice ‘provides sound advice across a broad spectrum of fund finance products’. The group is also noted for its expertise in credit fund leverage, which makes it a popular choice for credit funds. Leading the team are Andrew Perkins, who is very knowledgeable in the asset-backed facility space’ and the highly competent’ Richard Fletcher, who is well regarded for his excellent market knowledge’.

Practice head(s):

Andrew Perkins; Richard Fletcher


‘We utilise the fund finance team at Macfarlanes on all fund finance matters. They are excellent with both small amendments and full projects and we lean on them heavily to lead the process for us. Always a safe pair of hands.’  

‘They are very pragmatic and offer realistic quotes. We also appreciate the synergies between the fund and fund finance teams.’

‘Richard Fletcher is our main partner on the fund finance side and he is a trusted and knowledgeable source of information for us. Any fund finance question we have Richard will always know the answer to and has seen it before. This experience and pragmatic nature is an excellent combination and makes us feel we are in safe hands with any work required.’

‘The team is very diligent in their work and fully up-to-speed with market developments. They provide sound advice across a broad spectrum of fund finance products.’

‘Andrew Perkins is very knowledgeable in the asset-backed facility space and competently drafts, negotiates and explains complex provisions. He is a very ‘hands-on’ partner and is fully visible throughout a transaction.’

‘Richard Fletcher is a highly competent partner who has advised us on many subscription line facilities. He has excellent market knowledge and draws on that keenly in order to advise us.’

‘The Fund finance team at Macfarlanes is exceptional. They have strength and depth and have advised on a number of facilities for our funds in recent years.’

‘Richard Fletcher is an exceptional lawyer. Responsive, commercial, and very knowledgeable, Richard and his team are a pleasure to work with. He cuts through legal jargon and 500-page facility agreements to deliver concise advice so we can focus on the issues that matter. Happy to take the lead and steer us in the right direction to reach the best outcome. Also, very easy to work with and has a strong team.’

Key clients

Alchemy Special Opportunities Funds


Partners Group

Mayer Brown International LLP

Mayer Brown International LLP has a strong lender-side practice, regularly acting for major financial institutions on complex cross-border fund finance transactions, most notably hybrid and asset-backed facilities. On the borrower side, the group is retained by general partners and sponsors to handle fund formation mandates and investment transactions. The practice’s leadership is split between Aimee Sharman, whose expertise spans subscription lines, NAV and asset-backed financing and co-investment facilities, and Paul Tannenbaum, who is described as ‘a very capable partner that goes above and beyond for his clients’.

Practice head(s):

Aimee Sharman; Paul Tannenbaum


‘Paul Tannenbaum is a very capable partner that goes above and beyond for his clients. His ability to explain complex issues in a clear and concise manner is unrivalled.’

Simmons & Simmons

Simmons & Simmons acts for both lenders and sponsors on the whole range of fund finance transactions, including ESG-linked loans, NAV financing and hybrid facilities. Covering a wide range of asset classes, spanning infrastructure, renewable energy, real estate and venture and multi-strategy funds, is co-practice head Jen Yee Chan, who ‘knows how to achieve clients’ commercial goals in an efficient manner’. Co-practice head John Sayers is especially sought after to handle debt transactions and structured financings. Another key name is of counsel Tom Armstrong, who has extensive expertise in syndicated and bi-lateral lending, real estate and restructuring.

Practice head(s):

Helen Hagan; Jen Yee Chan

Other key lawyers:

Tom Armstrong


‘Very strong technically with very good market insight. We always feel we have the upper hand in negotiations with their thoroughness, focus and expertise.’

‘Jen Yee Chan knows how to achieve clients’ commercial goals in an efficient manner.’

‘Strong partner presence, and good communication across the team.’

Key clients

Raiffeisen Bank

Travers Smith LLP

Travers Smith LLP‘s renowned’ practice advises financial institutions, listed funds, and sponsors on major mid-market transactions. The team is often instructed to to handle subscription line and secondaries facilities, NAV lending and hybrid financing. In line with the group’s continuing growth, Jamie Parish was made partner in July 2021. Receiving strong praise from clients is practice head Danny Peel, who is very good at flagging the points which the client needs to consider and does so in a way which saves the client time’. Other key names in the team include Katie McMenamin and Charles Bischoff.

Practice head(s):

Danny Peel

Other key lawyers:

Katie McMenamin; Charles Bischoff; Jamie Parish


‘Danny Peel is extremely friendly. Nothing slips through the cracks but he doesn’t bombard you with irrelevant details. He is very good at flagging the points which the client needs to consider and does so in a way which saves the client time (not all firms do this).’

‘Excellent team, reliable on new facilities and renewals.’

‘Both Danny Peel and Katie McMenamin have deep product and sector know-how.’

‘The team is incredibly responsive and able to meet tight timelines to meet the clients’ needs. The lawyers are approachable and personable which is refreshing. They are also a pleasure to work with.’

‘Danny Peel is recommended.’

‘Travers Smith has a renowned legal practice in the fund finance space with a particular strength in the real estate sector. Its lender-side team comprises a number of well-known partners with a bench of associates in the wings.’

‘We have worked mostly with Danny Peel and Jamie Parish on a number of deals and experienced both lawyers to be of very good caliber. Danny’s attitude and knowledge of the docs make negotiations straight forward and help the process. Jamie is a diligent professional who is able to explain complex features in a simple way.’

Key clients

Investec Bank

The Royal Bank of Scotland International

Silicon Valley Bank

Banco Santander

Raiffeisen Bank


Wells Fargo

Bluegem Capital

Work highlights

  • Advised Royal Bank of Scotland International, Jersey Branch (RBSI), on a €210m sustainability-linked revolving credit facility provided by Europa Capital.
  • Assisted a listed fund with a NAV facility made available by Barclays.
  • Acted for Royal Bank of Scotland International Luxembourg (RBSI) on a €300m subscription line made available to NREP Income+ Fund, a real estate fund managed by NREP.

Allen & Overy LLP

Banks, alternative credit providers and investment fund managers across an array of asset classes, including private equity, distressed debt, infrastructure and real estate, frequently turn to Allen & Overy LLP for assistance with the full range of fund finance transactions. Co-practice head Greg Brown is especially sought after to handle revolving credit facilities, subscription lines and capital call lending. Co-practice head Fiona Cumming often advises financial institutions on ESG-linked loans, syndicated lending and hybrid facilities.

Practice head(s):

Greg Brown; Fiona Cumming

Key clients




IDG Capital



State Street Bank

Bank of Ireland

Cain International

Marguerite Fund

Work highlights

  • Advised Hines European Core Fund, a sub-fund of Hines Real Estate Master FCP-FIS, on a €150m corporate-style unsecured revolving credit facility agreement to be used for general corporate purposes.
  • Assisted an international growth investment fund in connection with a net asset value (NAV) facility.
  • Acted for the lenders on a subscription line facility agreement for Allianz Private Credit Fund II.

Fried, Frank, Harris, Shriver & Jacobson LLP

A popular choice among leading asset managers and private equity funds, Fried, Frank, Harris, Shriver & Jacobson LLP is rated for its ‘ability to work on all types of financings, including subscription lines, NAV finacing and hybrid facilities.’ Key London-based practitioners include Kathryn Cecil, who is noted for her ‘commerical acum, empathy and work ethic’ and often advises on subscription, leveraged and asset-backed financing, and Jons Lehmann, whose expertise spans leveraged buyouts and real estate finance. Also recommended is special counsel Graham Greenwood.

Practice head(s):

Christian Nahr

Other key lawyers:

Kathryn Cecil; Jons Lehmann; Graham Greenwood


‘Ability to work on all types of financings, including subscription lines, NAV finacing and hybrid facilities.’

‘As lead counsel, Fried Frank is in the driver’s seat, and they clearly identify and address blocking foreign law issues. In similar situations, other professionals might tend to ignore Luxembourg law aspects, viewing them as non essential until they appear as roadblocks. Fried Frank anticipates these aspects from the outset and works with Luxembourg counsels to resolve them early on in the deal.’

‘Kathryn Cecil has excellent knowledge of the fund financing market. Being both knowledgeable and practical, she understands the intricacies of fund finance deals and is thus able to provide a true value-added service to clients.’

Key clients


Goldman Sachs

iCON Infrastructure

Palatine Private Equity

Work highlights

  • Advising a major private equity fund on fund financing matters, including subscription and revolving credit facilities.
  • Acted for BlackRock on fund financing matters, including asset-based leveraged and revolving credit facilities.
  • Assisted iCON Infrastructure with fund financing matters, including subscription facilities.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP is noted for its strong sponsor-side practice, which attracts mandates from leading European and US-based private funds operating across a wide range of asset classes, including infrastructure, buyouts, real estate, tech, debt and secondaries. Receiving strong praise from clients is practice head Susannah Amini, who is rated for her practical approach’ and ‘experience across the full range of fund financing products, including capital calls, NAV lending, USPP debt and GP facilities’. Also recommended is Parisa Clovis, who focuses on sponsor-side representations.

Practice head(s):

Susannah Amini

Other key lawyers:

Parisa Clovis


‘Susannah Amini is very knowledgeable and has good experience across the full range of fund financing products, including capital calls, NAV lending, USPP debt and GP facilities.’

‘Susannah has a practical approach with a good feel for what is achievable. She does not raise frivolous points, with real focus on what is commercially material whilst maintaining pressure to get the best result for us.’

‘Their practical approach leads to high quality advice delivered quickly. The approach not only provides a better result than other lawyers we have used, but also leads to lower fees due to efficiency.’

‘Susannah has been available on demand, with an exceptional willingness to carve out time, no matter how anti-social, to keep pressure on processes.’

Key clients

Apax Partners

Basalt Infrastructure

EMR Capital

Ergon Capital

GHO Capital


Henderson Park


Highland Capital



L Catterton

Lion Capital

Montagu Private Equity

Nordic Capital

PAI Partners


Trilantic Capital Management

Vitruvian Partners

Work highlights

  • Advised Inflexion Buyout Fund VI , a 2022 -vintage fund with £2.5bn in commitments, on an ESG-linked capital call facility.

Paul Hastings LLP

Paul Hastings LLP advises leading banks, institutional investors and sponsors on an array of cross-border transactions, including umbrella subscription facilities, hybrid capital calls and NAV financing. The team collaborates with the New York office and the firm’s regulatory and tax practices, making it well positioned to deal with matters related to hybrid funds and other complex structures. The group is led by Cameron Saylor, who is dual qualified in England and New York and focuses on CLOs and revolving loans, Christian Parker, structured finance expert Diala Minott, and Sierra Taylor, who is especially sought after to handle NAV and hybrid facilities.

Practice head(s):

Sierra Taylor; Diala Minott; Christian Parker; Cameron Saylor


‘Great industry and sector knowledge, efficient and reliable, quick turnaround and competitive pricing.’

Key clients

Credit Suisse

Raiffeisen Bank International

United Overseas Bank

Deutsche Bank

Intermediate Capital Group

Ninety One




CVC Capital Partners

Angelo Gordon


MML Capital Partners

Pantheon Ventures

MVM Partners

Melford Capital

NorthEdge Capital

Blackrock Real Assets

MacKay Shields EUP ope Investment Management


Ostrum Asset Management


Goldman Sachs

MeDirect Bank

Barclays Bank

Northwoods EUR opean CLO Management

PineBridge Investments

Morgan Stanley

Och Ziff

Haynes and Boone CDG, LLP

With extensive expertise in structured products, refinancings, securitisation and real estate finance, Haynes and Boone CDG, LLP acts for banks, alternative credit providers, fund managers and investors on ESG-linked facilities, subscription and capital call lending, and hybrid financing. The team is led by Emma Russell, who is sought after to handle transactions across a wide range of asset classes, including private equity, real estate, secondaries, and infrastructure.

Practice head(s):

Emma Russell


‘Full availability and expertise in the fund finance space.’

Key clients

Raiffeisen Bank International

Danske Bank

Work highlights

  • Acted for Raiffeisen Bank International and Danske Bank on a club deal under which a capital call facility linked to ESG metrics was provided to Capman Buyout XI SCSp.

Proskauer Rose LLP

Combining expertise in finance, private credit and private investment funds, the fund finance team at Proskauer Rose LLP is often sought after to handle cross-border transactions, including subscription and capital call facilities, NAV structures and hybrid financing. Receiving strong praise from clients is practice head Cameron Roper, who is rated for ‘the quality of advice he provides, the way he explains legal points and the quick replies’ and described as a ‘go-to lawyer for anything fund finance related’.

Practice head(s):

Cameron Roper; Ron Franklin


‘Strong team with commercial focus, availability and accurate cost scoping and billing.’

‘Cameron Roper is a stand-out member of the team. He provides clear advice and is available at all times.’

‘Deep bench strength, excellent know-how and a good platform built around servicing fund clients that can really help to unpick thorny issues on transactions.’

‘Very commercial, technically strong, efficient and solution focused.’

‘Cameron Roper is simply excellent. He always provides clear and effective guidance. He knows when to give up points and when to dig in. He is our go-to lawyer for anything fund finance related.’

‘I have worked with Cameron Roper multiple times over the past few years. My team and I are always very impressed with the quality of advice he provides, the way he explains legal points and the quick replies.’

‘Persistence and dedication to getting the work done. They have a good sound commercial understanding of the issues around fund financing.’

‘We work almost exclusively with Cameron Roper. His persistence and dedication to getting the work done is commendable. He is easy to deal with and commercially minded.’

Key clients

EMK Capital

Tenzing Private Equity

One Peak


Schroders Capital


AnaCap Financial Partners