FFA Event

7th Annual European Fund Finance Symposium

Name: 7th Annual European Fund Finance Symposium
Start: 2023-06-19T00:00:00Z
End: 2023-06-19T00:00:00Z
Location: QEII Centre

June 19, 2023

London

Event Pictures

Registration for the 2023 European Fund Finance Symposium is currently sold out. Should tickets become available, please contact info@fundfinanceassociation.com to be added to a waitlist. While not guaranteed, if we are able to reopen registration, we will be in contact with those on the list to provide further details to register.

The Fund Finance Association’s annual symposiums bring together investors, fund managers, bankers and lawyers for education and networking within the fund finance market. FFA hosts annual events in Miami, London, and Asia. The 2022 Symposiums were attended by over 1,700 industry professionals representing over 500 firms.

Sukhvir Basran

Cadwalader, Wickersham & Taft

Fund Finance ESG Trends and Recent Developments

2:30 PM | 2023-06-19

Sukhvir Basran

Partner, Financial Services and ESG | Cadwalader, Wickersham & Taft

Sukhvir Basran is a partner in Cadwalader's Financial Services and ESG Groups. Combining her substantial experience as a banking and finance lawyer, Sukhvir advises and works with financial institutions on incorporating innovative financing and impact investment structures anchored in rigorous impact outcomes into mainstream transactions. She advises clients on ESG strategies, policies, disclosure and reporting, ESG-related transactions and products as well as integration of ESG into investment processes and systems. Sukhvir plays an active role in developing the sustainable finance sector through the creation of strong partnerships and collaborations. Her work extends beyond purely legal including enabling her clients to engage with their customers and clients to create sustainable investment business models. Sukhvir believes that legal advice needs to be provided in the context of the wider ESG landscape, mainstream and impact investing, and she works closely with trade associations and industry bodies, standard setters, and data providers to deliver an end-to-end service for clients. She is involved with several organizations and financial institutions in the Gender Lens and diversity investing space to develop products and deepen engagement to promote gender equality outcomes. She is a member of the LMA’s ESG committee, is Independent Chair of the 2X Global’s inaugural board, is on the Steering Committee of GenderSmart JEDI, is a member of the Global Alliance of Impact Lawyers’ Board and is working on a UN-led Taskforce on the creation of an ESG Board Certification. Sukhvir also launched “Aurora: The Gender Lens Project” with the 2X Collaborative and GenderSmart.

Ahlem Ben Gueblia

ANZ

Structuring and Managing Risk in 2023

1:30 PM | 2023-06-19

Ahlem Ben Gueblia

Head of Financial Sponsors Europe | ANZ

Ahlem Ben Gueblia is the Head of Financial Sponsors Europe at ANZ. Her team is responsible for the coverage of Financial Sponsors clients and focuses on the origination and structuring of liquidity solutions including fund finance facilities as well as FX and interest rate hedging.

Prior to joining ANZ in 2022, Ahlem spent 17 years at Credit Agricole CIB with the last 7 years as an Executive Director in the Private Equity Funds Solution team.

She holds a Master’s degree in Economics from the University of Paris 1 Pantheon-Sorbonne.

Navdeep Benning

Ashurst LLP

NAV 1.0 - Diversified Collateral and Debt Underlying

11:15 AM | 2023-06-19

Navdeep Benning

Partner | Ashurst LLP

Navdeep is a Fund Finance Partner at Ashurst based in London, having also spent time working at Ashurst Hong Kong and New York. With nearly 20 years of experience, Navdeep has been advising borrowers and lenders on fund finance transactions since the inception of the market and is one of the most experienced practitioners in the industry. She is a recognised expert and ranked in both Chambers and Legal 500.

Navdeep's reputation has been built on years of delivering quality advice and always keeping her clients front and centre. Her years and breadth of transactional experience ensures she has the most up-to-date market intel and can offer her clients the most progressive guidance. She focuses on creating bespoke, innovative and market-leading financing solutions on complex and structured transactions.

Due to increased liquidity pressures and looming regulatory changes in Fund Finance, recently Navdeep has been considering how securitisations and credit ratings can alleviate some of these concerns. She has increasingly been working alongside the Ashurst Fund Formation, Securitisation and Regulatory teams to implement fund finance facilities by way of securitisations and has been advising her clients as to the benefits of and methodologies for, obtaining ratings for fund entities and their portfolios.

Richard Braham

Commonwealth Bank of Australia

Structuring and Managing Risk in 2023

1:30 PM | 2023-06-19

Richard Braham

Executive Director Intelligent Finance Global Client Solutions IB&M UK | Commonwealth Bank of Australia

∙ 20+ years of experience in Institutional Banking, having now been with CBA for over 6 years.

∙ Currently Head of NBFI Europe, covering our international Funds, Sponsor and Insurance clients

∙ Formerly Deputy Head of Insurance client coverage at Barclays Corporate

∙ Richard also holds a degree in Business Commerce from the University of Birmingham

Greg Brown

Allen & Overy LLP

Fund Finance ESG Trends and Recent Developments

2:30 PM | 2023-06-19

Greg Brown

Partner | Allen & Overy LLP

Greg is a partner in A&O’s finance department and has expertise covering a wide range of debt financing practice areas, including fund finance, corporate lending, trade and commodities finance and acquisition finance for public and private bids.

Greg is also the head of Allen & Overy’s Social Finance and Impact Investment Group.

Greg has been involved in structuring sustainable and other impact investments for over a decade, acting both for borrowers and funders in that sector. In recent years, Greg has been heavily involved in market developments concerning green and sustainability-linked loan financings, which have now become a well-established and increasingly standard feature in the syndicated loan market.

Kathryn Cecil

Fried, Frank, Harris, Shriver & Jacobson (London) LLP

NAV 2.0 - Concentrated Collateral and Equity

11:15 AM | 2023-06-19

Closing Remarks

5:00 PM | 2023-06-19

Kathryn Cecil

Partner | Fried, Frank, Harris, Shriver & Jacobson (London) LLP

Kathryn Cecil is a partner in the Corporate Department and the Finance Practice, resident in Fried Frank's London office. She joined the Firm in 2019.

Ms. Cecil has extensive experience acting for funds, lenders, borrowers and sponsors on a broad range of complex domestic and cross-border finance transactions. She has advised on funds finance transactions including subscription, asset-backed and other fund financing arrangements, leveraged and acquisition financings and financial restructurings.

Mabrouk Chetouane

Natixis

The Fog is Getting Thicker: What is the Impact for Investors?

9:35 AM | 2023-06-19

Mabrouk Chetouane

Head of Global Market Strategy | Natixis

PhD. in economics from the University of Paris-Dauphine (thesis defended in 2010) and master's degrees in statistical modeling from ENSAE (École Nationale de Statistiques et d’Administration Economique) and in macroeconomic modeling (University of Paris Panthéon-Sorbonne), Mabrouk was previously head of research and strategy at BFT-IM (a subsidiary of the Amundi group). He was a senior economist at IHS-Markit and an econometrician at the Banque de France, where he was in charge of inflation forecasts for the Eurosystem's forecasting exercises. He is also a lecturer in time series econometrics at the University of Paris Dauphine and at the Ecole Centrale de Paris.

Parisa Clovis

A&O Shearman

Key Trends in NAV and Subline Financings

3:30 PM | 2023-06-19

Parisa Clovis

Partner | A&O Shearman

Parisa Clovis is a debt finance partner at A&O Shearman in London, where she leads the sponsor side fund finance practice.

Parisa’s experience focuses on fund finance acting for borrowers and sponsors (both domestic and international) in connection with NAV and hybrid facilities, subscription line facilities, GP support lines and refinancings across a range of sectors and asset classes, and has extensive experience at structuring highly complex leverage at fund-level.

Parisa also co-heads the EMEA FFA DEI Committee.

Julia Cornett

Maples Group

Innovation and New Structures

3:30 PM | 2023-06-19

Julia Cornett

Partner | Maples Group

Julia is a partner of Maples and Calder's Finance team in the Maples Group's London office. Julia has extensive experience in corporate finance, fund finance and structured finance transactions and advises on all aspects of banking, securitisation, repackagings, fund and other finance matters. She represents both borrowers and large bank syndicates, as well as hedge funds and private equity funds, on lending and financing transactions.

Julia advises on a wide range of corporate and commercial deals, including restructurings, joint ventures and M&A transactions as well as on all aspects of establishing and maintaining corporate entities, limited partnerships and segregated portfolio companies. She also has significant experience in debt listings on the Cayman Islands Stock Exchange.

Julia joined the Maples Group in 2012. She previously worked for an international law firm in London and, before that, for Torys LLP in Toronto, Canada.

Aldo Di Rienzo

Rothschild & Co

NAV 1.0 - Diversified Collateral and Debt Underlying

11:15 AM | 2023-06-19

Aldo Di Rienzo

Chief Financial Officer | Merchant Banking | Rothschild & Co

Aldo is the Chief Financial Officer of the Merchant Banking division at Rothschild & Co where he is responsible for the divisional Finance function, the operations of the corporate private equity funds and for the evolution of the division’s IT capabilities.

Prior to joining the firm in 2017, Aldo held different Finance and Operations roles at Credit Suisse, UBS and Banca Esperia (Mediobanca Group) in the UK, Switzerland and Italy. Before working in financial services, Aldo developed his career in Telecom and Consumer Goods, gaining exposure to the different business dynamics of these industries.

Aldo is a Business Management graduate from Bocconi University in Milan and holds a Master of Science Degree in Accounting from Babson College in Boston.

Giovanni Di Stefano

Nomura

Structuring and Managing Risk in 2023

1:30 PM | 2023-06-19

Giovanni Di Stefano

Managing Director | Nomura

Giovanni is a Managing Director and EMEA Head of Fund Level Hedging in Nomura. He has extensive experience in supporting clients around their FX and Interest Rate risk management activities. During the past 15 years, Giovanni has assisted global financial sponsor clients on derivative needs for event driven transactions, fund level and portfolio exposures.

Product expertise includes: FX cash, vanilla and exotics options with focus on Deal Contingent, Interest Rate swaps and options including cross-currencies.

Faatwima Diljore

AlbaCore Capital

Fund Finance ESG Trends and Recent Developments

2:30 PM | 2023-06-19

Faatwima Diljore

Head of ESG and Fund Financing | AlbaCore Capital

Faatwima Diljore has over 15 years’ experience across investment banking and credit markets. As Head of ESG and Fund Financing at AlbaCore Capital, she leads leverage financing, manages relationships with the banking community and drives the firm’s ESG efforts. Prior to joining AlbaCore Capital, she was a Director at Citi where she focused on managing and restructuring debt for corporates, banks and sovereign issuers across Europe, Middle East and Africa.

Ms. Diljore is a member of AlbaCore’s Investment Committee and ELFA’s ESG Committee. She holds a MSc in Applied Statistics from the University of Oxford and a BSc in Economics and Statistics (First Class Honours) from University College London. She is also a CFA® charterholder.

Mike Durnin

Ares Management

Innovation and New Structures

3:30 PM | 2023-06-19

Mike Durnin

Principal | Ares Management

Mr. Durnin is a Managing Director in the Ares Secondaries Group, where he focuses on capital markets activity across the Secondaries platform. Prior to joining Ares in 2022, Mr. Durnin was a Vice President at Goldman Sachs Asset Management, where he was responsible for fund financing activity across the division, with a primary focus on the fund-of-funds platform. Previously, Mr. Durnin was an Associate General Counsel at BasePoint Capital, LLC, a boutique specialty finance lender, where he was involved in a broad array of functions across the firm. He holds a B.B.M. from Stony Brook University in Finance and a J.D. from New York Law School.

Russell Evans

National Australia Bank

Fund Finance ESG Trends and Recent Developments

2:30 PM | 2023-06-19

Russell Evans

Head of Funds Client Coverage, Europe | Fund Sponsors, Strategic Investors and Alternatives Assets | National Australia Bank

Russell heads the team responsible for financial sponsor client coverage in Europe. This includes responsibility for structuring and delivering liquidity and risk management solutions for private capital sponsors including subscription finance, NAV and hybrid facilities, as well as FX and interest rate hedging for open and closed-end funds. Russell has over 15 years of experience in delivering all aspects of fund financing, including the structuring and implementation of complex bilateral and syndicated debt facilities, capital markets solutions, sustainability linked loans, structured deposits and portfolio risk management solutions. Prior to joining National Australia Bank in 2010 he spent 10 years at Lloyds Bank covering Financial Institution clients including financial sponsors in both the private equity and real estate sectors. His earlier career was focused on project financing infrastructure and natural resources projects. He holds a Master of Science degree from the University of Leicester and a Batchelor of Science degree from the University of Southampton.

Greg Fayvilevich

Fitch Ratings

Richard Fletcher

Macfarlanes

Non-Bank Lenders - Current Status and What is Needed for More Growth

1:30 PM | 2023-06-19

Richard Fletcher

Partner | Macfarlanes

Richard advises asset managers, financial institutions and corporates on a range of financing matters.

He focuses on structured finance and fund finance across a wide variety of asset classes and investment strategies including consumer credit, mortgages, corporates loans (BSL, SME and middle market), credit funds, auto loans, private equity, secondaries, real estate and structured credit.

His work includes advising on:

SRT;
securitisation and structured products;
leverage facilities, NAV financings and investor call bridge facilities;
repacks; and receivables financing, asset-based lending and specialty finance.

Nicola Germano

Intesa Sanpaolo IMI Corporate & Investment Banking Division

Evolution of Fund Finance

10:15 AM | 2023-06-19

Nicola Germano

Managing Director - Head of Fund Finance Financial Sponsor Group | Intesa Sanpaolo IMI Corporate & Investment Banking Division

Nicola joined Intesa Sanpaolo in 2015 and became responsible for the origination, structuring and execution of fund financing deals (Subscription financing, NAV financing, GP financing, Hybrids) within the Financial Sponsor Group. He’s now leading the Fund Financing team and he is based at the firm’s head office in Milan.

Before joining Intesa Sanpaolo, Nicola spent seven years at Goldman Sachs in London where he was a sales/trader in equity financing within the prime brokerage arm of the firm. He started his career at BNP Paribas in Milan in 2001 and worked there for five years within the relationship management team.

Nicola holds a Bachelor Degree in Economics at University of Florence.

Matt Glen

Lloyds Bank

NAV 1.0 - Diversified Collateral and Debt Underlying

11:15 AM | 2023-06-19

Matt Glen

Director, Sponsors Strategic Origination & Partnerships | Lloyds Bank

Matt Glen is a Director at Lloyds Bank. Based in London, he is part of the Financial Sponsors team, which is a leading global private markets fund finance franchise. The business sits within the wider Institutional Coverage group and is responsible for the origination, structuring, execution and management of investor recourse and asset backed fund finance loans and comprehensive relationship coverage.

Matt has worked in the industry since 2014 and has broad experience originating and executing fund finance transactions across the private markets asset classes, with deep structuring expertise across NAV, hybrid and investor-recourse backed facilities. Matt’s role at Lloyds is focused on the origination of structured lending opportunities for the Financial Sponsors business, and on strategic partnerships to support the continued growth of the franchise.

During his career, Matt has worked across other banking disciplines, including overseas in New York and Sydney. Prior to joining Lloyds, Matt was a Director in ING’s Fund Finance team.

Alex Griffiths

MUFG Investor Services

Helen Griffiths

Investec

Innovation and New Structures

3:30 PM | 2023-06-19

Helen Griffiths

Head of Structuring, Fund Solutions | Investec

Helen is the Head of Structuring for Investec’s fund solutions business. Her role focuses on designing solutions and developing relationships with funds and fund managers across difference strategies throughout the lifecycle of the fund. Helen works closely with the team’s distribution and fund raising platforms for capital call, GP/co-invest and NAV financing. Helen has been connected to the fund finance industry for 15 years.

Andrew Husdan

Clifford Chance

Non-Bank Lenders - Current Status and What is Needed for More Growth

1:30 PM | 2023-06-19

Andrew Husdan

Partner | Clifford Chance

Ranked by both Legal 500 (Leading Individual) and Chambers (Band 1), Andrew is the co-head of the Clifford Chance fund finance practice and has a first class reputation in the area of funds finance, acting for both sponsors, lenders and investors for over 10 years.

As well as traditional capital call and bridge financings, Andrew also leads on more innovative and complex structured financings. These involve hybrid financings, NAV lending (across different asset classes, including real estate, private equity, direct lending and secondaries), preferred equity structures (including back-levered prefs), continuation funds, off-balance sheet / SRT structures and non-bank financings (involving both loans made by non-bank lenders to funds, as well as fund-raising structures used to originate non-bank capital, in particular in the insurance and pension company space.)

Andrew is also sought out by participants in the market (who are considering becoming lenders in relation to existing financings) in order to obtain his views (e.g. via red-flag reviews and enforcement memo analysis) on the transaction structure and documentary package of the existing financing. In effect, this means that even where Clifford Chance are not lead counsel on a transaction, they are still getting exposure to a range of documentation and facilities via such 'review instructions', providing a comprehensive overview of the market.

Andrew is a regular speaker at Fund Finance Association conferences, and has led various training initiatives and talks, including as part of the FFA University programme.

Sabih Hussain

Corinthia

Evolution of Fund Finance

10:15 AM | 2023-06-19

Sabih Hussain

Head of Capital Markets | Corinthia

Sabih Hussain is the Head of Capital Markets and is a member of the senior leadership team at Corinthia Global Management. He is responsible for overseeing Corinthia’s global banking relationships and partners. He has over 23 years industry experience and prior to joining Corinthia, he was the Global Head of Financing at Barings, where he arranged, structured, negotiated and executed Fund Finance transactions.

Sabih is a member of the FFA EMEA Executive Committee and holds an M.A. in International Relations from the Hult Business School.

James Kinsley

Carey Olsen

Key Trends in NAV and Subline Financings

3:30 PM | 2023-06-19

James Kinsley

Principal | Carey Olsen

James has extensive experience of debt finance transactions in Europe, Asia and the Middle East. He advises on all aspects of private debt (including special situations), structured finance, leveraged finance, acquisition finance, take-private transactions, bond issuances, convertible instruments, derivatives (from synthetic CLOs to pre-IPO financings and strategic equity financings), property finance and syndicated lending. In addition, James regularly acts on fund finance transactions (for both lenders and borrowers, including subscription financings, NAV and hybrid facilities), as well as securitisations, CLOs and private debt funds. James also advises on a wide range of general corporate and commercial matters, including restructurings, joint ventures and private M&A transactions.

David Lazar

Allvue Systems

Fund Finance ESG Trends and Recent Developments

2:30 PM | 2023-06-19

David Lazar

Senior Director - Portfolio Manager and Head of Product Delivery Architecture | Allvue Systems

David is a Senior Director - Portfolio Manager and Head of Product Delivery Architecture at Allvue. David previously played a leadership role on the Professional Services team at Allvue, which included overseeing the Portfolio Compliance Implementations team. Prior to joining the company, he worked at Eze Software Group. David is a CFA Charterholder and holds Master of Arts and Bachelor of Arts degrees in Economics from the University of California, Los Angeles.

Matt Lilley

Mayer Brown

Legal Update: Implications of Defaulting Lenders

10:15 AM | 2023-06-19

Matt Lilley

Partner | Mayer Brown

Matt Lilley is counsel in the Banking & Finance practice of the London office. He has extensive experience acting for lenders, sponsors, funds and borrowers on lending transactions in the infrastructure and funds finance sectors. Matt's funds finance experience covers many asset classes and fund structures (including private equity funds, credit funds, infrastructure funds, secondary funds, real estate funds, emerging market funds) and he has advised on a wide range of transactions covering subscription facilities, NAV/asset back facilities, hybrid facilities and co-investment facilities). His practice also includes corporate infrastructure financing (both acquisition financing and refinancings), acting for both lenders and sponsors/borrowers on a variety of funding structures, including traditional bank financings, institutional funding arrangements and private placement issuances, and establishment of common terms platforms.

Gianluca Lorenzon

Validus

NAV 2.0 - Concentrated Collateral and Equity

11:15 AM | 2023-06-19

Gianluca Lorenzon

Head of Fund Finance Advisory | Validus

Gianluca is a seasoned financial services professional with over 25 years of experience.At Validus Risk Management he advises private market managers on all aspects of fund, ManCo and GP financings. In his most recent prior role as head of European origination for Hark Capital, the pioneering New York-based concentrated NAV lender (formerly owned by abrdn), he led the origination efforts for the European market.

Gianluca began his career at JPMorgan and later worked at KPMG Corporate Finance, specializing in mid-market M&A transactions for financial sponsors and corporates, both public and private, for approximately a decade. He then joined the Bank of Ireland's Leveraged Acquisition Finance team in late 2007, where he supported mid-market and upper mid-market European buyouts in both club and underwritten deals for sponsors such as HgCapital, PAI, Investcorp, Montagu, Equistone, and Providence.

Having then joined Standard Life Investments, the precursor company to the current abrdn he worked in direct lending, high yield and multi asset private credit before joining Hark Capital. At Hark Capital, Gianluca worked with several asset classes, ranging form Buyouts to Real Estate, from tech VC technology to structured credit.

Gianluca holds a BSc (Econ) Analytical and Descriptive from the London School of Economics and Political Sciences and an MSc Economics & Finance from University of Bristol.

Steven Mansy

Macquarie Group

Pierre Maugüé

Debevoise & Plimpton LLP

Innovation and New Structures

3:30 PM | 2023-06-19

Pierre Maugüé

Partner | Debevoise & Plimpton LLP

Pierre Maugüé is a finance partner in the London office of Debevoise & Plimpton.

Mr. Maugüé is recommended by The Legal 500 UK. The guide has described him as “exceptional,” “responsive, commercial and creative,” “technically very strong” and a trusted adviser who helps clients achieve goals in the most efficient manner. Mr. Maugüé is also recommended as a leading lawyer by IFLR1000 (2022).

Mr. Maugüé brings a global perspective to his work, having lived and worked in Asia, Europe and the United States. He joined Debevoise in 1999 in the firm’s Hong Kong office. He relocated to the New York office in 2002 before moving to London in 2014.

Mr. Maugüé writes frequently on legal matters related to finance topics and is also a regular contributor to the Debevoise & Plimpton Private Equity Report.

Mr. Maugüé received a Magistère and DESS in Business and Tax Law, with high honours, from the University of Paris II-ASSAS in 1991, and a Master of Laws in Comparative Jurisprudence from New York University in 1995.

Mr. Maugüé was admitted to the New York Bar in 1996 and as a solicitor in England & Wales in 2016.

Philippe Max

Dentons

Keenan McBride

Morgan Stanley

Innovation and New Structures

3:30 PM | 2023-06-19

Keenan McBride

Executive Director | Morgan Stanley

Keenan McBride is an Executive Director in Fixed Income Secured Lending at Morgan Stanley. Mr. McBride currently handles the origination, structuring, and distribution of subscription secured credit facilities for private equity funds globally, and has been covering the product exclusively for ten-plus years. His clients include top tier alternative asset managers headquartered in North America, Europe, and Asia. Prior to joining Morgan Stanley, Mr. McBride worked in the subscription finance group at Sumitomo Mitsui Banking Corporation and on the leveraged finance syndications team at RBC Capital Markets. Mr. McBride graduated from Boston College.

Jamie Mehmood

Deloitte

NAV 1.0 - Diversified Collateral and Debt Underlying

11:15 AM | 2023-06-19

Jamie Mehmood

Head of Fund Finance Advisory | Deloitte

Jamie is Head of the Fund Finance Advisory business within the 100+ strong Debt & Capital Advisory team at Deloitte. The Fund Finance Advisory team has been in operation since 2020 and has grown over that time to a headcount of five experienced Fund Finance professionals, all of whom look solely at Fund Finance (currently recruiting for a sixth). In this role, Jamie is involved in a range of financings across the full breadth of the Fund Finance market (by product, sector and size), covering everything from first time debt raises to multi-billion dollar syndicated subscription line financings and structured PE NAV transactions.

Prior to joining Deloitte in January 2020, Jamie worked at RBS for 19 years in a range of roles around Fund Finance, covering debt structuring and execution as well as latterly a role as co-head of the Funds Banking relationship coverage team. During his time at RBS Jamie also spent six months working on secondment at a leading private debt fund and for three years was responsible for developing RBS plc corporate bank’s strategy for the provision of finance to support Sustainable Energy.

Jamie is qualified as a Chartered Accountant, having studied Geography at Magdalene College, Cambridge.

Roxana Mirica

Apax

Structuring and Managing Risk in 2023

1:30 PM | 2023-06-19

Roxana Mirica

Partner | Apax

Roxana Mirica joined Apax in 2017 as head of Capital Markets in Europe. She is responsible for leading acquisition financing and ongoing debt and equity capital markets transactions for Apax’s portfolio companies, as well as fund level financing. Additionally, Roxana manages day-to-day relationships with banks and institutional debt and equity investors. Roxana also serves on the boards of Genius Sports and the Apax Foundation.

Prior to joining Apax Partners, Roxana spent 9 years at Barclays, most recently as Director in Leveraged Finance.

Roxana holds a BA in Economics and Chemistry cum laude from Dartmouth College.

Shelley Morrison

abrdn

Non-Bank Lenders - Current Status and What is Needed for More Growth

1:30 PM | 2023-06-19

Shelley Morrison

Head of Fund Finance | abrdn

Shelley Morrison is Head of Fund Financing at abrdn with extensive experience in the origination, structuring and execution of fund level debt facilities. She has been with the company since 2019. Before joining the company, Shelley was a Relationship Director in the Fund Finance team at RBS for 6 years where she managed a portfolio of subscription loans, NAV loans and GP finance to global funds across Private Equity, Private Debt, Infrastructure and Real Estate. Prior to that, she worked in structured asset finance at RBS and Lloyds for 10 years, with a focus on commercial ship finance. Shelley received a first-class honours degree in Geography and an MSc in Social and Political Theory, both from the University of Edinburgh.

Alex Murray

Preqin

Preqin Update

4:30 PM | 2023-06-19

Alex Murray

Vice President | Preqin

Alex Murray is a built environment economist with special interests in the private financing of publicly funded infrastructure. Starting his career in the Corporate Finance function at KPMG in London, his development of methods to collate and apply public datasets to monitor operational infrastructure provided the foundations for his PhD research on infrastructure asset whole life cost and value. Alex spent eight years as a researcher and lecturer at UCL’s Bartlett School of Sustainable Construction and more recently was a Senior Analyst at the UK Government Cabinet Office, Infrastructure and Projects Authority. His work as a civil servant focused on evaluating the cost and performance of historic capital investments using both public and private finance, alongside work streams tracking investors in public-private partnership contracts. Alex joined Preqin as Vice President in September 2020, where he specialises in coverage of unlisted infrastructure.

Jad Nader

Ogier

Richard Pugh

Dechert

Innovation and New Structures

3:30 PM | 2023-06-19

Richard Pugh

Partner | Dechert

Richard Pugh, a partner in Dechert’s global finance practice, focuses his practice on UK and European commercial real estate finance and securitization. Mr. Pugh has significant experience advising on commercial real estate lending, commercial mortgage-backed securitizations, term asset-backed securitizations (including residential, auto and credit card), securitized lending, fund and subscription finance, structured repacks and collateralized loan obligations. As a former director and assistant general counsel at Bank of America, Mr. Pugh leverages his deep understanding and knowledge of the real estate finance and securitization industry to represent clients in their most complex matters.

Mr. Pugh’s also maintains an active pro bono practice, working on and supervising a number of matters through Trust Law and Kids in Need of Defense (KIND).

Mr. Pugh is recognized for Property Finance and Securitisation by The Legal 500, UK 2023 with clients mentioning his “extensive experience in EMEA securitisation, CMBS and commercial real estate finance matters.

Stephen Quinn

17Capital

Non-Bank Lenders - Current Status and What is Needed for More Growth

1:30 PM | 2023-06-19

Stephen Quinn

Senior Managing Director | 17Capital

Stephen is Co-Head of 17Capital’s credit offering and a member of the Investment Committee at 17Capital, the go-to global source of strategic finance for investors in private equity. Stephen joined the firm in 2019 from Lloyds Banking Group, where he was the Global Head of Financial Sponsors with responsibility for one of the largest fund finance businesses globally. Stephen has worked with private equity managers for almost 20 years and co-authored 17Capital’s report on NAV Lending and the emerging opportunity for private debt investors.

Thomas Rapp

Wells Fargo

Ratings, Capital Relief Structures, and Risk Transfer

2:30 PM | 2023-06-19

Thomas Rapp

Managing Director, Head of EMEA Fund Finance, Financial Institutions | Wells Fargo

Thomas Rapp is a Managing Director in Wells Fargo’s Financial Institution Group in London where he focuses on origination and structuring of Fund Finance Facilities in Europe.

Thomas is the head of the EMEA Fund Finance Group which focuses on providing liquidity and fund-level leverage to Private Equity funds across a number of strategies (including buyout, real estate, energy, infrastructure, secondaries, debt strategies and transportation) and jurisdictions (UK, Luxembourg and Channel Islands).

Before joining Wells Fargo as part of the acquisition of WestLB’s platform, Thomas was an Executive Director at WestLB’s London Fund Finance team where he structured Subscription Finance facilities since 2008. Prior to this, Thomas was a Senior Risk Officer for Leveraged Finance and Media/Entertainment and Telecom Structured Finance in WestLB’s New York branch for 4 years. He previously held various positions at WestLB in Germany and started his career with a 2-year Traineeship at Deutsche Bank. Thomas received a Diplom Kaufmann degree in Economics from the University of Kiel (Germany).

Olivier Renault

Pemberton Capital Advisors

Ratings, Capital Relief Structures, and Risk Transfer

2:30 PM | 2023-06-19

Olivier Renault

Head of Risk Sharing Strategy | Pemberton Capital Advisors

Olivier is a Portfolio Manager and Head of the Risk Sharing Strategy at Pemberton, which invests in first-loss or mezzanine tranches of bank loan portfolios (large corporates, SMEs and other core assets) and provides investors access to pools of untraded loans in a diversified format.

Prior to joining Pemberton in 2021, Olivier was Managing Director and Global Co-Head of FIG Solutions at Citigroup and was a leading originator and arranger of bank regulatory capital relief transactions. Olivier started his career at S&P Risk Solutions and also worked for Stormharbour Securities as Head of Structuring & Advisory.

Olivier has 20 years of experience in structured credit, securitisation and bank capital finance. Olivier has an MSc in Finance from Warwick University (UK), a PhD in Economics from Université Catholique de Louvain (Belgium) and was also a Finance Lecturer at London School of Economics and Political Science (UK).

Andy Roberts

RBS International

Evolution of Fund Finance

10:15 AM | 2023-06-19

Andy Roberts

Senior Director | RBS International

Andy is a Senior Director at RBS International specialising in Fund Finance. He has spent the last 15 years in a number of roles including Relationship Management, Portfolio Management, Deal Structuring and Execution across a range of Funds and FI asset classes.

Andy is part of the RBS International London leadership team, and he currently leads the Private Debt strategy offering. The team provide a range of solutions ranging from traditional banking services through to bespoke financing solutions for funds and fund managers.

Cameron Roper

Proskauer Rose LLP

Key Trends in NAV and Subline Financings

3:30 PM | 2023-06-19

Cameron Roper

Partner | Proskauer Rose LLP

Cameron Roper is a partner in Proskauer’s Corporate Department and a member of the Finance Group (working closely with the Firm’s Private Funds Group). Cameron specializes in funds finance and general lending and advisory work, acting for both fund managers and financial institutions. He regularly advises on net asset value (NAV) facilities, hybrid facilities and subscription line facilities, as well as general partner commitment, manager, carry and co-investment facilities. His experience covers a wide range of funds, including credit, large buyout and mid-market funds, venture, secondaries, infrastructure, real estate, fund of funds and emerging market funds.

Emma Russell

Haynes Boone

Opening Remarks

9:30 AM | 2023-06-19

NAV 2.0 - Concentrated Collateral and Equity

11:15 AM | 2023-06-19

Emma Russell

Partner | Head of the Finance Practice Group | London | Haynes Boone

Emma Russell is a partner and head of the Finance Practice Group in the London office of Haynes and Boone. Emma is an experienced loan finance lawyer with extensive knowledge in global fund finance, real estate finance transactions, and structured and specialty finance, as well as more general experience in acquisition, leverage, and general corporate finance. Her practice focuses on the full range of fund lending products across all fund sectors, (including private equity, real estate, secondaries, infrastructure, and hedge) from capital call facilities, hybrid/NAV facilities, to general partner support, co-invest facilities and portfolio acquisition facilities and assisting funds with structuring. Emma has significant experience advising credit funds and their lenders in relation to leverage facilities to CLO’s/CDO’s and securitisation vehicles. Emma’s experience also includes advising both lenders and funds on private equity, receivables financing, asset based lending, speciality finance, real estate fund structuring, and acting for both lenders and sponsors in relation to investment and development real estate finance and leverage restructurings. Emma has spent significant time working in-house with various financial institutions during her career. She has gained varied experiences with both business and legal teams across all lending sectors. Emma co-chairs the European Committee of Women in Fund Finance, a group associated with the Fund Finance Association, which is focused on recognition and promotion of women leaders within the alternative investment fund finance industry.

John Sayers

Simmons & Simmons LLP

Michael Schad

Coller Capital

NAV 2.0 - Concentrated Collateral and Equity

11:15 AM | 2023-06-19

Michael Schad

Partner, Head of Coller Credit Secondaries | Coller Capital

As Head of Coller Credit Secondaries, Michael is responsible for the growth and development of Coller Credit Secondaries, beyond his day-to-day origination activity. He is based in the firm’s London office.

Prior to joining Coller Capital in 2005, Michael worked in the investment banking divisions of Deutsche Bank and Credit Suisse First Boston in London.

Michael has a BA (Hons) in International Business Studies from the European Business School, London and an MSc in Finance from the London Business School.

Pramit Sheth

Whitehorse Liquidity Partners

Ratings, Capital Relief Structures, and Risk Transfer

2:30 PM | 2023-06-19

Pramit Sheth

Senior Principal, Head of Structured Products | Whitehorse Liquidity Partners

Pramit Sheth joined Whitehorse Liquidity Partners in 2023 and has 18 years of credit experience in the structured and fund finance industry. Prior to joining Whitehorse, Pramit spent 12 years with Kroll Bond Rating Agency as a Senior Managing Director. In his most recent role there, Pramit was accountable for all new and existing Investment Funds debt ratings globally. Prior to that he was a senior member of the CMBS Structured Finance Ratings team, where he helped develop various methodologies and was part of the analytical credit team. Pramit holds a Bachelors Degree in Finance and Information Systems with a concentration in Mathematics from NYU’s Stern School of Business.

Kate Sinclair

Simpson Thacher & Bartlett LLP

Slade Spalding

No Limit Capital

Leon Stephenson

Reed Smith LLP

NAV 1.0 - Diversified Collateral and Debt Underlying

11:15 AM | 2023-06-19

Leon Stephenson

Partner | Co-Head Fund Finance | Reed Smith LLP

Leon is co-lead of the Reed Smith fund finance team, based in London. Leon and the team work with banks, other financial institutional lenders, managers, general partners and limited partners of funds on specialist fund financing transactions with private equity, secondaries, real estate, direct lending and infrastructure funds.

Leon has particular specialist knowledge of NAV/asset-backed and hybrid facilities, secondary funds facilities, capital call facilities, co-investment and GP/manager support facilities and other types of liquidity facilities provided to funds.

Leon is recognized as a “Leading Individual” in Fund Finance by Legal 500 UK 2023 and the team is recognized in Band 1 in Fund Finance by both Legal 500 UK 2023 and Chambers & Partners UK 2023. Leon was also recognized as “Partner of the Year for Banking” at the Client Choice Awards 2017. Leon represents a large proportion of lenders that provide fund financing as well as a number of private equity and other funds on complex fund finance transactions.

Victoria Stewart

Partners Group

Non-Bank Lenders - Current Status and What is Needed for More Growth

1:30 PM | 2023-06-19

Victoria Stewart

Global Head Fund Financing | Partners Group

Victoria Stewart is the Global Head Fund Financing sitting within the Capital Markets business unit at Partners Group. She has been with Partners Group since 2011 and has 20 years of industry experience, primarily in sourcing, structuring and executing fund level and equity bridge facilities. Prior to joining Partners Group, she worked as a lawyer in private practice in Edinburgh, UK. She holds a bachelor’s degree in law, a master’s degree in management and a postgraduate diploma in legal practice from the University of Aberdeen, UK and a master's degree in European and international business law from the University of St. Gallen (HSG), Switzerland.

Stephen Thomas

Coller Capital

Key Trends in NAV and Subline Financings

3:30 PM | 2023-06-19

Stephen Thomas

Head of Finance | Coller Capital

Stephen is Head of Finance at Coller Capital, a leading Secondaries Private Equity firm, based in the Firm’s London office and his responsibilities include negotiating and structuring financing facilities for all active Coller funds as well as their wider treasury requirements.

Stephen is an FCA Chartered Accountant. Prior to joining Coller Capital in 2010, Stephen trained at Deloitte in London before spending 18 months with KPMG in the Cayman Islands.

Stephen holds an undergraduate degree in History and Politics from the University of Warwick.

Steven Tremblay

Assured Guaranty

Ratings, Capital Relief Structures, and Risk Transfer

2:30 PM | 2023-06-19

Steven Tremblay

Managing Director - Structured Finance | Assured Guaranty

Steven Tremblay is a Managing Director in the Structured Finance Originations group of Assured Guaranty. During his 24-year tenure at Assured Guaranty and its predecessor Financial Security Assurance (“FSA”), Mr. Tremblay also served various roles in the Structured Finance portfolio management group, most recently serving as the Chief Surveillance Officer for the Structure Finance portfolio.

Previously, Mr. Tremblay served as the Head of Credit for the Financial Products business of FSA. Prior to Assured Guaranty, Mr. Tremblay worked in the Structured Finance Surveillance groups of S&P and bond insurer MBIA.

Mr. Tremblay received an MBA in Finance from Pace University and a BSc from the Department of Anatomy & Cell Biology of McGill University.

Marco Unti

Deutsche Bank

NAV 2.0 - Concentrated Collateral and Equity

11:15 AM | 2023-06-19

Marco Unti

Managing Director | Deutsche Bank

Marco joined Deutsche Bank in 2016 as a member of the Global Credit Trading team in London. Within GCT Marco runs the Structured Credit Financing business and is primarily focussed on developing DB fund financing offering across the product spectrum from subscription financing to NAV facilities and fund-supported single asset financing.

Before joining DB Marco spent 11years at Credit Suisse, where he held a variety of structuring and trading roles within fixed income.

Olivier Vermeulen

Paul Hastings

Evolution of Fund Finance

10:15 AM | 2023-06-19

Olivier Vermeulen

Paris Office Chair, Head Finance Departement | Paul Hastings

Olivier Vermeulen is Office Chair of the Paris office of Paul Hastings and head of the Global Finance department. With a focus in banking and finance, he has extensive experience in leveraged financing (senior, second lien, mezzanine, unirate/unitranche, and SSRCF/high-yield financings), fund financing (EBF and capital call facilities), structured finance (securitization), debt negotiations, and Islamic finance.

Mr. Vermeulen advises both sponsors and borrowers (private equity and infrastructure funds as well as large corporate funds) as well as financial institutions (senior/mezzanine lenders and debt funds).

His strengths in innovation are very clearly demonstrated through the creation of a new product for the French bank finance market in the form of the equity bridge finance facility for European funds.

Raghav Wadhawan

Standard Chartered Bank

Evolution of Fund Finance

10:15 AM | 2023-06-19

Raghav Wadhawan

Executive Director | Standard Chartered Bank

Raghav Wadhawan is an Executive Director at Standard Chartered Bank. Based in London, he is part of the Sponsors Coverage team which is a global coverage team focused on origination and execution of transactions for Private Equity Funds across the fund and asset level. His focus is on covering Sponsors across Private Equity, Real Estate, Credit, and Infrastructure sectors and on a global basis. Raghav is responsible for supporting Sponsor clients with fund facilities, ranging across Subscription, Hybrid, NAV, and GP Financing. Prior to joining Standard Chartered Bank, Raghav worked at Lehman Brothers. He has an Economics degree from the London School of Economics and a Masters in Finance from Imperial College. Raghav is also a CFA charterholder and part of the FFA EMEA Executive Committee.

Simon Witney

Travers Smith LLP

Fund Finance ESG Trends and Recent Developments

2:30 PM | 2023-06-19

Simon Witney

Senior Consultant, Financial Services & Markets | Travers Smith LLP

Simon is a senior consultant who works mainly with clients active in private markets. He has particular expertise in sustainable finance and corporate governance.

Throughout his career Simon has been a prolific writer and regular speaker on company law and corporate governance and over the last 20 years or so he has advised private equity clients, as well as the UK Government, on a wide range of fund and transactional matters. He has a market-leading reputation in the private equity sector with both Real Deals magazine and Private Equity International magazine having named Simon amongst the most influential figures in private equity.

Simon has been a member of the BVCA Council, was chair of the BVCA’s Legal and Accounting Committee between 2010 and 2016, and has also chaired Invest Europe’s Tax, Legal and Regulatory Committee.

In addition, Simon is a Visiting Professor in Practice in the Law Department at the London School of Economics and Political Science, where he also teaches on the LLM programme. Simon's book, Corporate Governance and Responsible Investment in Private Equity, was published by Cambridge University Press in 2021.

Paul Worsnop

Appleby

Legal Update: Implications of Defaulting Lenders

10:15 AM | 2023-06-19

Paul Worsnop

Counsel | Appleby

Paul Worsnop is Counsel within the corporate department in Jersey. He has a broad practice and advises on all aspects of corporate and finance transactions with a particular emphasis on debt and equity capital markets, structured finance, funds and technology.

Prior to commencing his legal career, Paul spent two years as a project manager in the software development industry which is reflected in the commercial and practical advice he offers his clients and his sector focus.

Paul is involved with a number of industry working groups on the Island looking at areas including capital markets, the implementation and regulation of Fintech in Jersey, the AML/KYC regime and legal reform.

Vassiliyan Zanev

Loyens & Loeff

Legal Update: Implications of Defaulting Lenders

10:15 AM | 2023-06-19

Vassiliyan Zanev

Partner | Loyens & Loeff

Vassiliyan Zanev co-chairs the Investment Management group of Loyens & Loeff and leads the fund finance practice of Loyens & Loeff in Luxembourg. He represents a variety of financial institutions, investment funds and corporations across a range of structured finance and lending transactions, with particular emphasis on fund finance, securitisation and real estate finance. Vassiliyan has extensive experience in the financing of Luxembourg alternative or regulated investment fund borrowers (including by way of capital call subscription credit facilities and permanent leverage solutions). Vassiliyan is a member of the EMEA Advisory Council of the Fund Finance Association.

Platinum Sponsors

Ashurst

We are pioneers in Fund Finance. As one of the first law firms to advise in this market, we have helped shape its growth and development into the multiple finance products available today. Collectively, our industry-leading partners have over 80 years of experience in structuring and acting for lenders and borrowers on all types of fund financings, including capital call, NAV, preferred equity, SMAs, family offices, co-investments and GP & management facilities. Our unrivalled breadth of experience, commitment to the market and track record of delivering exceptional standards of service means we are a trusted adviser to all the major lenders, GPs, managers and sponsors.

We know funds. Working with our award-winning fund formation, fund tax and fund regulatory practices, we are able to advise and guide the most demanding clients on all aspects relating to funds.

We find solutions that work across borders. As one of the world's leading global law firms, our story is one of change and progress. Since 1822, our ambition has always been to lead the field, to be ahead of our time, and to inspire change. Through our 200-year history, taking a progressive stance on the issues of our time has been a constant thread, every step of the way. And this thread continues to run through our global law firm. We have 31 offices in 18 countries and offer the reach and insight of a global network, combined with the knowledge and understanding of local markets. With over 450 partners and a further 1,800 lawyers working across 11 different time zones, we are able to respond to clients wherever and whenever required. Our network of fund and fund finance experts are one global team that seamlessly and efficiently find solutions and manages the largest and most complicated cross-border transactions.

Ashurst – ranked Band 1, Legal 500 Fund Finance 2024

Cadwalader, Wickersham & Taft LLP

With over 225 years of legal experience, Cadwalader, Wickersham & Taft LLP serves a diverse client base, including many of the world’s leading financial institutions, funds, Fortune 500 companies and other leading corporations, and individual private clients. With offices in New York, London, Charlotte and Washington, D.C., Cadwalader offers legal expertise in antitrust, banking, corporate finance, corporate governance, energy, environmental, executive compensation, finance, financial restructuring, health care, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitisation, structured finance, tax and white collar defense. Cadwalader has more than two decades of experience in fund finance, providing practical, yet cutting edge, advice to a wide variety of financial institutions active in the space. The Fund Finance team regularly represents the agent, lead arrangers and lenders on subscription credit and capital call facilities to real estate, private equity and other investment funds.

Carey Olsen

Carey Olsen is a leading offshore law firm. Our fund finance specialists have extensive experience of advising on all types of lending to investment funds in Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey and Jersey.

Our lawyers regularly deal with subscription facilities, GP leverage, co-invest facilities as well as hybrid and NAV based arrangements, with loan sizes ranging from tens of millions to billions of dollars. We work alongside all of the major onshore law firms, accountancy firms and insolvency practitioners on corporate transactions and matters involving our jurisdictions.

Our advice is delivered by an approachable and experienced team of globally-minded lawyers who work in partnership with our clients to help them achieve their objectives. We have the expertise and resources to handle the most complex international transactions combined with a personal approach to business.

Clifford Chance LLP

Clifford Chance is one of the world’s pre-eminent law firms, with the depth and range of resources to help our clients across all the major global financial centres. As a single, fully integrated partnership, we pride ourselves on our ability to work seamlessly across national borders and product areas to deliver broad industry expertise and local knowledge. Clifford Chance brings a market-leading fund finance proposition, advising lenders, investors and sponsors/GPs on a wide range of financing options, including capital call / bridge facilities, leveraged NAV facilities and borrowing base deals (including hybrid facilities), along with facilities for general partners, preferred equity arrangements and non-bank financing. Our global funds/funds formation practice of over 130 lawyers works in tandem with our lending, corporate and regulatory teams to provide a complete fund financing platform for our clients.

Deutsche Bank

Deutsche Bank is the leading German bank with strong European roots and a global network. The bank focuses on its strengths in a Corporate Bank newly created in 2019, a leading Private Bank, a focused investment bank and in asset management. Deutsche Bank provides financial services to companies, governments, institutional investors, small and medium-sized businesses, and private individuals. The Investment Bank focuses on its traditional strengths in financing, advisory, fixed income and currencies.

Deutsche Bank is an active participant in the fund finance market and has arranged or supported as a member of a wider syndicate a variety of transactions. Deutsche Bank is well-placed as a reliable funding partner particularly on bespoke financing solutions and can help the sponsors achieve a variety of objectives through a wide product suite. Deutsche Bank is a global financial services provider that takes a holistic view of sponsor client relationships and can cater to multiple objectives, asset types and structures. Deutsche Bank’s multi-currency and jurisdictional solutions are especially advantageous for EU, US and Asia based sponsors seeking to execute on new subscription finance opportunities, NAV based lending facilities or opportunistic add-on acquisitions to platform/portfolio companies and clients are provided with connectivity to Deutsche Bank’s overall platform, when desired. Deutsche Bank’s structuring capabilities are best in class with customizable solutions aimed at achieving goals prescribed by the sponsor. Deutsche Bank has financing capabilities across a broad spectrum of assets, matching the breadth of Deutsche Bank’s Structured Finance platform.

Haynes and Boone

Haynes Boone is a leading U.S. corporate law firm whose attorneys were instrumental in developing the structure and documentation for subscription financing in the early 1990s. With over 30 years of industry experience in the global subscription financing market, our Fund Finance Practice has worked through numerous business cycles, taking a multi‐disciplinary approach to working with clients and their customers on each transaction, preserving the lender‐borrower relationship by conducting all negotiations with an understanding of the fund’s business issues, while preserving each fund’s relationship with its investors. Our work in the global subscription financing market has been recognized by The Drawdown as Fund Finance Advisory Firm of Year and by Private Equity International’s Global Annual Awards as one of the top law firms in the “Transactions” category for both Asia and North America. Our global team’s focus is a collaborative team approach with an emphasis on partner‐led deals. Our fund finance team of over 70 attorneys and specialists advises on all types of fund finance including subscription financing, NAV/Hybrid, unencumbered asset pool financing, employee co-invest, GP support and management fee financings. Haynes Boone has offices in New York, California, Charlotte, Chicago, Denver, Washington D.C., London, Mexico City, Shanghai and across Texas, representing agent banks in Fund Financings in Asia, Europe, Latin America and North America. With over 700 lawyers, Haynes Boone is ranked among the largest U.S.‐based firms by The National Law Journal.

Kirkland & Ellis

Kirkland & Ellis provides exceptional service to clients around the world in complex corporate and tax, litigation, intellectual property, restructuring and counseling matters. The Firm offers clients the unsurpassed resources of a large, integrated, multidisciplinary, global team of more than 3,500 attorneys across 20 cities in New York, Chicago, Austin, Beijing, Boston, Brussels, Dallas, Hong Kong, Houston, London, Los Angeles, Miami, Munich, Palo Alto, Paris, Riyadh, Salt Lake City, San Francisco, Shanghai, and Washington, D.C.

Kirkland is a global leader in providing sophisticated advice to investment fund sponsors, institutional investors and other market participants in the alternative investment fund space. Kirkland’s strength lies in our unique ability to bring together best-in-class lawyers in all major markets across an extensive, cross-border private equity platform in the United States, Europe and Asia-Pacific. With more than 570 dedicated Investment Funds attorneys, no other law firm matches the breadth, depth and scope of Kirkland’s experience in investment funds legal services. In addition to offering one of the largest and most active investment funds practices in the world, Kirkland’s platform also includes a dedicated fund finance bench that brings in-depth practical market knowledge to a wide range of financing structures. Since 2018, Kirkland has executed more than 1,000 fund financing transactions for over 400 clients, including more than 110 NAV facilities, representing approximately $248 billion in aggregate transaction value.

Lloyds Bank

Lloyds Bank Corporates & Institutional

Since 1765, we have been providing expert support and guidance to businesses of Britain. Supporting British businesses and the UK economy continues to be central to what we do.

Our Corporate and Institutional franchise maintains active relationships with two-thirds of the FTSE 350, supporting clients with annual turnover in excess of £100m.

With a well-established sector focus, we continue to drive our purpose outcomes by supporting goals such as regional development and building on our green financing initiatives to support more clients with their transition plans.

We support clients with their core banking solutions such as lending, deposits, transaction banking and risk management services. We also provide extensive expertise in capital markets, financial markets and private equity, all of which aim to meet the varying and often complex needs of our clients.

To find out more about Lloyds Bank Corporates and Institutional head over to our website:

Corporate Banking | Business Banking | Lloyds Bank

Loyens & Loeff

Loyens & Loeff is a leading law firm with integrated legal and tax practices. We handle all matters relating to investment funds, banking, corporate, private equity, real estate and tax law. Our offices in the Benelux and Switzerland mainly represent banks, financial institutions, investment funds and corporations, operating internationally.

The fund finance team of Loyens & Loeff advises in relation to the structuring of fund finance transactions and the related security packages. Relying on our extensive experience in the structuring of capital call subscription credit facilities, permanent leverage facilities and GP facilities, we handle transactions involving alternative or regulated investment fund borrowers of all types, sizes and asset classes. Major lenders, investment fund managers, sponsors and market players in both the US and European markets count on our expertise regarding fund finance transactions. Our dedicated fund finance team has successfully acted for the most active international banks, arrangers, lenders and fund managers in these markets.

Maples Group

The Maples Group, through its leading international legal services firms, advises global financial, institutional, business and private clients on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, and is an independent provider of fiduciary, fund services, regulatory and compliance, and entity formation and management services. Combining the Maples Group’s leading finance and investment funds capability, the Group’s Fund Finance team has widespread experience in advising on all aspects of fund finance and related security structures for both lenders and borrowers.

The Maples Group distinguishes itself with a client-focused approach, providing solutions tailored to their specific needs. Its global network of lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East to ensure that clients gain immediate access to expert advice and bespoke support, within convenient time zones.

Visit www.maples.com for more information about our global fund finance team and our legal and fiduciary services.

Mayer Brown

Mayer Brown, the founding sponsor of the Annual Subscription Facility and Fund Finance Symposium, is a global legal services organization advising clients across the Americas, Asia and Europe. Our presence in the world’s leading markets enables us to offer clients access to local market knowledge combined with global reach. Mayer Brown’s finance platform is based on the Firm’s global position and our balanced and integrated practice, which encompasses all the focused skill sets that our clients demand— from cross-border acquisition finance and international capital markets work to project finance, structured finance, and derivatives.

Mayer Brown is a market leader and has acted as Adviser to Lenders and Funds on over 500 subscription credit facilities in the last two years. The firm has relationships with every major US lender along with the majority of active lenders in the European and Asian markets. The team has led transactions funded by balance sheet lenders and commercial paper conduits as well as large syndicated facilities to accommodate various types of insurance companies. Its lawyers are experienced documenting the full suite of fund and portfolio-level financings including subscription-backed credit facilities, NAV facilities, private placements, equity commitment facilities, hybrid facilities, open-end fund facilities, management fee credit lines and an assortment of leveraged asset level transactions.

MUFG Investor Services

MUFG Investor Services is a leading solutions provider for the global alternative investment management industry. From 17 locations around the world, MUFG Investor Services, through its suite of solutions, helps clients mitigate risk, execute seamlessly, and increase efficiencies across their pre- and post-trade operations. With more than $1 trillion in assets under administration, MUFG Investor Services is one of the top fund administrators globally and provides a broad range of solutions including administration, asset servicing, banking and liquidity, corporate and regulatory services, financing, business consulting, and more. Its nearly 500 clients represent funds across the public and private markets, including hedge funds, fund of funds, private equity, private debt, real assets, infrastructure, mutual funds, venture capital, and more. MUFG Investor Services is a division of Mitsubishi UFJ Financial Group, Inc (MUFG) one of the largest banks in the world with approximately $3 trillion in assets. To learn more, please visit us at www.mufginvestorservices.com.

Ogier

Recommended as a top-tier firm by Legal 500, Ogier has advised on fund finance since the inception of the funds industry, regularly acting for banks, financial institutions, funds and sponsors on a full range of fund finance transactions. The firm's specialists are highly accomplished and many of its lawyers have been actively involved in drafting key legislation that underpins the fund structures in BVI, Cayman Islands, Guernsey, Ireland, Jersey and Luxembourg, making Ogier the only firm to advise on those six laws. The diverse nature of Ogier's practice provides its team with valuable insight and understanding of the funds market and the legal and commercial issues relevant to borrowers and lenders alike. With a growing team of more than 1,000 people across 12 of the world's most distinguished international finance centres, Ogier's 'hands-on' partner-led teams ensure a consistent approach, while providing responsive and practical advice.

Visit www.ogier.com to read more about Ogier's fund finance offering and see the global team.

RBS International

We specialise in helping institutional clients look after their money and manage risk. This includes transactional banking, fund financing, liquidity and risk management, and depositary services (through separate legal entities). We’re based in Jersey, Guernsey, London, Luxembourg, Gibraltar and the Isle of Man so our clients get personal, tailored support from a local expert. And our multi-currency online banking platform, eQ, lets them move and manage money the same way they do their personal banking.

Our clients include alternative investment fund managers, asset managers, fund administrators and corporate service providers. With our culture of restless innovation, we work to make banking easy. We’re focused on delivering all the services our clients need, where and when they need them.

Reed Smith

Reed Smith is a market-leading international law firm specializing in fund finance. With more than 1,700 lawyers across 31 offices, we advise lenders and funds on capital call/subscription lines, NAV and asset-backed facilities, secondary funds facilities, hybrid facilities, co-investment and GP/manager support facilities and other fund liquidity facilities in Europe, the U.S., Asia and the UAE. We have one of the largest team of fund finance lawyers globally and provide specialist advice on the new and developing products in this area. Reed Smith has particular capability with financings of direct lending, secondary and PE funds. Reed Smith’s fund finance team sits within our Financial Industry Group, that contains more than 210 lawyers who provide dedicated multi-jurisdictional services to clients in the financial sector, focusing on finance, funds and investment management, regulatory, tax, litigation and commercial restructuring and bankruptcy.

Simmons & Simmons LLP

Collaborative, agile and partner-led: that’s Simmons & Simmons. A law firm that challenges, creates new possibilities and offers opinion not just option. A law firm that acts as your business partner and works with you, not for you.

We focus on four highly regulated sectors using our specialist skills to understand your business, and the forces at play around it. All grounded in exceptional knowledge of the legal detail. This is how we consistently deliver smarter, more efficient ways to tackle our clients’ most complex challenges.

Our International Funds Finance practice is no exception. Operating across the UK, Europe, Middle East and Asia, we’re recognised for both technical excellence and outstanding commerciality. The team advises banks, hedge fund managers, private equity funds, real estate funds and investment fund managers in connection with a wide range of financings involving many different fund asset classes. As both the Asset Management/ Investment Funds and Financial Institutions sectors are key areas of focus for our firm, whether we are acting for a lender or a borrower, we are able to deliver an efficient and high calibre service.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP (www.simpsonthacher.com) is one of the world’s leading international law firms. The Firm was established in 1884 and today has more than 1,300 lawyers. Building on over 135 years of experience, the Firm has played a substantial role in many of the most complex and noteworthy transactions and matters of the last decades. Headquartered in New York with offices in Beijing, Brussels, Hong Kong, Houston, London, Los Angeles, Palo Alto, São Paulo, Tokyo and Washington, D.C., the Firm provides coordinated legal advice and transactional capability to clients around the globe.

The Firm offers a market-leading fund finance practice with deep experience providing fund- and asset-level leverage solutions for private equity, real estate, investment, special situations and infrastructure funds. Complementing the Firm’s preeminent private funds practice, our global fund finance team represents clients across a broad spectrum of transactions encompassing all aspects of the investment management business.

Validus

Validus is a leading independent financial services firm, providing market risk management, fund finance advisory and technology solutions to the alternative investment industry. Our clients have more than $2 trillion in combined assets under management.

Since 2010 our core expertise has been to deliver effective and efficient risk management solutions for alternative investment firms, mitigating exposures such as foreign currency or interest rates. Our award winning service also includes turnkey solutions to the operational challenge of implementing, managing and monitoring hedging programmes, through dedicated resources and proprietary technology.

We also provide expert advice and resources to sponsors seeking to establish, refinance and re-negotiate fund finance facilities. Our unique position in the industry enables us to help clients navigate and benchmark the market, design and evaluate optimal structures, and negotiate terms to best meet their requirements.

Wells Fargo Bank

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy.

Gold Sponsors

17Capital

17Capital is a private credit manager, specializing in NAV finance for the private equity industry. It provides non-dilutive capital to high-quality private equity management companies, funds, and institutional investors as part of their toolkit for value creation and portfolio management.

Founded in 2008, 17Capital has completed over 100 investments and 50 exits, deploying more than $13 billion since inception. 17Capital has raised $13 billion across six successive funds and mandates. . In July 2022, 17Capital announced the completion of Oaktree’s acquisition of a majority interest in 17Capital. The partnership will give 17Capital access to Oaktree’s deep global network. Following the closing of the transaction, 17Capital, will continue to operate as an independent business, with its own product offerings and investment, marketing, and support teams.

abrdn

abrdn operates in over 24 locations worldwide and manages £366.7 billion of assets for our clients. By offering investment expertise across all key asset classes, regions and markets, we help our clients to capture investment potential wherever it arises. We combine fundamental research, thematic thinking, sustainable best practice and extensive on-the-ground analysis. This helps us to find the most future-fit investment opportunities, globally. We offer clients access to all major areas of private credit in Europe, including commercial real estate debt, infrastructure debt, corporate private placement debt, direct (mid-market) lending and syndicated loans. We manage close to £11 billion of capital across these strategies.

Allvue

Allvue is a leading provider of technology for investment managers in the private capital and credit markets industry. Its mission is to empower superior investment decisions by pairing modern cloud-based software solutions with capabilities across multiple asset classes. Allvue’s software solutions serve the entire investment lifecycle and are seamlessly integrated to provide a comprehensive product suite, serving investment managers of all sizes worldwide. With a commitment to innovation and a focus on multiple asset classes, Allvue’s software solutions allow its clients to operate and grow their businesses more effectively by automating manual processes, improving data accuracy and consistency across workflows, and delivering enhanced analytics.

Assured Guaranty

With $11 billion in claims-paying resources and over three decades of structured finance and infrastructure finance experience, Assured Guaranty is the world’s leading provider of financial guaranty insurance. Its U.S., U.K. and French insurance subsidiaries work with banks, investors, issuers, arrangers and their advisors to provide cost-effective credit enhancement for capital market financings in developed markets around the world. Assured Guaranty guarantees timely principal and interest payments, improving the creditworthiness, potential marketability and market liquidity in both new and secondary markets for consumer and commercial asset-backed securities, collateralized loan obligations (CLOs), infrastructure financings and subscription finance. Assured’s guaranty enables risk transfer in public or private transactions for banks, insurance companies and asset managers to optimize the risk profile, internal exposure limits and capital consumption of existing and prospective portfolio exposure. Learn more at AssuredGuaranty.com.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

www.bankofamerica.com

Commonwealth Bank of Australia (CBA)

Connecting local and international opportunities to build a brighter Australia.

As one of Australia’s most recognised brands, Commonwealth Bank of Australia (CBA) is a leading provider of personal banking, business and institutional banking and share broking services in Australia. CBA has a strong balance sheet, with total assets exceeding $A1,091.65 Billion (as at 30 June 2021).

Headquartered in Sydney, Australia, and with offices in Europe, the US and Asia Pacific, CBA is strategically positioned to work with clients across global markets, while connecting non-Australian clients to opportunities both in Australia and around the world. As custodian of Australia’s largest customer transactional data set, CBA can connect global clients to Australian opportunities backed by data-generated insights. Our scale enables us to unlock alternative pools of liquidity and capital, with strong executional capabilities complemented by a network of corporate referrals and diverse international expertise.

The Institutional Banking & Markets division offers a full range of capital raising solutions and financial markets capabilities, as well as transactional and risk management products and services.

Debevoise & Plimpton

Debevoise & Plimpton LLP is a premier law firm with market-leading practices and a global perspective. Approximately 800 lawyers work in nine offices across three continents, within integrated global practices, serving clients around the world.

The firm has extensive experience in all aspects of fund-level financing transactions for different types of investment funds and their managers. It has been regularly representing sponsors for more than a decade in a broad range of transactions, including subscription credit facilities, leveraged portfolio acquisition and other asset-based financings, hybrid facilities, management company liquidity facilities and co-investment facilities.

Debevoise’s fund finance practice is global in nature, with strong teams in the U.S., Europe and Asia advising an international client base.

Fitch Ratings

As one of the world’s top three credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing supplementary credit analysis, ratings, research, and commentary to financial market participants.

For over 100 years, Fitch Ratings has been creating value for global markets through its rigorous analysis and deep expertise, which have resulted in a variety of market leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in more than 30 countries, which also includes Fitch Solutions.

With dual headquarters in London and New York, Fitch Group is owned by Hearst.

For additional information, please visit fitchratings.com.

ING

ING is a global bank with a strong European base. Our more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries.

Our purpose is to empower people to stay a step ahead in life and in business.

Our products include savings, payments, investments, loans and mortgages in most of our retail markets. For our Wholesale Banking clients we provide specialised lending, tailored corporate finance, debt and equity market solutions, sustainable finance solutions, payments & cash management and trade and treasury services.

Customer experience is what differentiates us and we’re continuously innovating to improve it. We also partner with others to bring disruptive ideas to the market faster.

ING’s dedicated Fund Finance team have a presence in London, Luxembourg, New York and Singapore.

Macfarlanes

Macfarlanes

We are a unique firm. Our blend of expertise, agility and culture means we have the flexibility to meet our clients’ most challenging demands and to champion innovation.

Our approach is simple. Our firm is built and shaped around the needs of our clients with whom we form long-lasting relationships. They entrust us with their most difficult and complex problems in the areas in which we practise. We find, recruit and train talented people from all backgrounds, who we want to have long-lasting careers with us and who will one day shape and lead the firm. To achieve this, we operate differently.

A simple model

We do not aim to be all things to all clients. Instead we have grown thoughtfully to provide the depth and breadth of services they need. We operate with our clients in three broad areas.

We assist them with their major transactions. This includes anything from complex M&A and real estate transactions to the creation of sophisticated financial products.
We assist our clients with their most consequential litigation and investigations.
We advise on all aspects of our clients’ private capital needs, working with asset managers, family offices and individual entrepreneurs, including, uniquely, through our market-leading private client practice.

The scope of our services is distinct. We are one of the foremost firms in each of these areas.

A different international approach

We operate from two offices: in London, our main office, and in Brussels, where we focus on EU law.

We have a strong international network which we work hard to maintain, as we view these firms as our partners in delivering services to our clients and to theirs. We work with the best lawyers for the mandate in each jurisdiction. This gives clients choice and enables us to provide them with the highest possible level of service.

A human-sized culture

We recruit people to build careers for the long term. We know each other personally which means we work together with cohesion and speed. We have a strong, independent culture, which is challenging and supportive, creating an entrepreneurial environment where everyone, at whatever level, can thrive.

National Australia Bank (NAB)

National Australia Bank (NAB) is a leading Australian bank. Our global Corporate and Institutional Bank serves Financial Institutions and Corporates through our offices in Australia, Asia the US and Europe. The New York based team provide full relationship services, originating and executing product solutions with a focus on infrastructure, sustainability and investor solutions. We work with some of the leading participants in the infrastructure sector – leading deals across all market segments including renewables, energy, resources, transport and commodities – and coordinate closely across fund and asset level exposures. We have a dedicated Funds business which operates globally through US, UK, Asia and Australia which provides banking and markets solutions for asset managers and financial sponsors. We are an agent for subscription financing and credit facilities for private and publicly listed funds.

Proskauer

Proskauer’s fund finance practice represents private funds, regulated investment companies, fund investors and lenders on a full range of financing transactions in the U.S. and the U.K. Our team provides innovative solutions at all levels of the capital structure, on matters involving secured and unsecured subscription/capital call facilities, NAV facilities, secondaries acquisitions, and GP, management and co-investment facilities. We have helped clients with leveraged secondary transactions for some of the world’s largest secondary funds, warehouse facilities for middle market lending joint ventures, NAV facilities backed by life insurance policies and hybrid facilities. We also employ a network of seasoned professionals across the firm, enabling us to understand any fund vehicle and appreciate the deal points that concern all parties.

State Street

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.8 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of September 30, 2024 includes approximately $83 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Silver Sponsors

Addleshaw Goddard LLP

AG is an international law firm, working from 18 offices around the world in the UK, Europe, the Middle East and Asia. By combining our own offices, our business groups and a network of preferred firms we offer a full range of legal services in over 200 jurisdictions.

We have a 3 partner-led (with over 50 years of combined experience) dedicated and collaborative Funds Finance team, one of the largest Funds Finance teams in the market and is a go-to firm for significant and complex cross-border Funds Finance transactions.

Few firms match the 360 degree breadth of practice AG brings to private investment fund managers and investors and their funders. The team works closely with AG’s Investment Management, Structured Finance and Securitisation teams which comprise of specialists in funds formation, tax and structuring, regulation and corporate and is one of the largest and most recognised practices in the UK.

Arendt & Medernach

about Arendt

We are lawyers, regulatory consultants, business advisors, tax, corporate and funds services experts.

We bridge the gap between legal advice and its implementation.

We take an integrated approach to solving your business issues.

We are Arendt - Luxembourg's leading legal, tax and business services firm.

about Arendt & Medernach

Arendt & Medernach is the leading independent business law firm in Luxembourg.

The firm’s international team of 400 legal professionals represents clients in all areas of Luxembourg business law, with representative offices in Hong Kong, London, New York and Paris.

Our service to clients is differentiated by the end to end specialist advice we offer, covering all legal, regulatory, taxation and advisory aspects of doing business in Luxembourg.

Arthur Cox LLP

Arthur Cox LLP is one of Ireland’s leading law firms. We have been at the forefront of developments in the legal landscape here for over 100 years, establishing one of the largest and most innovative law firms in the country – a firm that stands at the front of the industry. We are an “all-island” firm with offices in Dublin and Belfast. We also have offices in London, New York, and San Francisco. Our practice encompasses all aspects of corporate and business law.

With 600 legal staff and a total headcount of 900, we provide a comprehensive service to an international client base ranging from multinational organisations, banks, and financial institutions and established global leaders to government agencies and new players in emerging industry sectors.

Our story has been defined by our progressive outlook. For over 100 years, we have led the way in the legal field in Ireland, and have continuously worked to strive towards our goals. For our clients, we work to deliver the best service and support. With an independent, entrepreneurial spirit of innovation leading the way.

Bank of China Limited, London Branch

Established in 1912, Bank of China is the Bank with the longest continuous operation among all Chinese banks. As China’s most globalised and integrated bank, Bank of China has a well-established global service network with institutions set up across the Chinese mainland as well as in 62 countries and regions. It has established an integrated service platform based on the pillars of its corporate banking, personal banking, financial markets and other commercial banking business, which covers investment banking, direct investment, securities, insurance, funds, aircraft leasing and other areas, providing its customers with a comprehensive range of financial services.

Established in 1929, Bank of China London Branch is the first ever overseas Chinese financial institution in global financial centers. Its history in the UK perfectly illustrates the international journey of China’s modern financial services industry. Over the past 94 years, Bank of China has expanded steadily in the UK and has become the first choice for both Chinese ‘going-out’ customers and local UK customers seeking to establish relationships with China, with branches in the City of London, London Chinatown, Manchester, Birmingham, and Glasgow across the UK. It is taking a leading role amongst UK based Chinese financial institutions and is one of the mainstream foreign banks in the European market.

Goodwin

At Goodwin, we partner with our clients to practice law with integrity, ingenuity, agility, and ambition. Our 2,000+ lawyers across Europe, the United States and Asia excel at fund formation, complex transactions, high-stakes litigation and world-class advisory services in the private equity, technology, life sciences, real estate, and financial industries. In the fund finance space, we represent sponsors, lenders and other market participants on management financings, subscription lines, NAV facilities, secondaries transactions and an array of other innovative liquidity solutions. The firm’s unique combination of deep experience serving both the innovators and the investors in a rapidly-changing, technology-driven economy sets Goodwin apart. To learn more, visit, us at www.goodwinlaw.com and follow us on Twitter, LinkedIn and Instagram.

Mizuho Bank, Ltd.

Mizuho Financial Group, Inc. is the 15th largest bank in the world as measured by total assets of ~$2 trillion, according to S&P Global 2022. Mizuho's 60,000 employees worldwide offer comprehensive financial services to clients in 35 countries and 800 offices throughout Asia, EMEA, and the Americas.

Mizuho Singapore acts as a regional hub for Mizuho in the Asia Pacific region, and provides comprehensive regional support for clients in advisory, financing, debt and trade services. Mizuho APAC has a dedicated team supporting Asia MNC, both multinational and Japanese clients and its capabilities span across investment and corporate banking, capital markets, equity and fixed income sales & trading, derivatives, FX, custody and research. Mizuho Asia Pacific has over 50 branches, learn more at https://www.mizuhogroup.com/asia-pacific.

Mourant

Our market-leading funds team spans time-zones and has an outstanding international reputation in offshore investment funds, working across a wide range of alternative fund asset classes – traditionally real estate, private equity, credit and hedge funds. We advise on the formation, structuring and regulation of investment funds in the Cayman Islands, the BVI, Jersey and Guernsey, and our lawyers provide ongoing legal advice to offshore funds and their managers and investors.

Our ‘one firm’ approach means that working together with clients we deliver seamless, objective and commercially grounded advice on the comparative advantages and disadvantages of the leading offshore fund jurisdictions. Our team exercises true commercial judgment in delivering advice, often going the extra mile, with a personal approach, and forming genuine partnerships with our clients and their advisers. Clients benefit from our teams working together and making things happen in this way, resulting in deals being delivered on time and within budget.

Visit www.mourant.com to find out more.

Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.

Our teams of experts in about 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor's: A+, Moody's: A1, Fitch: A+, R&I: A+).

Rabobank

Rabobank is a cooperative bank with a mission. Together with our stakeholders, we have been dedicated to creating a future-proof society and tackling major societal challenges for 125 years. In the Netherlands, we serve retail and corporate clients; globally we focus on the food and agriculture sector. Our starting point is: together we can achieve more than we could individually. We now operate in 38 countries, with over 43,000 employees. In the Netherlands, we serve retail and corporate clients with a wide range of financial products and services. Across the world, we focus on entrepreneurs and companies in the food and agriculture sectors. The Rabobank Group also includes BPD, Obvion and DLL, with which we offer our clients housing and leasing solutions.

Scotiabank

Scotiabank’s vision is to be our clients’ most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at July 31, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).

Global Banking and Markets (GBM) conducts the Bank’s wholesale banking and capital markets business with corporate, government and institutional investor clients. GBM is a full-service wholesale bank and investment dealer in Canada and Mexico and offers a range of products and services in the U.S., Latin America and in select markets in Europe, Asia and Australia. For more information, please visit https://www.gbm.scotiabank.com/en.html.

SuMi TRUST

Established in 1925, Sumitomo Mitsui Trust Bank, Limited (“SuMi Trust”) is the largest Japanese trust bank, providing a wide range of banking and fiduciary services to its customers. In its domestic Japanese market, SuMi Trust business covers asset management, corporate and structured financing, real estate brokerage, mortgage loan and retail banking. In international market, SuMi Trust has branches in major global financial centers, where it is primarily focused on banking activity – most notably corporate and structured finance. SuMi Trust is well known not only for working openly and collaboratively with its banking clients, but also for seeking opportunities to introduce its Japanese investor partners enhanced investment solutions in line with its trust bank heritage.

Travers Thorp Alberga

Travers Thorp Alberga is a boutique Cayman Islands and British Virgin Islands law firm comprised only of the most experienced lawyers from both jurisdictions and modelled for the post-financial crisis environment. We specialize in highly technical structuring involving complex securities and regulatory issues. Our partners provide incisive and highly effective advice to the highest standard on all types of offshore entities including hedge funds, private equity, corporate and partnership vehicles, asset and structured finance, cryptocurrencies, ICOs/IEOs/STOs, capital markets, general corporate and commercial matters and private client. We advise across a broad- range of fund finance products with particular emphasis on subscription financing, asset backed financing (NAV facilities), hybrid, GP support and co-invest facilities including financings via umbrella facilities and separately managed accounts. We are highly experienced in financing diverse investments, including real estate, distressed assets, loan portfolios and acquisition of assets located in emerging markets. We advise from our offices in Grand Cayman, the British Virgin Islands, Hong Kong, London, New Zealand and Australia.

Bronze Sponsors

Brickfield Recruitment

Brickfield Fund Finance Recruitment is the only talent acquisition service dedicated to the global fund finance sector. Our in-depth knowledge of the fund finance market, complimented by a diligent and discreet personal approach, gives us an unparalleled ability to bring the right people together.

Founded in 2018, Brickfield plays a key role in facilitating moves at all levels within the fund finance industry, as well as bringing brand new talent into the industry to assure its long-term capacity for growth.

Brickfield also provides strategic counsel to banks, law firms, funds and alternative lenders facing challenges in attracting high quality candidates within this competitive recruitment market, advising on fund finance industry specifics and key guidance on issues such as base salary expectations, bonus benchmarking and brand reputation.

Brickfield is the exclusive publisher of the Fund Finance Bankers Compensation Report and the Working Guide to Fund Finance, a comprehensive “how-to” guide to European and offshore fund finance.

www.brickfieldrecruitment.com

Linklaters LLP

Linklaters is a leading international law firm with more than 3,000 lawyers across 31 offices in Europe, the Americas, the Middle East, Africa and Asia.

We have one of the broadest, deepest and most globally integrated funds practices of any law firm. Our global finance practice is at the top of the market and, within it, our fund finance team regularly advises across the full range of fund-based lending structures including subscription facilities, NAV and hybrid facilities, GP financings and co-investment loans. Our team is experienced across all asset classes, including private equity, emerging market, large buy-out and mid-market funds, debt, infrastructure, real estate, energy and fund of funds.

The team’s experience in acting not only for arranging banks and lenders but also for sponsors, asset managers and credit-enhancers across a wide range of sectors, means clients benefit from an incisive, forward-thinking approach to fund finance transactions.

Matheson

Matheson services the legal needs of internationally focused companies and financial institutions doing business in and from Ireland. Our clients include over half of the world’s 50 largest banks, 7 of the world’s 10 largest asset managers, 7 of the top 10 global technology brands and we have advised the majority of the Fortune 100 companies. Our Finance and Capital Markets team consists of more than 50 lawyers and advises financial institutions and corporations involved in arranging and executing all forms of finance and capital markets transactions in Ireland. We act for all of the major Irish banks and financial institutions, corporate borrowers and many of the world's leading international banks, investment managers and investment funds, securities and derivatives trading houses, broker dealers, insurance companies, alternative finance providers, supranational organisations, rating agencies, trustees and other financial services firms in relation to their lending, borrowing, finance and capital markets transactions and arrangements.

Morgan Stanley Private Wealth Management

Nordea

The Nordea Fund Finance team was established in 2014 and is a dedicated team of experienced fund finance professionals within our Leveraged Finance division. The team supports Nordea’s clients within the Private Capital segment with financing solutions across various strategies including private equity, infrastructure, growth, VC and private credit. We have the mandate and capabilities to support our clients with bespoke financing solutions across different fund sizes, geographies, as well as in various stages of fund life-cycles. In addition to subscription line financings, we can on a selective basis provide NAV/Hybrid financings, SMA financings, GP/Management financings and fund-backed HoldCo/SPV financings. As we form part of Nordea’s well established Leveraged Finance team, we commonly partner with our leveraged finance colleagues to provide flexible and tailor-made financing solutions across OpCo, HoldCo and fund level. We apply a deep and fundamental relationship-driven approach towards our clients and aim to establish ourselves as the #1 partner bank for global fund finance and Leveraged Finance business with a Nordic nexus.

OakNorth Bank

Launched in September 2015, OakNorth Bank provides fast, flexible debt finance (loans of £250k up to tens of millions of pounds) and has lent over £10B to date. Its experienced fund specialists have built a strong track record of supporting investment firms, private equity companies, and funds, providing bespoke debt finance solutions, including NAV financing, liquidity lines, capital call facilities, umbrella loan-on-loan facilities and more. Its expert lending teams have worked across a host of industry sectors, and have the in-house capabilities to understand each funds’ strategy – from asset level to fund level – offering the full spectrum of fund finance facilities within one team.

Pinsent Masons

Pinsent Masons is a multinational law firm with a reputation for delivering high-quality legal advice rooted in its deep understanding of the sectors and geographies in which our clients operate. With over 2,000 lawyers operating from 28 locations throughout Europe, Asia Pacific, the Middle East and Africa, Pinsent Mason is well-placed to advise on complex multi-jurisdictional matters across a full range of legal disciplines.

The firm has significant international credentials in the global energy, infrastructure, financial services, real estate and advanced manufacturing and technology sectors. When it comes to the fund finance industry, Pinsent Masons’ experts are involved in a wide range of transactions, including subscription facilities, NAV facilities, hybrid facilities, and GP and management fee facilities.

Seward & Kissel LLP

Seward & Kissel, founded in 1890, is a leading U.S. law firm with an international reputation for excellence. We have offices in New York City and Washington, D.C.

Our practice primarily focuses on corporate and litigation work for clients seeking legal expertise in the financial services, corporate finance and capital markets areas. The Firm is particularly well known for its representation of major commercial banks, investment banking firms, investment advisers and related investment funds (including mutual, hedge and private equity funds), broker-dealers, institutional investors and transportation companies (particularly in the shipping area).

The Firm’s attorneys are very experienced and highly regarded in their respective practice areas. Many have been with the Firm for most, if not all, of their legal careers. Our focus and expertise, combined with the Firm’s stability, have enabled us to create a work culture that is dedicated to professional excellence and sound judgment, and that is committed to providing our clients with effective, high quality, hands-on legal service.

Stephenson Harwood

Stephenson Harwood is a law firm with over 1300 people worldwide, including more than 200 partners. Our people are committed to achieving the goals of our clients listed and private companies, institutions and individuals.

We assemble teams of bright thinkers to match our clients' needs and give the right advice from the right person at the right time. Dedicating the highest calibre of legal talent to overcome the most complex issues, we deliver pragmatic, expert advice that is set squarely in the real world.

Our headquarters are in London, with eight offices across Asia, Europe and the Middle East. In addition we have forged close ties with other high quality law firms and an integrated local law capability in Singapore and the PRC. This diverse mix of expertise and culture results in a combination of deep local insight and the capability to provide a seamless international service.

Walkers

Walkers' global fund finance group comprises dedicated fund formation and finance lawyers who act on complex and innovative fund financing solutions and advise clients across the world’s financial markets. As one of the first offshore teams to work on subscription line credit transactions and hedge fund financing platforms, for both lender and borrower clients, we provide an unmatched depth of expertise across our global network in the Americas, EMEA and Asia. In a volatile world we are a safe pair of hands in safe jurisdictions.

Our fund financing teams have been at the forefront of the development of the fund finance market in these regions, working closely with leading financial institutions, investment managers and law firms. Our people and our approach to solving our clients challenges are tried and tested, but that doesn’t mean we ever stand still.

Walkers' global fund finance group provides commercially focused advice to both lenders and borrowers on a range of financing solutions. Our multi-disciplinary team has an in-depth understanding of the structures used by investment managers and the legal and commercial issues relevant to fund finance providers. Our clients include agents, banks, alternative lenders and investment fund managers, including private equity, credit, real estate and hedge funds. Markets change, regulation evolves, businesses adapt, and we keep on reinventing our service for the times we find ourselves in.

Media Partners

Global Legal Group

Global Legal Group is an independent digital media company based in central London. Our clients are private practice and in-house lawyers, multinational corporations, and professional services firms in over 190 countries around the world.

In 2011, GLG introduced Global Legal Insights, an essential analytical resource detailing current legal issues spanning 16 practice areas. Global Legal Insights – Fund Finance was launched in 2017. Affectionately known in the fund finance community as “The Pink Book”, it is now in its eighth edition, providing in-depth analysis of market conditions, regulations and laws, covering 19 key jurisdictions, as well as 27 expert analysis chapters, which provide comprehensive insight and up-to-date analysis. Our mission is to provide outstanding performance for our clients and partners.

We provide the digital technologies and expertise that they need to boost their brand exposure and market reach, as well as access to the world’s leading online network of legal experts. By only partnering with the leading legal and business authorities, we also ensure that the information we provide is topical, enlightening and authoritative, making our products the go-to resource.

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2023 London Journal

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