Banking & Finance: Fund Finance | UK

King & Spalding is particularly popular with direct lender clients whom it regularly advises on cross-border acquisition financings. Its repertoire includes experience in revolving credit facilities, term loans and unitranche facilities. In September 2024, the firm hired a market-leading fund finance team from Cadwalader.

Reed Smith has a significant mid-market practice that carries out leveraged finance transactions, fund finance and asset-based lending advice. The team offers additional strength in the real estate finance space. It is able to capitalise upon its established relationships with clearing banks to provide solid lender-side counsel in addition to representing alternative lenders. The firm boasts significant cross-border capabilities.

Ashurst has a well-established team of banking experts that assists both lenders and borrowers on a full range of mid-market financings. The team is also known for its work in the credit funds space as well as for its relationships with leading sponsors. It works across the spectrum of leveraged finance deals, with established expertise in unitranche structures and term loan B facilities. The team additionally offers notable expertise in fund finance as well as Islamic finance matters.

Clifford Chance has a significant finance practice, which is sought out by high-calibre corporates, financial institutions and private equity sponsors in the leveraged and investment-grade markets. The team is well-positioned to advise on the full range of financial instruments, from European covenant-lite structures to term loan B facilities. The department is additionally noted for its ability to advise lenders in EMEA on high-value transactions and has recently been particularly active in the infrastructure space. The team has long-established experts in the fund finance space, where it advises both sponsors and lenders.

Debevoise & Plimpton is a well-regarded finance practice noted for its expertise in acquisition and fund financing matters, demonstrating particular sector expertise in private equity. It regularly acts for a range of international sponsors while complementing its practice with prominent UK corporate borrowers. The department has additional expertise advising on bond financings and financial restructurings.

Fried, Frank, Harris, Shriver & Jacobson LLP has established a strong fund finance practice with experienced practitioners. The team is particularly noted for assisting sponsors on subscription line facilities, including on sustainability-linked products and innovative structures. Fried, Frank also offers expertise in general acquisition and leveraged finance, with a growing reputation among direct lenders.

Haynes and Boone is a well-regarded London team noted for its representation of lender-side clients such as banks and funds. It advises across the full spectrum of financings and has noteworthy strength in fund finance and structured finance transactions. The team has an expert knowledge of the real estate sector and is adept at cross-border financings. The law firm has a depth of experience in matters concerning the USA and Europe.

Kirkland & Ellis houses a standout bench of market-leading sponsor-side specialists who are able to provide advice on the full gamut of European and US financing products. The team is active across the spectrum of mid-market to large-cap deals, acting on behalf of both domestic and international private equity clients. It is identified for its deft handling of bank and bond-financed LBOs and refinancings and ably assists clients with distressed matters spanning portfolio acquisitions and rescue financings. Its recent standout matters include cross-border P2P financings as well as preferred-equity structures. The law firm additionally offers a strong fund finance practice catering to investment fund clients.

Macfarlanes has notable strengths in handling complex and bespoke mid-market deals for lenders, sponsors and their portfolio companies as well as corporate borrowers. The practice spans the full scope of financing matters from corporate to leveraged and fund finance, complementing its offering with real estate and litigation finance as well as regulatory and restructuring expertise. Macfarlanes is equipped to advise on domestic and cross-border matters, with additional experience advising on the English law aspects of high-yield bonds. The team have also established a strong foothold in the credit fund space.

Mayer Brown handles complex and bespoke deals for lender clients, with additional expertise in borrower mandates. The firm's practice spans the full scope of financing matters, from structured finance to project finance and speciality finance. It has noted expertise in acquisition and leveraged finance --and is well-equipped to advise on domestic and cross-border matters, with additional experience advising on the English law aspects of high-yield bonds. The team is also recognised for its fund finance work.

Simpson Thacher & Bartlett is a market-leading practice and go-to team for leveraged finance and refinancing transactions for sponsors. The team has a wealth of expertise advising on work spanning senior secured loans, bridge loans and high-yield bonds. Its premier team is able to handle US financial instruments and also boasts the ability to advise on fund finance transactions. The team remains a popular choice for global private equity clients and their portfolio companies.

Travers Smith has a deep pool of specialist finance advisors who work with sponsors, lenders and corporate borrowers on mid-market matters. The team has specialist knowledge in the area of fund finance, corporate loans and leveraged acquisition finance. It demonstrates broad sector expertise, continuing to advise on deals in the media, leisure and technology industries, in addition to the retail and infrastructure sectors, among others. The firm handles matters for an impressive client list that includes several high-profile private equity houses and international financial institutions.

Addleshaw Goddard acts for a host of lender-side clients on a range of mid-market matters, from investment-grade lending to leveraged finance transactions. It is noted for its particular strength in real estate and project financing. The team has growing capabilities representing corporates and sponsors, in addition to demonstrating expertise across fund finance, asset-based lending and transportation finance. The team has broad sector expertise including retail, financial services and technology.

Proskauer Rose has a standout lender offering with specialist expertise acting for alternative capital providers. The team regularly advises clients on a range of financing matters from acquisition finance to refinancings. The firm's transatlantic practice assists clients with multi-jurisdictional matters spanning the USA and Europe.

Simmons & Simmons has a standout practice that acts for clients on domestic and cross-border transactions. The team represents a stable of leading clients that includes traditional bank lenders as well as corporate borrowers and funds. The firm's lawyers have broad experience spanning the finance market and it has complementary strength in fund finance and acquisition finance matters. It has notable experience of deals in the Nordic region.