Private Credit
For three decades we have guided private credit clients through the ever-evolving legal, regulatory, and commercial landscape of the nearly US$2 trillion global private credit market. Our integrated team of private credit lawyers are globally positioned to provide comprehensive legal advice to private credit sponsors in all the major jurisdictions across Asia, Australia, Europe, the Middle East, and North America.
Our representation extends to all aspects of fund formation, fund-level financing, portfolio investments, and management and strategic transactions, including secondaries and mergers and acquisitions of fund sponsors, as well as disputes and contentious matters involving both governmental agencies and transactional counterparties. With experience spanning thousands of private credit funds and transactions, we deliver deep market insight and practical, commercially focused solutions that enable fund managers to offer customized, innovative deal structures to their investors.
Working across our global platform, we draw on the collaborative experience of our entire firm—including Asset Management and Investment Funds, Capital Markets, Derivatives and Commodities, ERISA, Finance, Private Equity, and Tax—to provide clients with proactive early intelligence on emerging trends and regulatory changes shaping the future of the private credit sector.
Our Solutions
Private Credit Fund Formation and Regulatory
We advise sponsors ranging from emerging managers raising US$10 million to institutional managers raising more than US$5 billion. With an appreciation for the need to tailor advice based on the target investor base, we work with our clients to identify and implement the most appropriate structure for organizing their businesses and fund offerings, including selecting the optimal jurisdiction and legal structure.
Our private credit fund formation lawyers have helped sponsors launch funds with investors of every type around the globe. We provide solutions that minimize tax and operational burdens while maximizing investor appeal. Our long-standing relationships with a broad array of sponsors, deep bench of experienced investment management lawyers—including those with in-house and regulatory experience—and intimate familiarity with the needs and concerns of leading institutional investors provide us with a distinctive advantage in structuring funds and related investment arrangements.
The group's breadth of experience across asset classes and jurisdictions—combined with sophisticated knowledge of formation, transactions, regulation, and operations—allows us to anticipate issues before they arise and to provide holistic, efficient, and practical advice to our clients.
Private Credit Fund Finance
Our finance team advises the leading private credit investors and sponsors on complex financing structures and leverage strategies. We regularly represent parties on both the borrower and lender sides of loans to private credit funds supporting middle market and large-cap syndicated investments. Our team has extensive experience across traditional and innovative fund finance structures, including subscription lines, and NAV facilities. For nearly three decades, we have supported financial institutions, alternative lenders, asset managers, and investment funds throughout the entirety of fund lifecycles—from formation and leverage planning through the investment periods and both successful and distressed portfolio exits—delivering practical, effective financing solutions grounded in a deep technical understanding of fund structures and available financing options.
Portfolio Investments and Management
Our team has extensive experience representing private credit lenders and investors in every type of portfolio financing transaction across traditional and innovative fund finance structures, including asset based facilities, structured financings, secured and unsecured facilities, uni-tranche, and holdco notes.
Global Tax
With a global network of lawyers devoting their practices solely to tax issues, we provide integrated commercial and tax advice on planning, investment, cross-border transactions, litigation and tax controversies, and legislative and regulatory projects. We are committed to familiarizing ourselves with our clients’ sensitivities, structures, and desired deal terms, including understanding any special needs arising from a particular fund structure.
Strategic Transactions
We regularly represent our fund clients in strategic transactions, including both GP-led and LP-led secondary transactions, seeding stakes, and continuation vehicles, as well as strategic equity investments in the sponsor GP and management company vehicles and acquisitions and divestitures of fund sponsors and their portfolios.
Private Credit Litigation
We represent global and US-based financial institutions, private equity firms, capital providers, asset managers, and senior executives in a wide range of litigation and investigations related to transactional disputes at every layer of the capital stack, as well as governmental investigations relating to financial fraud and market manipulation. Our approach leverages a nuanced understanding of financial markets and products, practical experience navigating economic cycles and crises, and insight into evolving liability standards.
Our team has extensive experience defending clients against regulatory investigations and enforcement actions from agencies such as the DOJ, SEC, CFTC, and state attorneys general. We support financial institutions throughout the process, from initial inquiries and subpoena responses to enforcement defense and litigation, aiming to reduce legal exposure and protect business interests. Our strong industry knowledge and relationships with regulators enable us to resolve complex matters favorably, including achieving dismissals of claims or obtaining termination letters.
By taking a proactive approach, we ensure our clients are ready to respond to regulatory scrutiny, safeguard their reputations, and continue growing despite a rapidly changing environment.
Strategies and Industries
Our private credit lawyers focus on a wide array of strategies and industries.
Strategies
- Asset-backed Lending
- Direct Lending
- Distressed Debt
- Permanent Capital Solutions
- Secondaries (both GP and LP)
- Special Situations (both in-court proceedings and out-of-court)
- Specialty Finance
- Subordinated Debt
- Uni-tranche
- Venture Debt
Key Industry Sectors
- Agribusiness
- Business Services
- Consumer Staples
- Financial Services
- Healthcare and Life Sciences
- Manufacturing
- Technology and Telecom
- Transportation
