K&L Gates Advises SLC Management on Closing of $500 Million 2020 TALF Fund
New York - Global law firm K&L Gates LLP recently advised SLC Management, the institutional asset management business of leading global financial services firm Sun Life Financial, on the formation of an investment fund for investment-grade asset-backed securities using leverage obtained through the United States Federal Reserve’s Term Asset-Backed Securities Loan Facility (TALF) program. SLC has raised US$500 million for the fund, which was two-times oversubscribed and allows U.S. and international institutional investors to take advantage of the TALF program’s loan terms.
The K&L Gates team that advised SLC Management -- working closely with the company’s in-house legal team led by Neil Blue, Sumbul Ali, and Patrick Newton -- was headed by partner Yasho Lahiri and included partners Ruth Delaney, Cary Meer, Tony Nolan, Adam Tejeda, and Rob Weiss; and associates Amanda Strickler and Chris Carson.
Lahiri stated: “It was a distinct honor for our firm to assist in this project. SLC Management and the fund investors have the prospect of attractive investment returns, and they are also serving a vital public purpose. As a result of the capital raised here, and multiplied through the benefits of the TALF program, businesses and consumers throughout the United States will receive essential financing during a time of unprecedented crisis.”
SLC’s Blue added: “The speed at which we brought the SLC Management TALF Partners Fund successfully to market was remarkable, and was only accomplished because of the seamless manner in which in-house counsel, K&L Gates, and our internal business partners at SLC Management worked together.”
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.