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Private Credit

Partnering with global private credit investors to help them unlock value and access opportunities as the industry expands.

We work with the most active private credit investors structuring novel debt and equity investments throughout the capital stack and across the world’s leading markets. We have an unmatched global footprint allowing us to connect with clients on the ground, wherever they are.

We advise over 80% of Private Debt Investor’s 2023 top 100 leading private credit firms across the full spectrum of investment strategies, including venture debt, direct lending, asset-based lending, speciality financing including fund financing, subordinated debt, special situations and distressed debt.

Leveraging our leading global finance, capital markets, funds, real estate, infrastructure, restructuring, regulatory and tax groups, our private credit practice benefits from being able to call on the expertise of product and sector specialists from across our network to provide an integrated and nimble team that can handle the most complex cross-border investments.

Our lawyers also regularly engage with key industry stakeholders and trade association bodies to shape the industry's future and keep our clients ahead of the curve.

Our experience

Private credit lenders

Private credit lenders

We advised the debt financiers on Asda’s GBP2.2bn acquisition of EG Group’s UK and Ireland operations, one of the largest private debt deals in the UK market. 
Barings

Barings

We advised Barings on the financing for the acquisition of insurance broker, AlliA, by Apheon (previously Ergon Capital). 
A European secondaries fund

A European secondaries fund

We advised a European secondaries fund in relation to a NAV facility secured on a portfolio of LP interests valued in excess of EUR4bn.
Starwood

Starwood

We advised Starwood on its financing to Blackstone for the AUD8.9bn acquisition of Crown Resorts Limited, a publicly-listed Australian gaming company.

Eurazeo

Eurazeo

We advised Eurazeo on the financing for the refinancing of the Kinly Group, owned by Avedon Capital Partners, including additional financing for the acquisition by Kinly of AVMI.

Private credit lenders

Private credit lenders

We advised a number of private credit funds on a USD1bn recurring revenue financing to back an acquisition in the technology industry by a major private equity fund.

News and insights

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Publications: 05 October 2023

Evolution of private debt market provides deal-makers with more flexible financing options

Private equity sponsors have faced a challenging landscape in the debt markets over the past 18 months. Finding leverage for acquisitions when significant parts of the capital markets had brought down…

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Publications: 05 October 2023

Funds use range of techniques to fill funding gaps and navigate M&A valuation mismatches

From NAV financings to preferred equity, holdco PIK financings and partial sales, sponsors are finding creative ways to navigate current market volatility. Here we explain what to look out for in…

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Publications: 05 October 2023

Tax reforms focus on the substance of holding companies and treatment of carried interest

Fundamental changes to the international tax framework are having an impact on deal structures, modelling and financial cash flows. And there are further developments on the horizon.

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Financing the Economy

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Recognition

Awards and Achievements

  • Band 1 – Banking & Finance Chambers Global 2023
  • Band 1 – Capital Markets: Structured Finance, Securitisation & Derivatives Chambers Global 2023
  • Tier 1 – Investment Funds: Fund Formation Legal 500 2023
  • Law Firm of the Year – Transactions, Asia & Europe (Shortlisted) Private Debt Investor 2023
  • CLO Law Firm of the Year GlobalCapital European Securitization Awards, 2022, 2021, 2020
  • Banking and Finance Law Firm of the Year Legal 500 China Awards 2023
  • Best Financial Law Firm in Spain  Expansión (Spanish Financial Times), 2023, 2022 
 

Private capital insights

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We help the world’s leading private capital firms succeed in an increasingly dynamic and complex environment.

Here our global team share their insights on the key issues facing funds across the private capital spectrum, informed by our experience on the biggest deals, regulatory challenges and disputes.