Fund Finance

Haynes Boone is a global leader in representation of U.S. and foreign commercial and investment banks providing a range of fund finance products and solutions for private equity funds and sponsors in North America, Europe, Latin America and Asia. Working with our preeminent investment funds group, we also represent private funds in helping them secure and structure fund finance credit facilities. The firm's clients benefit from our more than 40 years of industry experience with the ever evolving suite of fund finance products, including subscription facilities, separately managed account facilities, NAV loans, general partner loans, employee co-invest facilities, management company lines of credit, and hybrid facilities. We take a multi-disciplinary approach to working with our clients and their customers on each transaction, collaborating with experienced lawyers across our firm. Our team of 70+ fund finance lawyers and other professionals engages with our clients at the earliest stages of the deals to structure facilities that take into account current market factors, the objectives of all parties, institutional investor relations, and the latest legal issues. This approach permits us to reconcile our client's and the borrower's operational and investor needs in each transaction, and often to contribute to solutions that lead to more effective structures and efficient execution.

Our team has been recognized for its contributions and leadership within the fund finance industry. Our attorneys participate in nine different committees within the Fund Finance Association, several of our attorneys have been recognized as Rising Stars in the industry, and Tim Powers received the Julian Black Lifetime Contribution to Industry Award.

In the last two years alone, we have represented lead agents, lenders, sponsors and funds in structuring and documenting capital commitment subscription and other fund finance facilities with total value of over $100 billion, to domestic and global private equity funds across Asia, Europe, North America and Latin America.

Key transactions have included:

• Representation of the administrative agent and arrangers with respect to a $4 billion syndicated, multi-currency, subscription secured credit facility for a $8 billion global real estate fund.
• Representation for the administrative agent and arrangers with respect to a $3.3 billion syndicated subscription-secured credit facility for a $16.524 billion global private equity fund.
• Representation of the lead agent and arrangers with respect to a $3 billion syndicated, multi-currency, subscription secured credit facility for a $18 billion infrastructure fund.
• Representation of a U.S. bank, as lender, in a $50 million term loan facility secured by interests in an investment fund.
• Representation of a large U.S. bank in connection with credit facilities aggregating $1.5 billion extended to foreign and domestic investment funds and secured by such funds’ investment portfolios.
• Representation of a large banking institution, as Sole Left Lead Arranger and Administrative Agent, in a $450 million multi-currency revolving credit facility to a value add fund.
• Representation of a U.S. bank in connection with a NAV facility extended to a private equity investment fund and secured by holdings in various companies, including a publicly traded equity fund and private pre-IPO shares of U.S. and foreign consumer electronic and technology companies.
• $1 billion multi-currency capital commitment subscription facility to a leading Japan- and China-focused real estate fund, with Japanese TMK financing options
• Over $800 million subscription secured facilities to separate account private equity funds, established for sovereign wealth funds
• $300 million capital commitment subscription facility to a Korea-focused real estate fund