England - London • Investment fund formation and management

Ashurst

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The global and ‘market leading’ fund finance practice at Ashurst consists of a ’good collection’ of ‘outstanding’ lawyers and acts for funds and lenders on traditional fund finance and new products including NAV, hybrid, GP and sharia fund financings. Supported by teams in Europe, Asia, Australia and the US, the team is also well-versed in tax, regulatory and securitisation matters and has its hand in the sustainable finance market, advising borrowers, lenders, sponsors, and investors. The team is headed up by:  Lee Doyle; the ’trusted’ Nick Wong, who sits in the global loans practice and specialises in acting for borrowers and lenders in the insurance and reinsurance sector and for various funds including private equity funds, real estate funds and credit funds; Navdeep Benning, who advises on capital call, NAV and asset backed facilities, GP and co-investment facilities and single-investor facilities; Robert Andrews, who has ‘impressive technical skill,’ and offers ’commercially pragmatic advice;’ the ‘exceptionally talented lawyer’ and expert in fund finance, leveraged finance and private debt, Doug Murning; and newly promoted partner Briony Holcombe, who offers ’great commercial awareness and a pragmatic attitude,’ and has a client roster that includes financial institutions, corporate borrowers and funds.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘Ashurst has a good collection of fund finance partners, the majority of whom work well in the fund finance market. We work with Ashurst on some of our very largest transactions and they are practical, efficient and commercial. They are often a pleasure to work with, which is not the case for many law firms. Doug Murning is an excellent, detail-oriented and commercial lawyer. He works on NAV transactions and brings a strong leverage finance background to fund finance. He deserves recognition. Briony Holcombe is an up-and-coming young partner, who is making great strides at Ashurst. She is practical, commercial and very willing to be pragmatic. We love working with her and recommend her to others whenever we can.’

  • ‘The team is cohesive, well managed, thoughtful, experienced and consistent. The practice has key relationship people at partner and associate level and these include Robert Andrews who has so much wisdom and experience, cares deeply about the details, and once those are addressed is helpful in finding solutions. Briony Holcombe and Robert come as a package, they know how each other work, deals can move seamlessly between them, and that is really important for an institutional relationship.’

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Key clients

  • Assured Guaranty
  • Barclays

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Work highlights

  • Advises Nordea Bank SBP, Filial I Sverige and Skandinaviska Enskilda Banked AB (Publ) on a single investor subscription line facility, made available to Bridgepoint Advisors' direct lending fund, Bridgepoint Direct Lending III.
  • Acted for an investment bank in relation to two facilities provided to managed funds, in each case secured against certain investments of the fund held directly and indirectly via special purpose vehicles.

Abbreviated data is displayed for this firm.