Clifford Chance LLP has a longstanding reputation across a wide range of facilities, including subscription credit facilities, NAV facilities and hybrid facilities. The team’s diverse clientele encompasses both bank and non-bank lenders, the full spectrum of funds, as well as sponsors. Robert Lee is a seasoned practitioner with deep experience acting on the sponsor side for private equity, real estate, and private debt funds. A new addition to the team from Mayer Brown International LLP, Aimee Sharman, joined in February 2025 and is an expert in subscription credit facilities and more complex, bespoke fund finance solutions. Isabella Mashru is singled out for her expertise with large sponsors across the full gamut of asset classes. Richard Day draws on his leveraged experience to advise on structured fund financings. Matt Lilley, who also joined from Mayer Brown International LLP in February 2025, also comes recommended.

Debevoise & Plimpton LLP‘s stellar fund finance practice places PE nav financings at its core. The team has a significant focus on private equity and advises on the entire spectrum of fund financing products, including ESG-linked facilities and hybrids. Thomas Smith oversees the team and leads on the team’s most sophisticated matters, including for EQT and Bridgepoint, and is a first port of call for his large blue-chip sponsor and lender clients. Pierre Maugüé is highlighted for his international expertise, regularly advising on cross-border transactions. Rounding out the team are Almas Daud, who was promoted in July 2024, and Felix Paterson.

King & Spalding LLP has bolstered its fund finance offering with a team from Cadwalader, Wickersham & Taft LLP in September 2024. Samantha Hutchinson is highly regarded, advising syndicates and private credit funds on complex transactions, including NAV hybrid financing and umbrella facilities. Nathan Parker is well-versed across a range of financing products, while Mathan Navaratnam is praised for being an ‘excellent technical lawyer’, handling traditional subscription facilities alongside NAV facilities. James Hoggett is regularly instructed by private equity and private credit firms.

Kirkland & Ellis International LLP‘s fund finance practice maintains its stellar reputation in the fund finance space, drawing on the firm’s international network and excellent fund formation practice. The team is well-positioned to advise on the full spectrum of financing products at all stages of the fund lifecycle. The department is particularly known for its sponsor-side work, in which it is highly active. Overseeing a deep bench of specialists, Susannah Amini‘s reputation precedes her. Amini is a key authority for European private equity sponsors. Andrew Husdan joined in June 2025 from Clifford Chance LLP, and is an expert in syndicated and bilateral facilities for major banks and borrowers. George Dyesmith is another name to note, frequently advising on sub-line and NAV facilities. Sandipan De is lauded as a ‘superstar’, handling complex multi-jurisdictional deals for sponsors. Jack Bodkin is another key lawyer.

Ashurst maintains a strong position in the fund finance market. Both funders and lenders rely on the team for advice on complex transactions. With a strong foundation in traditional fund finance, including capital call and subscription facilities, the team also has a stellar track record of advising on NAV and innovative hybrid facilities. Robert Andrews is a standout practitioner, handling the full gamut of matters from syndicated subscription facilities to novel NAV secondaries facilities. Nick Wong is highlighted for advising leading lenders and sponsors on secured capital call facilities, while Navdeep Benning is well-versed in bespoke financing products. Briony Holcombe regularly handles matters involving a range of products for US-headquartered banks, alongside working on SMA financings.

The Cadwalader, Wickersham & Taft LLP is employed by significant bank and non-bank lenders for fund finance matters spanning the full breadth of products, including subscription and NAV facilities, and GP financings.  The team has recently expanded, with a number of key hires. Bronwen Jones joined from Reed Smith LLP in February 2025, while Doug Murning and Matthew Worth joined from Ashurst in March 2025 and May 2025, respectively. Jones is well-equipped to advise clients on sophisticated structures, while Murning is highly reputed for NAV and portfolio financings, predominantly for investment banks and credit funds. George Pelling is a trusted advisor on cross-border secondaries NAV financings.

Fried, Frank, Harris, Shriver & Jacobson LLP‘s enviable client roster, which includes high-profile asset managers and the private credit arms of the largest international private equity firms, relies on the firm for advice on particularly sophisticated transactions. The team is well-versed in sublines and NAV facilities as well as more innovative deal structures, for example, using securitisation techniques in financing arrangements and ESG-linked deals. Kathryn Cecil is a prominent figure in the industry, regularly acting on both cross-border and domestic subscription, asset-backed, and NAV financings. Jons Lehmann is an expert at advising on the full range of products and facility documentation at different levels of the capital structure. Graham Greenwood plays a key role in subscription and GP liquidity line mandates. Ryan Jenkinson and Andrea Thomas are also recommended.

Reed Smith LLP is well-positioned to advise on syndicated transactions for private equity and private debt fund clients. The team leverages its international network to handle complex multi-jurisdictional matters, including those involving NAV, asset-backed, and hybrid facilities. Leon Stephenson is instructed by banks and non-bank lenders for fund finance transactions with private equity, secondaries, and direct lending funds. Maccailein Campbell has a speciality in assisting where financings use multiple levels of capital structure, and is also active in the financing of energy assets. Linn Mayhew is another name to note, with a focus on traditional fund finance mandates.

Simpson Thacher & Bartlett LLP excels at advising on the full spectrum of fund finance facilities, including secured and unsecured subscription, NAV, and hybrid facilities. The team is also skilled at curating tailored solutions using structured products and preferred equity arrangements. Kate Sinclair is a go-to for complex financings and is praised by one client for her deep knowledge of the ‘crossover between fund and facility structuring’. Katie McMenamin joined the team from Travers Smith LLP in May 2024 and is known for her expertise in highly structured transactions across the PE, debt, and infrastructure asset classes.

A&O Shearman‘s fund finance practice has deep experience acting for borrowers and lenders, from mid and large-cap sponsors and sovereign wealth funds to banks and credit funds. The department is rated for its expertise across subscription line-financing, NAV, and GP facilities. Leadership is split between Greg Brown, Fiona Cumming and Parisa Clovis. Brown is active in advising leading GPs and routinely handles international matters. Cumming is experienced in the full suite of financing products and is intimately familiar with using securitisation techniques on finance facilities. Clovis, who joined from Kirkland & Ellis International LLP in July 2024, has a robust sponsor-side practice, covering a range of financings across all asset classes.

Praised for its ‘depth of experience’, the bench at Goodwin exhibits capabilities across preferred equity structures and subscription line financings. The team’s clientele spans the private equity, real estate, credit fund, and infrastructure sectors. Ed Saunders oversees the team and is trusted by managers, GPs and banks on a variety of fund finance products. Simon Fulbrook is another name of note.

Macfarlanes LLP‘s fund finance offering caters to alternative asset managers, private equity firms and credit funds. The team has capabilities across NAV, ABL, and GP support facilities, with an increasing number of cross-border instructions. Practice head Andrew Perkins maintains a strong reputation in the direct lending space and is a first port of call for the firm’s credit fund clients. Richard Fletcher‘s workload consists of advising on an array of structures, from subscription lines to GP facilities. Adam Caines is also active across a breadth of products in the mid-market.

Travers Smith LLP‘s fund finance team has a longstanding reputation for its impressive lender-side practice, acting for several major financial institutions. Led by Danny Peel, the team is well known for its ‘excellent technical know-how’. Peel is reputed for his capabilities across subscription, co-investment, NAV, and hybrid facilities. Charles Bischoff is recognised for handling traditional subscription line facilities for major lenders. Laura Smith, who was promoted to partner in July 2024, advises sponsors on the full suite of fund finance products, including NAV and co-investment facilities.

Dechert LLP has a nascent sponsor-focused fund finance practice. Borrowers rely on the practice for advice on a range of finance products, from subscription facilities to hybrid and NAV facilities. Anthony Lombardi acts for the full breadth of funds, including private equity funds, hedge funds and real estate funds, on secured lending facilities.

Building on its robust US presence, Haynes and Boone CDG, LLP’s London office has a strong focus on advising lenders, including non-bank lenders and insurance companies. Drawing on her transatlantic expertise, Emily Fuller regularly handles multijurisdictional deals, with a focus on subscription line facilities. Ellen McGinnis distinguishes herself for her expertise in advising both fund borrowers and lenders in delivering cross-border fund financing solutions. Jennifer Passagne's fund finance practice covers NAV facilities, hybrid facilities, and GP support lines. Emma Russell departed in December 2024.

Latham & Watkins‘ practice is adept at advising banks on the structuring of capital call facilities using securitisation techniques. The team is led by Jeremiah Wagner, who is well-equipped to advise banks on NAV facilities provided to credit funds. Daniel Marcus, who was promoted to counsel in January 2025, draws on his structured finance expertise to assist with fund finance matters.

Linklaters LLP maintains a track record for advising investment banks and funds on traditional and more bespoke financing products. The team is proficient in assisting on subscription line facilities as well as NAV facilities. Co-heads Oliver Edwards and Ian Callaghan spearhead the practice. Edwards is adept at multijurisdictional transactions, while Callaghan has capabilities across an array of fund financing products.

Proskauer Rose LLP is adept at creating liquidity solutions at all levels of the capital structure. The team is well-equipped to handle subscription, NAV, hybrid, GP management and co-investment facilities. Paul Tannenbaum leads the team and regularly advises on traditional subscription lines. Cameron Roper departed the team in May 2025.