Structuring Credit Facilities for Private Equity Funds: Subscription, NAV, and Hybrid Loans

Mr. Sysel represents sponsors, borrowers, arrangers and lenders on a wide variety of financing transactions primarily in connection with fund formation, as well as leveraged acquisitions, spinoffs, recapitalizations and restructurings, across a broad range of industries. He has extensive experience in structuring, negotiating, documenting and executing complex financings, including syndicated senior facilities, mezzanine facilities and private debt placements. Mr. Sysel's work includes unsecured and secured first and second lien facilities, both cash flow-based and asset-based, with particular focus on fund subscription facilities and other types of investment fund leverage.

Mr. Martinez’ primary focus is in representing lenders and some borrowers in secured transactions at all stages of the deal, from negotiating term sheets to booking loans to various forms of workouts including preparing for structured bankruptcies. He routinely represents clients in syndicated commodities finance transactions, other traditional asset based loans, and other loans with unique collateral issues like media loans and subscription lines for funds. Mr. Martinez also has extensive experience in complex commodities swap and hedging intercreditor issues faced by senior lenders and cross-border transactions with an emphasis on Latin America, having represented clients in both multi-jurisdictional loan and merger transactions.

Ms. Go represents asset managers and their investment funds in a broad spectrum of fund-level leverage transactions for private equity, senior credit, mezzanine credit, special situations, real estate, infrastructure and other strategies. She has particular expertise advising funds with complex tax and regulatory structures on financings collateralized or supported by underlying fund investments. Ms. Go also has extensive experience in subscription-based facilities, hybrid facilities and in other types of investment fund leverage. She regularly speaks on fund finance topics and actively contributes to industry conferences and panel discussions hosted by the, American Bar Association, Fund Finance Association, and others. Ms. Go currently serves as the Vice-Chair for the Fund Finance Subcommittee of the American Bar Association.

Ms. Smith represents borrowers and lenders in a variety of commercial and corporate finance transactions, including asset-based and cash-flow facilities, acquisition and leveraged finance facilities, working capital facilities, syndicated credit facilities, debtor-in-possession facilities, and subordinated debt facilities. She serves on the firm’s Board Advisory Committee.