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Credit Funds

We assist credit funds at all stages of their life cycle, and provide a complete range of services from fundraising onwards.

  • We have developed a significant credit fund practice for managers whose credit strategies and target returns vary significantly.　
  • The products we have been involved with range from direct lending, through to mezzanine funds, special situation funds, high yield products and other more liquid strategies.
  • We have advised on a variety of different fund structures in this context, including open-ended vehicles, closed-ended vehicles and hybrid arrangements which offer limited liquidity.
  • Our tax group, who work hand-in-hand with our investment management group, not only designs the most appropriate structure from a legal, tax and regulatory perspective but will also implement that structure.

 

Recent work

Signal Capital Partners

Advising Signal Capital Partners on the fundraising of its €900m Signal Alpha II Fund.

Hayfin Capital Management LLP

Advising Hayfin Capital Management LLP on its special opportunities strategy, which attracted total commitments of €2.2bn and on its European direct lending strategy, gathering €3.5bn.

Alcentra

Advising Alcentra on the successful fundraising of its latest European direct lending fund which has closed at €5.5bn.

Muzinich & Co

Advising Muzinich & Co in relation to various current European-focused credit funds, including its pan-European private debt fund.

Cross Ocean Partners

Advising Cross Ocean Partners on its second European Special Situations fund and managed account.

Warwick

Advising Warwick on the fundraising of their second European-focused special opportunities credit fund and advising on the restructuring of their first fund of the same specification.

Alchemy

Advising Alchemy on the raising of all four of its special opportunities funds.

See all
See all contacts

Stephen Ross

 Partner
+44 (0)20 7849 2305 Email Stephen

Damien Crossley

 Partner
+44 (0)20 7849 2728 Email Damien

Andrew Perkins

 Partner
+44 (0)20 7849 2725 Email Andrew

Quick reads

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In depth

Coming soon: a new EU regulatory regime for loan origination funds

Samuel Brooks 02 Nov 2022
The EU is deliberating its reforms to the Alternative Investment Fund Managers Directive, often called “AIFMD 2”. Much of the attention paid to AIFMD 2 has focused on concerns...
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Economic Crime and Corporate Transparency Bill: implications for UK limited partnerships

Stephen Robinson, Christopher Good, Harriet Miller 04 Oct 2022
The UK Government introduced the Economic Crime and Corporate Transparency Bill (the Bill) to Parliament on 22 September.
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Global perspectives on navigating a divergent ESG regulatory landscape

Lora Froud, Tiffany Cox 18 Jul 2022
Fund managers operating across the globe will be facing a complicated patchwork of rules relating to ESG product labelling and disclosures.
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What people are saying

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"The teams have provided exceptional service over the last few years with respect to our two funds and credit facilities to go with them. They are concise and clear in their communications with us which allows the team to trust in the process being undertaken."

The UK Legal 500 2023

"Macfarlanes has supported us with our legal requirements related to fund formation and management for many years and we have always been delighted with the service and support we receive. The team is responsive, knowledgeable and commercial."

The UK Legal 500 2022

"They are genuinely interested in helping their clients succeed."

Chambers UK 2021

Awards