Fund Finance
Lowenstein Sandler’s Fund Finance practice group partners with private equity firms, hedge funds, credit funds, and alternative asset managers to structure and execute fund-level financing across all stages of a fund’s lifecycle—from first close through portfolio maturity. Representing fund managers primarily on the borrower side, we advise on subscription credit facilities, NAV and hybrid facilities, GP-level and co-investment financings, asset-based loan facilities, and management company lines of credit, bringing disciplined execution and commercial judgment to every mandate.
Our approach is rooted in a simple premise: form your fund and finance your fund. Many of our fund manager clients come to Lowenstein first to structure their funds, negotiate investor terms, and close transactions—and stay for fund-level financing as their strategies evolve and their capital needs grow. This continuity means we already understand the fund documents, the LP base, and the portfolio before we begin structuring a facility. When matters require investment management expertise, our fund finance team works in close coordination with Lowenstein’s Investment Management group, ensuring clients receive integrated advice across the capital structure.
Our services include structuring and negotiating:
- Subscription credit facilities, including co-mingled, single-investor, and umbrella structures
- NAV facilities, hybrid NAV/subscription structures, and asset-based loan facilities
- GP-level financings, co-investment facilities, and partner loan programs
- Management company lines of credit and management liquidity lines
- Specialty financing arrangements, including facilities secured by non-traditional and digital assets
The Fund Finance practice group coordinates across Lowenstein’s private equity, M&A, debt finance, and tax practices to align financing structures with fund formation documents, investor negotiations, and long-term capital strategy.
This practice is led by attorneys with deep experience in debt finance, private equity, and investment management—enabling credible, commercially oriented counsel to fund managers ranging from first-time sponsors raising their initial institutional fund to multi-billion dollar managers with complex, multi-lender capital structures. Our deal experience spans $50 million to over $300 million in facility size, with particular depth in the middle market, where our integrated platform and partner-level attention are most differentiated.
