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January 31, 2022
Cadwalader, Wickersham & Taft today announced that Michael Hubbard has joined the firm’s market-leading fund finance team in London.
Hubbard joins Cadwalader from Lloyds Bank, where he was a director in the Loan Markets team focusing on origination and distribution of fund finance products, and brings 17 years of experience in the industry. Hubbard has been responsible for originating, structuring and syndicating some of the largest fund financings in the European industry, including capital call facilities, GP financings and NAV facilities across all asset classes.
Samantha Hutchinson, Head of UK Fund Finance at Cadwalader, said: “The European fund finance market has evolved very rapidly over the last few years both in terms of products and providers. Many of our fund manager clients are reliant heavily upon us to not only lead them through individual deal processes, but to be a partner from the inception of the fund to guide through formation document issues through to after-care service once the deal has closed. Mike’s experience and reputation in the market is unmatched and allows us to provide a full-service model to our GP clients seamlessly through one service provider.”
Added Michael Mascia, co-chair of Cadwalader’s transatlantic Finance Group: “What Sam Hutchinson and our Fund Finance team in London are accomplishing is sensational. We are seeing fund managers engaging them on innovative transactions every day. Mike will be a terrific addition to our UK structuring and transaction management capabilities.”
Cadwalader’s market-leading London fund finance team experienced another high-growth year in 2021.
“GPs have access to an increasing range of structures and liquidity across the bank and institutional debt markets,” Hubbard said. “Navigating these can, however, be relativity complex and cumbersome, with the loan markets for this particular asset class remaining embryonic. This new full-service model will combine Cadwalader’s legal expertise and leading market position, with my experience of structuring and syndicating fund finance facilities, creating a unique proposition to GPs across all platforms and asset classes.”
Cadwalader’s transatlantic fund finance team regularly represent the agent, lead arrangers and lenders on subscription credit, capital call and other fund finance facilities for private equity, real estate and other investment funds of all sizes and vintages sponsored by many of the world’s preeminent fund sponsors. In the last two years alone, the team has advised clients on the origination of more than 250 fund finance facilities covering aggregate lender commitments in excess of $90 billion.