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January 04, 2021
New Washington, D.C. partner focuses on fund finance and venture debt lending.
Cadwalader, Wickersham & Taft LLP announced today that M. Chadwick “Chad” Stackhouse has joined the firm’s market-leading fund finance practice. He will be resident in the firm’s Washington, D.C. office.
Stackhouse has established a national reputation advising banks and credit providers on secured lending transactions, with an emphasis on fund finance and technology and venture debt lending. Stackhouse has nearly two decades of experience representing major U.S. financial institutions and foreign debt providers in commercial lending transactions. These transactions involve public and private technology companies, venture capital and private equity funds, life science companies, and high net worth individuals.
Stackhouse joins the firm from Troutman Pepper, where he led the firm’s Fund Finance practice and was a member of the Technology and Venture Lending practice section. He is also the former managing partner of Troutman Pepper’s Washington, D.C. and Tysons Corner, Virginia, offices.
“Even during a challenging 2020, Cadwalader’s market-leading finance practice has been able to grow its service to clients and increase its dominant position in this space,” said Cadwalader managing partner Pat Quinn. “Chad has built an outstanding fund finance practice, with a particular emphasis on the venture side, and we see his addition as going from strength to strength.”
Added Michael Mascia, Cadwalader’s Finance Group chair and head of the firm’s Fund Finance practice, “Chad has built an outstanding fund finance practice over the years, and we have worked with him on a number of syndicated deals and know the great lawyer and person he is. He is a great addition to our fund finance team during a time of growth, and his work on venture lending additionally rounds out our product capabilities for our clients. We are thrilled he is joining us.”
Cadwalader’s market-leading transatlantic team regularly represents 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, Cadwalader has advised clients on the origination of more than 250 fund finance facilities covering aggregate lender commitments in excess of $90 billion.
The team brings in-depth technical and commercial knowledge to a wide range of lending structures across the fund finance spectrum, including traditional capital call and subscription credit facilities, NAV-based facilities, hybrid facilities, open-end fund facilities, HNW facilities, aftercare facilities, umbrella facilities, management fee and GP lines, and an array of leveraged asset level, secondary fund and equity commitment transactions.
“Cadwalader’s reputation in the legal and business community is unparalleled, and the firm’s premier fund finance practice is widely recognized as the gold standard and market leader,” Stackhouse said. “I think my venture capital lending experience creates new opportunities for the firm, and Cadwalader’s outstanding all-around capabilities, as well as a market-leading team in London, will be a big bonus to my existing clients. This is a combination that makes great sense from every perspective.”
Stackhouse’s arrival is another significant addition to the firm. A market-leading litigation team from Boies Schiller – led by renowned litigator Nicholas Gravante and including partners Philip Iovieno, Karen Dyer and Lawrence Brandman – is officially joining Cadwalader this week. Gravante, Iovieno, Dyer and Brandman are important additions to a growing Global Litigation Group, which has grown with the recent additions in the past year of former Consumer Financial Protection Bureau senior counsel Rachel Rodman in Washington’s white collar practice; London white collar partners Mark Beardsworth and Kevin Roberts; State Attorneys General Practice head Doug Gansler, the former Maryland Attorney General; and a Boies Schiller civil litigation team comprised of Sean O’Shea, Michael Petrella and Amanda Devereux. Also joining the firm in 2020 were London funds formation partner Michael Newell and London capital markets partner Matthew Duncan.