Fund Finance
Ireland is widely recognised as a leading domicile in which to establish investment funds.
Matheson’s market-leading Fund Finance practice, together with our Asset Management and Investment Funds Department, act for 28% of Irish-domiciled funds by assets under management (source – Monterey Insight Ireland Fund Report 2024).
Our dedicated Fund Finance practice has built up extensive knowledge and experience in acting for leading fund sponsors, investment funds, asset managers, financial institutions, non-bank lenders and fund service providers on a wide variety of fund finance transactions, including subscription (or capital call) facilities, NAV facilities (including hybrid variations), fund margin lending, equity line facilities, GP financings, co-invest facilities, asset backed financings and portfolio level financings.
We assist our clients by guiding them through the issues involved in providing finance to different forms of Irish investment fund entities (regulated and unregulated) including Investment Limited Partners, ICAVs, Limited Partnerships, Unit Trusts, Investment Companies, SPVs (Irish s.110Cos) and CCFs. Our experience covers multiple fund strategies including private equity, private credit, infrastructure and real estate.
Together with our Asset Management and Investment Funds Department, and our structured finance and tax teams, we have extensive knowledge of the key fund documentation, security/guarantee, regulatory and tax issues which may arise in a fund finance transaction involving an Irish investment fund or SPV as a borrower or a feeder.
Experience Highlights
Our experience includes advising:
- Advising an alternative investment manager in relation to a subscription line facility with Sumitomo Mitsui Banking Corporation for a maximum commitment amount of USD 4 billion.
- Advising an investment manager on multiple subscription line and NAV financings for a number of different fund structures with different fund strategies with international banks.
- Acting for an international bank on the provision of a bilateral NAV facility to an Irish ICAV invested in sustainable infrastructure investments.
- Acting for a leading alternative credit fund provider in respect of its subscription facilities involving ICAV borrower and feeder funds.
- Advising a global alternative investment manager in connection with the completion of a secured asset-backed credit facility of up to USD 890 million with Morgan Stanley Asset Funding Inc.
- Acting for a European investment bank on the provision of an asset backed-facility to a global asset manager ’ s flagship European direct lending fund.
- Advising a private equity group in respect of the reorganisation of its investments funds to include ICAVs and investment limited partnerships and related financing arrangements.
- Advising a leading middle-market private equity platform in connection with the implementation of a subscription line facility for a maximum commitment amount of USD 150 million with MUFG Bank, Ltd.
- Acting for a leading US bank in respect of its financing arrangements to Irish funds managed by a global investment manager.
- Advising the asset management arm of a global investment bank in connection with short term liquidity arrangements for a number of its UCITS funds.
