As the fund finance industry continues to grow in numbers, it may seem challenging initially for banks and financial institutions outside of this space to jump in with confidence as new lenders.
Nine Cadwalader partners have been selected to the 2026 Lawdragon 500 Leading Lawyers in America, including Co-Managing Partner Wes Misson.
We’re excited to launch our first Fund Finance Friday of 2026 in what promises to be a pivotal year for our clients and the broader fund finance market. Building on the news shared just before the holidays, Hogan Lovells and Cadwalader have announced an intention to combine, creating Hogan Lovells Cadwalader – a firm that will bring together Cadwalader’s longstanding, market-leading fund finance platform with a truly global footprint.
As the Fund Finance Friday library grew in 2025, a few key themes emerged to define the year. First, NAV lending rose to prominence in our coverage, which may not be entirely surprising in a year where fundraising hovered around 2017-2018 levels and private fund AUM surpassed $15.0 trillion.
Cadwalader has elevated 24 lawyers to partner, special counsel and counsel, effective January 1, 2026. On Tuesday, the firm’s Center for Career Advancement celebrated new partners at a partner orientation and a celebratory reception in their honor.
Hogan Lovells and Cadwalader announced yesterday their intention to combine, creating Hogan Lovells Cadwalader.
It feels like yesterday that I worked on closing my first credit facility, sitting almost in the same spot that I am now, albeit now a little higher in the sky (by one floor precisely). If there is one thing that the past few years have taught me, it is that the fund finance industry and its products are ever evolving (see, e.g., recent developments in private credit and tranche B facilities), and of course many (if not all) of these developments are focused on liquidity solutions for borrowers and lenders alike.
Today, it seems only natural as we continue to grow with our clients (and in turn, their clients) that lenders are increasingly seeing a demand for financing solutions for aging funds, including those that may exceed the expiration of their term. In this article, we delve into an overview of structuring considerations for financing end of fund term subscription credit facilities.