Credit / Special sits (debt fund)

Institutional and alternative lenders have an important function in providing sources of capital and investment in transactions that span the credit spectrum. Within Linklaters, we refer to this group as Alternative Credit Providers (ACPs) and we have a specific group of lawyers who are focusing on the importance of ACPs within the market. We already see and fully anticipate the ACPs’ role in the markets growing significantly over the coming years. Our specialist team advise a wide range of non-bank investors and funds in connection with a variety of transactions, including fund formation, new money financings including direct lending, special situations/distressed/loan-to-own, debt and equity restructurings, secondary loan trading (including non-performing loan portfolio acquisitions) and regulatory issues.

Some examples of our recent credit funds transactions include advising:
  • KKR on its first two direct lending funds, followed by its first fund targeting European loans and its first special situations fund
  • CVC on the raising on its first Luxembourg licensed credit fund
  • a non-UK pension fund on the establishment of a European credit fund
  • Alcentra on the establishment of various credit funds managed by Alcentra Limited as part of their SICAV platform
  • Ardian on Ardian Private Debt Fund III, which provides flexible and tailor-made financing arrangements to companies across Europe
  • an investment bank in relation to the establishment of a semi open-ended credit fund