Continues Build-Out of Firm’s Fund Finance Capabilities
LONDON, June 15, 2023 – Proskauer, a leading international law firm, is pleased to welcome Paul Tannenbaum as a partner in its Finance Group. He brings over a decade of experience acting for lenders, borrowers and financial institutions on fund financing transactions. He will be based in London.
“Amid challenging market conditions, borrowers are seeking new, alternative lenders and sources of debt capital, and Paul brings a deep knowledge and understanding of the needs and expectations of both borrowers and lenders. His understanding of the changing market is a huge value-add to our entire asset management client base,” said partner Ron Franklin, co-head of the Firm’s Finance Group. “I am excited to begin working with him.”
Paul’s practice encompasses a wide range of transactions, including traditional subscription lines, hybrid facilities, NAV facilities, credit fund asset leverage facilities, GP support facilities, loans to separate accounts and fund of fund financings.
“Paul’s expertise and knowledge of the global funds finance market and his experience representing borrowers and lenders makes him an exciting addition to our team,” said Nigel van Zyl, partner and co-head of the Private Funds Group at Proskauer. “As innovation and growth in the funds finance market continues at a rapid rate, Paul will be a further invaluable resource to our asset management clients across the board.”
Proskauer’s fund finance group represents clients on the full spectrum of fund financing matters ranging from acquisition financings – including secondaries – to GP, management, and co-investment facilities to NAV facilities, CFOs and CLOs. They work closely with the Firm’s market-leading Private Investment Funds practice which has more than 300 GP clients across private equity, credit, venture, real assets, infrastructure and fund-of-funds.
“Asset managers – from private equity and secondary to direct lending – are expanding their strategies and looking for alternative ways to finance deals,” said Paul. “Proskauer’s asset management platform is well-suited to provide both GPs and others with innovative and bespoke financing. I look forward to working with the team to meet clients’ needs on a full range of fund financing matters.”
Paul joins from Mayer Brown. He received his B.A. from the University of Leeds, with Honors, and subsequently attended BPP Law School.
This is the eighth partner that Proskauer has welcomed globally in 2023 and second in London. It is also the second Finance partner to join Proskauer this year. Matthew Kerfoot, also a fund finance specialist, joined the firm in February. The fund finance team also saw growth with the promotion of Cameron Roper to partner in 2022.
About Proskauer
We are 800+ lawyers serving clients from 12 offices located in the leading financial and business centers in the Americas, Europe and Asia. The world’s leading organizations, companies and corporations choose us to be their representatives in their most critical situations. But more, they consider Proskauer a strategic partner to drive their business forward. We work with issuers, underwriters, asset managers, major sports leagues, Fortune 500 companies, venture capital companies, entertainment industry legends and other industry-redefining companies.
With offices in major financial centers in the U.S., Europe, Asia and South America, Proskauer’s Finance team is well-positioned to engage in transactions around the world including acquisition finance, leveraged lending, fund finance, workouts and restructurings, investment-grade and commercial lending, structured products and specialty financings. Its diversity gives us unparalleled market knowledge, and our representation of both lenders and borrowers provides us with the ability to appreciate critical deal points from the perspective of all parties to the transaction.