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 and joins from Mayer Brown.
“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 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.
Source: www.proskauer.com
