Cadwalader elevates four on fund finance team to partner

Cadwalader, Wickersham & Taft has promoted four of its fund finance attorneys to partner, effective at the start of the new year.

The law firm’s changes are part of a broader year-end series of promotions; it said that nine were promoted to partner and eight were promoted to special counsel and counsel.

Two of the designated partners, Patrick Calves and Leah Edelboim, are based out of New York. The others, Danyeale Chung and Mathan Navaratnam, are based out of Charlotte and London, respectively.

Chung, Cadwalader said, “represents some of the largest and most prominent lenders in the fund finance industry”, with her work ranging from negotiating to syndicating subscription lines. She has represented her clients “often across from top-tier sponsors,” the law firm noted, and has represented lenders for sub lines “ranging in size from $35 million to $6 billion in terms of lender commitments”.

Edelboim advises financial institutions on instruments such as sub lines, NAV facilities, hybrid facilities and asset-backed facilities, Cadwalader said. She has advised clients in investment areas including private equity, debt funds, natural resources and real estate. Additionally, Edelboim has represented both lenders and sponsor borrowers.

Calves advises clients on instruments including NAV facilities, sub lines, hybrid facilities, liquidity lines and term loans. He works on “non-standard collateral”, the law firm added, such as private equity fund interests and capital contribution requirements. Additionally, Calves advises “buy-side” market participants along with financial institutions.

Navaratnam has represented fund managers and lenders on instruments including sub lines, NAV facilities, GP-led financings and family office leverage facilities. The law firm also noted that he “has advised on some of the largest European fund finance transactions to date”.

In March, affiliate title Private Funds CFO reported that Cadwalader partner and industry veteran Mike Mascia left to start a venture with former Wells Fargo fund finance executive Jeff Johnston. Both are figureheads in the fund finance industry, and board members of the Fund Finance Association.

Wes Misson now heads up US fund finance at the law firm, acting also as co-chair of the group along with Samantha Hutchinson.