In her IFLR feature, Fund Finance Practice Group Co‑Head Deborah Low reflects on the shifting fund finance landscape and the career moments that shaped her path. She also offers candid advice for junior women lawyers navigating the industry.
Read an excerpt below.
Looking back on your career, which experiences or decisions most shaped your path to becoming a partner and now co-chair of your practice?
I’ve been fortunate throughout my career to have learned from fantastic leaders and mentors who have shown me how best to work collaboratively with our team.
…
I think that [the] desire to find a way to make the team experience as positive as possible is what first set me on the path to leadership. It’s also apparent that it makes a difference to clients to work with a pleasant, cohesive and well-functioning team – and it’s on leadership to ensure that all team members can contribute in a positive and meaningful way.
You regularly advise on subscription-secured credit facilities and other leverage solutions for PE funds, including net-asset and hybrid facilities. How are these structures evolving, and what are clients increasingly looking for in this space?
Fund finance transactions are constantly evolving to meet borrower and lender needs – and now more than ever, borrowers are seeking flexibility in terms of loan structure.
Net-asset-value facilities have always been a bespoke product and can vary significantly based on the profile of the borrower and factors such as the composition of its asset portfolio, vintage and sector.
Meanwhile, we are also seeing more customisation in the subscription line market to help funds better accommodate the needs of their investors. This can include structuring transactions for rated note feeders, continuation vehicles, evergreen funds or separately managed accounts, to name a few.
How would you describe your journey in your practice?
I’m fortunate to have a lot of perspective on the legal market, developed from graduating law school during the recession and evolving my practice from asset-based lending to more fund finance-focused because of changing market conditions.
I think it’s important for attorneys to be able to adapt and understand how their skillsets can be useful in a variety of ways instead of staying too niche in their practice. In that vein, one piece of advice I give young attorneys is to be on the lookout for opportunities to make connections and add value.
What guidance would you offer to junior women lawyers who aspire to leadership roles in big law?
One piece of guidance I frequently give to young attorneys is to trust their instincts.
At the beginning of your career, the work can seem very complex and daunting, and there can be a tendency for junior attorneys to try to hide behind more senior team members. In reality, the more successful junior attorneys are the ones that push themselves to contribute to the team as much as possible and find ways to provide value.
Read the full IFLR article here.
Read an excerpt below.
Looking back on your career, which experiences or decisions most shaped your path to becoming a partner and now co-chair of your practice?
I’ve been fortunate throughout my career to have learned from fantastic leaders and mentors who have shown me how best to work collaboratively with our team.
…
I think that [the] desire to find a way to make the team experience as positive as possible is what first set me on the path to leadership. It’s also apparent that it makes a difference to clients to work with a pleasant, cohesive and well-functioning team – and it’s on leadership to ensure that all team members can contribute in a positive and meaningful way.
You regularly advise on subscription-secured credit facilities and other leverage solutions for PE funds, including net-asset and hybrid facilities. How are these structures evolving, and what are clients increasingly looking for in this space?
Fund finance transactions are constantly evolving to meet borrower and lender needs – and now more than ever, borrowers are seeking flexibility in terms of loan structure.
Net-asset-value facilities have always been a bespoke product and can vary significantly based on the profile of the borrower and factors such as the composition of its asset portfolio, vintage and sector.
Meanwhile, we are also seeing more customisation in the subscription line market to help funds better accommodate the needs of their investors. This can include structuring transactions for rated note feeders, continuation vehicles, evergreen funds or separately managed accounts, to name a few.
How would you describe your journey in your practice?
I’m fortunate to have a lot of perspective on the legal market, developed from graduating law school during the recession and evolving my practice from asset-based lending to more fund finance-focused because of changing market conditions.
I think it’s important for attorneys to be able to adapt and understand how their skillsets can be useful in a variety of ways instead of staying too niche in their practice. In that vein, one piece of advice I give young attorneys is to be on the lookout for opportunities to make connections and add value.
What guidance would you offer to junior women lawyers who aspire to leadership roles in big law?
One piece of guidance I frequently give to young attorneys is to trust their instincts.
At the beginning of your career, the work can seem very complex and daunting, and there can be a tendency for junior attorneys to try to hide behind more senior team members. In reality, the more successful junior attorneys are the ones that push themselves to contribute to the team as much as possible and find ways to provide value.
Read the full IFLR article here.
