Structured Fund Finance

Akin advises sponsors, investors, lenders and intermediaries on structured fund finance products and related insurance solutions across the private funds landscape. Our cross-disciplinary structured fund finance team advises on Collateralized Fund Obligations (CFOs), Rated Note Feeders (RNFs) and other structured and rated financing solutions tailored to the needs of private funds, asset managers, non-bank lenders and other market participants seeking flexible, scalable capital, as well as insurers and other investors seeking capital-efficient exposure to private fund vehicles.

CFOs, RNFs and similar structures reflect the growing convergence of private capital, structured finance and insurance-driven demand. They can offer an alternative to portfolio secondary sales by providing longer-term, capital-efficient financing and broader access to insurers and other investors. These solutions can be tailored to support exposure across private equity, private credit, infrastructure, real estate and other private market asset classes, and may offer meaningful capital efficiency and performance benefits for regulated investors.

Akin’s team, comprised of structured finance, fund finance and private funds lawyers, brings an integrated perspective to these products, drawing on the combined strengths of the firm’s investment management, fund finance and structured finance practices. Because these solutions sit at the convergence of these, we bring a multidimensional perspective on structuring, financing and execution. Our teams work seamlessly across disciplines to deliver commercially focused advice that responds to evolving market practice, investor expectations and regulatory considerations.

Our Capabilities

Our capabilities include Collateralized Fund Obligations, Rated Note Feeders, NAV and hybrid facilities, rated fund and feeder structures, and other solutions designed to provide rated or asset-backed access to private credit and adjacent private market strategies.