A fresh perspective and the year ahead

The fund finance market is entering a new phase of maturity, defined by a broader product set, more complex capital structures, and increasing interconnectivity across jurisdictions. As the market evolves, distinctions between financing disciplines are becoming less meaningful. We are seeing that clients are no longer seeking advice in silos; they increasingly require integrated insight that reflects the full spectrum of available solutions.

Against this backdrop, our team’s focus is on advancing our Fund Finance offering in line with where the market is heading. Building on our well-established platform, we are expanding across adjacent areas, including structured finance and CLOs, acquisition and real estate finance, and private credit – areas that are increasingly converging with fund finance in practice. At the same time, deeper integration between our US and European teams enables us to bring the perspective of the most developed market to a global client base, enhancing both the consistency and sophistication of our advice.

By continuing to invest in training and enhancing our team, we strengthen our ability to operate at scale and meet the growing complexity of client needs. As a result, clients benefit from more connected, insight-driven advice rooted in market experience and delivered seamlessly across products, geographies, and structures.

We are also evolving how we deliver our work. The integration of AI and technology is enabling more efficient, consistent, and scalable execution, supporting the increasingly complex demands of the market. These developments build on the foundations of a long-established practice, where deep market understanding, trusted relationships, and quality of delivery remain constant. The direction of travel is clear: combining the strength of an established platform with broader capabilities and a more integrated approach, positioning the practice to lead as the market continues to develop.

Leon Stephenson – Chair of the Global Fund Finance Group

LMA Fund Finance Conference 2026

We are proud to sponsor the inaugural LMA Fund Finance Conference, taking place on May 13, 2026 at the De Vere Grand Connaught Rooms in London. Senior members of our London team will be in attendance, and we look forward to meeting you there.

Fund Finance Association European Symposium 2026

We are also delighted to be platinum sponsors of the 10th annual FFA European Symposium, which will be held on June 24, 2026. Our London team will be in attendance, providing an opportunity to connect with clients and other industry participants. A member of our team will be speaking on a panel, and we will share further details in the weeks ahead. As is now tradition, we will host a social gathering immediately following the conference, providing an opportunity to engage with clients and industry peers on a more informal basis. More information will follow shortly.

Innovation Lawyer: Leveraging AI to strengthen our fund finance capability

“My background is advising both lenders and borrowers on fund finance, specialty finance, and general corporate lending transactions, with a primary focus on subscription lines and NAV facilities. More recently, I’ve taken on the role of innovation lawyer at Reed Smith, which sits within the firm’s Applied AI team. My focus now is on working with our transactional practices to redesign transactional workflows with technology at their core.
 
We’ve been using AI-supported tools on fund finance deals for some time, and as the models behind them keep improving, so does what we can do for our clients. For due diligence processes, for example, we’ve built systems that extract deeper insights from fund documentation that are particularly effective at surfacing subtle risks. As a result, we are seeing earlier identification of red flags in the transaction cycle, which gives us more of an opportunity to implement solutions.
 
Our tools have also changed how we approach negotiations. They allow us to access the firm’s institutional fund finance know-how more effectively, meaning clients are better informed and better positioned when it comes to decision-making.
 
Technology is also proving to be particularly useful in relation to quality assurance. We’ve added extra layers of AI-supported quality assurance processes on top of existing checks, which helps improve the consistency and substantive accuracy of deliverables. These processes are especially helpful on more document-heavy transactions with lots of moving parts.   
 
One of the challenges we face is keeping up with the rapidly changing tech landscape. We have a responsibility to stay ahead of these developments as they present quite significant opportunities to improve service delivery.  
 
We are very much looking forward to what comes next.”

David Worby, Innovation Lawyer

New team members 

In the coming weeks, we look forward to sharing exciting team updates that build on our strong foundation, strengthening our platform through continued growth, enhanced experience, and deep industry knowledge.