Barnaby Smith

Expertise

Barnaby is an Associate in the Finance team, specialising in fund finance. He has experience acting for banks and other financial institutions on domestic and cross-border financings involving private investment funds, with a particular focus on subscription line, NAV and hybrid facilities.

Barnaby has worked on a range of high-value and complex fund finance transactions, including capital call facilities exceeding €2 billion, multi-jurisdictional NAV facilities and umbrella financing platforms. His experience spans new facilities, amendments and restatements, refinancings, facility increases, borrower and lender accessions, extensions and the establishment of new sub-facilities.

He drafts and negotiates finance documents and related transaction documentation, including amendment and accession agreements, fee letters, reliance letters, security agreements, security releases and legal opinions. He also has extensive experience managing conditions precedent, execution and closing processes, coordinating counsel across multiple jurisdictions and working directly with lender clients and counterparties to progress transactions to completion. His work has involved structures and assets across jurisdictions including the Cayman Islands, Ireland, Jersey, Guernsey and Mauritius.

Alongside his fund finance practice, Barnaby has experience in structured finance and capital markets. He has worked on CLO and securitisation transactions, derivatives documentation and aviation finance, including the negotiation of ISDA documentation in connection with aircraft financing.

Experience

EUR 2bn capital call facility for an international private capital fund*

Led the documentation and execution of lender accessions and an accordion increase. Conducted investor and fund-document due diligence and coordinated the relevant workstreams to support the expansion of the facility.

USD 350m hybrid facility amendment for a global alternative asset manager*

Led the transaction from commencement to closing, acting as the lender’s day-to-day contact throughout. Drafted the amendment agreement, extension fee letter and legal opinion, coordinated Cayman, Mauritius and Irish counsel, and managed execution within a demanding timetable.

EUR 1.475bn NAV facility for an international investment fund*

Led the conditions precedent and closing workstreams across multiple jurisdictions, acting as the lender’s principal day-to-day contact and coordinating local counsel. Managed outstanding requirements and transaction timelines to bring the financing to completion.

USD 1.5bn umbrella financing platform for a global alternative asset manager*

Led the establishment of a USB 150m sub-facility under the wider platform. Drafted the principal ancillary documentation, including the fee letter and legal opinion, managed the transaction process and advised on subsequent borrower accessions.

GBP 250m NAV facility for a private investment fund*

Managed the conditions precedent process, drafted English-law ancillary documents and prepared detailed due diligence reports on the fund’s limited partnership agreements, supporting the efficient execution and closing of the financing.

*experience gained prior to joining Addleshaw Goddard

Education