Americas | Asia | Europe | Middle East | mayerbrown.com About Our BDC & Direct Lending Practice Mayer Brown’s leading Capital Markets practice, combined with our knowledge of the 1940 Act, the Advisers Act, and tax considerations applicable to BDCs, closed-end funds, tender offer funds and interval funds, makes us a first call for private equity and other sponsors of closed-end funds, as well as for underwriters and advisers to BDCs. For decades, Mayer Brown has been known as a leading firm advising issuers and underwriters on initial public offerings. Given the depth of our capital markets experience, we are a key partner for issuers transitioning to public ownership. With our tax and investment management colleagues, we assist investment advisers, sponsors, management and boards of directors in structuring and forming closed-end funds and BDCs. We help anticipate potential accounting, legal, tax and regulatory issues; plan the BDC’s financing and growth strategy; structure affiliate relationships; adopt the necessary compliance policies and procedures and, for the BDC’s investment adviser, policies designed to comply with the Advisers Act; advise on possible 1940 Act exemptive relief; draft securities offering disclosure; and assist with the BDC’s periodic public reporting obligations following its IPO. Our banking and finance group and our restructuring, bankruptcy & insolvency group also provide support for our BDC clients. Our banking and finance group works with BDCs to negotiate and establish credit facilities. We also have extensive experience structuring and negotiating investments in BDC portfolio companies. This includes first and second lien loans, unitranche and other first out/last out loans, covenant-lite loans, PIK debt, subordinated loans, debtor-in-possession loans, high-yield debt securities, convertible debt, preferred equity, and other mezzanine financings. Our restructuring, bankruptcy & insolvency group advises BDCs and other lenders in connection with distressed investments, including restructurings, out-of-court workouts, foreclosures, and bankruptcy proceedings. To learn more about other fund vehicles, including interval funds, tender offer funds, target date funds—and what makes each of these vehicles distinct—see more in our Permanent Capital Resources center, here. Learn more about Mayer Brown’s BDC practice “ They are extremely responsive, very practical and really able to give you a real-world view of legal issues that can be very technical.” Chambers USA on our work with funds “ Accomplished advisers on the tax aspects of major transactions... advises on the tax aspects of capital markets transactions. Offers notable cross-border experience.” Chambers USA on our corporate & finance tax work “ Mayer Brown is a major name in capital markets with a dynamic mix of domestic and global equity offerings… financial services and business development companies (BDCs) are key sectors for the team.” The Legal 500 US
View this content as a flipbook by clicking here.