The Working Guide to Fund Finance Second Edition
The essential stage-by-stage guide to UK, European and offshore fund finance
- Published by: Brickfield
- Contributing Editor: Jeremy Cross
- Second Edition, Nov 2025
- 288 pages
The Working Guide to Fund Finance is the first and only “how to” publication aimed at lenders, lawyers, fund professionals and brokers seeking a comprehensive treatise on the fundamentals of fund finance, focusing on the UK, European and offshore markets.
The Working Guide to Fund Finance Second Edition
The guide covers the key aspects of all widely used types of fund finance in Europe, including subscription finance, NAV and asset finance and hybrid finance as well as GP and manager financing.
Detailed attention is given to the way in which a finance package is put together, the contents of that package and the considerations and steps required to get from first proposal to closing, looking in particular at how lending decisions are made and implemented, as well as the accompanying legal documentation and considerations.
New for 2025-26:
- Core chapters extensively updated and extended, with more detail as well as coverage on several new areas
- Glossary of Fund Finance Terms from the Loan Market Association
- New section on Term Loans in the Subscription Facilities chapter from NLC
- New chapter on Securitisation from Cadwalader
- Glossary of Fund Finance Terms from the Loan Market Association
- New chapter on the state of the EMEA Fund Finance market from the Fund Finance Association
- New country chapter covering Spain
Publication Summary:
- Glossary of Terms
- Introduction & Fund Finance Summary
- A Banker’s Introduction to Fund Finance
- Fund Finance Documents
- Subscription Facilities
- Primary and Secondary NAV Facilities
- GP Financing and Manco Facilities
- Hybrid Facilities
- Term Loans
- Other Fund Financings: Preferred Equity and Asset-Based Lending
- Securitisation and Fund Finance
- An Introduction to Ratings in Fund Finance
- Legal Documentation: Security
- Legal Documentation: Fees
- Closing (Conditions Precedent) and Post-Closing (Conditions Subsequent and Other
- Conditions to Utilisations)
- Legal Risk Management in Fund Financings
- Fund Finance: A Lender’s Perspective
- Fund Finance: A GP’s Perspective
- What Can Go Wrong?
- Cayman Islands
- France
- Guernsey & Jersey
- Ireland
- Luxembourg
- The Netherlands
- Spain
- Fund Finance in EMEA: State of the Market 2025
Featured contributors:
First Edition Launch Party
Last year we held a fantastic launch event in London, where our publishing team and panel of international expert contributors got together with colleagues from the fund finance industry for a fun evening!
Media coverage of The Working Guide to Fund Finance First Edition
Rory Smith and Jeremy Cross, Publisher and Consulting Editor of The Working Guide to Fund Finance, were recently guests on The Line’s podcast with Alice Murray.
The Line article: https://www.the-line.net/2024/book-launch-a-working-guide-to-fund-finance/
The Line podcast: https://www.the-line.net/2024/a-working-guide-to-fund-finance-interview-with-the-authors/
The Drawdown recently featured the Working Guide to Fund Finance, which it calls “a prize for fund finance”.
Read the article here (registration required)
The Drawdown article https://the-drawdown.com/article/the-book-a-prize-for-fund-finance