Fergus is a partner in White & Case's Debt Finance team in London, and one of the market’s leading specialists in private credit. Fergus has worked in leveraged finance for over 15 years and specifically in the private credit space since the global financial crisis. He has been at the forefront of legal developments in the asset class for almost a decade, and advises sophisticated international private credit funds and a range of alternative capital providers investing across the capital structure in both performing and stressed or distressed situations. His clients include Apollo, Bridgepoint Credit, GIC, Guggenheim, HPS, KKR Credit and Park Square Capital.
Fergus has specialist knowledge that includes all forms of acquisition financing, rescue financing, restructurings, liability management solutions and complex cross-border special situations lending. He operates across both the large-cap and mid-market and leverages deep knowledge of the syndicated bank lending market and private credit markets to find creative and commercial solutions for clients in any part of the capital structure. He has a particular focus on junior capital investment, including private high-yield and preferred equity financings, and is widely recognised in the market as one of the leading holdco financing experts, having advised on multiple holdco PIK and complex back leverage transactions over the past decade.
Fergus also works very closely with the firm's Financial Restructuring and Insolvency team on the covenant and structuring analysis of stressed and distressed credits, and on the financing aspects of liquidity solutions, liability management exercises and full work-out situations.
Fergus is regularly asked to contribute commentary to financial and legal publications including the International Financial Law Review, as well as the financial press. Described by Chambers UK as "very technical" and "knowledgeable and clear" (2021) and "commercially astute" (2020), he is also noted by Legal 500 (2021) as a "key lawyer" in the firm's acquisition finance team.
Examples of his experience include advising:
- A private credit fund as unitranche lender in connection with a USD$295 million term and revolving unitranche refinancing facility for Bridgepoint portfolio company, HKA.
- A lender of record in connection with the restructuring of DTEK Energy B.V. and DTEK Finance PLC by way of interconditional schemes of arrangement.
- Bridgepoint Credit in connection with a back-leveraged investment in a European web-hosting business.
- A private credit fund in connection with an SEK 2.3 billion unitranche facility for a Swedish private education business.
- Centrebridge Partners in connection with a £400 million refinancing and upsizing of existing credit facilities of the Odeon Cinemas Group.
- Park Square Capital in connection with the HoldCo PIK financing backing Cinven’s acquisition of Barentz, a global speciality ingredients distributor.
- HPS Investment Partners in connection with the financing of outsourced wealth management software business, FNZ Group.
- Multiple private credit funds on super-senior term loan liquidity financings and basket-fill exercises.
- Park Square Capital on the holdco PIK refinancing of Evoca S.p.A. for Lonestar Funds.
- Goldman Sachs (through its funds) in connection with a number of private holdco acquisition financings.
- Hayfin Capital Management and EQT Credit on the unitranche refinancing of FE Fund Info for HgCapital.
- Carlyle Credit Opportunities funds on the private placement of the Unifruitti Group's refinancing notes.
- EQT Credit as unitranche provider in connection with the acquisition of Sykes Cottages group by Vitruvian.
- Ardian Private Debt & Rothschild Five Arrows as holdco PIK lenders in connection with the refinancing of UK insurance business, A-Plan.
- HPS Investment Partners as holdco PIK lender in connection with the acquisition of Danish metering business, Combell.
- Park Square Capital as holdco PIK Lender in connection with the refinancing of UK software group, Access Group.
- EQT Credit as unitranche lender to Veritas Petroleum Services, owned by IK Partners.
Chambers UK – Band 5 (2021)