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Fiona Cumming

Partner

Fiona is Private Capital Sector Lead. She advises funds and their lenders on the full suite of fund finance products including subscription line facilities, single asset and portfolio NAV facilities, hybrid facilities and GP and manco financings and derivative financing solutions including back leverage facilities. 

She also has deep debt finance experience in leveraged and event driven acquisition financings, real estate financings, special situations and hybrid instruments.

Fiona works with major international clients across all private capital assets classes and multiple jurisdictions, with particular expertise in APAC having spent 13 years in Asia where she established the fund finance practice in APAC and since then, together with her colleagues across Hong Kong, Singapore and Sydney, advised on some of the largest and most innovative fund finance transactions in the market. Relocating to London in 2021, Fiona has continued to build our find finance practice as Global co-head and a member of the Private Capital SteerCo. 
 


Experience

Representative matters

A global financial institution as lender on a NAV facility providing back leverage for an investment by a global alternative investment manager in a rated feeder fund managed by a global private markets firm. 

A European private equity fund in respect of a CAD200m NAV facility secured on a portfolio of limited partnership interests.

A real estate fund of a global financial institution in respect of a EUR200 million NAV facility secured on a portfolio of limited partnership interests. 

The lenders on a EUR250m NAV facility provided to a European private equity fund investing in secured middle-market healthcare, education, data & software and technology companies. 

The lenders in respect of a single asset NAV facility provided to an investment vehicle established by a private equity firm. 

 

Leadership Positions And Professional Affiliations

  • Fiona is a member of the board for Women in Fund Finance (WFF) Europe, having previously been the co-chair of WFF Asia-Pacific
  • The Law Society, England and Wales
  • Gender Diversity Lawyer of the Year, Chambers & Partners APAC 2020

Qualifications

Admissions

Admitted as solicitor, England and Wales, 2005

Admitted as solicitor, Hong Kong, 2010

Academic

LLB, Law, University of Bristol, 2001

Diploma, Legal Practice, Nottingham Trent University, 2002

Languages

English
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.