About
Mandeep advises private capital funds, alternative asset managers, financial institutions and corporates across the full spectrum of credit opportunities and debt finance — with particular strength in asset-backed credit, structured finance and securitisation, alongside corporate and acquisition finance.
Asset-backed credit is one of the fastest-growing frontier of the private credit market. As businesses move from capital-heavy to capital-light models, specialty lenders and credit funds are stepping in to finance the real economy — residential and consumer portfolios, commercial real estate, trade and receivables, forward-flow origination platforms, and esoteric assets from inventory to infrastructure — and, where the structure supports it, to release that value through rated capital markets structures. The strategy is comparatively recent; the structuring techniques it relies on are not. Mandeep has worked in structured finance and securitisation for almost 25 years. He combines asset-backed credit strategy with the structured finance technology that delivers it, and pairs both with deep corporate and acquisition finance experience — so he is instructed not as a single-product specialist but as a lead adviser who can design and execute across an entire strategy as well as a specific credit opportunity. Clients describe him as a "transaction architect."
His practice is genuinely cross-border, with deep experience across the UK, the Netherlands, Italy, Spain, Greece and Cyprus, and further afield including the UAE. Mandeep began his career in Freshfields' London office and has been...
-
A global alternative asset manager and its portfolio company on the disposal of a portfolio of UK PPP infrastructure-backed loans, hedging positions and business roles to a UK diversified insurer.
- A global semiconductor architect and supplier on several multi-million dollar cross-border financing arrangements provided by a range of global financial institutions.
-
A global asset management firm on the acquisition and financing of a c. gbp 800m UK unsecured consumer loan portfolio from a leading UK lender. The transaction involved a leading US global financial institution acting as arranger and a syndicate of global investment banks providing the acquisition financing
-
A syndicate of global alternative asset managers on the c. eur 4bn disposal and secured financing of several buy-to-let mortgage loan portfolios, a series of publicly-rated asset-backed securities and sale of other fixed income assets, to a US based global fixed income investment manager. This included advising the seller, on a multi-billion euro forward sale, purchase and financing arrangements, and as loan servicer, several publicly rated asset-backed securitisations issued under Rule 144a
-
Klar Partners on the financing packaging support its investment in hallo, a leading European SME-focussed IT servicer provider, specifically unitranche acquisition financing facilities provided by Ares and Berenberg supported by a pan-European collateral package
-
Alantra and Barclays financing of a c. eur 2bn portfolio composed mainly of residential non-performing exposures acquired by Oxalis from the National Bank of Cyprus, a fund managed by one of the largest fixed income asset managers PIMCO (Project Hera). The transaction was the first rated NPL public securitisation executed in Cyprus
- Morgan Stanley on the publicly rated refinancing of securitisation of a portfolio of Cypriot NPL portfolios originated by the National Bank of Cyprus (Project Helix 2) acquired by a global fixed income asset manager
- Barclays on the refinancing of two Cypriot NPL portfolios originated by the National Bank of Cyprus (Project Helix 2) and Hellenic Bank, Cyprus (Project Starlight) acquired by a global fixed income asset manager
- A global alternative asset manager in relation to a Greek NPL securitisation to support the acquisition by a syndicate of global asset managers of a portfolio of Greek non-performing secured SME loans from the National Bank of Greece (Project Symbol)
-
RNHB B.V. on its acquisition of a commercial real estate loan portfolio purchased from a fund managed by Syntrus Achmea Real Estate & Finance (Project Trident). RNHB is a speciality commercial real estate lender based in the Netherlands and is owned by a consortium of global alternative asset managers. This included advising on the auction, fund and asset acquisition, equity structuring, several financings made available by multiple groups of leading international lenders to fund the acquisition, and all regulatory aspects
-
WorldRemit, a global digital payment transfers group, in several cross-border acquisition financing arrangements to support its acquisition of US based, SendWave International Remittance, another international digital payments provider, with a presence in the US, UK and Africa. The project involved the venture and growth divisions of the US West Coast based credit funds as well as a UK based technology speciality lender
-
A global asset manager on the acquisition, servicing and cross-border financing arrangements, including, private and publicly rated capital markets securitisation, in relation to a several portfolios of Spanish reperforming mortgage loans acquired from Spanish financial institutions
-
RNHB B.V. on its acquisition of a commercial real estate loan portfolio purchased from FGH Bank NV, a real estate bank specialising in commercial real estate financing (Project Purple). This included advising on the auction, corporate acquisition, equity structuring, financing made available by leading international lenders to fund the acquisition. He also advised RNHB on a several refinancings of the acquisition debt, including, a capital markets transaction involving the issuance of publicly listed and rated asset-backed securities
-
A leading alternative investment fund on the acquisition financing of a portfolio of Spanish distressed real estate assets purchased from a Spanish financial institution
-
RNHB on the acquisition of a Dutch commercial real estate portfolio from Propertize, a portfolio company of Lonestar, and related acquisition financing under facilities made available by HSBC (Project Dome).
-
Goldman Sachs on their multi-jurisdictional leveraged buy-out of the pan-European bakery group, Continental Bakeries, from NPM Capital and subsequent debt repricing
-
Endemol Shine Group, a leading scripted and non-scripted production company owned by Apollo and 21st Century Fox, on several of its multi-jurisdictional financings, including, its leveraged financing facilities provided by an international syndicate and the monetisation of various media related revenues
-
Commerzbank and Bank of Ireland on underwritten TLB leveraged financing to support the acquisition of the Vermaat Group by Partners Group and subsequent refinancing and debt-repricing
-
Channel Capital, as arranger, and several non-European banks on a multi-jurisdictional (including, Armenia, PRC, Hong Kong, India and the UAE) trade receivables and inventory securitisation for Rosy Blue, a leading producer of diamonds
-
Deutsche Bank, Rabobank, ABN AMRO on the refinancing of unitranche facilities supporting a leveraged financing of the acquisition of the SK Fire Safety Group by Apax Partners
-
Goldman Sachs on the establishment and financing of a c. eur 2bn, Dutch residential mortgage loan forward flow origination platform by Dynamic Credit (Elan)
-
The Royal Bank of Scotland on the financing of the acquisition by an equity consortium (led by Venn Partners, together with Siem Capital and KKR) of the Dutch residential mortgage origination business of GE Bank Artesia. Advised on a subsequent rated and listed capital markets refinancing of the initial acquisition debt, and establishment of additional forward flow origination funding platform
-
Morgan Stanley on the acquisition, financing, sale and capital markets refinancing of several portfolios of Dutch non-conforming residential mortgage loans.
-
JPMorgan on several Dutch RMBS transactions including regulatory capital relief transactions
-
AEX listed Dutch insurer, NN Group (NN) on various financing arrangements of its c. eur 2.5bn public takeover of the Benelux listed financial institution, Delta Lloyd. This included (a) advising NN on acquisition finance facilities arranged by ING, Citibank, JP Morgan and Morgan Stanley (b) advising NN on the issue of debt under their corporate debt issuance programme arranged by JP Morgan (c) advising NN on the restructuring of their corporate facilities arranged by several global financial institutions, in each case, to support the takeover of Delta Lloyd, on a certain funds basis
Mandeep Lotay
Strawinskylaan 10
P.O. Box 75299
Amsterdam 1077 XZ
100 Bishopsgate
London EC2P 2SR