Freshfields advises ADIA on its investment in a new CRC managed fund focused on SRT transactions and on its acquisition of a participation interest in CRC

Global law firm Freshfields is advising a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) on the creation of a new fund to be managed by Christofferson Robb & Company (CRC), a leading New York- and London-based private credit manager. The fund will invest in Significant Risk Transfer (SRT) transactions and other growth strategies managed by CRC. As part of the transaction, ADIA will also acquire a participation interest in CRC.

Founded in 2002, CRC invests in bank capital strategies, mainly SRT transactions, that deliver non-dilutive capital solutions to European banks. According to CRC's calculations, as of 31 December 2025, CRC funds provided credit protection to 1.2% of performing corporate bank loans in the European Union. Since 2016, CRC has also managed a liquid fund that invests and trades in bank capital securities.

The core Freshfields team comprised partner Tom Lawless, counsel James Visick, senior associate Max Chapman, associates Toby McAuliffe and Lara Robertson and trainee associate Hazel Ling, all based in our Abu Dhabi office, with support from associate Sophie Lacaille (London). Tax advice was led by partner Joe Soltis and senior associate Josh Critchlow, from our New York office, with support from partner Peter Clements (London). U.S. funds regulatory advice was provided by counsel David Nicolardi and associate Zade Mutwalli (Washington D.C. and New York, respectively). Employment advice was provided by counsel Jordan Salzman and associate Juan Pastor (both New York). Dispute resolution advice was provided by counsel Liz Curran and senior associate Steven Fisher (both New York).