Advised on Credit Opportunities and Legal Assets Funds as well as Capital Formation for Asset-Backed Opportunities Platform
LONDON, July 2, 2025 – Leading international law firm Proskauer today announced that it advised NorthWall Capital (NorthWall), a leading alternative credit manager focused on Western Europe, on successful first closes for the most recent vintages of its flagship Credit Opportunities and Legal Assets funds, alongside continued capital formation for its Asset-Backed Opportunities platform.
These milestones contribute to a significant increase in institutional capital allocated to NorthWall strategies in 2025, with total firm assets under management (AUM) now reaching €2.9 billion, €1.6 billion of which has been raised this year.
NorthWall raised the following amounts across the three strategies Proskauer advised on:
- Credit Opportunities: €731 million raised at first close for the most recent vintage of NorthWall’s flagship opportunistic strategy, surpassing the total size of the predecessor fund.
- Asset-Backed Opportunities: €252 million raised to capitalize on a rapidly growing and increasingly institutionalized market for European asset-backed credit opportunities, particularly in sectors underserved by traditional lenders.
- Legal Assets: $169 million secured across NorthWall’s Legal Assets platform, extending the firm’s leadership in underwriting complex, uncorrelated loans to law firms, in a niche but expanding segment.
Proskauer previously advised on NorthWall’s European Opportunities Fund II, which exceeded its target and doubled in size from the predecessor fund.
The team was led by partner James Oussedik and included partner Frazer Money and associates Lidia Grasu, Joshua Jones, Gawa (Jiahua) Zeng, James May, Dongwei Wu and Saagar Chauhan (Private Funds); partners Jean Bertrand and David Miller (US Tax), and associates Susan Wiener (M&A), David Ward (UK Tax) and special ESG counsel Rachel Lowe (Regulatory).
About Proskauer
The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. With 800+ lawyers in key financial centers around the world, we are known for our pragmatic and commercial approach. Proskauer is the place to turn when a matter is complex, innovative and game-changing. We work seamlessly across practices, industries and jurisdictions with asset managers, private equity and venture capital firms, Fortune 500 and FTSE companies, major sports leagues, entertainment industry legends and other industry-redefining companies.
Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising investment funds, including private equity, venture, credit, hedge, real assets and secondaries funds as well as other asset managers, financial institutions and institutional investors. The cross-border team of over 250 lawyers is based in the U.S., UK, Paris and Latin America and includes specialists in fund formation, secondaries transactions and liquidity solutions, tax, ERISA, regulation, financial services, capital markets, M&A, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.
About NorthWall Capital
NorthWall Capital is a London based alternative credit specialist focused on delivering private capital solutions to Western European counterparties. The firm manages circa €3bn of AUM in long dated funds on behalf of global institutional investors, aiming to generate attractive risk-adjusted returns through economic cycles.
