Anthony Lombardi is a partner in Dechert’s corporate practice, focusing on a diverse range of fund finance and structured finance transactions. Mr. Lombardi has extensive experience acting on NAV-based facilities, collateralized fund obligations, hybrid asset-backed facilities for funds, GP facilities, Co-invest/partner financing facilities, LP NAV facilities, capital call/subscription lines and other secured lending facilities backed by a variety of asset classes and financial products in both European jurisdictions and the U.S.
Mr. Lombardi regularly acts for private equity funds, hedge funds, real estate funds, infrastructure funds, private debt, secondary funds, private banks, family offices and ultra-high-net-worth individuals. He also has extensive experience advising on the purchase and sale of European, U.S. and emerging markets distressed assets, including bank debt and claims, plus swaps, derivatives and repurchase agreements. In addition, he advises on secured-lending facilities utilizing total return swaps and repurchase agreements.
Mr. Lombardi is a member of the Fund Finance Association, EMEA Advisory Council. In this role, he contributes to driving the FFA's longstanding mission of advocating for the fund finance industry in Europe. His efforts include building consensus on legal and regulatory issues and continuing to educate stakeholders in the region through their conferences and events.
Ranked as ‘Leading Partner’ by The Legal 500 UK, 2026, for fund finance, clients describe Mr. Lombardi as “always a delight to have on deals. One of my favourite sponsor-side lawyers”, whilst noting that he is a “a real hard worker who understands and looks to get the best commercial outcome for his clients” and “pleasant to work with and technically very good indeed.” Clients also note that “The Dechert team have a depth of knowledge which has been significantly enhanced by the addition of Anthony Lombardi.” He is referred to as a lawyer who “cares about each client and getting the deal done”, who has a “very innovative and commercial team”, with “great communication”, who are “a pleasure to work with”. Anthony is also ranked in Chambers UK, 2026 for fund finance, clients note that “Anthony is a pleasure to work with on any project. He is very responsive, commercial and drives projects forward.”
Key Matters
- An asset manager with over US$700 billion assets under management private credit funds in respect of various capital call facilities ranging from €100-150 million.
- A multi-strategy asset manager with over US$34 billion in assets under management in multiple NAV facilities of US$750 million.
- An asset manager with over US$20 billion assets under management in the structuring of an up to €1.5 billion NAV facility secured over its underlying portfolio of loans.
- A private credit fund with over US$30 billion assets under management in relation to a £50 million GP Facility.
- A leading U.S. insurer as initial noteholder of a US$100 million collateralized fund obligation issued by a tier one sponsor secured against the underlying performance of the sponsor’s PE and private debt portfolios.
- A private credit fund with over US$300 billion assets under management in respect of its rights as a lender under a circa US$500 million NAV facility.
- An asset manager’s private debt fund with over US$20 billion assets under management in respect of a US$600 million capital call facility.
- An investment vehicle of the two principals of a quant fund with over US$6 billion in assets under management in a NAV facility of circa US$400 million.
- An insurance-linked securities asset manager with over US$4.5 billion in assets under management in multiple NAV facilities of over US$200 million secured over a portfolio of underlying insurance-linked securities and cashflows.
- A Singaporean asset manager with over US$9 billion assets under management and its Cayman Segregated Portfolio Company in a US$20 million leverage facility secured by its interest in, and cashflows from, an underlying CDS.
- An asset manager with over US$450 billion in the acquisition of a multinational distressed and non-performing asset portfolio, including loans, claims, bonds and private equity positions.
Includes matters handled at Dechert or prior to joining the firm.
Fund Finance
- A private equity fund with US$6 billion in assets under management on multiple subscription facilities totaling US$200 million.
- The principal of an asset manager with over US$5 billion in assets under management in structuring a complex, first-of-its-kind multi-layer loan structure of around US$350 million. This included a NAV-based facility of US$250 million for an investment vehicle secured over underlying interests from managed funds and a US$100 million personal loan secured over the principal’s shares in the investment vehicle.
- A fund principal’s investment vehicle on a fund-of-fund facility of US$100 million.
- A global investment bank’s private wealth team on several loans to private equity LPs secured against the LPs' carried interest entitlements and cash flows.
- An asset manager with over US$10 billion in assets under management, in a US$250 million NAV facility to leverage its underlying portfolio of loans and bonds as reference obligations.
- A family office in a fund of funds NAV facility of US$30 million.
- An asset manager with over US$6 billion and its investment vehicles in Guernsey and the Cayman Islands in a margin loan/NAV facility of US$26 million.
- An ultra-high-net-worth individual’s private investment company on a margin loan secured against an underlying basket of liquid equities.
Structured Finance/Structured Products
- An investment manager on purchasing junior notes as part of a repo program.
- A Japanese broker on structuring and issuing repackaged AAA U.S. and European CLOs for Japanese investors who wanted a yen-denominated product, including a euro/dollar/yen cross-currency swap.
- A private fund manager with US$10 billion in assets under management in a US$750 million multi-currency structured TRS facility backed by a portfolio of private credit loans, including loans to sports teams.
- A leading global cell tower owner in an up to £1 billion senior facility, focusing on the acquisition and management of ground, tower, rooftop and in-building cell site ground leases secured against its rental income.
- A leading global cell tower owner in an up to £300 million junior note program.
Debt Trading/Special Situations
- The European subsidiary of a prominent private equity fund with over US$450 billion in assets in a complex bond trading matter, addressing potential equitable subordination issues in Spain and regulatory matters in Luxembourg.
- An asset manager of a distressed credit fund in a complex insolvency claim purchase for underlying swap agreements and early termination amounts.
- Investment Fund Formation and Management: London – Fund Finance ‘Leading Partner’ – The Legal 500 UK, 2026
- Banking & Finance: Fund Finance – Anthony Lombardi is ranked in Band 3 – Chambers UK, 2026
- GP Financing Solutions (Trends and Developments) - Fund Finance Association, 9th Annual European Fund Finance Symposium (2025)
- Fund Finance: assessing the ascendency of NAV in private credit – SuperReturn International, Berlin (2025)
- Ancillary Fund Finance Products – Fund Finance Association, 14th Annual Global Fund Finance Symposium (2025)
- Hot Topics and Trends in Fund Finance – Fund Finance Association, 8th European Fund Finance Symposium (2024)
- Secondary Training Day – Loan Market Association, London (2017-2019)
- Law firms ride the wave of fund finance growth – IFLR1000 (March 2025)
- Advisers See Revival For UK Transactions In 2025 – Law360 (January 2025)
- Fund finance: NAV boom - video – Structured Credit Investor (December 2024)
- What Partners Should Know About Net Asset Value Loans – Law360 (November 2024)
- The Rise of Collateralised Fund Obligations – What GPs and Investors Need to Know – Global Legal Insights, Fund Finance Laws and Regulations 2024, 8th Edition (January 2024)
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- University of Sussex, LL.B. (Hons)
- Inns of Court School of Law, LPC
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- England and Wales
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- The Law Society
- Fund Finance Association