Paul Hastings continues London rebuild with fund finance hire

Paul Hastings has continued its London rebuild with the hire of fund finance partner Jennifer Passagne from Haynes Boone, adding firepower in a fast-growing area of private capital work.

Passagne advises private equity and venture capital funds on a broad range of fund finance structures, including NAV facilities, hybrid facilities, GP support lines and capital call facilities, and also brings lender-side experience in leveraged and acquisition finance.

She joined US firm Haynes Boone in 2021 from Willkie, having earlier practised at Simpson Thacher and Allen & Overy.

Her arrival comes as fund finance has become a central tool of modern fund strategy, giving sponsors rapid access to funding for acquisitions and investments without needing to call capital from investors. Paul Hastings chair Frank Lopez said the global market is forecast to grow from roughly $1.2 trillion to more than $2.5 trillion by 2030.

The firm said Passagne’s practice aligns with several core strengths, including private equity, private credit, structured credit and leveraged finance.

A London rebuild

The hire follows a period of partner attrition for Paul Hastings in London, which has seen a number of senior departures this year. In recent weeks, the firm has been in rebuild mode, adding securitisation partner Tom Picton from Ashurst and corporate tax partners Jenny Doak from Weil and Catherine Richardson, formerly of Cadwalader..

What they said

Lopez said fund finance was a strategic priority for the firm and that Paul Hastings aimed to be "a leader in the space with premier talent like Jennifer."

Passagne said she was “excited to join so many talented partners across Paul Hastings’ global platform,” adding: "It’s been impressive to watch the firm gain market share in high-end transactions, especially in private equity and finance."