Mary Touchstone is a Partner and Head of the Fund Finance Practice at Simpson Thacher & Bartlett LLP. Mary regularly represents various financial sponsors in connection with debt financings for their private equity, real estate, energy, infrastructure, debt and other investment funds. She has extensive experience in complicated financings designed to provide fund-level leverage to facilitate and support investment activities.
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Work Highlights
- Subscription (or capital call) facilities secured by uncalled capital commitments and related rights, with borrowing base capacity for the fund as well as its parallel funds, alternative investment vehicles and portfolio companies
- Unsecured demand lines with an uncalled capital coverage requirement
- Letter of credit facilities provided to funds to support obligations in connection with portfolio investments
- Fund guarantees of portfolio level financings
- NAV-based facilities and hybrid variations provided as aftercare facilities for funds that are later in their life cycles with less uncalled capital and more portfolio asset value
- Co-investment loan programs made available, directly or indirectly, to employees and secured by their fund interests
- Management lines provided to investment advisers for working capital purposes
Accolades
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Lawdragon "500 Leading Lawyers in America" (2020-2023)
Education
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Vanderbilt University Law School, 1988 J.D.
Vanderbilt Law Review
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Duke University, 1985 A.B.
cum laude
Associations
- Vice Chairman, and Member of the Board, of the Fund Finance Association
- Member of the Board, and Co-Chair of the U.S. Committee, of Women in Fund Finance
Admissions
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U.S. District Court Southern District of New York 1993
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New York 1989
Mary Touchstone is a Partner and Head of the Fund Finance Practice at Simpson Thacher & Bartlett LLP. Mary has helped to establish Simpson Thacher as a global leader in the representation of financial sponsors in fund financings. She is widely acknowledged as a leading lawyer in the subscription credit facility market and represents many of the world’s preeminent sponsors of private equity, real estate, energy, infrastructure, debt and other investment funds on the largest and most complex fund facilities.
Mary and her team regularly work on a wide variety of fund level financings, including secured and unsecured subscription (or capital call) facilities, with borrowing capacity for the fund as well as its parallel funds, alternative investment vehicles and portfolio companies; fund guarantees and other credit support of portfolio level financings; NAV-based facilities and hybrid variations provided as aftercare facilities for funds that are later in their life cycles with less uncalled capital and more portfolio asset value; credit facilities for managed account vehicles; employee co-investment loan programs; management lines to investment advisers for working capital purposes; and liquidity financings for registered funds.
Mary serves as Vice Chairman, and Member of the Board, of the Fund Finance Association and Member of the Board, and Co-Chair of the U.S. Committee, of Women in Fund Finance. In 2023, 2022, 2021 and 2020, she was recognized among Lawdragon’s “500 Leading Lawyers in America.”
Mary received her A.B. from Duke University and her J.D. from Vanderbilt University Law School.