David K. Solow

DAVID SOLOW’s practice focuses on representation of private equity funds, credit funds and other investment funds, banks, insurance companies, asset-backed commercial paper conduits, corporate borrowers and other financial intermediaries in asset-backed finance (ABF), structured finance, securitization, forward flow purchase, secured lending and special situations transactions. Financings and acquisitions of consumer loans and receivables, including personal loans (a/k/a marketplace loans), point-of-sale loans, student loans and credit card receivables, comprise a significant portion of his practice. David also regularly represents sponsors, issuers, agents and investors in collateralized fund obligations (CFOs) and rated note feeder transactions.

Prior to joining the firm, David served as a law clerk to the Honorable Mary M. Schroeder of the United States Court of Appeals for the Ninth Circuit.

Representative matters include:

• Representation of Apollo Global Management in the acquisition of Credit Suisse’s Securitized Products Group (SPG). The investment vehicles managed by affiliates of Apollo acquired the majority of SPG’s assets and other related financing businesses from Credit Suisse and formed a new platform to enter into an investment management agreement to manage the residual assets on Credit Suisse’s behalf.
• Representation of a joint venture among Nelnet, Inc. and certain investors as issuer’s counsel on the US$4,031,720,000 Nelnet Student Loan Trust 2021-A securitization backed by private student loans, one of the largest asset-backed securitizations in any consumer asset class since the 2008 global financial crisis.
• Representation of the buyer group in the acquisition of Wells Fargo’s approximately US$10 billion student loan portfolio.
• Representation of Thrivent Financial for Lutherans (Thrivent), White Rose CFO 2023 Holdings, LLC (the issuer), and other affiliated entities in connection with Thrivent’s inaugural US$400 million CFO offering.
• Representation of Ares Management Alternative Credit funds in connection with its joint venture with Certified Automotive Lease Corp (“CAL”) to purchase up to US$1.5 billion prime new vehicle leases originated by CAL.
• Representation of TruStage Financial Group, Inc. in its CFOs under the “MCA Fund” platform.
• Representation of Wafra Inc. (Wafra), Signal Rail Holdings LLC (a joint venture between certain funds managed or advised by Wafra and Trinity Industries Leasing Company) and Signal Rail I LLC (the issuer), in connection with the issuer’s US$125.36 million Series 2024-1 Secured Railcar Equipment Notes.
• Representation of Purchasing Power, LLC in the securitization of retail installment contracts repaid by payroll deduction.
• Representation of a major bank in the disposition of its FFELP student loan portfolio.
• Warehouse financings involving personal loans, student loans, credit card receivables, point-of-sale loans, middle market loans, growth capital loans, equipment leases, home improvement receivables, small business loans, merchant cash advances, securitization residuals, healthcare receivables, life settlement assets, trade receivables, auto leases, railcars and other assets.
• Securitizations involving personal loans, student loans, credit card receivables, point-of-sale loans, home improvement receivables, private equity fund investments (CFOs), auto loans and other assets, as well as whole business securitizations.
• Representation of a major insurance company in the establishment of its funding agreement-backed commercial paper program.
• Structuring and forming several asset-backed commercial paper conduits.
• Advising on the applicability of and compliance with the Volcker Rule, risk retention requirements and other financial regulatory initiatives.

• Former co-chair of the Young Leaders Subcommittee of the American Bar Association’s Securitization and Structured Finance Committee (2021–2022)