Jonathan Bray specialises in international fund formation, secondaries, and advisory work in the debt, real estate debt, real estate and private equity sectors.
His experience covers blind-pool funds, separate managed accounts and funds-of-one. In addition, Jonathan advises fund sponsors and investors on a range of fund-related products and transactions including co-investments, multi-currency and leveraged structures, secondary transactions including portfolio sales of fund interests, executive carried interest and co-investment arrangements, asset manager M&A, fund financings and open-ended funds. Jonathan also advises a number of significant institutional investors in connection with proposed private fund and separate account commitments.
- Advising BentallGreenOak in connection with the establishment of BentallGreenOak UK Secured Lending III.
- Advising Credit Suisse in connection with the establishment of the Luxembourg funds within its Private Credit Opportunities platform and Next Investors III.
- Advising DRC Capital on its spin-out from Duet Private Equity in 2012 and the formation of European Real Estate Debt Fund II, III and IV, European Real Estate Senior Debt Fund I - IX, UK Whole Loan Fund I and II, a number of separate managed account mandates, and the sale of a 25% stake in DRC Capital to Savills Investment Management plc.
- Advising Hillwood in connection with the establishment of its European and UK real estate fund series, UK Industrial Club II and III and EU Industrial Club III and IV.
- Advising Rothschild & Co on the formation Five Arrows Debt Partners III and its related co-investment structures
- Advising M&G Investment Management on the formation of its Real Estate Debt Finance series of funds
- Advising Nuveen in relation to the establishment of its UK real estate debt funds Global Real Estate Debt Partners I and II and a number of separate accounts.
- Advising Rothschild & Co on the formation of Five Arrows Debt Partners III and its related co-investment structures
News and client work
Contact details
- Clifford Chance, London
- +442070062137
- Email me
- Follow me on LinkedIn
- Practice area Funds & investment management, M&A corporate
- Sector Funds & investment management, Private equity
Career and qualifications
- York University (BA, English) 2005
Awards and citations
- "Jonathan is a stellar lawyer."
Chambers UK 2025 : Investment Funds: Real Estate
- "Jonathan is great to work with, given his calm and measured attitude."
Chambers UK 2025 : Investment Funds: Real Estate
- "He is thoughtful, thorough and a pleasure to interact with."
Chambers UK 2025 : Investment Funds: Real Estate - "Jonathan is great to work with."
Chambers UK 2025 : Investment Funds: Real Estate - "Jonathan is responsive, technical and solutions-oriented, and takes the time to really understand our business to provide top-level legal and strategic advice."
Chambers UK 2025 : Investment Funds: Real Estate.
- "Jonathan works well with investors and is very knowledgeable about everything relating to these vehicles."
Chambers UK 2025 : Investment Funds: Real Estate. - "Recommended" by The Legal 500 for real estate funds