Kelly A. Lazaroff

KELLY LAZAROFF represents a diverse range of leading direct lenders, financial institutions, private equity firms and corporate borrowers in a variety of complex financing transactions.Her practice focuses on private credit-backed acquisition and other leveraged financings, as well as in- and out-of-court restructurings and liability management exercises, including U.S. and international asset-based, cash-flow, first lien/second lien and unitranche facilities, junior capital investments and debtor-in-possession financings.Kelly also has experience in structuring and advising bank-credit fund partnerships and other finance companies.

In addition to her leveraged finance practice, Kelly regularly advises public and private companies on corporate lending and structured finance transactions, buyers and sellers in financial asset mergers and acquisitions, as well as financial institutions and other investors in structuring and documenting joint ventures and strategic investment programs.

Chambers USA has recognized Kelly for Banking & Finance in Illinois (2024–2025).

Kelly’s experience includes the following representations:

• The private credit arm of a major asset management firm as administrative agent in connection with $167.5 million senior secured credit facilities to finance the acquisition by a private equity firm of a publishing business
• A joint venture finance company as administrative agent in connection with a $100 million senior secured first-out last-out asset-based revolving credit facility to an international offshore oil services provider
• The private credit arm of a major asset management firm as administrative agent in connection with $127.5 million senior secured credit facilities to support the simultaneous acquisition by a private equity firm of 19 insurance brokerage and service businesses
• A major non-bank finance company as administrative agent in connection with $285 first lien credit facilities to finance the strategic acquisition of a portfolio of radio stations
• The credit affiliate of a major private equity firm as sole lender and arranger of a $55 million second lien term loan to finance the strategic acquisition of a food distribution company
• A private equity firm in connection with $3.3 billion first and second lien financings for the taking private of an international travel commerce technology company
• A public real estate finance company in connection with a $400 million senior secured institutional term loan
• A public real estate finance company in connection with its $2.56 billion acquisition of a project finance debt platform and loan portfolio from a major multi-national conglomerate and the $1.7 billion senior secured financing thereof
• The private credit arm of a major asset management firm in connection with its $2.4 billion acquisition of a middle-middle market loan portfolio and the $1.85 billion senior secured financing thereof
• A major multi-national conglomerate in connection with its $12 billion sale of its private equity lending platform
• A major financial institution in connection with the formation of a strategic investment joint venture originating middle-market senior secured unitranche loans 
• A major financial institution in connection with the formation of a strategic investment joint venture originating senior secured asset-based loans 
• An owner-operator of single-family homes in connection with numerous warehouse facilities, 144A term securitizations and other term financings and joint ventures