Tom Cochran is a partner in the Finance Department of the London office of Latham & Watkins and a member of the Structured Finance Practice. He is also a member of the firm’s Opinions & Confirmations Committee.

Tom is an industry leader across asset-based finance and securitization. He works for banks, funds, and corporate clients across all asset classes, including advising on transactions collateralized by trade receivables, NPLs, residential mortgage loans, unsecured personal loans, auto loans, credit card receivables, fintech-related financial assets, music rights, infrastructure loans, corporate loans (CLOs and fund finance), and an array of other esoteric asset classes. The transactions have arisen in the context of portfolio acquisitions, bank partnerships, back leverage transactions, corporate restructurings, broader M&A transactions, as well as ongoing treasury management, each of which have demanded bespoke financing solutions. He has advised on the full breadth of securitization structures, from public securitizations to private and bespoke financings. 

Tom has also advised on a number of structured trade and energy-related finance transactions, including gas and power financings, commodity receivables securitizations for large energy traders, freight receivables securitizations, inventory and commodity-backed structured finance transactions, and structured supply chain finance solutions.

Prior to joining Latham, he was an executive director at Goldman Sachs, supporting its securitization and structured finance businesses.

Tom’s transactional experience includes advising:

  • Tabby, a leading shopping and financial services app in the Middle East, on its ground-breaking US$700 million receivables securitization, the largest asset-backed facility obtained by a fintech company in the MENA region to date, which earned the 2024 IFLR Middle East Award Impact Deal of the Year
  • Ares Management Alternative Credit Funds on its strategic collaboration and partnership with ABN AMRO in relation to a €1.3 billion loan portfolio
  • Lendo, the leading debt crowdfunding platform in Saudi Arabia, on the first P2P securitization in the country involving a US$690 million (SAR 2.6 billion) warehouse facility provided by J.P. Morgan
  • J.P. Morgan on its joint venture with Quilam Capital to provide senior financing to the UK and European non-bank specialty finance sectors
  • J.P. Morgan on a £300 million securitization of unsecured salary-deduction loans originated by Salary Finance
  • Barclays on a novel £700 million financing backed by Supplier of Last Resort energy-related receivables originated by Octopus Energy
  • Advised a leading US financial institution in connection with a pioneering asset-backed financing for Deem Finance LLC, a prominent consumer finance provider in the UAE
  • Lowell, a leading European non-performing debt purchaser, in connection with its inaugural public securitisation “Wolf III”
  • Blackstone and others on a number of music royalty-backed securitizations
  • J.P. Morgan in connection with a £200 million securitization of credit card receivables originated by New Wave Capital (trading as Capital on Tap)
  • The arrangers on the wholesale restructuring and refinancing of a £400 million private securitization of UK second-lien residential mortgage loans
  • Startline Motor Finance on its UK STS and London-listed auto-loan public securitizations
  • A leading financial institution on an asset-based loan collateralised by a securitization equity tranche
  • Tamara, a shopping and payments platform, on a first-of-its-kind US$150 million securitization of buy-now-pay-later receivables originated in The Kingdom of Saudi Arabia
  • Goldman Sachs on its US$150 million receivables securitization for Splitit, a buy now, pay later provider
  • J.P. Morgan as the arranger of a first-of-its-kind €150 million energy receivables securitization established for Public Power Corporation (PPC)
  • DE Shaw on its mezzanine investment in an innovative private financing/securitization for Casavo S.p.A, an Italian PropTech firm 
  • A private credit fund in connection with multiple “forward flow” private securitizations of bridging and development mortgage loans and negotiation of back leverage
  • YouLend, a merchant cash advance business, on a UK private securitisation
  • Goldman Sachs on its proposed purchase of a €3 billion portfolio of Spanish residential mortgage loans known as Project Prometeo
  • On other portfolio acquisitions of residential mortgage loans and unsecured personal loans (including, through portfolio call options) and associated bridge financing and/or follow-on or “exit” securitization transactions
  • On delivering global trade receivables securitizations for large chemicals groups*, various commodity traders*, and a global shipping group (with experience in over 30 jurisdictions)
  • Christofferson Robb & Company on the purchase and financing of a French NPL portfolio from Credit Logement
  • On the establishment of an NPL joint venture platform for a European credit management specialist and third-party investor, as well as multiple private securitizations of unsecured NPLs
  • J.P. Morgan on a €180 million auto-lease securitization for Autohellas, the largest national franchisee of Hertz International
  • On behalf of leading international banks in connection with a number of UK and South African auto-loan and lease securitizations 
  • J.P. Morgan on a SEK2 billion securitization of Swedish personal loans originated by Resurs Bank
  • On a range of other private personal loan/credit securitizations in the UK, Spain, Sweden, Finland, and other European jurisdictions
  • KKR in respect of financing arrangements relating to the purchase of a £500 million credit card portfolio by Jaja, a UK FinTech lender
  • On a number of other private credit card securitizations, including in the UK and Greece
  • On the structuring and regulatory advice for CLOs and CLO risk retention vehicles 
  • On the wholesale restructuring of a European bank’s ABCP conduit program* 
  • On a range of matters relating to certain central bank funding facilities available under the Bank of England’s Sterling Monetary Framework* 

*Matter handled prior to joining Latham 

Bar Qualification

  • England and Wales (Solicitor)

Education

  • LPC, BPP Law School, London, 2007
  • Graduate Diploma in Law, Oxford Brookes University, 2006
  • BA in Modern History, Magdalen College, Oxford University, 2005
Badges and Logos_Law360_Fintech Group of the Year_2024
February 20, 2025 Recognition

Fintech Group of the Year: Latham

Firm honored by Law360 for advising startups, financial institutions, VCs, digital asset and Web3 participants, and corporations on their most innovative and complex transactions, investigations, litigation, and regulatory matters.