Ulrike Naumann

Ulrike Naumann

Head of General Finance Practice Group
Johannesburg, South Africa | Cape Town, South Africa
T: +27 11 669 9377
T: +27 21 480 7800
E: ulrike.naumann@bowmanslaw.com
  • Overview
  • Experience
  • Publications & Insights


Ulrike Naumann is a finance lawyer and heads our South African Finance Practice.

She specialises in secured and syndicated lending, structured finance, preference share funding transactions and mezzanine finance, as well as acquisition, property and leveraged finance. Ulrike advises on various complicated debt restructuring transactions and on private equity related work. She also advises arrangers and issuers on high yield bonds and second bond transactions in the South African and off-shore markets.

Ulrike was named as one of IFLR1000’s Women Leaders in 2020, which accolade also recognises her as an IFLR1000 Leading Lawyer and places her among the best transactional specialists within the Banking sector in South Africa. Ulrike’s expertise has also been recognised by Chambers Global for her work in Banking & Finance. She is a committee member of the International Bar Association’s Banking Law Committee.

She has B.Com and LLB degrees (both awarded cum laude) from the University of Stellenbosch and a Bachelor of Civil Law from the University of Oxford, UK. She has worked in South Africa, England and Germany and is fluent in English, Afrikaans and German.

Specialist Services

Relevant Experience

  • A versatile lawyer, Ulrike has significant experience in secured and syndicated lending, structured finance, mezzanine finance, preference share funding transactions, as well as acquisition finance, property finance and leveraged finance (particularly LBOs, both as advisor to senior and mezzanine funders) – both in South Africa and cross-border, in particular into other African countries. Ulrike has also been involved in advising banks and financial institutions on various complicated debt restructuring transactions.
  • Recent major transactions Ulrike has advised on include advising Alexander Forbes Equity Holdings Pty Ltd (and its subsidiaries) in connection with the reorganisation of its capital structure which involved various share buy-backs, redemptions, debt to equity conversions as well as raising new term debt, revolving credit facilities and preference share funding, with the parties to the transaction being situated in South Africa, England, Canada and the United States.
  • Ulrike has significant experience in debt capital markets transactions, with special expertise in advising arrangers and issuers of high yield bonds and secured bond transactions in the South African, other sub-Saharan African and off-shore markets.
  • Ulrike also advises on private equity related work.
  • Ulrike’s clients value her breadth of experience across different industries, sectors, jurisdictions and funding mechanisms and her ability to provide holistic, commercial advice to her clients.

Signature Matters


  • Ranked in Band 3 for Banking and Finance by Chambers and Partners for the past three consecutive years (2018 – 2020). Ranked in Band 4 for the same category in 2017.
  • Recognised as a Leading Lawyer for Banking and Finance by Legal 500 (2020 – 2019).
  • Named as one of IFLR1000’s Women Leaders for three consecutive years (2018 – 2020). Rated as a Highly Regarded Lawyer for Project Development, Banking, Project Finance and M&A by IFLR1000 (2020 – 2019) and for Banking (2018).
  • Recognised as a recommended lawyer for Banking and Finance by Legal 500 (2017).
  • Listed as one of the top five practitioners for Finance in EMEA and recognised in Banking: Finance by Who’s Who Legal (2018).
  • Recognised by Best Lawyers for Banking and Finance Law and Capital Markets Law (2017).

Head of the firm’s general finance practice, Ulrike Naumann is described as an “extremely strong” practitioner who is “very good with complex situations.” She is highlighted for her extensive experience in debt restructuring proceedings, representing clients both domestically and internationally. She is well regarded by banks for her extensive knowledge in the sector.Chambers and Partners 2020

Head of practice Ulrike Naumann is described by sources as a “tough lawyer” and “a very good driver of deals and work.” She advised Cell C on the refinancing and restructuring of ZAR22 billion of debt and hedging transactions. Interviewees state: “She’s got a strong following – her clients swear by her.” – Chambers and Partners 2019

“Very efficient and sound advice. We appreciate her ability to provide not only legal advice, but general direction navigating certain commercial matters.” – IFLR1000, 2019

General finance practice head Ulrike Naumann is seen as “energetic and technically strong” by market sources. She has quickly established a solid name for herself based on her acquisition finance and restructuring work. She advised Broad-Based Black Economic Empowerment-accredited Kleoss on its acquisition in Real Foods. – Chambers and Partners 2018

“Excellent understanding and very efficient.  Great lawyer.”– IFLR1000, 2018

According to sources, Ulrike Naumann “is fast establishing herself as a force to be reckoned with.” She acted for Absa and Standard Bank on a ZAR880 million funding package extended to In2Food in connection with the sale of an interest in its business to Old Mutual Private Equity. – Chambers and Partners 2017

Publications & Insights