New York

Wachtell Lipton Rosen & Katz was founded in 1965 in New York. Since then, the firm has become a go-to for business law globally, whilst maintaining their sole New York office.

Highlights

The firm’s M&A and banking and finance practices are two of its strongest. The M&A team acts on both the buy and sell side in private equity buyouts, public acquisitions and private strategic acquisitions. It also advises clients in mergers, joint ventures and investments. The team has strong expertise across all industries. Bridge loans, commercial paper programs, multicurrency revolving credit facilities and acquisition financing transactions are the kinds of deals the firm's banking practice advises on, mostly on the borrower side.

Key clients

Key clients include XPO Logistics, AECOM Technology, Gap, Expedia, Warburg Pincus, Telesat, Alexion Pharmaceuticals, Kansas City Southern, Salesforce, Centerbridge Partners, Itaú Unibanco and Mallinckrodt.

Akin Gump Strauss Hauer & Feld, or Akin Gump, was founded in 1945 in Dallas. Since then the firm has expanded to 20 locations across three continents. In the US, the firm has 11 offices across six states.

Focusses / specialisms

Firm wide, Akin Gump is best known for its work with hedge funds, private equity funds, power project development and restructuring and insolvency.

The firm’s DC and Texas branches are arguably its best known. Its strongest M&A and restructuring and insolvency teams are based in DC and Texas.

The banking practice represents borrowers and lenders in credit facility agreements, loan facility agreements, DIP financing and refinancing.

Its active in capital markets and represents issuers in debt and equity transactions including bond offerings, high yield bond offerings, IPOs, recapitalizations, private share placements, public share offerings and tender offers. 

The M&A team represents private equity and strategic buyers and sellers in public and private acquisition and merger transactions. It also advises clients in strategic investments.

The project development team represents developers and financial sponsors in project development, acquisition and financing transactions across the energy and oil and gas industries. 

Real estate is also a big industry for the firm, so much so that it has its own practice. The real estate team represents commercial and residential developers and private equity investors in matters relating to acquiring and selling land and properties and development.

While the firm is active in numerous industries, it is particularly so in the oil and gas and power sectors.

Key clients

Key clients for the firm include FirstEnergy, Alliance Data Systems, Diamondbank Energy, East West Bank, Apollo Global Management, Shell Midstream Partners, BlackRock Realty Advisors, Pacific Investment Management Company, PNC Energy Capital and Royal Bank of Canada.

Research period review: 30th edition (2019/2020)

During the research period, teams across the board worked largely in the oil and gas and power industries.

The banking team advised largely borrowers in financing transactions such as credit facility agreement and loan facility agreements. Along with the restructuring and insolvency team, it also represented a fair amount of debtors and creditors in DIP loan financing, Chapter 11 cases and financial restructurings.

The capital markets team advised issuers on largely bond issuances, private share placements and public share offerings. Many of the transactions were a part of a larger public M&A deal.

The M&A team continued to represent a mix of private equity and strategic buyers and sellers in acquisition and merger transactions. 

The project development team represented a mix of developers and financial sponsors in project development, acquisition and financing transactions. Renewable energy was a big industry for the team, especially concerning solar plants.

The real estate team represented a large amount of developers and investors in real estate acquisitions and dispositions. Many of the transactions related to the hotel industry and disposition of data centers.

In lateral hires the banking team recruited partners Lucas Charleston and Rizwan Kanji from Stroock & Stroock & Lavan and King & Spalding respectively. Lucas Charleston is also an addition to the M&A team which partner Elazar Guttman also joined from Kirkland & Ellis. Partner Michael Gustafson joined the firm from an in-house position at a private equity firm. The project development team hired Sam Kamyans and Matthew Kapinos from Baker McKenzie and McGuireWoods respectively.

Partners Phyllis Young, David Simonds and Charles Gibbs left the firm for McGuireWoods, Hogan Lovells and Katten Muchin Rosenman respectively. In M&A partners Patrick Rice and Edward Zaelke left for Greenberg Traurig and McDermott Will & Emery respectively. Edward Zaelke was also part of the project development team, which also lost partner Carl Fleming to McDermott Will & Emery. 

Deal highlights: 30th edition (2019/2020)

Diamondbank Energy $9.2 billion acquisition of Energen

Lāwa’i 28MW solar photovoltaic power plant and 100MWh power storage facility

Majestic Resorts hotel development

Rattler Midstream Nasdaq IPO

RegionalCare Hospital Partners / LifePoint Health $1.425 billion 9.75% bond issue

Sears restructuring 

WildHorse Resource Development $2 billion RBL credit agreement

The earliest iteration of Alston & Bird was formed in 1893 in Atlanta. Since then, it has expanded to 13 offices, 10 of which are in the United States, in Atlanta, Charlotte, Dallas, Fort Worth, Los Angeles, New York, Raleigh, San Francisco, the Silicon Valley and Washington D.C. The firm has an international presence with offices in Beijing, Brussels and London. It has a notable banking and finance practice, frequently advising commercial banks and engaging in fund finance, private credit funds, public company borrowers and private equity sponsors. 

Bracewell got its start in Houston, Texas in 1945. Since then, it has become a market leader in Texas in financial and corporate law. The firm has also opened an additional nine offices in three countries. In the United States, the firm has locations in Austin, Hartford, Dallas, Houston, New York, San Antonio, Seattle and Washington D.C. Bracewell has expanded its reach internationally with offices in Dubai and London. It also has a notable New York practice. The banking team advises international banks and other financial institutions as administrative agents and lenders on commodity asset-based loans and leveraged financing deals. The firm is also adept in sustainable project financing transactions in the energy sector. 

Brown Rudnick is an international firm best known for its work in restructuring and insolvency. It is part of The Law Firm Network and has eight offices across three countries. In the United States, the firm has six offices, each in different states. 

Focusses / specialisms

The Boston, Massachusetts office has one of the best restructuring and insolvency practices in the region. The firm also has a notable restructuring and insolvency team in New York. The restructuring and insolvency team represents creditors, debtors and trustees in Chapter 11 cases mostly. The team does also work on other insolvency cases and financial restructurings. 

Key clients

Key clients for the firm include the Financial Oversight and Management Board for Puerto Rico, Official Committee of Unsecured Creditors of Legacy Reserves, Boston Herald, DW Partners and term loan lenders to Pier 1 Imports.

Research period review: 30th edition (2019/2020)

Over the most recent research period, the restructuring and insolvency team in Massachusetts represented mostly creditors and trustees in some of the largest Chapter 11 cases ongoing currently in the nation. It also represented debtors in financial restructurings. The New York team also represented largely creditors in Chapter 11 cases and financial restructurings.

In terms of lateral movements, the bankruptcy and corporate restructuring practice lost partner Howard Steel, who left to join Goodwin.

Deal highlights: 30th edition (2019/2020)

Boston Herald Chapter 11

EXCO Resources Chapter 11

Commonwealth of Puerto Rico municipal bankruptcy

Legacy Reserves $1.75 billion Chapter 11 restructuring

Founded in 1792, Cadwalader is one of the oldest law firms in America and the oldest continuing Wall Street practice in the nation. Following its first office in New York, the firm has expanded to two national offices in Washington DC and Charlotte and international offices in London and Dublin. Though it has experience in a wide variety of financial and corporate practice areas, Cadwalader is nationally recognized for its outstanding work in structured finance and securitization, largely led by the New York team. The New York team also does well in the M&A space. In M&A, the firm works on take-private acquisitions, tender offers and other cross-border acquisitions on the buyer and seller sides. 

Since its founding in New York in 1919, corporate and litigation firm Cahill Gordon & Reindel has become a market leader in high yield debt and banking. It also added offices in Washington DC and London. The firm is consistently recognized for its pro bono and diversity and inclusion efforts. In addition to Cahill’s top tier banking and high yield debt practice, it has outstanding debt and equity capital markets teams. The firm’s New York office has one of the best capital markets teams in the region. The firm advises underwriters on equity offerings for a variety of corporate clients. The firm advised underwriters on equity offerings for a variety of corporate clients.  

Cleary Gottlieb Steen & Hamilton was formed in 1946 with offices in New York and Washington DC. Since then, it has expanded its global reach to include 13 international offices on three other continents. New York and DC remain the firm’s only American offices.

Focusses / specialisms

The firm is best known for its work in debt and equity capital markets, derivatives and regulatory financial services. It is also highly praised for its commitment to pro-bono work and diversity and inclusion. It has an award winning pro-bono practice and mentoring program.

In addition to its standout practices, the firm does strong work in banking, M&A and private equity. Given its international presence, the firm is able to advise on Hong Kong, Belgium, Germany, Italy, the UK and France law.

The regulatory financial services practice advises banks, financial institutions, fintech companies, trade associations, broker dealers and swap dealers on legislative compliance and securities and M&A transaction compliance. Notably, it has increasingly advised fintech companies on blockchain and virtual currency regulations.

In debt capital markets, the team advises both issuers and underwriters in investment grade corporate bonds, sustainability bonds, green bonds, mortgage bonds, Eurobonds, sovereign bonds and high yield bond offerings.

On the equity capital markets side, the team represents issuers, selling shareholders and underwriters in IPOs, share buybacks, recapitalizations, follow on offerings, public share offerings, private stock placements and secondary offerings. In derivatives, the team advises issuers and underwriters in forwards, swaps and options.

The structured finance team represents issuers, initial purchasers and underwriters in ABL, securitizations, mortgaged backed securities and CLOs.

In investment funds, the team represents investment firms in fund formations and investments.

The M&A team represents strategic buyers and sellers in high value acquisitions, mergers and joint ventures across an array of industries. The firm also works on private equity M&A transactions through the private equity practice, which also represents firms in recapitalizations and investments.

The restructuring and insolvency team acts for creditors and debtors in out of court financial restructurings, international bankruptcy cases, and Chapter 11 and 15 proceedings. The project finance team is active in the ports, power, infrastructure, oil and gas and telecommunication industries, where it represents lenders and borrowers.

Key clients

Key clients for the firm include BNP Paribas, Citigroup, Starbucks, Verizon, Bank of America Merrill Lynch, Morgan Stanley, Vista Oil & Gas, MercadoLibre, True Digital, Commerzbank, Owl Rock Capital, Goldman Sachs, TPG, KKR, International Flavors & Fragrances, Alphabet, ESL Investments, Warburg Pincus, Venezuela Creditors Committee, Geoffrey, the Puerto Rico P3A, BlackRock, 

Research period review: 30th edition (2019/2020)

During the research period the regulatory financial services advised a range of banking and non-banking institutions in transactional securities and M&A compliance, as well as compliance with regulations including the Volcker Rule, Dodd-Frank Act, Basel III and the Investment Advisers Act. 

The project finance team represented mostly lenders in transactions. Many of the transactions were connected to acquisition financing of a project and many of the projects were in the infrastructure and renewable energy industries.

The debt capital markets team advised a mix of issuers and underwriters in bond issuances of varying types, the most being investment grade corporate bonds and high yield corporate bonds. 

The equity capital markets practice saw a lot of IPOs, representing issuers, selling shareholders and underwriters.

The derivatives team also advised a mix of issuers and underwriters, but regarding mostly swap and forwards derivatives.

The structured finance team dealt largely with CLO’s, advising clients on all sides.

The investment funds team continued to represent investment firms in an equity mix of fund formations and investments.

The M&A team represented strategic buyers and sellers in acquisitions, mergers and joint ventures. The transactions were mostly in the billion-dollar range.

The private equity team also represented clients on the buy and sell side in billion dollar acquisitions and mergers. It also worked on investments and recapitalizations.

The restructuring and insolvency team advised mostly creditors in some of the largest ongoing bankruptcy cases in the world. It also worked on numerous out of court financial restructurings. 

Regarding lateral moves, capital markets partner Pamela Marcogliese left the firm for Freshfields. Structured finance partner Paul St. Lawrence joined Morgan Lewis. The M&A lost partners Ethan Klingsberg and Paul Tiger, the latter of whom also specializes in private equity, who left for Freshfields. In restructuring and insolvency, partner James Bromley moved to Sullivan & Cromwell and partner Lee Buchheit retired.

Deal highlights: 30th edition (2019/2020)

CBS / Viacom merger

Citigroup €1 billion fixed rate green bond issuance

Owl Rock $595 million CLO I and $396.6 million CLO II

PG&E Chapter 11 bankruptcy

Pinterest NYSE IPO

TPG Partners VIII and TPG Healthcare Partners $14.2 billion fund formation

Founded in 1928, Cole Schotz is a notable law firm in restructuring and insolvency and real estate. It has expanded to seven offices nationwide in: Hackensack, New York, Wilmington, Baltimore, Boca Raton, Fort Worth and Dallas. Some of the firm’s strongest restructuring and insolvency teams are in the Hackensack, Baltimore and Wilmington offices. In New York, the firm's real estate work includes lease acquisitions, joint ventures, construction loan facilities and projects around energy and affordable housing.  

The history of Davis Polk dates to 1849 with its founding in New York. Over 170 years later, the firm has grown to 10 total offices spanning four continents. In the United States, Davis Polk has offices in New York, Washington DC and the Silicon Valley. It has standout practices in banking, capital markets, real estate, M&A and investment funds. The firm advises borrowers, lenders, joint venture partners, buyers and sellers across the intersections of real estate including refinancing, joint ventures, equity investments, mortgage loan financing and acquisitions. The firm’s private equity funds team advises on the fund formation and fundraising of domestic vehicles including pension funds. The firm’s registered funds practice works on complex funds, some of which were landmarks, in niche industries such as cryptocurrency and digital assets.   

Headquartered in New York, Debevoise & Plimpton is a global firm with 10 offices spanning three continents. In the United States, the firm has offices in New York and Washington DC. The firm leads in private equity, with outstanding M&A, regulatory financial services and banking practices. The firm also does great work in registered funds, restructuring and insolvency, M&A, regulatory financial services and capital markets. The banking and finance team is especially active on acquisition finance transactions and refinancings.  

International firm Dechert got its start in Philadelphia, but the New York office is its largest in the United States. The firm also has offices in Austin, Boston, Charlotte, Chicago, Hartford, Los Angeles, Orange County, Princeton, San Francisco, Silicon Valley and Washington D.C. This growth stems from decades of expansion, with the most current version of the firm’s name dating back to 1962. Globally the firm has 26 offices over three continents. Though the firm is active in several practices of financial and corporate law, its funds work has generated the most recognition as a top-tier practice.  

Since its founding in Minneapolis in 1912, Dorsey & Whitney has expanded to 19 locations across the United States, Canada, the UK and China. In the United States the firm has 13 offices spread throughout the country, including in Alaska, Colorado, Minnesota, Montana, New York and Utah.

Focusses / specialisms

Though the firm is international, it has a stronghold on the Minnesota market with their top tier Minneapolis office. The office does market leading work in banking, capital markets and M&A.

The Minneapolis office’s M&A practice represents strategic acquirers and sellers in middle market transactions, where it maintains a stronghold.

The office also has a dedicated real estate practice, showing the firm’s expertise in the real estate industry. The team represents REITs, property owners, investors and developers in all aspects related to commercial, industrial and residential real estate. This includes acquisitions, development and financing. 

The New York M&A team is also known for its middle market transactions, as well as cross border transactions between the US and China. The office has a US-China practice group focusing on these transactions. The M&A team represents private equity and strategic acquirers and sellers in acquisition related matters. It also advises private equity firms on investments.

The Salt Lake City office is one of the largest corporate practices in Utah. The M&A team represents private equity and strategic clients on the buy and sell side in acquisitions and mergers. It also conducts banking and capital markets work, advising private equity firms on equity investments and issuers on public offerings.

Key clients

Key clients for the firm include UnitedHealth Group, Medtronic, US Bancorp, Land O’Lakes, United Properties Development, US Bank National Association, Fairview Health Services, Virtus Real Estate Capital, Dope Media, High Street Capital Partners, Airspan Networks, Verano Holdings, Tower Arch Capital, NaviMed Capital, Nu Skin Enterprises and Zions Bank. 

Research period review: 30th edition (2019/2020)

Within the research period, the Minneapolis M&A practice represented both strategic buyers and sellers in acquisitions. Most of its acquisitions were in the healthcare, agribusiness and consumer goods and services industry. The real estate practice represented REITs, property developers, owners and investors in mostly real estate development and financing projects. The New York M&A team represented a mix of strategic and private equity clients on both the buy and sell side of acquisitions. It worked on numerous deals in the cannabis, healthcare and technology industries. The Salt Lake City office represented companies in strategic acquisitions and sales, with many of the deals occurring in the healthcare industry. It also advised numerous private equity firms in acquisitions and equity investments. 

In terms of lateral movements, the real estate practice in Minneapolis added partners Michele Thurnblom, who moved from an in-house position at Honeywell International and Bradley Williams, who joined from Best & Flanagan. The New York corporate and M&A practice brought over partner Edward Davis from Brown Rudnick. 

Deal highlights: 30th edition (2019/2020)

Best Buy $125 million acquisition of Critical Signal Technologies

EDP $375 million acquisition of Eli Lilly and Company rights

Pentagan South mixed-use urban redevelopment

New Age Beverages $85 million acquisition of Morinda Holdings

Freshfields’ presence in the United States began in 1977 with its opening of its New York offices. In the 40 years since, the firm has expanded to offices in Washington D.C. and Silicon Valley. The firm’s M&A practice leads clients to all-cash sales and other cross-border acquisitions sometimes involving buyer consortiums. The firm also represents publicly listed companies in cash sales and other transactions. Its work in the software sector is noteworthy. 

Fried Frank has offices in New York, Washington DC, London and Frankfurt. New York serves as both the oldest and largest office. The firm has an outstanding hedge fund and private equity practice. More broadly, the firm does also focus on banking, capital markets, M&A and restructuring and insolvency. The firm’s restructuring team often works on chapter 11 and 15 bankruptcy proceedings, advising joint administrators, senior mortgage and DIP lenders, shareholders and creditors in 363 sale processes, bond restructurings and recapitalizations.     

Gibson Dunn & Crutcher was founded in Los Angeles in 1890. It has since grown to 20 offices throughout four continents. In the United States, the firm has 10 offices in California, Texas, Colorado, New York and Washington DC. Its greatest presence is in California, where it has five offices throughout the state. The firm maintains a strong presence in California, where it has top-tier M&A practices in Southern California. Additionally, its Denver, DC, Dallas and Houston offices are standouts in their respective states in corporate practice areas. The firm’s New York practice has cohesive M&A and banking and finance teams that lead borrowers and syndicated lenders in cross-border acquisition financing transactions. 

Founded in 1993, Kasowitz Benson Torres has since grown to 10 offices in eight states. The firm is headquartered in New York City, where it also has the largest office. Additionally, it has lawyers in Atlanta, Denver, Houston, Los Angeles, Miami, Newark, San Francisco, the Silicon Valley and Washington DC.

The firm is known for its work in restructuring and insolvency and real estate. In real estate, the firm represents real estate developers, investors, lenders, REITs and property owners in matters including construction financing, joint ventures, acquisitions, mortgage loans, refinancing and development. Its clients work on residential, commercial and industrial developments, especially in New York.

Since its founding 135 years ago in 1885, King & Spalding has grown to 22 offices across three continents. In the United States, the firm has 11 offices, with its first office in Atlanta serving as the firm’s headquarters.

Focusses / specialisms

The firm is a market leader in corporate law in Georgia, but also has a strong presence in North Carolina. Firm wide, it has an especially strong oil and gas project development practice.

In banking work the firm represents borrowers and lenders in credit facilities and term loans for refinancing, acquisition financing and general corporate financing.

The capital markets team has experience on the debt side representing both issuers and underwriters in investment grade, convertible and high yield bond issuances.

The team also has experience in structured finance and securitizations, where it advises underwriters and lenders.

The investment funds team is concentrated globally but within the US, has offices in Chicago, Houston, Los Angeles, New York, Palo Alto, San Francisco and Washington DC.

In M&A the firm advises clients in strategic acquisitions, mergers and joint ventures. The team acts on both the buy and sell side. In conjunction with the M&A team, the private equity practice advises private equity firms in buy and sell side acquisitions.

The private equity team is highly regarded with their work in the energy, oil and gas, infrastructure, healthcare and life sciences industries, especially regarding acquisitions.

With the help of the private equity team, it advises REITs, private equity and financial services firms in fund formations.

The restructuring and insolvency practice maintains US teams in New York, Atlanta, Chicago and Houston. It represents government entities, debtors and creditors in distressed M&A transactions and Chapter 11 proceedings. In the projects practice, members advise financial sponsors and developers in projects in the oil and gas, infrastructure and energy industries. This includes construction, financing and acquisition.

Key clients

Key clients for the firm include Crédit Agricole, Citizens Bank, GSO Capital Partners, SunTrust Banks, Total System Services, Carter’s, Barclays Capital, Credit Suisse Securities, RBC Capital Markets, TSYS, Americold Realty Trust, BlueMountain Capital Management, Greystar Real Estate Partners, Prologis, Asana Partners, Government Development Bank of Puerto Rico Debt Recovery Authority, Monitronics, Jack Cooper Investments, Anadarko Petroleum, Bayport Polymers and NextDecade.

Research period review: 30th edition (2019/2020)

Over the research period, the banking team represented mostly lenders in refinancing, acquisition financing and general corporate financing.

In debt capital markets, the team was mostly on the issuer side for a fairly equal mix of investment grade, convertible and high yield bond issuances.

The investment funds practice, with the assistance of the private equity practice, advised private equity firms, REITs and asset management firms in fund formations.

The M&A and private equity teams worked together to advise private equity and strategic acquisitions and mergers. Energy, oil and gas, infrastructure were big industries for the practice. 

The restructuring and insolvency team worked largely on Chapter 11 proceedings, representing lenders. The project practice advised sponsors largely in oil and gas projects, specifically regarding LNGs. 

In terms of lateral moves, partners Justin Riess, Chris Molan and Jessica Standera left the banking practice. Partner Jonathan Arkins joined the structured finance and securitization team from Arnold & Porter. The investment funds practice recruited partner Conrad Axelrod from Schulte Roth & Zabel and private equity partners Christopher Chan and Christopher Gandia from Willkie Farr, Kate Luarasi from Proskauer Rose, Bryan McGee and Jeff Wolf Schatz from Simpson Thacher and Townshine Wu from Wachtell Lipton. The corporate and M&A practice brought over partners Erik Belenky from Jones Day and Larry Yanowitch, Tom Knox, Charles Katz and Jeremy Schropp from Morrison & Foerster. In projects, the firm brought over partners Ingrid Myers from Morgan Lewis, David Lang from Baker McKenzie, Alan Noskow from Manatt Phelps & Phillips and William Gordon who moved from an in-house position. The team also saw the retirement of partner Ken Culotta and departure of partners Vera de Gyarfas who moved to Mayer Brown and Dan Rogers who moved in-house. The restructuring and insolvency team recruited partners Matthew Warren and Roger Schwartz from Latham & Watkins, Andrew Brereton from Clifford Chance and Peter Montoni who came from in-house. Partners Jeffrey Pawlitz and Bradley Giordano left the firm. 

Deal highlights: 30th edition (2019/2020)

Americold Realty Trust $1.24 billion acquisition of Cloverleaf Cold Storage

Atmos Energy $1.5 billion refinancing

BB&T / SunTrust Banks merger

Bayport Polymers $1.2 billion acquisition of Borstar polyethylene plant

Dine Brands Global $225 million and $1.3 billion bond issue

Government Development Bank of Puerto Rico Title VI restructuring

Greystar Real Estate Partners X

UPS $1.5 billion 2.2%, 2.5%, 3.4% triple tranche bond issue

Founded in 1909 in Chicago, Kirkland & Ellis is a leading US and international firm with a network of 15 offices across spanning three continents.

The firm has its largest concentration of offices in its native jurisdiction with branches in Boston, Chicago, Dallas, Houston, Los Angeles, New York, Palo Alto, San Francisco, and Washington DC. 

Focusses/specialisms

In transactional work the firm is renowned – both domestically and abroad – for its expertise in advising financial sponsors on leveraged finance borrowing, high yield debt issues and acquisitions and exits. Financial restructuring expertise in general is another specialism. The firm practices and client base in the US are, however, more diversified than this.

The banking team represents borrowers in acquisition financing, project financing, liability management, financial restructuring, DIP lending, working capital financing, revolver loan agreements and term loan agreements.

In project finance and project development, the team has expertise in the oil and gas and energy industries, where it often advises developers.

In capital markets work the firm advises both issuers and underwriters in corporate bond offerings, high yield bond offerings, IPOs, share offerings and follow on offerings.

The M&A team represents strategic and private equity buyers and sellers in billion dollar transactions across all industries. In fact, the firm has one of the largest private equity practice areas in the country, where the team represents private equity clients in acquisitions and investments.

The restructuring and insolvency group advises debtors in financial restructurings and Chpter 11 cases.

Private equity is a core sector of activity and expertise for the firm and it has notable clients in the oil and gas and banking industries.

Geographically, at a state level, the firm’s offices in California, Illinois, New York and Texas are comparably strong and each has teams at, or close to, the top of the markets in their areas. 

Key clients

Key clients for the firm include AbbVie, Bain Capital Private Equity, Indigo Natural Resources, Citigroup Global Markets, Boeing, Grubhub, Goldman Sachs, Bristol-Myers Squibb Company, GlaxoSmithKline, KKR, Blackstone, Forever 21 and iHeartMedia.

Research period review: 30th edition (2019/2020)

Over the research period the firm was active across banking and finance, capital markets, M&A and private equity and restructuring. 

The banking team worked on a high amount of acquisition finance transactions across numerous industries including pharmaceuticals, banking and financial services and technology. It mostly represented borrowers in these matters.

The capital markets team represented mostly issuers in corporate bond offerings, high yield bond offerings, IPOs and share offerings across a diverse number of industries.

The M&A team represented strategic and private equity buyers and sellers in billion-dollar acquisition and merger related matters. It also continued to represent private equity clients in investments.

The project finance team concentrated on renewable energy projects, especially solar energy, and natural gas projects. Similarly the project development team was active in the oil and gas industry, advising clients primarily in midstream infrastructure and development on acquisitions.

The restructuring and insolvency team worked on some of the nation’s largest restructuring and Chapter 11 cases.

The firm made a number of new hires during the research period. The capital markets team added partners Pippa Bond and Monica Shilling from Proskauer Rose. Shilling is also experienced in private equity.

The project finance team brought in partners Ginger Collier from Norton Rose, Rustin Brown from Simpson Thacher & Bartlett, Nathan Santamaria from Linklaters, Brooksany Barrowes from Baker Botts and of counsel Nicholas Gladd from the Federal Energy Regulatory Commission. 

The project development team hired partner Debbie Yee from Latham & Watkins. Partners Michael Woronoff, Jonathan Benloulou and Chris Wu joined the firm from Proskauer Rose and partner David Klein joined from Paul Weiss. All four partners specialize in private equity and M&A. 

Another recent new joiner for the M&A team is partner Rajab Abbassi from Willkie Farr & Gallagher. M&A partner William Sorabella left the firm and joined Gibson Dunn.

Deal highlights: 30th edition (2019/2020)

AbbVie $83 billion acquisition of Allergan

BC Partners C$5.2 billion acquisition of Rhône Group’s equity interest in Garda World Security

Bristol-Myers Squibb $74 billion acquisition of Celgene

Chewy NYSE IPO

DTE Midstream $2.65 billion acquisition of Indigo Natural Resource’s gathering system and gathering pipeline in the Haynesville shale formation

iHeartMedia Chapter 11 restructuring

Staples $3 billion double tranche 7.5% and 10.75% high yield bond offering

Toys R Us Chapter 11 bankruptcy

Client feedback: 30th edition (2019/2020)

M&A

"Very responsive and practical, with good handle on commercial issues."

Private equity

"By far Kirkland's strongest qualities are its subject matter expertise and its willingness to work as hard as is required to get the job done as quickly as possible. They will work around the clock if necessary and generally will do it without being prodded to do so. They have a very strong pulse on the market and are able to provide very specific and accurate feedback when presented with questions."

Project finance

"K&E is best in class. Highly commercial and also detail-oriented. They are a tremendous asset."

Restructuring and insolvency

"The firm is excellent at marketing and has some excellent attorneys."

Bill Benitez

"Very accommodating, practical and responsive."

Jordan Murray

"Very knowledgeable on subject matter."

Rohit Chaudhry

"Best in the business."

New York based Luskin Stern & Eisler was founded in 1989. It is a boutique firm specialized in restructuring and insolvency and banking. 

Focusses / specialisms

Luskin Stern & Eisler is well recognized in banking and restructuring and insolvency, where it maintains its legal offerings. In the banking practice, the firm advises lenders in acquisition financing, refinancing and general corporate financing. The restructuring and insolvency practice acts for creditors in Chapter 11 and 7 proceedings. 

Key clients

Key clients for the firm include BNP Paribas, Citibank, Morgan Stanley, Bank of America, Sony Music Entertainment, Santander, Coöperatieve Rabobank, Brown Brothers Harriman, Viacom, Puerto Rico Financial Oversight and Management Board and Société Générale.

Research period review: 30th edition (2019/2020)

Throughout the research period, the banking team was on the lender side for numerous acquisition financings. The restructuring and insolvency team represented creditors in mostly Chapter 11 proceedings. It did also work on a couple Chapter 7 proceedings, as well as some high profile international bankruptcy cases. 

Deal highlights: 30th edition (2019/2020)

National Fish and Seafood Chapter 7 restructuring

The Weinstein Companies Chapter 11 restructuring

Client feedback: 30th edition (2019/2020)

Banking

“Tremendous subject matter expertise and highly responsive.”

“Very strong legal advice, excellent drafting of legal briefs and courtroom representation.”

“Practical advice, efficient service, excellent advocacy and great results.”

Restructuring and insolvency

“Excellent client service and very deep knowledge and practical application of restructuring process.”

“Boutique firm that provides partnership attention with attendant expertise. Practical and results oriented with the client’s interest in mind.”

“Strategic, thoughtful and knowledgeable about restructuring and bankruptcy. High effective advice at an efficient price.”

Mayer Brown is a large international firm that entered its current form through three cross-border mergers in the first decade of the twenty-first century. Today the firm’s network covers 27 offices spanning three continents. In the US, where the firm has several of its largest branches, it has a presence in six states and teams based in Charlotte, Chicago, Houston, Los Angeles, New York, Palo Alto, San Francisco, and Washington DC. It works directly with banks and borrowers on cross-border syndicated credit facilities. It also partakes in novel acquisition financing transactions. 

McDermott Will & Emery is an international firm founded and headquartered in Chicago. It has offices in 13 locations in the United States, and seven offices across five European countries.  The firm does notable work across many financial and corporate practice areas including banking, M&A, private equity, project finance and restructuring and insolvency. In banking work the firm represents borrowers and lenders in term loans, secured and unsecured credit facilities, subordinated debt facility and refinancings. The M&A team represents private equity and strategic buyers and sellers in acquisition, mergers and corporate reorganization related matters.

Founded in 1866, Milbank has grown to 12 offices worldwide. In the United States, the firm has offices in New York, Los Angeles and Washington D.C. It is a market leader in infrastructure project development, project finance and restructuring and insolvency. In projects, the firm advises on the financing of traditional and renewable energy projects. It advises banks as lenders and agents in tax equity investment and refinancing transactions. The capital markets team assists in financing projects, advising initial purchasers, bookrunners, underwriters and issuers in private offerings, green bond issuances for the purpose of acquisition financing, refinancing debt and other corporate financing matters.

Since its founding in 1873, Morgan Lewis & Bockius has massively expanded from one office in Philadelphia to 31 offices across three continents. In the United States, there are 17 offices across 11 states. In New York, it has an excellent M&A practice, advising on acquisitions, global investments and public tender offers in the media, crypto and life science industries among others. The firm also has a private equity practice that handles acquisitions and sales related to private equity clients.  

International firm Morrison & Foerster was founded in San Francisco in 1883. Over 135 years later, the firm has expanded to 17 offices across the US, Europe and Asia. In the United States, the firm has offices in Boston, Denver, Los Angeles, New York, Northern Virginia, Palo Alto, San Diego, San Francisco and Washington DC. The firm is active across all financial and corporate practice areas and project development but is best known for its outstanding work in restructuring and insolvency. It also has a strong real estate practice. The firm advises trusts and bank syndicates as administrative agents and arrangers on senior mortgage loans and construction loans for mixed-use developments among other units. 

Based in New York, Nishimura & Asahi is a contemporary firm that was launched in 2018. Along with its New York office it also has its headquarters in Tokyo. The specialty of the firm is corporate M&A. It is distinct due to its relationship with its Japanese clients that work with companies in the Americas. The firm is heavily involved in cross-border acquisitions, advising buyers, sellers and joint venture partners in the financial services and manufacturing sectors. Many of its clients are entering the American market for the first time. 

Full-service firm Norton Rose Fulbright is one of the largest firms in the world, spanning every continent in the world minus Antarctica. Globally the firm has 50 offices. In the United States it has 11 offices spanning seven states, with the largest concentrations in Texas and New York. 

Focusses / specialisms

Nationwide Norton Rose has a top project development practice and an exceptional project finance practice. Also of note is the restructuring and insolvency practice in Texas, which is a regional leader in the state. 

In projects, the firm advises developers and financial sponsors in construction and development projects in the energy, infrastructure and oil and gas industries. The projects team also handles project financing, where it represents lenders and borrowers in debt financing and acquisition financing related to projects in the same industries as project development.

The restructuring and insolvency practice is concentrated in New York, Houston, Austin, Dallas, San Antonio, Washington DC. and Los Angeles. The team advises trustees, creditors, monitors and debtors in Chapter 11 and 15 cases as well as foreign jurisdiction restructurings and insolvencies.

Key clients

Key clients for the firm include Copenhagen Infrastructure Partners, Clearway Energy Group, Energy Transfer Partners, Starwood Energy Group, Crédit Agricole, Bank of America, IFC, Nomura Securities, Investec, FTI Consulting Canada, Delaware Trust Company, JP Morgan Chase Bank, BNY Mellon and NextEra Energy. 

Research period review: 30th edition (2019/2020)

During the research period the project development team was highly active advising developers in renewable energy projects, especially wind and solar farms. Transactions that took place on the project finance side were in the same industries, with the team being largely on the lender side.

The restructuring and insolvency team represented mostly creditors and trustees in some of the largest bankruptcy proceedings both in the United States and globally. Many of these cases are ongoing.

In terms of lateral moves, in the project development and finance practice, partners Becky Diffen and David Burton joined the firm from McGuire Woods and Mayer Brown, respectively. Partner Michael Marsi left the firm for Orrick. In restructuring and insolvency partner Lawrence Larose left to join Winston & Strawn. 

Deal highlights: 30th edition (2019/2020)

iHeart Media restructuring 

Odebrecht restructuring

Sabine Pass LNG export terminal

Sears Holdings restructuring

Vineyard Wind 800MW offshore wind farm

Orrick Herrington & Sutcliffe was founded in 1863 in San Francisco. Since then it has expanded to 26 offices across three continents. In the United States the firm has 14 offices. 

Focusses / specialisms

The firm is best known for its work in structured finance and securitization. Its industry specialities include technology, energy, infrastructure and financial services.

The banking practice advises borrowers, lenders, arrangers and investors in complex financing transactions related to acquisitions, refinancing, project financing and general working capital financing. It also works on the capital markets side with sovereign and corporate debt offerings and hybrid securitizations. 

Key clients

Key clients for the firm include Applied Materials, Kingdom of Morocco, Poarch Band of Creek Indians, Equinix, Wells Fargo, RREEF America REIT II, Juniper Networks, Convoy, Cap Vert Energy and Greenlight Planet. 

Research period review: 30th edition (2019/2020)

Throughout the research period, the banking team was mostly on the borrower side in complex and novel financing transactions. Most of them were related to general working capital financings, but there were several related to acquisition and project financings. 

Deal highlights: 30th edition (2019/2020)

Kingdom of Morocco €1 billion sovereign bond issue

Poarch Band of Creek Indians acquisition of Sands Casino Resort

Based in New York, Nishimura & Asahi is a contemporary firm that was launched in 2018. Along with its New York office it also has its headquarters in Tokyo. The specialty of the firm is corporate M&A. It is distinct due to its relationship with its Japanese clients that work with companies in the Americas. The firm is heavily involved in cross-border acquisitions, advising buyers, sellers and joint venture partners in the financial services and manufacturing sectors. Many of its clients are entering the American market for the first time. 

Ropes & Gray was founded in 1865 in Boston. It has since expanded globally to 11 offices in three continents. In the United States the firm has offices in Boston, Chicago, New York, San Francisco, Silicon Valley and Washington DC. The firm is best known for its work in the United States for financial services regulatory, private equity and registered funds’ work. Its real estate and banking and finance practices are also strong, and have great cross-border presence, representing international financial institutions on their commercial mortgage loans portfolios and joint ventures. The firm is also active in the financing of real estate projects. 

Seward & Kissel was founded in 1890 and has since grown to two offices in New York and Washington DC. Though it only has a presence in the United States, it has an international presence with its alliance with Simmons & Simmons. Though the firm has a wider corporate practice, it is best known for its work in investment funds. The team is active across private equity funds, hedge funds and registered funds, representing advisers, sponsors and investment managers alike.   

Simpson Thacher & Bartlett was founded in 1884 in New York, where it still maintains its headquarters. The New York office is also the firm’s largest, but it has since expanded to 10 offices across three continents. In the United States, it also has offices in Houston, Los Angeles, Palo Alto and Washington DC. 

The firm is best known for its top tier work in banking, debt and equity capital markets, M&A and private equity. The firm’s New York office is a market leader in financial and corporate practices and the California offices are market leaders in capital markets. In financial services regulatory work the team advises banks and financial institutions in compliance related to acquisitions and equity investments.

Full-service international firm Skadden Arps Slate Meagher & Flom was founded in New York in 1948 and this branch remains its headquarters and largest office. It has since expanded to 22 offices across three continents. In the United States, the firm has offices in Boston, Chicago, Houston, Los Angeles, Palo Alto, Washington DC and Wilmington.

Focusses / specialisms

The firm’s New York, Washington DC, California, Illinois and Massachusetts offices are market leaders in their regions across financial and corporate practices. It also has standout offices in Texas and Delaware.

The banking team acts on the lender and borrower side in acquisition finance, multicurrency finance, DIP finance, project finance and refinancing.

In financial services regulatory work the team advises banking and financial institutions in compliance matters related to investments and acquisitions.

The capital markets practice works on debt, equity and securitization matters on both the issuer and underwriter side. In debt capital markets work the firm acts on investment grade and high yield bond offerings. The equity capital markets side works on IPOs, tender offers, common and preferred share offerings, follow on offerings and recapitalizations. In securitizations the team works on commercial paper programs, receivables backed securitizations, ABS’, CLOs and mortgage backed securitizations.

The investment funds practice works with asset management and private equity firms in fund formations, fund IPOs, and fund investments.

The M&A team acts on the buy and sell side in high value private equity and strategic acquisitions, mergers and joint ventures.

The firm also has a private equity practice that assists with private equity buyout related acquisitions.

The project development team represents developers and financiers in projects in the oil and gas, infrastructure and energy industries.

The restructuring and insolvency team acts on behalf of debtors and creditors in out of court restructurings and Chapter 11 and 15 proceedings.

Though the firm is active across all industries, it is particularly active in technology, real estate, banking and financial services and pharmaceuticals.

Key clients

Key clients for the firm include First BanCorp, Crédit Agricole, Banco Azteca, Centene, Zillow, Bank of America, Scotia Capital, Citigroup, CEMEX, Pfizer, Morgan Stanley, PayPal, Barclays, Eaton Vance, Fair Oaks Capital, AES, BlackRock, Tennenbaum Capital Partners, Caesars Entertainment Corporation, NextEra Energy Partners, Exact Sciences, Array BioPharma, DowDuPont, The Blackstone Group, Aflac, Irish Bank Resolution Corporation, UBS, Synergy Pharmaceuticals and Stearns Holdings.

Research period review: 30th edition (2019/2020)

Over the research period the financial services regulatory team advised banks and financial institutions in compliance matters stemming from high value acquisitions and investments. Much of the work that the banking team participated in was related to acquisition financing on the borrower side. It also did a significant amount of lender side work in DIP financing.

The investment funds team largely worked on fund formations, but also advised clients on fund maintenance matters including investments and regulatory compliance.

The M&A team acted on the buy and sell side in many of the country’s largest strategic acquisitions and mergers. It also worked on a significant number of important private equity acquisitions, with the assistance of the private equity practice.

The project development team was particularly active in the renewable energy and transportation infrastructure industries.

The restructuring and insolvency team largely represented debtors in out of court restructurings and Chapter 11 proceedings.

Firm wide, banking and financial services, pharmaceuticals, real estate and technology were big industries of deal acticity.

In 2019, New York based investment funds partner Lawrence Frishman retired. The Palo Alto office added M&A partner Michael Ringler, who came from Wilson Sonsini.

Deal highlights: 30th edition (2019/2020)

BA Credit Card Trust $1.25 billion Class A 2019-1 ABS

Centene $7 billion triple tranche 4.750%, 4.250% and 4.625% bond issue

Fidelity National Information Services / WorldPay merger

Further Global Capital Management / Stone Point Capital $4.2 billion acquisition of Duff & Phelps

Irish Bank Resolution Corporation Chapter 15 bankruptcy 

Newark Liberty International Airport ConRAC facility

Pinterest NYSE IPO

Zillow $1.5 billion financing

Stroock & Stroock & Lavan was founded in 1876 and has since grown to a full service firm operating in four cities in the United States. The firm’s headquarters and largest office is in New York, but it also maintains offices in Los Angeles, Miami and Washington DC.

Focusses / specialisms

Nationwide, the firm is best known for its work with registered funds. 

The New York office maintains a notable real estate and restructuring and insolvency practice.

The firm’s banking practice is closely linked to the restructuring and insolvency practice. Many of its financing transactions involve acting on the borrower and lender side for DIP and exit financings. It does also represent lenders and borrowers in acquisition financing and refinancing matters.

The derivatives practice advises banking and financial institutions in the commodities industry on financing, especially related to restructuring and insolvency. In investment funds, the team acts for financial institutions in fund formations.

The M&A practice acts on the buy and sell side in public and private acquisitions, mergers and joint ventures. Though it mostly works on strategic acquisitions, it does also participate in private equity acquisitions. 

The restructuring and insolvency practice advises creditors and debtors in Chapter 11 proceedings and out of court financial restructuring. 

The New York office in particular has a notable real estate practice, where it represents property developers, financiers and REITs in property development, acquisitions, financing and REIT formations. 

Key clients

Key clients for the firm include Innovairre Holding, JP Morgan Chase Bank, Payless, Axar Capital Management, Metropolitan Partners, the official committee of unsecured creditors of EP Energy, Merrill Lynch Commodities, Freepoint Commodities, Mirae Asset Securities, Ultimate Sotware, Castleton Commodities, Highlands REIT, Capitol Yards REIT, Samsung SRA Asset Management and Wicker Park Capital Management. 

Research period review: 30th edition (2019/2020)

During the research period the banking team mostly represented lenders in DIP financing matters connected with out of court restructurings and Chapter 11 proceedings, with the help of the restructuring and insolvency practice.

Much of the work done within the derivatives practice also related to restructuring and insolvency matters.

The investment funds team advised clients in fund formations of many different types, but saw a lot related to real estate. In M&A, the practice largely worked on strategic acquisitions.

The real estate practice saw a lot of REIT related matters as well as property financing and acquisitions.

Regarding lateral moves the restructuring and insolvency team brought over partners John Storz and Allison Miller from Brown Rudnick and Akin Gump, respectively. Banking and restructuring partner Lucas Charleston left for Akin Gump. Partner David Olstein, who specializes in ERISA investment fund formation joined the firm from Groom Law Group.

The real estate practice in New York brought over three partners: Michael McCarthy, Elsa Ben Shimon and Jennifer Recine. The partners came from Dorsey & Whitney, Duval & Stachenfeld and Kasowitz Benson Torres, respectively. 

Deal highlights: 30th edition (2019/2020)

Freeport Commodities $2 billion refinancing

Hellman & Friedman $11 billion acquisition of Ultimate Software

Innovairre $250 million refinancing

JP Morgan Asset Management $1.25 billion financing

PG&E Chapter 11 restructuring

Client feedback: 30th edition (2019/2020)

Private equity

“Practical, commercial minded.”

Restructuring and insolvency

“Very commercial. Extremely responsive. Tremendous attention to detail. Good people.”

Full service business firm Thompson Hine was founded in 1911 in Cleveland. It has since opened offices in Atlanta, Chicago, Cincinnati, Columbus, Dayton, New York and Washington DC. 

Focusses / specialisms

Looking at the firm’s strengths geographically within the states, it maintains its strongest presence in Ohio, where it is a top tier firm in banking, M&A and restructuring and insolvency. It operates largely in the middle-market, representing public small to mid-size companies, as well as larger private companies.

The banking and finance group represents both lenders and borrowers in term loans, credit facilities and construction financing matters.

The firm’s M&A group represents private equity and strategic acquirers and sellers in acquisitions and mergers in a large variety of industries.

The restructuring and insolvency team represents creditors, trustees and debtors in out of court financial restructurings and Chapter 11 and 7 restructuring and insolvency cases.

In terms of sector focusses, the firm has a well-known dedicated real estate practice. The team represents property developers, managers and investors in all aspects of real estate including development, acquisition, financing and disposition.

The firm’s has been recognised for its diversity and inclusion initiatives, especially regarding equality for LGBTQ and women employees.

Key clients

Key clients for the firm include Home Depot, KeyCorp, Buckeye Power, Keybank, CIBC, Bank of America, Singleton, NRG Energy, Bay Point Advisors, Pratt & Whitney, Bank of China and Brookfield Asset Management.

Research period review: 30th edition (2019/2020)

In the research period the firm was active in banking and finance, M&A, real estate and restructuring and insolvency.

The banking and finance team represented both borrowers and lenders in term loans and credit facilities. Some of these transactions related to larger construction financing matters.

The M&A team represented a mix of private equity and strategic acquirers and sellers largely in the life sciences, industrial, automotive, manufacturing and technology industries. It was mostly on the buy side of acquisitions.

The real estate team represents a large amount of developers regarding commercial, residential and industrial property development. Many of these transactions had a relevant M&A portion as well. 

The restructuring and insolvency team largely represented creditors and lenders in out of court financial restructurings. It also worked on a couple of DIP acquisitions.

Recent lateral moves saw the M&A team hire DC partner Owen Pinkerton from Morris Manning & Martin and the restructuring and insolvency team hire partners John Bae and Sean Gordon from Baker Botts and Greenberg Traurig, respectively. Bae is based in New York and Gordon is based in Georgia. The banking and finance practice, meanwhile, recruited New York based senior counsel Tarnetta Jones from Otterbourg. This research period also saw the departure of Georgia based partner John Isbell.

Deal highlights: 30th edition (2019/2020)

Cintas Corporation No. 2 $1 billion revolving credit facility / $200 million term loan with a $250 million

Centre Lane Partners $104.5 million acquisition of assets of Hollander Sleep Products

Goodyear Tire & Rubber Company TireHub / Bridgestone Americas joint venture

NewPark Mall redevelopment

Vinson & Elkins was founded in Houston in 1917. Over 100 years later, the firm has expanded to 11 offices in three continents. In the United States, the firm has offices in Austin, Dallas, Houston, New York, Richmond, San Francisco and Washington DC. 

Focusses / specialisms

Vinson & Elkins is a market leader in Texas across all practice areas. Though the firm works across a wide plethora of practice areas, it is particularly skilled in the energy and oil and gas industries and is a top tier firm nationwide in oil and gas project development..

In banking work the team acts on the borrower and lender side in acquisition financing, refinancing, project financing and general working capital financing. 

The capital markets practice advises issuers and underwriters in debt and equity matters. In debt capital markets, the firm is experienced in investment grade and high yield bond issuances. The equity capital markets practice sees work with IPOs, private placements, at-the-market programs, preferred and common share offerings and convertible equity offerings. 

The M&A practice acts on both the buy and sell side in strategic and private equity acquisitions, joint ventures and mergers. The private equity practice assists with private equity acquisitions, but also advises private equity firms in firm investments. 

The project development team represents developers in projects in the oil and gas, energy and infrastructure industries. 

In restructuring and insolvency, the team acts on behalf of debtors and creditors in out of court restructurings and Chapter 11 proceedings.

Key clients

Key clients for the firm include Anadarko Petroleum, Vantage Energy, Earthstone Energy, Tyr Energy, Babson Capital, Gulf Coast Ammonia, Targa Resource Partners, Goldman Sachs, BBVA, Bank of America Merrill Lynch, Reata Pharmaceuticals, Alpine Income Property Trust, WildHorse Resource Development, TPG Capital Management, Oryx Midstream Services II, Blackstone Infrastructure Fund, Apollo Global Management, Morgan Stanley Infrastructure Partners, Tellurian, New Fortress Energy, Noble Energy, PennEnergy Resources, Harvey Gulf International Marine and Cloud Peak Energy.

Research period review: 30th edition (2019/2020)

Within the research period the firm continued its outstanding work in the oil and gas industries. 

The banking team acted mostly on the borrower side in acquisition financing, refinancing and project financing transactions.

In debt capital markets, the firm worked on more high yield bond offerings than investment grade offerings. The equity capital markets saw several IPOs, in addition to a significant amount of ATM programs and share offerings. In addition to its work in the energy industry, the capital markets team was also particularly active with REITs. 

The M&A team continued its top tier representation of strategic and private equity firms in acquisitions and sales. 

The project development team primarily advised developers in projects in the oil and gas and energy industries, especially concerning LNG infrastructure.

The restructuring and insolvency team represented mostly debtors in the oil and gas industry on out of court restructurings and Chapter 11 proceedings. It also worked on some distressed M&A matters. 

In 2019 the banking team saw partner Trevor Wommack leave for Latham & Watkins. Project finance partner Eamon Nolan joined the firm from Linklaters.

Deal highlights: 30th edition (2019/2020)

Alpine Income Property Trust NYSE IPO

Anadarko Petroleum $3 billion loan

Chesapeake Energy $3.977 billion acquisition of WildHorse Resource Development 

Harvey Gulf International Marine Chapter 11 restructuring

Targa Resource Partners $1 billion high yield bond issue

Tellurian Driftwood LNG Terminal 

Since its founding in 1931, Weil Gotshal & Manges has grown to become one of the country’s leading firms in M&A, private equity and restructuring and insolvency. It has also physically grown to 15 offices across three continents. There are eight offices in the United States: Boston, Dallas, Houston, Miami, New York, Princeton, Silicon Valley and Washington DC. The New York office serves as the firm’s headquarters and is also its largest. 

The firm is a market leader in M&A, private equity and restructuring and insolvency, but it is also well known for its work in the banking, structured finance and securitization and private equity funds practices. Overall it is a strong firm across all financial and corporate practices. 

Founded in 1888 in New York, Willkie Farr & Gallagher is best known for its work in private equity and investment funds, especially regarding M&A. The firm has also since expanded to 12 offices across the United States and Europe, with six of those offices being in the United States. The New York office remains the hub for the firm’s operations and is its largest office. In addition to its strengths in private equity, registered funds and hedge funds, the firm also does notable work in banking and restructuring and insolvency.