A&O Shearman
A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling and has nearly 4,000 lawyers globally.
Highlights
The firm has a strong practice across the rankings in the UK achieving tier 1 status in multiple sectors including in M&A, financial services regulatory, project development and multiple capital markets among others. Within these areas one particular area of focus is on capital markets transactions which is corroborated by the volume of feedback they received in these areas.
Testimonials
Bank lending: Borrower side
“Professional, customer orientated and knowledgeable people.”
Capital markets: Debt
They are client oriented and always have innovative solutions to the questions raised by our team
“Their technical expertise, knowledge of the client and how we like to interact; availability of the partner in charge; responsiveness.”
“The team we work with, headed by Theo Trayhurn, has a high level understanding of the market with a helicopter view of what players in the market are doing and future trends. Theo and his team have a very good commercial sense and work pragmatically to find solutions, also across various jurisdictions. They work really well together as a team. The lawyers communicate well, are incredibly responsive, and absolute top professionals.”
“A&O service is top notch (from response time to user experience and understanding the various needs to make everything easy to understand).”
Capital markets: Structured finance and securitisation
“Excellent technical and product knowledge.
Close market intelligence and commercial approach.”
“Excellent technical knowledge and insight into the market.
A deep bench with true industry experts.”
“Ease of dealing with them.
Knowledge of and good relationship with partner contacts.”
“As this product is highly structured, the client often has bespoke requests. A&O are able to provide commercial solutions to the client's bespoke requests.”
“Always very rounded, commercial advice with elevated attention to detail, even on repeat transactions. Partners are available and plugged into all layers of a transaction, at appropriate levels. Full suite of advice available at short notice.”
Sirae Chen
“Relationship management, expertise, precision work, achieving deadlines.”
Jamie Durham
“Jamie is a skilled practitioner and is very approachable.”
Daniel, Hill, Industry knowledge, relationship management, knowledge of our buisness.
Lachlan Hopwood
“Quick response and is very thorough in his work (taking off the load and when needed make a very good explanation of what's need to be done).”
Tanya O'Hagan
“Tanya is top class. Always available to chat, great technical and industry knowledge.
Excellent pragmatic, commercial approach.”
“Excellent market knowledge and always happy to share insights.”
“Tanya is very hands on and is able to provide commercial solutions in response to the requirements of our clients. She is also very friendly and easy to deal with.”
Sally Onions
“Industry knowledge, client relationship, knowledge of our business.”
“Her sector knowledge is stand-out excellent. You can cold call her and ask her anything securitisation related and she'll not just know the answer but know most recent developments/potential changes as well. She's approachable, organised and very commercial too.”
Niels de Ru
“Organizing a great team, understand questions and requirements client and translates that into solutions.”
Amanda Thomas
“In Amanda's role as Head of International Capital Markets Know-How & Training, she interacts with Theo and feeds her suggestions to him to be implemented in our projects. She is incredibly easy to work with.”
Key clients
Key clients of the firm include CAB Payments, Noventiq, Kerogen Capital, Irish Department of Finance, Roads Transport Authority, Danske Bank, Nordea, Goldman Sachs, J.P. Morgan and Deutsche Bank.
Cleary Gottlieb Steen & Hamilton
Cleary Gottlieb Steen & Hamilton established its London office in 1971. The firm has over 1,000 lawyers across the globe.
Highlights
The firm has a particular strength in debt capital markets achieving tier 2 status in this practice area but is also highly active in both borrower and sponsor side bank lending as well as in M&A, achieving tier 3 status in all three of these practice areas.
Key clients
The firm’s key clients include Antofagasta, KKR, Fir Tree Partners, Celsa Group UK, Cerberus Capital Management, British International Investment, The Walt Disney Company, OpenText, Credit Suisse, ACG Acquisition, Barclays, Belron and Brookfield.
Clifford Chance
“Magic Circle” law firm Clifford Chance is headquartered in London and has more than 32 offices globally.
Highlights
Clifford Chance is truly one of the market leaders in the UK financial and corporate legal market. The firm has achieved tier 1 status in a total of 14 practice areas, including all both borrower and lender bank lending, M&A, private equity and both project development and finance among many others.
Testimonials
Banking and finance
“They are enormously dedicated to us as their client, really making efforts to understand the business. They take a very pro-active approach and can keep up with our high pace of dealings. Furthermore, one of CC's strengths is their ability to be product agnostic and collaborative across groups (given developments there was need for difference financings over relatively short period of time).”
Capital markets: Debt
“Responsiveness, assuredness, no egos, fair reliable pricing.”
“Deep knowledge and experience in SSA sector in Japan.”
“Good team size, responsiveness, seniority level, client focus.”
“Friendly and responsive team, exceptional capital markets deal experience and knowledge of market practice. Ability to work well with Issuer's counsel and the Issuer client. Agreed to stick with the quote provided.”
Capital markets: Equity
“Expertise, pragmatic approach, creative solutions”
“You receive a consistent, high-quality standard advice from all of the team.
They are knowledgeable, clear and help clients make decisions.
Each team member sees their role as to provide a client service - they don't make you run to other people / colleagues to find answers, they manage this for you.”
“Extremely strong team with ability to handle complex matters across multiple jurisdiction.”
“Absolutely outstanding - on top of issues, they understand the type of issues we are sensitive to and reach out to highlight issues to me as needed.”
“A calm and measured team, technically very strong, and generous with their time and expertise.”
“Great team that provides great customer service. They are able to handle the largest and most complex transactions. Their network of offices is a big plus in large international deals that span multiple jurisdictions.”
“Clifford Chance provide top-tier advise on complex deals that straddle multiple jurisdictions and regulatory regimes.”
“Attention to detail, familiarity with transaction issues, expertise.”
Capital markets: High yield
“Their expertise and ability to manage the banks in a transaction-driven but fair and client-sensitive manner. Their professionalism and attention-to-detail in aligning documentation to previously agreed covenant packages in our other group-level financings. Efficiency and range of expertise available. I was also quite impressed with their availability.”
Leveraged finance
“Depth and breath of expertise, delivered in an effective manner. Speed of response and achievement of ambitious timelines.”
M&A
“The team are very pragmatic and commercial, as well as super responsive and technically brilliant. Their insurance practice is genuinely understanding of the bigger picture in terms of regulation, internal capital controls and customer needs.”
“Their advice always reflects first-rate legal knowhow and commercial savvy. They (and our contact partner in particular) were second-to-none in their responsiveness on the transaction. Consequently my team and my Board felt extremely well supported by them.”
“Resourceful and responsive, particularly they are hands on and provide clients with a full suite of solutions which give clients a peace of mind.”
Project finance
“We appreciated their extensive knowledge, responsiveness, accessibility, structured approach, and overall professionalism.”
Matthew Ball
“He can provide us with practical advice in timely manner.”
Sarah Cheng
“Energetic, available, refreshingly down to earth and willing to give an opinion.”
Jennifer Chimanga
“Jennifer Chimanga has an incredible work capacity and is always on top of things. She is a highly effective and stellar negotiator. In addition she is also very pleasant to work with.”
“She is very hands-on and an excellent negotiator.”
Jill Concannon
“Is incredibly knowledgeable about deal structuring, addressing commercial considerations and the ins and outs of contractual documentation.”
“Client relations; identifying issues that may be of concern to banks; proposing solutions.”
Michael Dakin
“Client management; overall execution."
Paul Deakins
“Subject matter expert; responsive and present on transactions.”
“Paul is a go-to practitioner with a wealth of experience who can solve the most unexpected and complex issues that arise.”
Neil Evans
“Great communication and management skills.”
Inigo Esteve
“Excellent lawyer - always top of his game, willing to provide advice.”
Tom Grant
“Strong technical skills; good service delivery.”
Ross Howard
“Ross managed to use his extensive experience, knowledge and network to advise us in a pragmatic and commercially savvy way in order to obtain the best possible position.”
James Koessler
“Excellent technical knowledge, extremely pragmatic, hands-on."
“Excellent performer - always punching way above his weight and advising at quasi-partner level.”
Erik O'Connor
“Erik is very proactive in his approach to client interaction and matter management. He listens well to understand the problem, offers solutions which are backed with thought and seeks to appreciate how those will be received within the client organisation.”
David Pudge
“David is the most responsive external lawyer I have encountered in my career.
He consistently delivers industry-leading advice bespoke to our business and is unflappable.
My Board and I had absolute trust and confidence in his advice throughout our recent M&A transaction.”
Christopher Roe
“He is helpful and cheerful and very knowledgeable.
He helps us work through difficult situations and is generous with his time.”
“Extremely knowledgeable capital markets lawyer, deep experience in ECM.”
“Excellent at managing the relationship and steps in when things get hairy / oversees the work of other offices.”
“Top level expertise in all matters of UK securities law, excellent communication skills, anticipates issues and finds solutions.”
Drew Rundus
“Wide variety of knowledge across different capital markets and bank financing, which is helpful for companies exploring variety of financing options as well as capital structure concerns.”
“Drew Rundus (partner) is very pleasant to work with. Very pro-active, making investment to getting to know us as client, leveraging on this relationship based approach. He truly understands our business. Furthermore, works efficiently with other counsel as well.”
“Extremely responsive and exceptional availability. Deep industry sector knowledge to provide effective and innovative solutions.”
Simon Thomas
“Simon is a powerhouse. You are always reassured that he will pay your matter attention, not simply delegating to junior team members.
However, he always has a junior and you can see the knowledge transfer.
Simon is particularly good at managing banking colleagues. He has the gravitas and knowledge to reassure them but delivers the advice in a down-to-earth and practical way, enabling it to be digested and used.”
“Encyclopedic knowledge of the listing rules.”
Kate Vyvyan
“Respond to requests for quotes in good time; put together a suitable team relative to complexity of transaction; ensure delivery of documentation and conditions precedent consistent with market standards and client expectation; ensure smooth settlement process.”
“Excellent client relationship management. Friendly, accessible and responsive, combined with deep debt capital markets experience.”
Key clients
Key clients of the firm include Ardian, EQT, Cinven, CVC Capital Partners, Elliot Advisors, Citibank, Harbour Energy, Informa, Standard Chartered, Unilever, AerCap, HSBC, Link Fund Solutions, Polus Capital Management, Global Financial Markets Association and CryptoFacilities.
Cravath Swaine & Moore
Cravath Swine & Moore is one of the premier New York firms operating in London and in-line with that its strengths lie primarily in New York governed capital markets issues, both debt and equity.
Highlights
The firm’s greatest strength is in capital markets and in particular high yield capital markets achieving tier two status for this practice area. The firm is also very active in debt side capital markets.
Key clients
Key clients of the firm include Goldstory, INEOS, AngloGold Ashanti, Campari, Lifezone Metals, Tata Technologies, British American Tobacco, Casino Group, European Investment Bank, Investcorp, Marlin Equity Partners, Francisco Partners and Altamir.
Herbert Smith Freehills Kramer
Herbert Smith Freehills is headquartered in London and combines UK based law firm Herbert Smith and Australian law firm Freehills.
Highlights
The firm has a strong practice in the UK market, achieving tier 2 status for their practices in Project development and finance work, borrower side bank lending, debt and structured finance capital markets and M&A.
Key clients
Key clients for the firm include Goldman Sachs International, TSB Bank, Fidelity, MBK Partners, Government of Malawi, Iron Acton Green, Airbus, Brookfield, Bank of Montreal, Canadian Imperial Bank of Commerce, Glencore, Abcam, Synthomer, Three Hills Capital Partners, Babylon Healthcare, Pepper Money and Santander.
Latham & Watkins
Latham & Watkins is one of the largest US firms in London employing nearly 500 lawyers there, with partner Ed Barnett leading the London office.
Highlights
The firm is a strong player in the UK legal market achieving tier 1 status for their practices in high yield capital markets, both lender and sponsor side bank lending, project finance, private equity and restructuring and insolvency.
Testimonials
M&A
“Solid deliveries, pleasant to work with, reliable.”
Key clients
Key clients of the firm include Goldmans Sachs, JP Morgan, Bank of America, Barclays, Farfetch, Intermediate Capital Group, Alcentra, Ares Management and Blackstone.
Mayer Brown
International firm Mayer Brown with presences in in the US, Europe and Asia and is led by managing partner Jeremy Clay.
Highlights
The firm has a particular focus on capital markets work, achieving tier 2 status for their derivatives practice as well as a tier 3 ranking for their work in structured finance and securitisation. More widely the firm is also tier 3 for theirborrower and lender side practices as well as their practice in real estate funds.
Testimonials
Asset finance
“Knowledgeable, flexible and commercial.”
Key clients
Key clients of the firm include Fédération des caisses Desjardins du Québec, Islandsbanki, Türkiye Cumhuriyeti Ziraat Bankasi,
National Bank of Canada and Citigroup Global Markets, Banco Nacional de Mexico, Barclays Bank, BNP Paribas, HSBC and JP Morgan.
McDermott Will & Emery
McDermott Will & Emery is an international firm founded and headquartered in Chicago. It has offices in 14 locations in North America, eight offices across European countries and one office in Asia.
Highlights
Private equity as well as borrower and sponsor side bank lending work are particular strengths for the firm. The firm is also more active on M&A transactions.
Key clients
Key clients for the firm include H2 Equity Partners, Insight Partners, Kpler, Kapal Group, Madison Pacific Trust, Deutsche Bank - London Branch, HSBC, Citibank - London Branch, Bank of New York Mellon, Golub Capital, Sirius Petroleum, Wentworth Resources, GLAS Trust Corporation and TREO Asset Management.
Skadden Arps Slate Meagher & Flom
Skadden has 21 offices across the globe and has an office in London.
Highlights
Skadden has particular strength in M&A work, achieving tier 1 for this practice area. But they also have strong practices in borrower and sponsor side bank lending as well as debt side capital markets achieving tier 2 status in all these areas.
Key clients
Key clients for the firm include Luxor Capital Group, Endo Health Solutions, Rithm Capital Corp, Crosstree Partners, Adevinta, Pfizer, Castik Capital, Silver Lake Partners, Iceland Foods, Stena, Yoda, Himalaya Shipping, BlackRock and Prada.
Alston & Bird
Global firm Alston & Bird has over 800 lawyers in 13 countries, with a presence in London, Brussels and Europe.
Focusses / specialisms
The firm is involved in financial services work, banking and derivates capital markets. The firm advises on M&A matters involving joint ventures, divestitures and bank investments. Debt and high yield capital markets work are areas of specialism for the firm.
Key clients
Key clients for the firm include The Bank of New York Mellon, US Bank. Intertrust Group, Apex Group, the Federal Reserve and the Consumer Financial Protection Bureau.
Client Feedback: 32nd edition (2022/2023)
Banking and finance
“The A&B team are hand's on, reliable and incredibly hardworking. They are adept at finding solutions and are great problem solvers.”
“Commercial, well organised, efficient and focused on getting the deal done.”
Arnold & Porter
Arnold & Porter established its London office in 1997.
Focusses / specialisms
The firm is best known for its investment funds practice in the UK with a strong focus on hedge fund matters. The firm is active in financial services matters and regularly serves clients in the renewable energy sector.
Key clients
Key clients of the firm includeRepublic of Nigeria, Republic of Turkey, Republic of Kenya, Republic of Azerbaijan Curzon Funds, IPM Informed Portfolio Management, K2Q Capital, Cardean Bell, Credicorp Capital, Haven Cove SICAV, MFW - Multi Family Wealth, PrimeXtend, ShadowFall Capital & Research, Temporis Capital, York Capital Management and MacKay Shields/MacKay Shields UK.
Client Feedback: 32nd edition (2022/2023)
Investment funds
“Very quick to understand the scope of the project, working closely with us in conversations with the consulting firm advising on the restructuring. Always available to assist when needed and flexible in allocating time to us.”
M&A
“Extremely responsive, knowledgeable about the sector and the services required and very proactive.”
Ashurst
Headquartered in London, Ashurst employs over 1,600 lawyers across the globe. The firm has 30 offices across 20 countries and is present in the UK, Europe, Asia, Australia, the Middle East and North America.
Focusses / specialisms
Ashurst has a large financial and corporate team and covers work in all the key practice areas. The firm is particularly strong in banking and projects work, with specialities in energy and infrastructure.
Key clients
Key clients of the firm include Petra Diamonds, McLaren Group, Salerno Pompei, Abu Dhabi National Oil Company, Studio City Finance, Dexia Credit Local, NagaCorp, Deutsche Bank, Barclays, BNP Paribas, Citibank, Credit Suisse, Goldman Sachs, JPMorgan, Santander and Morgan Stanley.
Client Feedback: 32nd edition (2022/2023)
Financial services regulatory
“Ashurst show great commercial understanding - they understand our aims and are able to apply a complicated web of financial regulation to our fintech style proposals in a timely manner. They also show impressive understanding of the digital assets applications in the financial services industry.”
Project development : Energy
“Market leading practice, containing real experts. Proven track record, well positioned to advise on cross border projects. Strong presence in a number of countries. Provides very timely and excellent advice and are willing to go the extra mile.”
Bracewell
Bracewell has offices in London, Dubai and the United States.
Focusses / specialisms
The firm has a focus on work in the energy sector and actively serves clients on project development matters in energy, infrastructure and power. The firm is also active in bank lending on the sponsor side.
Key clients
The firm’s key clients include AES, Aramco Trading, Azura Power, BP International, Africa Oil Corporation, Amandi Energy, Beacon Offshore Energy, Black Gold Consulting, Fieldwood Energy, Independent Oil and Gas, International Petroleum, Sequa Petroleum, SierraCol Energy, Storegga Geotechnologies, Tailwind Energy and Yemen LNG Company.
Client Feedback: 32nd edition (2022/2023)
M&A
“Very commercially minded and able to grasp both the legal and commercial issues to deliver pragmatic advice.”
Project development : Energy
“They have always been attentive and responsive and have always shown knowledge of intricate details of the contractual arrangements.”
Brown Rudnick
Founded in 1948,
Brown Rudnick is an international law firm headquartered in Boston with offices across the United States and Europe. Its London office was opened in 1997.
Focusses / specialisms
The firm is known for its global restructuring and insolvency practice where it assists clients in distress across a plethora of industry sectors including oil and gas, hospitality and manufacturing.
Key clients
Some of the firm’s key clients are C&J Clark International, Amicus Finance, Mt Gox, Creditforce and Queensgate Investments.
Client Feedback: 32nd edition (2022/2023)
Insolvency
“Knowledgeable, extremely commercial and lateral thinking, responsive. Always makes me feel like their top priority. Team is my go-to with regard to any insolvency / restructuring work.”
Restructuring
“Excellent knowledge and experience. Precision analysis and solid, common-sense advice.”
Burges Salmon
Bristol based firm Burges Salmon is an independent law firm in the West of England.
Focusses / specialisms
The firm is active in private equity work, capital markets, investment funds and M&A. The firm’s sector strengths include transport, energy, hotels and food and beverage.
Key clients
Key clients of the firm include Premier Miton Group, Virgin Group, Zetland Capital, Bluefield Solar, Hermes GPE, Syntegra Capital Investors (ex Soc Gen team), Ipex Capital, Braavos Capital GP, DeaconCapital, Pygmalion Capital Advisers, QSix, Praesidium SGR, SQ Invest and Hamilton Hotel Investors.
Client Feedback: 32nd edition (2022/2023)
Financial restructuring
“Extremely proactive with emphasis on the sector knowledge. Client engagement is excellent.”
Financial services regulatory
“First rate knowledge of the FS market with efficient, practical and pragmatic advice to ensure a satisfactory outcome.”
Cadwalader Wickersham & Taft
Cadwalader Wickersham & Taft is one of New York’s oldest law firms and has a presence in London.
Focusses / specialisms
Cadwalader has a focus on financial restructuring work and is also active in the structured finance and securitisation space.
Key clients
The firm’s key clients are Hudson Executive Capital, Bow Street, Mantle Ridge, Senator Investment Group, M&G Investment Management, Elliott Management Corporation, Sachem Head Capital Management, D E Shaw & Co, Corvex Management, Pershing Square Capital Management, Soroban Capital, Mason Capital, Avis Budget Group, Avianca Airlines, Aramark and USA Technologies.
Client Feedback: 32nd edition (2022/2023)
Capital markets : Structured finance and securitisation
“Very good service and access to partners. The team is also very professional and up to speed.”
Investment funds
“Very knowledgeable and consistently steady and trustworthy application.”
Cahill Gordon & Reindel
Founded in 1919, New York based law firm Cahill Gordon & Reindel has an office in London and Washington D.C.
Focusses / specialisms
The firm has a focus on restructuring and insolvency work, and capital markets. The firm assists clients on high yield market work and represents clients in leveraged finance matters.
Key clients
The firm has working relationships with Citigroup Global Markets, Deutsche, Bank of America, iHeart Media, Credit Suisse, Morgan Stanley, Orleans Homebuilders and Falcon Investment Advisors.
Client Feedback: 32nd edition (2022/2023)
Capital markets : High yield
“Cahill represented the banks and they were very collaborative. They looked as the engagement as a team approach and worked as a partner to get the transaction done in an efficient and smooth process.”
Cooley
American international law firm Cooley set up a London office in 2015.
Focusses / specialisms
Key areas of work for the firm include equity capital markets where the firm advises on IPOs, follow-on offerings, private placements and rights issues mainly for technology and life sciences, venture capital companies and aviation.
Key clients
Key clients for the firm include
Exscientia,
WeRock, Valneva Autolus, Therapeutics, Bavarian Nordic, Bicycle Therapeutics, Immunocore, Endava, Pharming, RenalytixAI, Scancell, Silence Therapeutics, Wizz Air Holdings, Zealand Pharma, Berenberg, Cowen & Company, Jefferies Group and JP Morgan.
Crefovi
Founded in 2012 Boutique law firm Crefovi operates in London and Paris.
Focusses / specialisms
The firm is active on a mix of corporate, private equity and restructuring work having cross-border element spanning between the United Kingdom and France. The firm is focused on advising the creative industries as well as the fashion sectors.
Key clients
Some of the key clients of the firm are Luxe Dressing, furry toys, Rakuten TV Europe, Kaleidoscope, Scentsplit and Blue Sky Hospitality.
Davis Polk & Wardwell
New York firm, Davis Polk & Wardwell has a presence in London. The firm also has offices in Washington D.C., Paris, Madrid, Beijing and Tokyo.
Focusses / specialisms
Davis Polk has a strong debt practice and is also active in capital markets and the corporate space. The firm receives work from the UK and European markets but also benefits from work coming from its home base in the US.
Work various across practice areas, particularly within capital markets where the team moves between debt and equity mandates.
Key clients
Some of the firm’s key clients are NatWest Markets, Reliance Industries, Signature Aviation, CM.com, Delek Group, Ocado, eDreams ODIGEO, Credit Agricole, JP Morgan, Roche Holdings and Royalty Pharma.
Debevoise & Plimpton
Global firm Debevoise & Plimpton has offices across three continents and is present in London.
Focusses / specialisms
The firm has a focus on financial and corporate work and the firm has a strong investment management practice that includes investment work and private equity acquisitions and financings. Other areas of work include banking, investment funds and private equity work.
Key clients
Key clients for the firm include Albacore Capital, Allianz, All Seas Capital, Blue Water Energy, Boyu Capital, Development Partners International, ICG, Oaktree, Novum Capital, Pantheon, 17Capital, Deutsche Bank, Goldman Sachs, ING, Investec and SMBC.
Dechert
International firm Dechert, has more than 900 lawyers across the globe. The firm opened its London office in 1972 and now has over 160 lawyers in the London office.
Focusses / specialisms
The firm advise clients on a broad spectrum of structured finance, derivatives and securitisation transactions. It is perhaps best known in the UK for its debt capital markets and funds work, particularly work relating to sovereign debt issues. The London team is best known for its work on debt capital markets, private equity and investment funds work.
Key clients
Key clients for the firm include Fondazione Enasarco, Athene and Cheyne Capital Management (UK).
Fieldfisher
Fieldfisher has 24 offices across 11 countries. The firm has a network of offices in France, Germany, Ireland, Italy, Luxembourg, Netherlands, Spain and the UK.
Focusses / specialisms
The firm focuses on banking lending, derivatives and securitisation capital markets and retail funds work and has industry knowledge on securities lending, asset management and structured derivates work.
Key clients
Key clients for the firm include Aros Kapital, Business Lending Residential Funding 4, Fiduciam Nominees Baillie Gifford, Bank of America, Cantor Fitzgerald Europe, Citigroup, Commerzbank, Danske Bank, Deutsche Bank, Goldman Sachs, ICBC Standard Bank, Intesa Sanpaolo, Jefferies, JP Morgan, Landesbank Baden-Württemberg, Nomura International, Rokos Capital Management and Société Générale.
Client Feedback: 32nd edition (2022/2023)
Bank lending : Lender side
“They have a great team of professionals, who are really dedicated to their clients and their best interests. Always there to negotiate best terms and ensure risks are minimised.”
Capital markets : Structured finance and securitisation
“High expertise/experience in bilateral/bespoke secured debt transactions.”
Fried Frank Harris Shriver & Jacobson
Headquartered in New York City, Fried Frank established its London office in 1970. The firm now has over 500 lawyers globally.
Focusses / specialisms
In the London market, the firm is best known for its work in banking, investment funds and private equity with evident strengths in finance work along with private equity and investment funds work.
Key clients
The firm has built client working relationships with Wafra, Bank of America, Goldman Sachs, Citi, AEA Investors, American Securities, Blackstone, Citadel Investments, Goldman Sachs, Accel Partners, Balderton Capital, Cambridge Innovation Capital, Copenhagen Infrastructure Partners, Crescent Capital Partners, Greencoat Capital, Kennet Partners, Mid Europa Partners and OpCapita.
Gibson Dunn & Crutcher
Founded in Los Angeles in 1890,
Gibson Dunn & Crutcher has over 1,300 lawyers in 20 offices across the United States, the Middle East, Asia and South America. The firm’s London office has been in the market for over 30 years.
Focusses / specialisms
The firm has a focus on private equity, M&A and capital markets. The firm has US and UK capabilities in these areas, focusing on mid-market work. The firm also work on the buy and sell side of leading private equity funds for financial sponsors.
In the banking space, the firm’s focus is on advising borrowers and sponsors on acquisition financings.
Key clients
The firm regularly work with Apollo Global Management, Blackstone, Brookfield, Centerbridge, Investcorp, CITIC Capital, Lone Star and Platinum Equity.
Goodwin Procter
Founded in 1912 Goodwin Procter is multinational law firm with over 1,800 lawyers across 13 locations in the United States, Europe and Asia.
Focusses / specialisms
The firm has experience in working on corporate restructurings through court proceedings including scheme of arrangement, restructuring plans, CVAs and insolvency proceedings, out-of-court enforcements and consensual processes. The team’s advice spans across a plethora of sectors including technology, healthcare, financial services, investment fund and real estate.
Key clients
The firm’s key clients include LionRock Capital Partners, HIG, Sound United, Stellex Capital Partners, Angelo Gordon, ICG, Madison Pacific Trust, Kroll, InterPath, Global Ports Holding, EY, Hudson Advisors/LoneStar, Alvarez & Marsal, FRP, Goldman Sachs and Bridgepoint Credit.
Client Feedback: 32nd edition (2022/2023)
Financial restructuring
“Subject matter experts whilst retaining a commercial overview at all times coupled with excellent client service.”
Gowling WLG
Gowling WLG operates in the UK, the Middle East and Africa.
The firm has a key focus on project development and project finance work, and is busy across the energy, natural resources and digital infrastructure sectors.
The firm’s clients include Bacanora, Bushveld Minerals, Brockwell Energy, AMEA Power, Gas and Electricity Markets Authority, Statkraft Markets, GuarantCo, Kansai Electric Power Corporation, Co-operative Energy, Highview Power, Sumitomo Corporation, Department for Business, Energy and Industrial Strategy, Energy Storage Africa, Almar Water, Octopus Renewables Infrastructure Trust, Allied Irish Bank, Triple Point Energy Infrastructure Company, Gravis Capital, Bioenergy Infrastructure Group and Investec Bank.
Client Feedback: 31st edition (2020/2021)
"Concise and clear communication. User-friendly to access. Background knowledge of partner."
"Clear advice, commercial, cost-effective, supportive and patient."
"Excellent quality, punching above its weight and good value."
"Sector-specific knowledge. Responsive. "
"Commercial grasp of the key issues and problem-solving."
Greenberg Traurig
Greenberg Traurig was founded in 1967 and established its London office in 2009. The firm has over 80 lawyers working in the UK and globally.
Focusses / specialisms
The firm has a focus on banking, capital markets, M&A and restructuring work. Some of the firm’s industry strengths are automotive, aviation, media, real estate, entertainment and technology.
Key clients
The firm’s clients include AstraZeneca, Rentokil Initial, Smiths Group, Intercontinental Hotels Group, Cromwell European Real Estate Fund, Bracco Imaging, Vista Equity PartnersThe Bank of New York Mellon, Deutsche Bank, Global Loan Asset Services, US Bank, Invesco, TMF and Fabrix Capital.
Client Feedback: 32nd
edition (2021/2022)
Capital markets : Equity
“GT provide a pragmatic brand of advice which is both technically strong but also takes into account commercial objectives and regulatory pressures.”
King & Spalding
King & Spalding has over 1,100 lawyers across 23 offices globally. The firm is headquartered in Atlanta, but has a presence in Europe, the UK and Asia.
Focusses / specialisms
The firm has a focus on financial service regulatory work and is well known for its work in the energy and oil and gas sectors. Banking and finance, projects and M&A are also areas of activity in the London office.
Key clients
The firm’s key clients include European Investment Bank, EDF, Japan Bank for International Cooperation (JBIC), Total, Bandwidth Cloud Services, Borealis, Future Earth, Hidroelectrica de Cahora Bassa, JERA, Korea East West Corporation, Korea Electric Power Company, MODEC, Mitsui OSK Lines and Nigerian National Petroleum Corporation (NNPC).
Kirkland & Ellis
Kirkland & Ellis is an American law firm, founded in Chicago. The firm has offices across North America, Europe, the UK and Asia.
Focusses / specialisms
The firm is active in private equity, high yield capital markets, bank lending on the sponsor side, real estate funds and restructuring and insolvency. The firm specialises in advising private equity and financial sponsor clients.
Key clients
Key clients for the firm include Antin Infrastructure Partners, Blackstone, Advent International, Alteri, Altor Private Equity, Apollo, Ardian, Bain Capital, BC Partners, Carlyle, Centerbridge Cinven, EQT, GoldenTree, Hg, KKR, Lion Capital, Lone Star, Madison Dearborn Reuters, PAI Partners, Partners Group, PSP, Sun Capital, SK Capital, Strategic Value Partners, TDR Capital and Triton.
Macfarlanes
Macfarlanes is a London based law firm with lawyers working solely across the UK.
Focusses / specialisms
The firm is active in financial and corporate work, where M&A and private equity are key areas of work for the firm.
Key clients
Key clients for the firm include Aberdeen Standard Investments, Alchemy Private Equity, August Equity, Caledonia, Charme Capital, Epiris, Exponent, GHO Capital, Graphite Capital, Hayfin, JC Flowers, Keyhaven Group, OpCapita, Origin Equity Group, Silverfleet Group and Waterland Private Equity.
Client Feedback: 32nd
edition (2021/2022)
Investment funds : Private equity funds
“Their investment management group is excellent. Responsive quality advice delivered succinctly and pragmatically. They are innovative, developing expertise in ELTIFs and LTAFs and work well as a team.”
Private equity
“Experienced and stable team with strong technical capability and in-depth market knowledge.”
Milbank
Milbank has been active serving clients in London for over 40 years. The firm has over 140 lawyers across Europe, Asia and Europe.
Focusses / specialisms
The firm is very active on bank lending, capital markets, project developments and finance, private equity and M&A work. The firm’s bank lending work focuses mainly on lender and borrower sides while the capital markets team works mainly on high yield and structured finance and securitisation deals.
Key clients
Key clients for the firm include National Bank of Greece, United Group, Otto Group, OneWeb, Park Square Partners, Badin Hill and Piraeus Bank.
Client Feedback: 32nd
edition (2021/2022)
Leveraged finance
“Milbank has the best team on the street. Smart, intellectually honest, knowledgeable, deep bench, commercially savvy. A-Team for leveraged finance.”
“They are excellent and first class. Commercial advice, helpful, always available to answer questions.”
Morgan Lewis & Bockius
Morgan Lewis & Bockius operates in London and has offices across North America, Europe and Asia.
Focusses / specialisms
The firm has a focus on debt and equity capital markets, banking, financial services, M&A and project finance work.
In banking, the firm advises lenders, borrowers and debt investors on financing and restructuring matters, including syndicated lending, leveraged and investment-grade financings.
Key clients
Key clients for the firm include Avenue Capital, Bank of America, Cerberus/CHL, Citigroup, Pantheon, GSR Go Scale Capital, Abrams Capital, Ameriprise, Ares Capital, Argyle Street, Auramet, KKR, Colony, EH Global, Fidelity, Freeman Sprogli, GAM, Gores, Greenlight, GSO, Harbert, La Salle, Topaz, Metlife, OM Asset Management, PCP Far Point, Silver Pepper, SK Partners, Sound Point, TIAA-CREF, Triarii Capital and Weiss.
Client Feedback: 32nd
edition (2021/2022)
Banking and finance
“Excellent practical legal advice. Clear and concise guidance and solutions.”
M&A
“Excellent practical legal advice. Clear and concise guidance and solutions.”
Morrison & Foerster
Morrison & Foerster is an international law firm with offices across the globe, including London.
Focusses / specialisms
Strengths for the firm primarily lie in finance and capital markets and the firm has a particular specialism in advising on derivatives. The firm also advises creditors, debtors and other finance parties including banks and non-banks trustees. Other areas of work include advising distressed investors on hedge funds and private equity funds.
Key clients
Key clients of the firm include Breedon Group, TT Electronics, Corbion, Medios, Scottish Mortgage Investment Trust, Beach Point Capital Management,Bardin Hill Investment Partners, SoftBank Vision Fund, Eastlight Community Homes, City of London Investment Trust, Bellway Homes, ING Bank and PwC.
Peace Crowell
Peace Crowell is a boutique law firm with offices in London and San Diego. The firm works with clients in the Middle East, Hong Kong and the US.
Focusses / specialisms
The firm is experienced in project development and project finance. A strength of the firm’s work lies in the nuclear power sector.
Key clients
The firm primarily serves clients in the energy and nuclear power industries.
Research period review: 31st edition (2020/2021)
During the research period, the firm was busy with project development and project finance work.
In project development, the firm advised a client in the nuclear power industry in connection with upsizing a loan facility. Other work included advising on joint venture arrangements.
Deal highlights: 31st edition (2020/2021)
Barakah nuclear energy plant
Client feedback: 31st edition (2020/2021)
M&A
"Stunning resilience."
Project development
"Flawless work and perfect knowledge of the regulation."
"High-quality firm which fields excellent practitioners, focused on efficient deal execution."
"Excellent service-oriented firm which proactively manages the deal and advocates well for its clients."
Project finance
"Peace Crowell have excellent project finance capabilities and are able to address financing issues that arise in a pragmatic and sensible manner."
"They are excellent at what they do. I have unwavering trust in their work and ethics. Their prompt response to a client's needs is second to none. "
"Flawless work and amazing knowledge of the applicable regulations."
Proskauer Rose
Founded in 1875, Proskauer Rose is an international law firm headquartered in New York with over 800 lawyers serving clients from offices located in the Americas, Europe and Asia. It has an office in London out of which it advises clients in the United Kingdom.
Focusses / specialisms
The firm is very active in M&A transactions where it advises mainly on acquisitions and sales of private and public companies across financial services, technology, business services, industrials and consumer industries.
Key clients
Key clients of the firm include 7RIDGE, Accor, AnaCap Financial Partners, Auctane, Charterhouse Capital Partners, Deliveroo, Exponent Private Equity, ICG, Investcorp, Lion Capital, One Peak Partners, Pollen Street Capital, Rubicon Partners, Synova, Toscafund and Varde Partners.
Reed Smith
Reed Smith has offices across the US, Europe, Middle East and Asia.
Focusses / specialisms
Reed Smith has a focus on banking work and capital markets. The practice also has steady workstreams across a variety of other areas including M&A, funds and restructuring. Energy, mining, media and transport are particular industry strengths.
Key clients
Key clients for the firm include Santander, ANZ, Bank of America, Bank of Ireland, Barclays, BNP Paribas,Crestline Direct Finance, European Bank for Reconstruction and Development, Alpha Associates, Partners Group, Astorg, Helios Investment Partners, Chenavari, Cardinal Group, Crescent Credit, Kasada and Nova Capital.
Ropes & Gray
Ropes & Gray is a US-based law firm and set up the London in 2010 which has now become one of the largest offices in the firm’s EMEA network.
Focusses / specialisms
The firm’s strengths lie in debt capital markets, private equity and funds. The firm’s private funds team provides clients with advice on fund formation and fund transactions, including fund raising, joint ventures, co-investments, restructurings and structured secondaries.
Key clients
The firm’s key clients include 3i, Avista Capital Partners, Arsenal Capital Partners, Baring Private Equity Asia, Bridgepoint, GHO Capital, TPG Capital, Altice Europe, Altice USA, Liberty Global, Liberty Latin America and Sotheby.
Client Feedback: 32nd
edition (2021/2022)
Banking and finance
“Efficient, technically competent, willing to go the extra mile and always makes you feel like their most important client. Make sure nothing is missed.”
Leveraged finance
“Provided best market practices including competitive terms, strategic thinking and real time advice.”
Simpson Thacher & Bartlett
New York based Simpson Thacher & Bartlett has over 10 offices globally and has a presence in London.
Focusses / specialisms
The firm is active in banking where key work includes representing lenders and borrowers, the team advice under both English and U.S. law. The team also advice on transactions and products, including senior secured loans, second lien, mezzanine and other junior debt, bridge loans and high yield bonds.
Key clients
The firm’s key clients include Apax Partners, Aston Martin, BlackRock, Bank of America Merrill Lynch, The Blackstone Group, Blackstone Real Estate Partners, Bruin Sports Capital, Cinven, Cirsa Gaming, Credit Suisse, EQT, Goldman Sachs Merchant Banking Division, Intertrust and JP Morgan.
Client Feedback: 32nd
edition (2021/2022)
Financial restructuring
“They are a new team with a solid partner team with significant magic circle and US law experience - they are passionate about client service and have a reputation for excellence.”
Slaughter and May
“Magic Circle” law firm Slaughter and May was founded in 1889 and is headquartered in London. The firm has offices in Beijing, Brussels and Hong Kong.
Focusses / specialisms
The firm is active in corporate and M&A, banking and finance, debt and equity capital markets and restructuring work.
In banking and finance, the firm advises sponsors on the financing of private equity transactions.
The firm has strengths in various areas but is perhaps best known for its corporate work. In cross border deals the firm has a unique network of ‘best friend’ firms including the likes of Hengeler Mueller in Germany and Bredin Prat in France. The firm has also cultivated relationships with a handful of US firms including Cravath Swaine & Moore, Paul Weiss and Wachtell Lipton.
Key clients
In banking and finance, key clients include Athora, British Airways (IAG), Cineworld, Deutsche Bank, Varde, Palamon, Coca Cola European Partners, ASOS, Diageo, Vodafone, Rolls-Royce, States of Jersey and MarkerStudy.
In corporate and M&A, the firm works with Burberry, Diageo, DS Smith, GlaxoSmithKline, General Electric, Rolls-Royce, Royal Dutch Shell, RSA, Standard Life Aberdeen and Vodafone.
Client Feedback: 32nd
edition (2021/2022)
Capital markets : Debt
“Strong market knowledge. excellent technical expertise. Responsiveness and commerciality.”
Restructuring
“Slaughter & May are technically excellent with a very strong understanding of the law. The firm is very well resourced with good talent at all levels. They also apply the law is a very commercial and practical way.”
Sullivan & Worcester
Sullivan & Worcester opened its London office in 2013 and has been operating for over 25 years.
Banking is a key area of specialism for the firm, specifically on the lender side. The firm is active in trade and export finance. Primary areas of work include legal advice on trade, export and commodity finance transactions. Other areas of work include M&A work, pre-export financings and work in the energy sector.
The London office’s primary focus is its market-leading trade and export finance practice and is the premium provider of legal advice in relation to trade, export and commodity finance transactions to major trade finance banks and other financial institutions, funds, corporate borrowers, agents and trustees, and national and international organisations.
Travers Smith
Corporate law firm Travers Smith is based in London.
Focusses / specialisms
The firm focuses on work in the financial and corporate space. The firm advises on M&A, equity capital private equity funds and financial services regulatory work.
In capital markets, the firm advises financial institutions on IPOs and on block trades and tender offers. Work comes from the technology, fintech and retail sectors.
Key clients
The firm has client relationships with Goldman Sachs, JP Morgan, Barclays Bank, Deutsche Bank, HSBC Bank, the British Steel Pension Fund, Nomura, Investec Bank, Varde Partners, The National Employment Savings Trusts (NEST), Rothesay Life, Shawbrook Bank, Pay.UK, Numis Securities Limited, Investec, Canaccord and Peel Hunt.
Client Feedback: 32nd
edition (2021/2022)
Capital markets : Derivatives
“Extremely responsive, thoughtful and engaging.”
Financial services regulatory
“They are responsive and cost effective. Team has detailed knowledge of relevant regulations.”
Trinity International
Boutique law firm Trinity International was founded in 2006 and is based in London.
Focusses / specialisms
The firm focuses on project finance, project development and banking work. The firm has a niche area of practice and advises clients on infrastructure transactions in emerging markets.
Industry sectors the firm receives work from include oil and gas, transport and infrastructure, mining, telecoms, thermal power and renewable energy.
Key clients
The firm has working relationships with Standard Bank of South Africa, Meridiam, Rand Merchant Bank, African Development Bank, DEG, Proparco, FMO, Africa Finance Corporation, Globeleq, Copperbelt Energy Corporation, Azura Power, Endeavor Energy, ENGIE, Voltalia, Scatec Solar Africa REN, Qair International, Renewable Energy Performance Platform, Facility for Energy Inclusion and AP Moller Capital.
Watson Farley & Williams
Watson Farley & Williams was founded in London in 1982 and over 500 lawyers in 15 offices.
Focusses / specialisms
Watson Farley & Williams is well known for its work in the aviation, energy and shipping sectors acting on capital markets work.
Key clients
Key clients of the firm include 88 Energy, Tower Resources, Coro Energy, Advance Energy, TORM, Aminex and Chesterfield Resources.
Weil Gotshal & Manges
American law firm Weil Gotshal & Manges is headquartered in New York and has one office in London.
Focusses / specialisms
Strengths for the London office include M&A, private equity, investment funds, banking and capital markets. The London office works mainly on all sides of banking including borrower, lender and sponsor.
The firm’s capital markets team is active in equity, derivatives, structured finance and securitisation and high yield work.
In investment funds, the firm is visible in private equity and real estate funds. The firm is also seen active in restructuring and insolvency work.
Key clients
Key clients for the firm include Advent International, Bain Capital, Stirling Square Capital, TowerBrook Capital Partners, Paprec, The Very Group, Morgan Stanley, Goldman Sachs, Highland Gold Mining, Sanofi, Eli Lilly, Kantar, Cobham, HM Government, Nissin and InPost.
Client Feedback: 32nd
edition (2021/2022)
Investment funds : Private equity funds
“They are very responsive with always excellent quality of work. They understand the business issues and are very good at providing commercial solutions.”
Private equity
“Weil are incredibly commercial and responsive. The team is very good to work with, always meets its deadlines and takes a pragmatic and sensible approach to resolving issues. They provide invaluable guidance and support through the fund-raising process.”
Willkie Farr & Gallagher
Founded in 1888,
Willkie Farr & Gallagher is an international law firm with 13 offices located in key business centres across six countries in the world. The firm has an office in London.
Focusses / specialisms
The firm is active in advising on banking, capital markets, private equity and investment funds work. The firm is seen advising on the sponsor side of banking deals while debt and derivatives are its major strengths for capital markets work. In investment funds, the firm advises mainly on private equity funds.
Client Feedback: 32nd
edition (2021/2022)
Investment funds : Private equity funds
“Excellent service; Very responsive and timely on deliverables; Good industry knowledge and experience.”
Winston & Strawn
Winston & Strawn has a London office and operates across Europe, Asia and North America.
Focusses / specialisms
Key areas of work for the London practice includes private equity, finance, and M&A. The firm represent financial sponsors and advise on finance transactions, restructurings and public to private transactions.
Key clients
The firm’s key clients include Alpha Private Equity Funds Management, Argand Partners, Atlas Holdings, Capdesia Group, Graphite Capital, Industrial Opportunity Partners, Kartesia Management and Upper90 Capital.
Client Feedback: 32nd
edition (2021/2022)
Private equity
“High degree of technical ability, creative problem solving and structuring, depth of experience, prompt delivery, competitive fees.”
“Collegiate and responsive, able to identify key issues and deliver advice in a timely and user-friendly manner.”
