Capabilities

Private Credit & Special Situations Investing

Helping clients move the market and maximize value.

Our Private Credit & Special Situations group consists of over 100 finance and restructuring attorneys with deep experience representing private and public credit and debt funds, BDCs, special situations, opportunistic, distressed and dislocation funds, fulcrum lenders, equity-holders, hedge funds, CLOS and financial institutions through varied market cycles. We help our clients limit downside risk and create uncorrelated returns.

We are commercial, innovative and, above all, solution oriented. Partnering with our clients, we always take a forward-looking approach to market terms, monitoring industry trends to identify opportunities and anticipate rather than react. We offer clients our market insights and knowledge based on our multidisciplinary expertise, proprietary database, and strong industry relationships, including investors, capital providers, and other key stakeholders with whom we work with on a daily basis. We are in constant and open dialogue with the market. It’s a flow of information that enables our clients to develop creative structures that drive change.

We take a multidisciplinary approach to developing custom solutions. Our ability to bring multiple perspectives allows us to deliver value to clients across the full the lifecycle of a deal, from leveraging our network in deal origination, to due diligence, structuring and, ultimately, deal review/approval through periods of distress and potentially workouts, restructurings and refinancings. Our fully integrated approach to deals allows us to keep our clients informed and educated about developments in the law that impact their businesses.

Leveraged Finance & High Yield
We leverage our knowledge and experience to provide credit funds and non-bank lenders with comprehensive, solutions-focused service with respect to their investment opportunities, including:

  • direct lending (first lien secured loans, unitranche products, and ABL/FILO tranches and unsecured loans)
  • junior capital (second lien and mezzanine loans/notes, private high-yield placements, holdco pik loans/notes, or preferred or convertible equity investments)
  • credit opportunities and special situation financings
  • bespoke products that satisfy credit fund sensitivities
  • new money primary issuance, including custom indenture products
  • Loans, High Yield and Investment Grade Bonds
  • CLO Investing
  • Stressed / Distressed Debt
  • Refinancings and Dividend Recapitalizations
  • Venture debt

Strategic Creditor Representations
We structure and implement innovative and value-accretive restructuring solutions across a broad spectrum of transactions. From initial group formation stage through transaction completion, we are involved in every aspect of formulating, negotiating, and effectuating a restructuring. We represent lenders and lender groups in in-court and out-of-court financial and operational restructurings and work-outs, including:

  • balance sheet refinancings and/or providing capital solutions to stressed credits (including structured debt-equity investing, equity co-investments, and preferred stock)
  • exit and rescue financings
  • representing the interests of the equitized lenders as company counsel post-restructuring
  • 363 sale and plan sponsor transactions

Company & Sponsor Engagements
We represent companies and sponsors across industries in liability management transactions designed to address operational and balance sheet issues. Working in tandem with top-tier financial advisory firms, turnaround experts, and other practice groups in the firm, our advice is uniquely tailored to best address specific challenges our clients face.

We counsel companies and sponsors through liability management to ensure there is a process in place to maximize protection for the company’s directors and officers.

We have a successful track record of advising strategic and financial buyers and sellers of distressed assets and/or equity in transactions both in- and out-of-court; and have expertise in loan-to-own debt deals under section 363, chapter 11 plans, and hybrid restructuring transactions.

Range of Disciplines
Leveraging a diversity of experience among top tier finance, restructuring, capital markets, private equity and regulatory lawyers, we advise clients on each of the key components needed for any credit representation. We provide a seamless delivery of multidisciplinary services across practice areas, including Real Estate, Private Equity, Capital Markets, Mergers & Acquisitions, Healthcare, Energy, and Litigation teams to provide experienced counsel to our clients across all public and private sectors.

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Ranked in Commercial Lending


Legal 500 2019

Received U.S. Nationwide Ranking in Banking & Finance


Chambers USA 2019

Tier 1 for Banking & Finance in "Best Law Firms"


U.S. News & World Report 2018

Lawyer Received "Up & Coming" Recognition


Chambers UK 2016

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Recognition

Ranked in Commercial Lending


Legal 500 2019

Received U.S. Nationwide Ranking in Banking & Finance


Chambers USA 2019

Tier 1 for Banking & Finance in "Best Law Firms"


U.S. News & World Report 2018

Lawyer Received "Up & Coming" Recognition


Chambers UK 2016