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Paul Hastings Amplifies Financial Law Dominance with Elite Team Acquisition

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Lauren Miller

June 3, 2024 - 12:25 pm

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Paul Hastings Welcomes Top-Tier Restructuring and Global Finance Teams

In a noteworthy expansion of its leading industry position, Paul Hastings LLP has made a definitive move by welcoming a group of eminent restructuring, private credit, and special situations attorneys to its ranks. The team's integration into the firm spans several key urban centers, including New York, Chicago, Houston, and Washington D.C., as announced on June 3, 2024.

The prestigious team, formerly part of King & Spalding LLP, consists of notable figures such as Jennifer Daly, Roger Schwartz, Matthew Warren, Christopher Boies, Zachary Cochran, Peter Montoni, Geoffrey King, Lindsey Henrikson, and Robert Nussbaum. These lawyers have solidified their reputations across diverse segments of financial law, delivering a wealth of expertise in restructuring and global finance arenas.

The team's significant leap to Paul Hastings introduces a diversified depth of experience to the already robust framework of the firm. Daly and Schwartz, along with Boies, Montoni, and Nussbaum will operate from New York. Warren is slated to contribute his expertise between Chicago—joined by King and Henrikson—and Houston. Meanwhile, Cochran will be serving the firm in Washington, D.C., and New York. Highlighting the caliber of their professional trajectory, Schwartz and Warren bring previous experience as restructuring partners from Latham & Watkins LLP.

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Across varied market conditions, the group garners extensive in-house experience, boasting an impressive clientele that ranges from private credit funds, business development companies (BDCs), and banks to financial institutions and CLOs. Their adeptness in complex financial challenges underscores a record of delivering strategic value to clients immediately upon engagement.

The chairman of Paul Hastings, Frank Lopez, articulated the firm's enthusiasm regarding the reinforcement of its distinguished restructuring and finance platforms. The tactical alliance with the incoming group is set to amplify their already formidable practices, enhancing the firm's market dominance and facilitating greater market share at the apex of the financial industry. Frank Lopez Profile

Additionally, Kris Hansen, co-chair of the firm's global financial restructuring group, underscored how the strategic incorporation of this sophisticated interdisciplinary team enhances the capabilities and client base of the financial restructuring group, while further consolidating their status as a leading powerhouse on the global stage. Kris Hansen Profile

Daly, who brings a Chambers-ranked recognition in Banking & Finance, has been the lead counsel for various financial entities, including private credit and opportunistic funds, BDCs, hedge funds, and investment advisors. Her counsel spans a broad spectrum of financial transactions, and her background includes pivotal roles at Bank of America, Merrill Lynch, and Avenue Capital, topped with her experience as COO and CCO at Hunter Peak Investments.

The team's sentiments echo their anticipation in joining the firm. Jennifer Daly expressed eagerness to integrate their unique blend of experience with Paul Hastings' elite practices, solidifying the sentiment that the firm's innovative drive was a pivotal factor in their move.

Roger Schwartz brings his vast experience in representing corporations, direct lenders, buyers, and investors across a range of restructuring and special situations, from Chapter 11 cases and out-of-court restructurings to distressed transactions. His past service at GE Capital as senior counsel of workouts bears testament to his adept problem-solving skills in high-pressure situations.

Focusing on distressed debt and insolvency, Warren offers strategic advice on a host of restructuring matters including Chapter 11 proceedings and cross-border bankruptcies, while Boies utilizes his proficiency to counsel across the full spectrum of financing transactions.

Cochran harnesses his acumen in capital markets transactions, having contributed to offerings of a diversified range of securities. His role as a senior corporate counsel at an AI software company illustrates his fluid adaptation to the intersection of technology and finance.

Henrikson, King, Montoni, and Nussbaum all contribute their litigation expertise to the firm, focusing on an array of niche areas within restructuring and special situations, further solidifying the comprehensive nature of the team's capabilities.

This significant expansion is one of many strategic enhancements that Paul Hastings has undertaken to bolster its restructuring practice. The firm has also realized an influx of preeminent talent including a venerated 18-partner financial restructuring group from Stroock & Stroock & Lavan LLP, and the introduction of David Hong from Kirkland & Ellis LLP in New York. In Europe, the firm welcomed partners Will Needham, Helena Potts, and Tom McKay from KKR and Shearman & Sterling, as well as Caroline Texier from DLA Piper in Paris. 18-partner group David Hong Will Needham, Helena Potts, Tom McKay Caroline Texier

The firm's restructuring practice received distinguished recognition at M&A Advisor's 2024 Turnaround Awards, winning three "Deal of the Year" accolades and being commended for five "Successful Restructurings of 2023" by Turnarounds & Workouts. Their impressive track record includes representation in the FTX and WeWork Inc. Chapter 11 proceedings and notable advisement in multimillion-dollar restructuring cases such as those of PREIT and Travelport. Deal of the Year accolades Successful Restructurings of 2023 FTX WeWork Inc PREIT

Complementing its restructuring accomplishments, Paul Hastings has secured leading talents in leveraged finance and private credit, offering advisory services to premier investment banks and direct lenders globally. Recent team incorporations span a Band 1 finance team in Texas, a high-profile three-partner finance group from Cahill Gordon & Reindel LLP, powerhouse New York finance partners Morgan Bale and Stephen Gruendel, alongside London's Patrick Bright and a Band 1 high-yield team from Latham & Watkins LLP. Band 1 finance team in Texas three-partner finance group from Cahill Gordon & Reindel LLP Morgan Bale Stephen Gruendel Patrick Bright and a Band 1 high-yield team

In the year 2024 alone, the firm has played an advisory role in landmark financial undertakings such as the $6.9 billion Take-Private of Squarespace, Thoma Bravo's $5.3 Billion Acquisition of Darktrace, and KKR's multimillion-dollar investments in Cotiviti. Their expertise extends to advising the lead arrangers on refinancing deals, notably the $1.465 billion refinancing of Wood Mackenzie's credit facilities, and providing guidance to financing sources in pivotal acquisitions like the Partners Group's procurement of The Rosen Group.

Recognition for their expertise has also come from the Private Debt Investor (PDI) Global Awards and the IFLR Europe Awards 2024, where Paul Hastings earned the "Americas Law Firm of the Year – Transactions" and "Team of the Year: Loans" awards, respectively, evidence of their unwavering commitment to excellence in the legal field. Americas Law Firm of the Year – Transactions "Team of the Year: Loans"

Unwavering Commitment to Global Excellence

Paul Hastings exemplifies unwavering commitment to the highest echelons of legal practice with its elite teams knowledgeable in finance, mergers & acquisitions, private equity, and a multitudinal array of legal specializations. The firm's global outreach and dedication have successfully established it as a cornerstone of legal expertise for influential investment banks, asset managers, and corporate entities worldwide.

For further insights into Paul Hastings' scope of work and its extensive services, visit their official website: www.paulhastings.com.

In conclusion, with its strategic growth and recruitment of first-rate talent, Paul Hastings LLP fortifies its position as a juggernaut in the realms of restructuring and global finance. The firm's commitment to its clients and the legal community ensures a continued trajectory of unparalleled service and industry leadership.

SOURCE: Paul Hastings LLP

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