Banking & Finance: Sponsors | UK

Kirkland & Ellis houses a standout bench of market-leading sponsor-side specialists who are able to provide advice on the full gamut of European and US financing products. The team is active across the spectrum of mid-market to large-cap deals, acting on behalf of both domestic and international private equity clients. It is identified for its deft handling of bank and bond-financed LBOs and refinancings and ably assists clients with distressed matters spanning portfolio acquisitions and rescue financings. Its recent standout matters include cross-border P2P financings as well as preferred-equity structures. The law firm additionally offers a strong fund finance practice catering to investment fund clients.

Latham & Watkins is a highly sophisticated banking practice that is considered a first port of call by leading institutional lenders and sponsors for multi-jurisdictional transactions requiring the implementation of cutting-edge financial products. The team continues to represent debt funds on deals in the European leveraged finance market and is well equipped to advise on margin loan financings, bespoke finance solutions such as PIK loans, term loan B facilities and hybrid investments. The team also has notable expertise handling public-to-private deals.

Simpson Thacher & Bartlett is a market-leading practice and go-to team for leveraged finance and refinancing transactions for sponsors. The team has a wealth of expertise advising on work spanning senior secured loans, bridge loans and high-yield bonds. Its premier team is able to handle US financial instruments and also boasts the ability to advise on fund finance transactions. The team remains a popular choice for global private equity clients and their portfolio companies.

Allen & Overy is widely viewed as one of the leading banking practices in London with standout expertise in syndicated lending - a space in which it advises high-profile corporate borrowers and traditional lenders on prominent, often multi-jurisdictional, financing transactions. In addition to its work for banks, the team advises a growing number of debt funds on direct lending mandates. The department is also highly regarded as a leader in the leveraged finance market, offering sterling advice to high-profile asset managers.

Clifford Chance has a significant finance practice, which is sought out by high-calibre corporates, financial institutions and private equity sponsors in the leveraged and investment-grade markets. The team is well positioned to advise on the full range of financial instruments, from European covenant-lite structures to term loan B facilities. The department is additionally noted for its ability to advise lenders in EMEA on high-value transactions and has recently been particularly active in the infrastructure space. The team has long-established experts in the fund finance space, where it advises both sponsors and lenders.

Freshfields Bruckhaus Deringer is a market-leading practice containing a team of finance experts that acts for high-profile corporates and private equity houses. The team is well positioned to advise on cross-border leveraged finance transactions and is regularly instructed on acquisition and take-private financings, refinancing and repricing matters. It is highly experienced in sustainability-linked loan transactions.

Linklaters exhibits extensive capabilities acting for banks, funds, corporates and sponsors. The team advises on domestic and cross-border matters and demonstrates strength on a wide range of financings, including term loans, bridges and revolving credit facilities and cov-lite loans. Linklaters is able to draw on the firm's significant derivatives, debt capital markets and securitisation capabilities when advising on margin loans and bank/bond combinations. The team has a growing presence in the alternative credit provider space.

Weil, Gotshal & Manges has a notable leveraged finance practice that is active on major matters for leading private equity firms and traditional lenders, with a growing presence in the direct lending space. It is well positioned to advise on the full range of financial instruments including US products, securing its position as a sought-after adviser in the LBO market. The team draws on the firm's global full-service platform to provide a seamless service on cross-border and multidisciplinary issues.

Ropes & Gray has an exceptional team of highly skilled practitioners advising on complex financings for borrowers and sponsors. The team regularly works for investment banks and private equity funds. It continues to be a strong presence in the European leveraged finance market due to its acute understanding of high-yield issues and masterful handling of UK and US hybrid transactions. The firm is particularly noted for its strength in acquisition financing and unitranche matters. It is also recognised for lender-side work acting for both institutional and alternative lender clients in the mid-market space.

White & Case has a solid banking and finance practice with a strong foothold in the private equity space, strengthened by the law firm's cross-border capabilities. The team works regularly with borrowers on complex financings in addition to maintaining strong relationships with major banks. It demonstrates standout strength advising on deals in emerging markets. The team is highly regarded for both its UK and US law capabilities and advisory work for alternative capital providers in matters spanning the credit market. It has notable expertise advising on combined bank/bond issues.

Ashurst has a well-established team of banking experts that assists both lenders and borrowers on a full range of mid-market financings. The team is also known for its work in the credit funds space as well as for its relationships with leading sponsors. It works across the spectrum of leveraged finance deals, with established expertise in unitranche structures and term loan B facilities. The team additionally offers notable expertise in fund finance as well as Islamic finance matters.

Debevoise & Plimpton is a well-regarded finance practice noted for its expertise in acquisition and fund financing matters, demonstrating particular sector expertise in private equity. It regularly acts for a range of international sponsors while complementing its practice with prominent UK corporate borrowers. The department has additional expertise advising on bond financings and financial restructurings.

"The team's depth and breadth were very strong. While the work was led by select partners, the next layer of resources at Goodwin was highly skilled at supporting and leading a wide range of deal issues."

Macfarlanes has notable strengths in handling complex and bespoke mid-market deals for lenders, sponsors and their portfolio companies as well as corporate borrowers. The practice spans the full scope of financing matters from corporate to leveraged and fund finance, complementing its offering with real estate and litigation finance as well as regulatory and restructuring expertise. Macfarlanes is equipped to advise on domestic and cross-border matters, with additional experience advising on the English law aspects of high-yield bonds. The team have also established a strong foothold in the credit fund space.

Skadden is a global firm with the capacity to handle substantive cross-border work for major sponsors and big-ticket borrowers. The team counts an impressive list of private equity houses among its client base. It works on matters involving high-yield products, in addition to tackling complex transactions in the real estate sector. The team has a strong track record on both leveraged and investment-grade financings, and also excels in handling distressed acquisitions and refinancings.

Travers Smith has a deep pool of specialist finance advisers who work with sponsors, lenders and corporate borrowers on mid-market matters. The team has specialist knowledge in the area of fund finance, corporate loans and leveraged acquisition finance. It demonstrates broad sector expertise, continuing to advise on deals in the media, leisure and technology industries, in addition to the retail and infrastructure sectors, among others. The firm handles matters for an impressive client list that includes several high-profile private equity houses and international financial institutions.

Willkie Farr & Gallagher has a sophisticated offering boasting strong transatlantic and European capabilities. It is a go-to shop for private equity sponsors as well as their portfolios, often acting on acquisition financings. The team is able to advise across the space on matters ranging from recapitalisations to take-privates. The firm also has the wider ability to act for corporate borrowers and alternative lenders.