Index of tables
Equity capital markets: UK capability
Akin Gump Strauss Hauer & Feld
- Debevoise & Plimpton LLP
- DLA Piper UK LLP
Davis Polk & Wardwell LLP
- Edward Bibko - Baker & McKenzie LLP
- Peter Brien - Slaughter and May
- Richard Brown - Latham & Watkins LLP
- Adrian Cartwright - Clifford Chance
- Mark Dighero - Allen & Overy LLP
- Francis Fitzherbert-Brockholes - White & Case LLP
- Christopher Haynes - Herbert Smith LLP
James Healy -
Skadden, Arps, Slate, Meagher & Flom (UK) LLP
- Nicholas Holmes - Ashurst
- Chris Horton - Simmons & Simmons LLP
- Charles Howarth - Herbert Smith LLP
- Charles Jacobs - Linklaters LLP
- Tim Jones - Freshfields Bruckhaus Deringer LLP
- John Lane - Linklaters LLP
- James Palmer - Herbert Smith LLP
- Jonathan Parry - Ashurst
- Will Pearce - Herbert Smith LLP
- Stephen Revell - Freshfields Bruckhaus Deringer LLP
- Mark Lloyd Williams - Norton Rose LLP
Simon Witty -
Davis Polk & Wardwell LLP
Clifford Chance is highlighted for its pre-eminence in high-profile transactions, with a team led by London managing partner David Bickerton. Adrian Cartwright is ‘very experienced in emerging markets’, and recently advised underwriters on the $10bn Glencore IPO, as well as assisting Nomos Bank on its $700m IPO, the largest London IPO of a Russian company. Iain Hunter advised DP World on its Premium London listing. Simon Thomas is a ‘“go-to” partner for UK work’.
Freshfields Bruckhaus Deringer LLP has a ‘fantastic ECM practice’ – ‘one of the best’. With ‘great knowledge’, Steven Revell is ‘the standout star, hands-on and very user friendly’. Tim Jones advised JP Morgan Cazenove as sponsor and bookrunner on a £466m rights issue by DS Smith plc to fund a £1.6bn acquisition; Julian Makin represented Vallares plc on its IPO; and Mark Austin assisted Lamprell plc on a $225m rights issue.
‘Top-notch’ firm Herbert Smith LLP has an ‘extremely strong partner bench and very talented associates’. Recommended names include Greg Mulley, who is ‘very able, with great knowledge and experience’; James Palmer; ‘rising star’ Will Pearce, who is ‘responsive, proactive and helpful’; Christopher Haynes, who recently advised sponsors including Goldman Sachs on a €475m sell-down by Aviva; and Charles Howarth, who led the advice to sponsors including Credit Suisse on Bank of Ireland’s €1.9bn rights issue.
Linklaters LLP has ‘excellent partner and associate experience’. John Lane’s equities group includes Charles Jacobs, who advised Glencore on its $10bn IPO, the largest ever in the UK. Lane led on the £1.35bn Vallares IPO for bookrunners including Credit Suisse. The team is noted for its breadth and depth, and includes Ben Dulieu, who has ‘excellent product knowledge and commercial understanding’; and rising star David Avery-Gee, who represented Evraz on its $9bn share offer and listing.
Mark Dighero’s team at Allen & Overy LLP provides ‘a very good, integrated, cross-border product’. Dighero advised DS Smith on its £466m rights issue and Ophir Energy on its £375m IPO. Louise Wolfson (a ‘very attentive, astute adviser’) advised Allied Gold on its move to the LSE main market. David Broadley acted as underwriter counsel on the €1.3bn IPO of Jastrzebska Spólka Weglowa. Jim Wickenden joined from Herbert Smith LLP.
Ashurst has ‘lawyers as good as you find in Magic Circle firms’. Nicholas Holmes is ‘first class, both technically and from a relationship perspective’, and led on Salamander Energy’s $212m rights issue for underwriters including Goldman Sachs. Also recommended are Jonathan Parry and David Page, who advised on Electric & General Investment Trust’s reconstruction; Michael Robins, who represented Rockhopper Exploration in a £206m cash placing; and Nick Williamson, who excels in oil and gas deals.
With a predominantly issuer practice, Slaughter and May advised Prada on its $2.14bn IPO in Hong Kong, and Aviva on its £381m sale of shares in Delta Lloyd through a bookbuilding exercise. It increasingly also acts for banks, and recently advised Barclays Capital on Pendragon’s £75m rights issue. John Papanichola, Simon Nicholls and Richard Smith are recommended, as are David Johnson and the newly promoted Adam Eastell, who advised on the demerger and listing of Spirit Pub Company. Peter Brien’s move to the Hong Kong office means Nilufer von Bismarck now leads the equity capital markets team.
Edward Bibko at Baker & McKenzie LLP leads ‘an excellent, client-friendly practice, strong in emerging markets’, with partners highlighted for their ‘local knowledge and strong communication skills – they are the best for client relationship management’. Roy Pearce advised Bank of Georgia on its redomiciling to the UK and admission to the LSE Official List. Adam Farlow advised Nyrstar on a €490m rights offering.
Much sought after by emerging markets companies listing in London, Cleary Gottlieb Steen & Hamilton LLP has ‘a gold-plated reputation for execution’. Raj Panasar advised GeoProMining on preparations for its LSE IPO, and Goldman Sachs as underwriter on Nyrstar’s €500m rights issue. Simon Ovenden advised VTB Bank on its $3.3bn offering of shares and GDRs.
Norton Rose LLP has strength in the energy and natural resources sectors, and is noted for its work for growth companies. Deals included Julian Stanier acting for Cyfrowy Polsat on a £306m block trade; Raj Karia acting for Allied Gold on a £464m triple listing; and Glenn Hall advising Zambeef on its London listing. Mark Lloyd Williams, Simon FT Cox, Richard Sheen and Nick Adams are also recommended.
Skadden, Arps, Slate, Meagher & Flom (UK) LLP’s practice is ‘very high quality, especially in emerging markets’. James Healy represented Williams Invest Holdings on the €250m IPO of Williams Grand Prix, and Banco Comercial Português on a €1.25bn capital increase. Danny Tricot advised Ros Agro on a $330m issue of GDRs. Pranav Trivedi is also recommended.
Philip Broke’s team at White & Case LLP is ‘very responsive and knowledgeable’. Greg Stonefield has ‘very good knowledge of emerging markets’, and recently advised Migros Ticaret on a £275m private placement. Francis Fitzherbert-Brockholes exemplifies the firm’s ‘excellent technical and structuring capabilities’. Allan Taylor advised Ruspetro on its $250m IPO.
Hogan Lovells International LLP’s Maegen Morrison leads a team that includes the ‘very experienced’ Nigel Read and dual-qualified John Basnage. The practice, which has a cross-border focus advising investment banks such as Citigroup, advised RBC Capital Markets as sponsor of Petra Diamond's £560m main market listing.
Latham & Watkins LLP hired the ‘highly experienced’ Richard Brown from Hogan Lovells International LLP, where he advised Coal of Africa on its £66.3m share placement. Newly promoted partner David Boles advised the underwriters on the $2.4bn IPO of ISS on Nasdaq OMX Copenhagen. Scandinavia specialist Lene Malthasen is highly recommended.
Shearman & Sterling LLP has ‘a long history of credible ECM execution’, and ‘top partners with excellent industry knowledge’. Monica McConville is ‘one of the leading practitioners in the market’. Laurence Levy advised African Barrack Gold on its secondary listing in Tanzania.
Simmons & Simmons LLP is highlighted for its ‘reasonable fees, excellent advice and high-quality, partner-led support’. Chris Horton is ‘very hands-on and practical, a leading lawyer’, and is advising underwriters including Deutsche Bank on a large emerging markets IPO. With Edward Baker and Colin Bole (who is ‘very hardworking, and never loses his enthusiasm’), Horton advised Rothschild as sponsor on the £208m reverse takeover and main market readmission of Wichford plc.
Sullivan & Cromwell LLP is ‘very experienced and supportive, and the partners are directly involved’. Vanessa Blackmore is ‘commercial and proactive, and works hard’. She advised JP Morgan and VTB Capital on Mail.ru Group’s $450m bookbuild offer, and Pershing Square on the £900m IPO of Justice Holdings.
Weil, Gotshal & Manges is ‘a very strong firm’. James Cole (a ‘tough negotiator, and very commercial’) is advising Citi and Société Générale on the IPO of Romanian state utility Hidroelectrica. Also recommended are David Meredith, who is representing state asset holding company Fondul Proprietera on its London listing; Peter King; and James Cousins, a ‘technically excellent senior associate with a pragmatic approach’.
An issuer practice with many clients in Russia and the CIS, particularly in the oil and gas sector, Akin Gump Strauss Hauer & Feld has Sebastian Rice and newly promoted partner Harry Keegan, who advised VimpelCom on the demerger and splitting of GDRs of subsidiary Orascom Telecom.
With a strong emerging markets practice, Debevoise & Plimpton LLP’s team includes James Scoville, who advised Uralkali on its listing of GDRs following its merger with Silvinit; and dual-qualified Katherine Ashton, who represented selling shareholder HarbourVest Partners in Transmode Holding’s NASDAQ OMX Stockholm listing.
Tim Jeveons at Greenberg Traurig Maher LLP led the advice to cash shell Justice Holdings on its £900m IPO, while Andrew Caunt led on the $855m readmission to the LSE of APR Energy Cayman.
Mayer Brown International LLP has ‘a strong, commercial team available 24/7’. Recommended figures include Robert Hamill, an ‘outstanding communicator, calm and unflappable’, who advised Genel Energy on the reverse takeover of Vallares plc; Kate Ball-Dodd, who represented Numis as underwriter on a placing by JJB Sports; and William Charnley.
Berwin Leighton Paisner LLP’s team is led by David Collins, and is noted for its ‘collaborative approach’. Benjamin Lee advised Duet Real Estate Finance on the main market IPO of its feeder fund, while Alex Latner represented Playtech on a £100m share offer.
CMS Cameron McKenna LLP’s highly rated Gary Green is ‘calm and pragmatic, and works hard to get the job done’. He advised Hunting plc on placing £85m of new shares. Charles Currier’s clients include National Grid and Pendragon.
Covington & Burling LLP’s team includes Paul Claydon, Natalie Diep, James Gubbins and James Halstead, following their move from Morrison & Foerster (UK) LLP. The firm advised on Vernalis plc’s £68.5m placing.
Alex Tamlyn’s team at DLA Piper UK LLP includes John Hayes, who advised Better Capital on its £170m conversion to a protected cell company and subsequent issue of shares. Charles Severs advised Chemring Group on a £112m secondary placing.
Davis Polk & Wardwell LLP is building its UK ECM capability around Simon Witty from Freshfields Bruckhaus Deringer LLP – for some, ‘the leading ECM lawyer in London’.