United States > Finance > Capital markets: equity offerings > Law firm and leading lawyer rankings
Index of tables
- Capital markets: equity offerings - advice to issuers
- Capital markets: equity offerings - advice to managers
- Leading lawyers
Capital markets: equity offerings - advice to issuers
Cleary Gottlieb Steen & Hamilton LLP
Davis Polk & Wardwell LLP
- Latham & Watkins LLP
Simpson Thacher & Bartlett LLP
Skadden, Arps, Slate, Meagher & Flom LLP
- Cravath, Swaine & Moore LLP
- Debevoise & Plimpton LLP
- Fried, Frank, Harris, Shriver & Jacobson LLP
- Gibson, Dunn & Crutcher LLP
- Hogan Lovells US LLP
- Kirkland & Ellis LLP
- Paul Hastings LLP
- Paul, Weiss, Rifkind, Wharton & Garrison LLP
- Shearman & Sterling LLP
- Sidley Austin LLP
- Sullivan & Cromwell LLP
- Weil, Gotshal & Manges LLP
Capital markets: equity offerings - advice to managers
Alan Beller -
Cleary Gottlieb Steen & Hamilton LLP
Joshua Ford Bonnie -
Simpson Thacher & Bartlett LLP
- Robert Buckholz - Sullivan & Cromwell LLP
- William Fogg - Cravath, Swaine & Moore LLP
David Goldschmidt -
Skadden, Arps, Slate, Meagher & Flom LLP
- Marc Jaffe - Latham & Watkins LLP
Michael Kaplan -
Davis Polk & Wardwell LLP
- Joshua Korff - Kirkland & Ellis LLP
Leslie Silverman -
Cleary Gottlieb Steen & Hamilton LLP
Richard Truesdell -
Davis Polk & Wardwell LLP
- Alan Beller -
Cleary Gottlieb Steen & Hamilton LLP’s New York-based group advised on numerous precedent-setting capital markets deals throughout 2015, including Actavis’ $9bn financing of its high-profile acquisition of Allergan, a major deal in the healthcare and pharmaceutical space. The transaction was handled by Jeffrey Karpf, who, together with Craig Brod, also acted for underwriters Citigroup and Goldman Sachs on the $3.7bn secondary public offering of American International Group. Leslie Silverman also led a number of deals for a group of underwriters, including Morgan Stanley, RBS Securities, Goldman Sachs and JPMorgan, advising on the secondary public offerings of RBS subsidiaries totaling $9bn. Other notable capital markets experts include David Lopez, who assisted a group of underwriters with the $1.4bn secondary public offering of common stock in IMS Health Holdings; Duane McLaughlin, who acted for New Media in its $150m follow-on offering; and senior counsel Alan Beller.
Cravath, Swaine & Moore LLP’s ‘well-connected’ group provides ‘a truly outstanding level of service’, and is particularly noted for its strength on the manager side of transactions. LizabethAnn Eisen advised a group of underwriters led by Goldman Sachs, Jeffries and Credit Suisse on the $270m IPO of Amplify Snack Brands, while Craig Arcella acted for Citigroup, Goldman Sachs and Deutsche Bank in the $1.1bn IPO and $2.3bn secondary stock offering by Axalta Coating Systems. On the issuer side, corporate head William Fogg handled Evolent Health’s $225m IPO, and also advised CyrusOne on two registered offerings of common stock totaling $833m. Other recommended individuals include William Whelan and Andrew Pitts, who ‘are very responsive, able to call on a broad range of partners with particular industry expertise, and provide reliable advice on new SEC and FINRA rules’. All named partners are based in New York.
Davis Polk & Wardwell LLP has notable experience in cross-border transactions, particularly regarding Latin America. The group has also acted for issuers across Canada and Europe, and has represented US issuers with securities listed on foreign exchanges. Richard Truesdell and Byron Rooney advised the lead deal managers on GE’s offer to exchange up to 705 million shares in Synchrony Financial for outstanding shares of GE common stock, in a deal totaling $2.6bn. Menlo Park-based Bruce Dallas also acted for Masco Corporation and its subsidiary, TopBuild, on Masco’s $1bn spin-off of TopBuild. Other key highlights included assisting the joint book-running managers with GoDaddy’s $520m IPO, and advising the underwriters on the IPOs of Virtu Financial, Summit Materials and Etsy. Michael Kaplan co-heads the global capital markets group, acting for both issuers and underwriters across various sectors, including technology, telecoms and consumer products. All named partners are based in New York, except where otherwise stated.
Latham & Watkins LLP is particularly noted for its strength in the life sciences space, but has also received high-profile mandates in the telecoms, technology and consumer retail sectors. Silicon Valley-based Patrick Pohlen and Brian Cuneo advised biopharmaceutical company Aimmune Therapeutics on its $183m IPO, with Bank of America Merrill Lynch, Credit Suisse and Piper Jaffray acting as underwriters. In the Washington DC office, Patrick Shannon and Jason Licht acted for Axalta Coating Systems on a number of matters, including its $1.1bn IPO, a $1.2bn follow-on public offering, and a $560m private placement. Marc Jaffe co-chairs the global capital markets practice in New York, where Kirk Davenport and the recently promoted Nathan Ajiashvili are also key figures.
Simpson Thacher & Bartlett LLP couples ‘an impressive level of experience, industry knowledge and business acumen’ with a ‘deep bench’ that ‘ensures the timely and accurate completion of each transaction’. Joseph Kaufman, who ‘is extraordinarily responsive to clients’ demands, and always ensures a smooth path to completion’, is a key figure, as are distinguished IPO lawyer Joshua Bonnie and Richard Fenyes, who acts for clients such as TransUnion, Goldman Sachs and Blackstone. Notable highlights included acting for First Data in its $2.5bn NYSE-listed IPO, and assisting Performance Food Group, a portfolio company of The Blackstone Group, with its $317m IPO. The firm also acted for JPMorgan, Merrill Lynch, Jefferies and Credit Suisse as underwriters in the IPO of 15 million shares in Planet Fitness. Arthur Robinson heads the New York-based team.
Skadden, Arps, Slate, Meagher & Flom LLP successfully leverages its impressive reputation in the corporate sphere to act in a broad range of issuer and underwriter-side matters in the equity capital markets space. Key individual David Goldschmidt advised popular dating site Match.com on its IPO, while Gregory Fernicola acted for Citigroup in a number of preferred stock transactions totaling $6.3bn. Other leading figures include counsel Phyllis Korff, who, along with Goldschmidt, recently advised the underwriters in a number of debt and equity transactions for Brixmor Property group. Michael Zeidel and Laura Kaufmann Belkhayat are also key names to note. The firm has strong presences in New York, where Stacy Kanter heads the group, and Los Angeles.
Based in New York, Sullivan & Cromwell LLP’s team continues to attract high-value mandates across a wide range of sectors, and has recently handled matters for companies in the automotive, pharmaceutical and financial services industries. A cross-practice group led by Palo Alto-based John Savva advised Valeant Pharmaceuticals on its $1.5bn offering of common shares as part of its $15.8bn acquisition of Salix Pharmaceuticals. Other key highlights included Robert Downes assisting Citigroup and JPMorgan with the $674m IPO of Newmont Mining, and acting for Ferrari and Fiat Chrysler regarding Ferrari’s $9.8bn IPO, part of its separation from its parent company. Scott Miller led the latter transaction, with Davis Wang handling the tax-related aspects of the deal. BNY Mellon, Goldman Sachs and NorthStar Realty Finance are also clients. Leading figure Robert Buckholz is another name to note.
Debevoise & Plimpton LLP’s client roster includes a wide range of corporate issuers, private equity firms, financial institutions and underwriters, and the group handled numerous IPOs, tender offers and follow-on transactions throughout 2015. Peter Loughran advised Envision Healthcare on a series of secondary offerings of common stock totaling $3.4bn, and also acted for Tribune Media in a $519m secondary offering along with a $480m spin-off and public listing on the NYSE of Tribune Publishing Company. Global capital markets co-head Matthew Kaplan is also recommended, as is Steven Slutzky, who recently assisted HD Supply with a series of secondary offerings totaling $3.6bn. All named attorneys are based in New York.
Fried, Frank, Harris, Shriver & Jacobson LLP’s ‘responsive’ team ‘never fails to deliver the best resources at the right time’, and the group ‘knows the subject matter law very well, consistently factoring in the client’s circumstances and business goals when providing legal advice’. Areas of strength include acquisition finance for private equity sponsors and investment banks, and the firm is retained by clients such as AEA Investors, Goldman Sachs, Onex and Merrill Lynch. Daniel Bursky and Stuart Gelfond head the New York-based group, which recently acted for JPMorgan and Morgan Stanley in Shake Shack’s $121m IPO, handling all aspects of the deal and advising on various securities law issues. Joshua Coleman and Joshua Wechsler advised Media General on the $125m secondary offering by Standard General Communications. Andrew Barkan and the recently promoted Mark Hayek are also recommended.
Gibson, Dunn & Crutcher LLP continues to be highly active in the technology space, while also maintaining a strong client base in the financial, healthcare and retail sectors. Andrew Fabens acted for Capital One Financial Corporation in a number of debt and equity transactions totaling $7.5bn, including two $500m perpetual preferred stock offerings, and the group also advised The Rubicon Project on its $100m IPO. Stewart McDowell led the latter transaction out of California, from where Peter Wardle also advised Continental Building Product on several secondary common stock offerings totaling $331m. Robyn Zolman is the key contact in the Denver office, acting for Atmos Energy and The Williams Companies among others. Additional key clients of the firm include Intel, T-Mobile and General Electric.
Hogan Lovells US LLP stands out for its regulatory expertise, having developed a strong client base within heavily regulated fields such as the pharmaceuticals, aerospace, energy and medical devices. The group acts primarily for issuers, but has also attracted strong underwriter-side work over 2015; key partner Stuart Barr acted for Merrill Lynch and Morgan Stanley on the $2.6bn IPO of Paramount Group, and also advised Wells Fargo Securities and Citigroup on Extra Space Storage’s $416m offering of common stock. Other key highlights included assisting The Advisory Board Company with a $232m shelf takedown of common stock, advising TESARO on a $180m public share offering, and acting for Anthem on a $1.3bn transaction consisting of notes and equity forward contracts. Other leading figures in the group, which is headed by David Bonser in Washington DC, include Michael Silver and Amy Bowerman Freed in New York and Laura Berezin in Silicon Valley.
Kirkland & Ellis LLP’s cross-office team, which has a strong presence in New York and Chicago, handled a broad mix of issuer and underwriter-side work over the course of 2015. Richard Aftanas acted as underwriter’s counsel to Morgan Stanley in AES Corporation’s $784m public offering, while Christian Nagler and David Curtiss advised Deutsche Bank and Cantor Fitzgerald in Quinpario Acquisition Corp. 2’s $350m IPO by way of a sale of 35 million units, with each unit consisting of one share of common stock and a warrant to purchase another one-half of a share of common stock. On the issuer side, Joshua Korff acted for Burlington Stores in three equity offerings totaling $1.7bn, and Chicago-based Dennis Myers handled TerraForm Global’s $675m IPO. Other key clients of the firm include Golden Gate Capital, Charter Communications and Burger King. Alexander Fine is the key contact in Washington DC.
Paul Hastings LLP recruited capital markets lawyer Cathleen McLaughlin from Allen & Overy LLP in March 2015. McLaughlin brings strong expertise in cross-border securities transactions, most notably within the Latin America region. Other key figures include William Schwitter, who chairs the firm’s leveraged finance practice, and Michael Fitzgerald, who has been highly active in the Latin American market and has a strong track record in Mexico-related matters. John Cobb and Yariv Katz recently acted as underwriter’s counsel to Barclays Capital on a secondary offering of common stock by certain stockholders of Mattress Firm Holding Corp. San Francisco-based Thomas Pollock represented BioMarin Pharmaceutical in its $912m public offering of 9.7 million shares of common stock. Gislar Donnenberg is a key figure in the Houston office and San Diego-based Teri O’Brien is also recommended.
Paul, Weiss, Rifkind, Wharton & Garrison LLP’s ‘strong equity-side practice’ acted for Virtu Financial on its $336m IPO, handled Spectrum Brands Holdings’ $563m secondary offering of common shares, and advised Morgan Stanley, Credit Suisse and RBC as underwriters in the $150m IPO of Shopify. The group’s industry expertise spans a range of sectors including energy, telecoms, apparel and leisure, and the firm has notable experience advising both domestic and cross-border clients. John Kennedy is recommended as ‘a great lawyer with a solid grasp of the rules’. Gregory Ezring, Monica Thurmond and Lawrence Wee are also key figures in the New York office. Apollo Global Management, Citigroup and Ralph Lauren are other notable clients.
Shearman & Sterling LLP handles deals across a wide range of sectors, including technology, healthcare, financial services and media, and is highly active in cross-border transactions, particularly involving Latin America. Merritt Johnson recently acted as underwriters’ counsel to Morgan Stanley and JPMorgan on an $804m secondary offering of common stock by Catalent. Other highlights included advising Goldman Sachs, Barclays and Morgan Stanley on a $600m follow-on offering of Zayo Group Holdings shares, and assisting Merrill Lynch and Piper Jaffray on Entellus Medical’s $95m IPO; counsel James Scott handled the latter transaction. Other key individuals include Robert Evans, Menlo Park-based Christopher Forrester and David Beveridge, who heads the practice. All named attorneys are based in New York except where otherwise stated.
Sidley Austin LLP’s New York-based group is ‘very responsive’ and ‘always there for the client’, providing ‘great expertise and sound judgment’ to issuers and underwriters involved in IPOs, privatizations, secondary offerings and at-the-market equity offerings. Vijay Sekhon recently joined the firm’s Los Angeles office from Klee, Tuchin, Bogdanoff & Stern LLP, while Martin Wellington joined in Palo Alto from Davis Polk & Wardwell LLP. Other key figures include Edward Petrosky, who advised Wells Fargo Securities as initial purchaser in Land O’Lake’s $200m private placement; Palo Alto-based Sam Zucker, who handled Dicerna Pharmaceuticals’ $49m follow-on offering; and Craig Chapman and James O’Connor, who together acted for Merrill Lynch and Deutsche Bank on Great Western Bancorp’s two stock offerings. Other key clients of the firm include eBay, Western Union and Health Care REIT (now Welltower).
Weil, Gotshal & Manges LLP’s capital markets practice head Alexander Lynch recently assisted Black Knight Financial Services, an integrated technology, data and analytics provider, with its $507m IPO, highlighting the firm’s expertise in technology deals. Additionally, the group has strong life sciences capabilities; Heather Emmel acted for biopharmaceutical and medical device company INC Research in its $173m IPO, and also handled Lantheus Holdings’ $74m flotation. On the underwriter side, the firm acted for Barclays, JPMorgan, RBC and SunTrust Robinson Humphrey in the $489m offering of interests in Macquarie Infrastructure Company. Jennifer Bensch, Corey Chivers and David Lefkowitz are also recommended. Frank Adams joined the firm from Greenberg Traurig, LLP in 2015.
Baker Botts L.L.P. has notable strength in the energy sector, leveraging its ‘great capital markets practice for upstream oil and gas clients’. David Kirkland and Kelly Rose head the team out of Houston, from where Kirkland recently advised the underwriters, led by Credit Suisse, on the $815m public offering of shares in Newfield Exploration Company. Joshua Davidson and Austin-based Mollie Duckworth assisted Tallgrass Energy with its $1.3bn IPO, and Davison, along with Hillary Holmes, also acted for underwriters Citigroup and Barclays on Columbia Pipeline Partners’ $1.2bn IPO. Gerald Spedale and Dallas-based Douglass Rayburn, who has ‘a solid reputation and great technical skills’, are other names to note.
Cahill Gordon & Reindel LLP maintains a strong underwriter client base, and continues to be highly active in bank-side equity transactions. Key figures William Hartnett and Helene Banks advised a group of underwriters, including Citigroup, Merrill Lynch, Barclays and UBS Investment Bank, in the $340m IPO of Fortress Transportation and Infrastructure. In another highlight, Douglas Horowitz acted for JPMorgan, Merrill Lynch and Citigroup in the $750m offering of shares in Frontier Communications, a deal conducted as part of the company’s acquisition of Verizon’s wireline business. Other leading attorneys in the New York-based team include Marc Lashbrook, John Tripodoro and Jonathan Schaffzin.
Covington & Burling LLP has a strong track record in advising life sciences clients on their capital-raising activities, drawing on the experience of its securities, FDA regulatory, IP and tax attorneys. Practice chair Donald Murray acted for Jefferies, Credit Suisse and Cowen and Company on the $188m follow-on offering of common stock in Kite Pharma, while vice-chair Eric Blanchard advised Jefferies, Citigroup and Piper Jaffray on the $140m IPO by Bellicum Pharmaceuticals. Blanchard also assisted Jefferies, as well as Cowen and Company, with NeuroDerm’s IPO. The group is based in the firm’s New York office, which recently saw the arrival of counsel Christopher DeCresce from investment banking firm Sandler, O’Neill & Partners LP.
Dechert LLP handles a broad mix of issuer and underwriter-side equity deals, with notable experience in the life sciences sector and in permanent capital vehicles. The firm has also advised on numerous cross-border matters, acting on deals across Europe, Asia and Latin America. David Rosenthal is advising Citigroup and Jefferies on the $86m cross-border IPO of American depositary shares in Advanced Accelerator Applications, a French radiopharmaceutical company; and Philadelphia-based James Lebovitz is assisting FS Investment Corporation IV with its continuous public offering of shares totaling $2.7bn. Boston-based Thomas Friedmann is also a leading figure, having recently advised Eagle Point Credit Company on its $103m IPO of common stock. Additional key clients include Goldman Sachs, Edge Therapeutics and Golub Capital.
Fenwick & West LLP’s Silicon Valley-based team is ‘particularly adept at representing technology companies’, and the group has ‘very high technical acumen, and all the relevant transactional experience’. Boise-based Robert Freedman is ‘an outstanding securities attorney, who has good relationships with the regulators’; Jeffrey Vetter co-heads the practice in California; and Horace Nash is recommended for his ‘extensive experience in equity offerings and pragmatic approach’. The firm handled numerous high-value IPOs over 2015; highlights included acting as issuer’s counsel to LendingClub in its $1bn IPO, and advising Fitbit, a maker of wearable health-tracking devices, on its $732m IPO.
Goodwin Procter LLP has deep benches of securities attorneys on both the east and west coasts, and continues to be highly active in targeted industries, namely technology, REITs, life sciences and financial services. Gilbert Menna is a key figure in Boston, and recently acted for Goldman Sachs in Alarm.com’s $98m IPO. Silicon Valley-based Rezwan Pavri and Richard Kline acted for Morgan Stanley, handling the underwriter-side issues in Fitbit’s $732m IPO, and Kline and Anthony McCusker also advised Morgan Stanley in relation to Box’s $201m IPO. Ettore Santucci heads the practice from Boston. New York-based Edwin O’Connor is also recommended.
Milbank, Tweed, Hadley & McCloy LLP acts primarily for underwriters and private issuers in complex, high-stakes securities offerings, and the group has notable expertise in the transportation, energy, power and infrastructure sectors. Global securities partner Rod Miller and Paul Denaro acted for a number of underwriters, including Credit Suisse, HSBC Securities and Barclays Capital Canada in Brookfield Infrastructure Partners’ $600m IPO. Miller also assisted Goldman Sachs with an acquisition finance transaction, a matter involving the refinancing of Neovia Logistics’ $75m revolving credit agreement. Brett Nadritch and David Kuo, who joined from Allen & Overy’s Hong Kong office, are the other key contacts. Merrill Lynch, the Government of Canada, LightSquared and RBC Capital Markets are also key clients.
Morrison & Foerster LLP’s strong IP practice gives the capital markets group notable capabilities in the life sciences, medical device and biotech fields, with the team also attracting a number of impressive mandates in the REIT space. In Washington DC, Justin Salon assisted Sandler O’Neill & Partners and SunTrust Robinson Humphrey with Community Healthcare Trust’s $144m IPO of common stock, while in San Francisco, Brandon Parris and Andrew Winden acted for Elevate Credit in its IPO of shares, which is expected to raise upwards of $100m. New York-based Anna Pinedo advised Raymond James & Associates as sole underwriter in C1 Financial’s $22m offering of common stock, and, along with Edward Welch, was also retained by a number of underwriters, including Merrill Lynch, UBS Securities and Morgan Stanley, on Capital One Financial’s $500m offering of depository shares. Other key clients include Citigroup, Equity Residential and AutoZone.
In the San Francisco office, O’Melveny & Myers LLP’s Eric Sibbitt and Kurt Berney acted for the joint book-runners and co-managers, including Morgan Stanley, Citigroup and Allen & Company, in Lending Club’s $1bn IPO, the largest IPO of a California company in 2014. New York-based Daniel O’Shea acted for Goldman Sachs and Deutsche Bank Securities in SolarEdge Technologies’ $145m IPO, and, alongside Michael Schiavone and Washington DC-based Robert Plesnarski, he also advised MHR Find Management in connection with the sale, via an underwritten public offering, of common shares in Lions Gate Entertainment. Schiavone and Brophy Christensen head the group from New York and San Francisco respectively.
Proskauer Rose LLP is ‘a strong player in the equity capital markets space, particularly in the IPO market’, according to a source. The New York-based team is ‘highly client focused’ and has ‘a deep, practical knowledge base’. Practice co-head Frank Lopez ‘has his finger on the pulse of the market’, and is ‘a terrific group leader’; Philippa Bond is ‘a rising star on the West Coast, who brings investment banking experience to bear when executing transactions’; co-head Julie Allen has strong experience in initial public offerings and follow-on equity transactions; and New York-based Robin Feiner is ‘terrific with clients’. The firm recently acted for joint book-running managers Credit Suisse, Citigroup, JPMorgan and Raymond James in WCI Communities’ $85m secondary offering, and is assisting Neiman Marcus Group with its proposed IPO of common stock. Jefferies, NovoCure and Ascena Retail Group are also key clients.
Vinson & Elkins LLP is particularly noted for its strength in the energy space, and has also been highly active in the transport, telecoms, real estate and technology sectors. David Oelman and Alan Beck are key figures; they recently represented Plains All American Pipelines in three securities offerings with a combined transactional value of $3bn, including a $1bn equity offering. James Prince acted for the underwriters to Baytex Energy Group in two securities offerings totaling $1.8bn, including an equity offering valued at $632m. On the issuer side, Mark Kelly handled Anadarko Petroleum’s $400m public offering of tangible equity units. Keith Fullenweider, who co-heads the firm’s M&A and capital markets practice, is the other leading practitioner. All named lawyers are based in Houston.
White & Case LLP has a strong client base of corporations and major financial institutions, and in 2015 it handled a broad range of domestic and cross-border capital-raising transactions, as well as compliance-related matters. Equity partners Colin Diamond and Daniel Nam advised a group of major investment banks, including Barclays, Credit Suisse and Deutsche Bank, on the provision of $3.9bn worth of debt and equity financing to SS&C Technologies, the proceeds of which related to its acquisition of Advent Software. Diamond also acted for a number of underwriters, including Barclays Capital and Oppenheimer & Co, in Foamix Pharmaceuticals’ $69m public offering. John Vetterli and Sao Paulo-based Donald Baker are also recommended; they recently handled a major equity offering in the aviation sector. All named attorneys are based in New York except where otherwise stated.
Andrews Kurth LLP ‘demonstrates unquestionable integrity’ and ‘provides a very high level of service and expertise’, making it ‘highly trusted as a close adviser’. Practice heads Michael O’Leary and David Buck have significant experience acting for issuers and underwriters in IPOs, as well as in other public and private equity offerings. O’Leary and Stephanie Conklin Beauvais advised Green Plains Partners on its $173m IPO. Other highlights included assisting the underwriters with Energy Partners’ $275m IPO, and advising the underwriters, including FBR Capital Markets and Stifel Nicolaus, on the $90m IPO of Peak Resorts. Carmelo Gordian and Edward Gilman led the latter transaction from the Austin office, while the former was led by Jon Daly and Washington DC-based William Cooper. All other attorneys are based in Houston.
Bracewell LLP’s Houston-based team has significant strength in the energy sector, acting for a number of prominent energy companies as issuers in high-value capital markets transactions. Charles Still recently assisted Energy & Exploration Partners with its proposed $400m IPO, and is currently acting for an upstream MLP in a pending public offering. Additionally, William Anderson and Jason Jean advised Allegiance Bancshares, the parent bank holding company of Allegiance Bank, on its $55m IPO of common shares, while Troy Harder acted for Kinder Morgan in its SEC-registered offering of depository shares, a transaction totaling $1.6bn. Emily Leitch is the other key figure, handling equity transactions for a range of issuers and underwriters.
Clifford Chance’s ‘highly professional team’ offers ‘innovative solutions’, and ‘always identifies the key challenges of the transaction early in the process’. The group is highly active in the REIT space, and advised on numerous high-profile matters in 2015. Jay Bernstein and Andrew Epstein have ‘a broad background of experience as well as strong contacts within the industry’, and recently advised National Storage Affiliates on its $278m IPO. Clifford Cone advised the underwriters, led by Wells Fargo Securities, on the $580m IPO of Tekla World Healthcare Fund, and Alex Camacho acted for Merrill Lynch, Piper Jaffray, Deutsche Bank and Stifel Financial on Tandem Diabetes Care’s $69m follow-on offering of common stock. JPMorgan, GTECH and LATAM Airlines are also notable clients.
Cooley LLP’s California-based group advises issuers, investment banks and investors on a range of equity transactions within both the public and private capital markets. The firm, whose expertise in the technology and life sciences sectors is particularly noteworthy, acts for a mix of start-ups and major companies. David Peinsipp, Eric Jensen and Andrew Williamson advised a syndicate of underwriters, including Goldman Sachs, Morgan Stanley and Merrill Lynch, on Zendesk’s $233m follow-on offering; Boston-based Nicole Brookshire acted for cybersecurity company Rapid7 in its $103m IPO; and the team also advised Horizon Pharma on four major debt and equity offerings, including two follow-on offerings totaling $660m. San Diego-based Charlie Kim is also a key figure, and is regularly retained by clients such as Wells Fargo Securities, Morgan Stanley and Jefferies.
DLA Piper LLP (US) has strong expertise in the technology space, and particularly in relation to the internet, e-commerce and software development. The group, which provides ‘great value for money’ to its wide-ranging client base, has also recently handled equity transactions relating to medical devices, REITs and animal health. ‘Practical and dedicated attorney’ Christopher Paci, singled out for his ‘outstanding knowledge of capital markets regulations’, recently advised Globant on a number of equity offerings totaling $228m, including an IPO and two follow-on offerings. Other highlights included assisting Q2 Holdings, a provider of virtual banking solutions, with its $110m public follow-on offering. The deal was handled by Texas-based John Gilluly, who splits his time between Austin and Dallas. Peter Astiz and Curtis Mo are the key contacts in Silicon Valley, and Los Angeles-based Ann Lawrence is also recommended.
Jones Day’s capital markets practice continues to receive transactional work from issuers and managers, as well as advising clients on various SEC and corporate governance issues. Cleveland-based Michael Solecki and Chicago-based Edward Winslow assisted Citigroup and KeyBanc Capital Markets with the IPO of Apartment Investment and Management Company, a matter totaling $370m. The group also advised Jefferies as lead underwriter on the $231m IPO of AMAG Pharmaceuticals, a company focusing on maternal health, anemia and cancer supportive care. Kimberly Pustulka, who recently acted for A. Schulman in its $110m public offering, is the other key contact in Cleveland.
Mayer Brown is noted for its strength in the financial services sector, handling equity transactions on both the issuer and manager side. Michael Hermsen handled Prologis’ $750m at-the-market equity offering program; Edward Best acted for BMO Capital Markets group as book-running manager in Fenix Parts’ IPO of 14 million shares; and Palo Alto-based Jennifer Carlson advised Morgan Stanley and Credit Suisse on Workiva’s $101m IPO. Other key figures include Lawrence Hamilton, who represented Duff & Phelps Global Utility Income Fund in its $100m issuance of preferred shares, and Houston-based Dallas Parker, who acted for Bonanza Creek Energy in its $203m shares. Emerald Oil and Jefferies are also key clients.
Morgan, Lewis & Bockius LLP offers ‘an excellent mix of industry knowledge coupled with strong capital markets experience’. The group’s notable cross-border capabilities were strengthened with the arrival of three attorneys in the Singapore office. In recent highlights, Howard Kenny acted for Sprout Farmers Market in a trade of common stock valued at $550m, while Steve Farrell and Finnbarr Murphy advised an underwriting syndicate including Deutsche Bank, Citigroup and JPMorgan on the $229m IPO of Euronav, a Belgian shipping company. Additional new arrivals include Laurie Cerveny and Julio Vega in the Boston office, who both joined the firm following its 2014 merger with Bingham McCutchen.
Orrick, Herrington & Sutcliffe LLP strengthened its presence in the technology sector in 2015, collaborating with its technology company practice to develop a strong IPO pipeline, and advising clients on a broad range of corporate governance issues. Christopher Austin divides his time between New York and Silicon Valley, handling IPOs and follow-on offerings in the technology and life sciences sectors, and San Francisco-based Karen Dempsey acts for a range of public and private companies, venture capital firms and investment banks on various equity transactions. Highlights included acting for a group of underwriters, including Morgan Stanley, Merrill Lynch and JPMorgan, on OnDeck Capital’s $230m IPO, and advising Ooma on its $65m IPO. Peter Lamb and Brian Margolis are the key contacts in Silicon Valley and New York respectively.
Ropes & Gray LLP represents corporate issuers, major investment banks and private equity firms in all aspects of capital markets transactions, particularly when it comes to handling follow-on offerings and private placements. David Fine assists with various equity and investment deals; he recently advised Planet Fitness on its $216m IPO, backed by private equity sponsor TSG Partners. Julie Jones and San Francisco-based Thomas Holden are also key figures; they recently acted for supply retailer Party City in its $372m IPO. Other notable clients include The Habit Restaurants, IMS Health and Petco Holdings. Patrick O’Brien and Paul Kinsella head the practice from Boston, where the team is based.
Sutherland Asbill & Brennan LLP’s ‘extremely responsive and thoughtful’ group has ‘an unprecedented level of access to key regulatory bodies’ and ‘responds not only to the questions, but also to the needs of the client’s business’. Practice head Steven Boehm regularly works with business development companies, acting on a range of financing and regulatory issues surrounding equity offerings in this space. Cynthia Krus advises companies and alternative investment funds on raising capital, while Harry Pangas acts for issuers and investment banks in public and private equity offerings. Highlights included handling Griffin-Benefit Street Partners BDC’s $1.5bn IPO, and advising Alcentra Capital Corporation on all aspects of its $111m IPO. Credit Suisse Park View BDC and Newtek Business Services are both new clients.
WilmerHale is particularly strong in the life sciences sector, and practice head Brian Johnson has acted for a broad range of healthcare companies in their equity capital-raising activities. Other key figures include Steven Singer, who assisted Bellerophon Therapeutics with its $60m IPO, and Joshua Fox, who acted for Massachusetts-based technology company ConforMIS in its $166m IPO of common stock. In the Boston office, Mark Borden and David Westenberg advised the underwriters, led by Morgan Stanley and JPMorgan, in the $167m IPO of HubSpot, an inbound marketing and sales software company. Erika Robinson is the key figure in the Washington DC office, focusing on various capital markets transactions and commercial finance matters.