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Ropes & Gray LLP

5 NEW STREET SQUARE, LONDON, EC4A 3BF, ENGLAND
Tel:
Work 0203 122 1100
Fax:
Fax 0203 122 1101
Email:
Web:
www.ropesgray.com
Boston, Central Hong Kong, Chicago, East Palo Alto, London EC4A, London EC4M and 6 more

London: Corporate and commercial

Corporate tax
Corporate tax - ranked: tier 5

Ropes & Gray LLP

Corporate and private equity tax expert Brenda Coleman leads the group at Ropes & Gray LLP, which excels in transactional tax for clients with operations in the UK and across the EU. Private equity, fund formation, real estate, banking and finance remain core competencies for the department.

Practice head(s):Brenda Coleman

Other key lawyers:Andrew Howard

Leading individuals

Brenda Coleman - Ropes & Gray LLP

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EU and competition
EU and competition - ranked: tier 7

Ropes & Gray LLP

The London-based competition department at Ropes & Gray LLP assists clients with a wide range of competition law issues at multiple levels: the European Commission; the Competition and Markets Authority; UK authorities responsible for the regulated industries; as well as the UK High Court. Team members' sector-specific expertise include healthcare, technology, financial services, and private equity. The group advised Medtronic on the CMA review of its preferred partnership with Animas Corporation, among other matters. Practice head Ruchit Patel is recommended and stands out for his experience handling cross-border matters.

Practice head(s):Ruchit Patel

Key Clients

Medtronic

Work highlights

  • Advised Medtronic on the CMA review of its preferred partnership with Animas Corporation.

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Private equity: transactions ‚Äď high-value deals (¬£250m+)
Private equity: transactions ‚Äď high-value deals (¬£250m+) - ranked: tier 4

Ropes & Gray LLP

In addition to a steady stream of buyout work on both the buy and sell side, the private equity practice group at Ropes & Gray LLP in London  also handles co-investment and minority investment transactions. The firm was instructed for the first time by new client Duke Street on its £100m acquisition of railway holiday company Great Rail Journeys from ECI, with practice head Philip Sanderson and John Newton taking the lead. Helen Croke, who focuses on representing PE houses across the full spectrum of mid-cap and high-value deals, is highly recommended. In a particularly high-profile mandate, Croke led the team advising Intermediate Capital Group on its £1.3bn joint partnership investment into IRIS. This was the largest ever UK PE software buyout. London co-managing partner Will Rosen is another name to note.

Practice head(s):Phil Sanderson

Other key lawyers:Will Rosen; Helen Croke

Key Clients

Intermediate Capital Group

Nordic Capital

Ensono

Ocean Outdoor

Epiris

Duke Street

Welsh, Carson, Anderson & Stowe

Altamont Capital Partners

Kohlberg & Co LLC

Bain Capital

TPG Capital

Ares Management

Genstar Capital

Cathelco Limited

Reed & Mackay

Baring Private Equity Asia

BigHand Limited

Avenue Capital Group

Thomas International

GHO Capital

Work highlights

  • Advised Intermediate Capital Group on its £1.3bn joint partnership investment – alongside HG Saturn Fund – into IRIS.
  • Advised Ensono, a leading hybrid IT services provider based in the US and Europe, on its acquisition from Wipro Limited, one of the world’s leading IT consulting companies.
  • Acted for management of Ocean Outdoor on its sale to Lloyds Development Capital.
  • Advised Duke Street Capital on its acquisition of Great Rail Journeys.
Leading individuals

Helen Croke - Ropes & Gray LLP

Phil Sanderson - Ropes & Gray LLP

Will Rosen - Ropes & Gray LLP

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London: Crime, fraud and licensing

Fraud: white-collar crime
Fraud: white-collar crime - ranked: tier 3

Ropes & Gray LLP

Ropes & Gray LLP advises on white-collar crime, fraud, corruption, and regulatory and criminal investigations nationally and internationally. Client sectors include financial services, private equity, healthcare, life sciences, and energy and natural resources. In 2018, the highly regarded Judith Seddon joined from Clifford Chance and now co-heads the team; she is experienced in representing individuals in investigations. Amanda Raad, who also co-heads the team, is experienced in handling cross-border cases, and cases of financial fraud and money laundering. Rosemarie Paul  joined as a partner from Akin Gump.

Practice head(s):Judith Seddon

Other key lawyers:Amanda Raad; Matthew Burn

Leading individuals

Judith Seddon - Ropes & Gray LLP

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 4

Ropes & Gray LLP

Traditionally best-known for its advice to private equity sponsors, Ropes & Gray LLP continues to strengthen its lender-side credentials with a number of recent hires, including the arrival in 2018 of Carol Van der Vorst from Goldman Sachs. Van der Vorst also enhances the team's English law credentials, providing the London group with an increasingly compelling offering which  can advise across products (including New York-governed high yield and UK-governed debt) and geographies. Global finance co-head Michael Kazakevich and London co-managing partner Mike Goetz are key members of the team.

Practice head(s):Michael Kazakevich

Other key lawyers:Mike Goetz; Malcolm Hitching; Carol Van der Vorst; Alex Robb; Alexandru Mocanu

Testimonials

The team has a very good window on the latest developments and changes in the market.

The lawyers are responsive, creative and solutions-oriented.

They have a good mix of very experienced senior people and mid-level practitioners who are capable and very responsive.

 

Key Clients

Altice

MV Credit

Cable & Wireless

Partners Group

Telenet

Epiris

Bridgepoint Advisers

Oaktree

Duke Street Capital

Virgin Media

Work highlights

  • Advising Bain Capital Credit and ICG on Study Group acquisition financing.
  • Advised MV Credit on the second lien financing provided to Itiviti to refinance existing indebtedness and support the acquisition of Ullink.
  • Advised BigHand (a Bridgepoint portfolio company) on its leveraged financing and acquisition of DW Reporting.
  • Advised Duke Street Capital on the financing to facilitate its acquisition of Great Rail Journeys.
  • Advised Epiris, the UK based private equity group on a series of acquisitions, including The Club Company, the UK’s leading country club operator.
Leading individuals

Mike Goetz - Ropes & Gray LLP

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Bank lending: investment grade debt and syndicated loans
Bank lending: investment grade debt and syndicated loans - ranked: tier 4

Ropes & Gray LLP

Able to structure deals implementing UK and US-governed debt products, the 'responsive, creative and solutions-oriented' three-partner team at Ropes & Gray LLP is particularly accomplished at handling big-ticket financings for multinationals in the TMT space, including Liberty Global and Altice. The team has also developed a particular expertise in advising on financings in the regulated travel sector.

Practice head(s):Michael Kazakevich

Other key lawyers:Mike Goetz; Malcolm Hitching; Carol Van der Vorst; Alex Robb; Alexandru Mocanu

Key Clients

Altice

MV Credit

Cable & Wireless

Partners Group

Telenet

Epiris

Bridgepoint Advisers

Oaktree

Duke Street Capital

Virgin Media

Work highlights

  • Advised MV Credit on a number of large cap financing matters, including on the second lien financing provided to Itiviti to refinance existing indebtedness and support the acquisition of Ullink.
  • Advising long-standing client, Liberty Global, on numerous English law loan financing matters, including in connection with the acquisition financing and working capital line for its acquisition of Coolmath, a US content business, and on the sale of European assets to Vodafone Group.
  • Represented VTR Group in connection with the refinancing of existing credit facilities.

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Corporate restructuring & insolvency
Corporate restructuring & insolvency - ranked: tier 8

Ropes & Gray LLP

Weakened by the recent loss of certain partners, Ropes & Gray LLP's restructuring team is now led by counsel Daniel Andrews, following his relocation to London from the firm's Hong Kong office in September 2018. Despite an absence of partner-level restructuring practitioners, Andrews has assistance from associates, as well as practitioners from the wider banking and corporate/M&A teams which are able to service the firm's funds clients.

Practice head(s):Daniel Andrews

Key Clients

KKR Credit

Bain Capital Credit

Work highlights

  • Advised an investment management firm, as lenders in the rescue financing of two subsidiaries within a holding company.

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Derivatives (including commodities)
Derivatives (including commodities) - ranked: tier 4

Ropes & Gray LLP

Ropes & Gray LLP has one partner who advises asset managers, alternative credit providers, hedge fund managers and private equity firms. Among these clients are Altice and Western Asset Management. The practice is also growing its portfolio of work for major investment banks. In 2018, Anna Lawry advised on innovative structures including credit enhancement for an emerging market NPL portfolio financing through a rolling FX hedging programme, and a bespoke scheme for interest rate hedging. The firm is also known for its advice on regulatory matters, particularly in regard to issues affecting asset managers. Lawry has more than 15 years' experience in derivatives in all the major asset classes, both OTC or on-exchange, and associated ISDA, collateral, brokerage, clearing and custody arrangements.

Practice head(s):Anna Lawry

Testimonials

"Excellent cross-border co-ordination, with the ability to work incredibly well with asset managers that have global footprints and address derivatives regulatory issues across different fund ranges and types."

"Anna Lawry shows an impressive ability to distil difficult legal analysis into practical everyday guidance."

"A strong team that is very knowledgable and commercially-oriented."

"Anna Lawry stands out with vast knowledge and great attention to detail."

Key Clients

Nordnet

Western Asset Management

SIFMA Asset Management Group

Altice USA

Work highlights

  • Adviding Altice on hedging for $6.75bn refinancing in connection with the combination of Altice USA’s Suddenlink and Optimum businesses under a single credit silo.
  • Advising on the establishment of an agency stock lending program, and related custody arrangements.
  • Advising a global fixed income asset manager on derivatives and securities financing matters.
  • Advising a global alternative investment manager on establishing bespoke OTC derivatives collateral documentation for use by a UK UCITS segregated account and ultimately other clients.
  • Advising a PE investment firm on a number of FX and interest rate hedging transactions for their funds, and special purpose vehicles entering into “NAV” financings in respect of their portfolio investments.

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High yield
High yield - ranked: tier 2

Ropes & Gray LLP

'It is one the law firms that combines loan and bond capabilities in Europe, which is really key in the current convergence of the two products', remarks a client of Ropes & Gray LLP whole another notes that 'the firm clearly differentiates itself through its team approach and connectivity with the bank they are working with - it feels like one big team working together and they always go the extra mile'. Practice head Michael Kazakevich and key partner Jane Rogers are leading lights in the market, while up-and coming partners Robert Haak ('superb') and newly promoted Aditya Khanna are highly recommended. In 2018, the firm advised on several large and complex high yield financings for corporate entities, notably in the telecoms sector, and the firm is steadily expanding its portfolio of work for underwriters.

Practice head(s):Michael Kazakevich

Other key lawyers:Jane Rogers; Robert Haak; Aditya Khanna

Testimonials

"They go above and beyond and anticipate your requests before you request the information. They are very helpful and proactive!"

"Everyone loves working with Jane Rogers - she is practical, smart and always willing to go the extra mile."

"Robert Haak has a depth of knowledge that is second to none."

"Michael Kazakevich's team provided with very detailed explanations and benchmarks during documentation analysis and negotiation."

"It is a fantastic firm that know what it is doing."

"Aditya Khanna is a fantastic lawyer; he raises key commercial and legal points with the banker, runs a very smooth process, and is able to accelerate the transaction if needed."

Key Clients

Altice (and its subsidiaries: SFR, Altice International and affiliates Altice USA)

Liberty Latin America (including, among others, Cable & Wireless and VTR)

Goldman Sachs

Hellman & Friedman

Liberty Global (and its subsidiaries and joint ventures: Virgin Media, Telenet, UPC, Unitymedia and VodafoneZiggo)

TPG

JP Morgan

Samsonite International

Bain Capital

ICG

Work highlights

  • Advised Altice France in connection with obtaining financing commitments and the subsequent entry into credit facilities to finance the deployment of fibre-to-the-home infrastructure by SFR FTTH.
  • Advised Altice USA on the structuring; financing and corporate aspects of the combination of its Suddenlink (Cequel) and Optimum (Cablevision) businesses.
  • Advised Samsonite on its first ever European high yield offering, involving the issuance of €350m 3.5% Senior Notes due 2026.
  • Advised Cable and Wireless in a complex bond financing which provides for multiple reorganisations to streamline and simplify the capital structure of the Cable & Wireless group including numerous inter-creditor arrangements.
  • Ropes & Gray Advises Altice USA on a $1.5bn bond offering and $2.56bn refinancing of revolving credit facilities.
Leading individuals

Jane Rogers - Ropes & Gray LLP

Michael Kazakevich - Ropes & Gray LLP

Next Generation Partners

Aditya Khanna - Ropes & Gray LLP

Robert Haak - Ropes & Gray LLP

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Structured products and securitisation
Structured products and securitisation - ranked: tier 4

Ropes & Gray LLP

The London-based real estate finance and securitisation team at Ropes & Gray LLP has carved out a place in the market since it was formed four years ago, winning a steady stream of high-end work from key clients such as Blackstone Mortgage Trust. The practice handles the full range of structured finance and securitisation financing techniques including repos, CRE CLOs, private NPL securitisations, loan-on-loan facilities and other asset-backed structures. The London group also works closely with the firm's large team in the US, enabling it to handle transatlantic structured finance transactions. The firm is also known for advising US collateral managers and fund managers on EU risk retention rules. Partner Anna Lawry and counsel Richard Hanson are the key practitioners. Partha Pal joined Greenberg Traurig, LLP.

Practice head(s):Richard Hanson; Anna Lawry

Key Clients

Blackstone Mortgage Trust

Work highlights

  • Acting for Blackstone Mortgage Trust (listed mortgage REIT) in an €800m repo for the purposes of leveraging a €1bn loan position.
  • Acting for Bain Capital Credit U.S., as collateral manager, in a $507m EU-compliant 2019-1 CLO arranged by Jefferies.

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London: Real estate

Commercial property: investment
Commercial property: investment - ranked: tier 3

Ropes & Gray LLP

David Seymour’s team at Ropes & Gray LLP serves a client base of private equity and debt funds, endowments, sovereign wealth funds, operating partners, overseas investors and family offices on investment matters in both the UK and Europe. It is particularly well-versed on joint ventures, co-investments, direct and indirect acquisitions and disposals, leasebacks and financing with experience in operating in a range of industries such as hotels, hospitals, retail and leisure, student accommodation, offices and logistics.

Practice head(s):David Seymour

Other key lawyers:Will Bryant

Key Clients

APG Asset Management

Said Holdings

UK Span Property Limited

Bain Capital Real Estate

Arrow Capital Partners

Citi Private Bank

PIMCO

QuadReal

Cathexis Investment Management

Siguler Guff

Work highlights

  • Representing APG Asset Management, the Netherlands-based pension fund on its joint venture with TH Real Estate.
  • Representing UK Span Property on the £107m acquisition of One Bartholomew Lane, London.
  • Advising a family office on the acquisition, development and funding of the world’s largest data centre.
  • Representing a sovereign wealth fund, on its 50:50 €1.3bn joint venture.
  • Representing a real estate client on the establishment of a programmatic, platform joint venture with a local operating partner, to acquire office assets in Paris.

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Property finance
Property finance - ranked: tier 5

Ropes & Gray LLP

Ropes & Gray LLP is known for the strength of its investor client base, acting for several global market leaders. The team advises on complex, high-value property finance transactions, including investment and development finance and NPL acquisitions financed by private securitisations. The team, which is now led by David Seymour, has gone through a number of changes in recent months, with the retirement of former practice head Iain Morpeth and the departures of Partha Pal and Carol Hopper for Greenberg Traurig, LLP and counsel Rick Hanson for Orrick, Herrington & Sutcliffe (Europe) LLP.

Practice head(s):David Seymour

Testimonials

'A key strength of Ropes & Gray's real estate finance team is its ability to advise on the full range of real estate financing techniques, including a highly sophisticated real estate structured finance and securitisation capability, as well as a strong borrower-side real estate finance practice to complement the high-quality private equity real estate offering.'

Key Clients

Blackstone Mortgage Trust

Said Holdings

Cathexis Investment Management

UK Span Property

Work highlights

  • Advising Blackstone Mortgage Trust on a repo for the purposes of leveraging a loan position used to part-finance the acquisition of an NPL portfolio backed by real estate assets.
  • Acting for Blackstone Mortgage Trust on a series of repurchase transactions of loans secured on commercial real estate in London.

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London: Risk advisory

Data protection, privacy and cybersecurity
Data protection, privacy and cybersecurity - ranked: tier 4

Ropes & Gray LLP

Ropes & Gray LLP focuses its efforts on US-related data protection mandates with expertise advising clients in the private equity, asset management, education, healthcare and life sciences sectors. The team has been particularly active in compliance and advisory work and also handles data breaches, crisis response work and regulatory investigations, regularly working with the firm’s risk, investigations and regulatory enforcement partners. The firm’s US strength also makes it well placed to advise on the California Consumer Privacy Act and international data transfers. Rohan Massey heads up the practice and advises on data protection, data security, brand protection, e-commerce and IT matters. Counsel Clare Sellars is also a key name to note.

Practice head(s):Rohan Massey

Other key lawyers:Clare Sellars

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Regulatory investigations and corporate crime
Regulatory investigations and corporate crime - ranked: tier 2

Ropes & Gray LLP

Ropes & Gray LLP has a particular focus on the financial services, private equity, asset management, life sciences and energy and natural resources sectors. It advises clients within these sectors, and more, on matters including  allegations of corruption, money laundering, FCPA and UK Bribery act issues, as well as regulatory compliance and investigations, often coming up against the DoJ, SEC and FBI in the US and the SFO in the UK. Co-head of team Amanda Raad is US-qualified as well as being admitted as a solicitor in England and Wales and has particular expertise handling investigations with a US element. Her highly regarded fellow co-head, Judith Seddon, joined as a partner from Clifford Chance LLP and advises clients on allegations of white-collar crime, fraud, corruption and regulatory and criminal investigations and prosecutions. The firm bolstered its ranks with the addition of  Rosemarie Paul as a partner from Akin Gump LLP.

Practice head(s):Amanda Raad; Judith Seddon

Other key lawyers:Rosemarie Paul; Sean Seelinger; Arla Kerr; Matthew Burn; Chris Stott; Sarah Lambert-Porter

Leading individuals

Judith Seddon - Ropes & Gray LLP

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Further information on Ropes & Gray LLP

Please choose from this list to view details of what we say about Ropes & Gray LLP in other jurisdictions.

China

Offices in Shanghai

Hong Kong

Offices in Central Hong Kong

India

Japan

Offices in Tokyo

London

Offices in London EC4A and London EC4M

South Korea

Offices in Seoul

United States

Offices in Washington DC, New York, Boston, Chicago, East Palo Alto, and San Francisco

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