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Ropes & Gray

60 LUDGATE HILL, LONDON, EC4M 7AW, ENGLAND
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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

Private equity is at the core of Ropes & Gray LLP's 'excellent' tax practice. The 'knowledgeable' team stands out for its 'deep understanding' of the subject matter, 'user-friendliness' and 'real commercial awareness'. 'At the top of her game', practice head Brenda Coleman continues to advise Bain Capital on the tax aspects of various investments, including the purchase of a controlling stake in MKM from 3i and LDC. She also advised TSG Consumer Partners on its £213m acquisition of a 22.3% stake in BrewDog. 'Very responsive' and 'commercially astute' Andrew Howard continues to assist Metalmark Capital and Oakley Capital Investments with the UK tax aspects of multiple transactions.

Leading individuals

Brenda Coleman - Ropes & Gray LLP

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Private equity: transactions
Private equity: transactions ‚Äď high-value deals - ranked: tier 3

Ropes & Gray LLP

Ropes & Gray LLP's excellence in sophisticated deals enables it to generate a significant amount of repeat mid-cap and large-cap work from UK and international private equity firms. In 2017, John Newton was part of an international cross-office team, which acted for Bain Capital in the acquisition (along with other members of a group) of Toshiba's semiconductor business for $18bn. In addition, Will Rosen and others advised Baring Private Equity Asia on the $1.8bn sale - alongside Shanghai-based Bright Food Group - of British cereal brand Weetabix to US cereal company Post Holdings. The team also handled a succession of pan-European transactions for TPG, which included Newton and others advising the client and its portfolio company Beaver-Visitec International on the acquisition of Dutch opthalmic technology company Vitreq. Another particularly standout European deal saw Helen Croke, finance partners Malcolm Hitching, Alexander Robb and others act for UK-based Intermediate Capital Group in the $5.3bn consortium buyout of Visma; this transaction represented Europe's largest-ever software sector buyout. In the mid-cap space, the team handled deals for Macquarie Capital, Silverfleet Capital Partners and Oakley Capital Investments, among others. Kiran Sharma is another experienced practitioner in the team.

Leading individuals

Philip Sanderson - Ropes & Gray LLP

Will Rosen - Ropes & Gray LLP

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London: Finance

Acquisition finance
Acquisition finance - ranked: tier 4

Ropes & Gray LLP

Ropes & Gray LLP provides a 'high-quality, responsive and commercial service' to a primarily borrower-side client base consisitng of private equity sponsors such as Bain Capital and Hellman & Friedman, and multinationals such as Cable & Wireless, Liberty Global and Altice. Benefiting from UK and US-qualified practitioners on the ground in London and also able to tap into the expertise of a significant pool of leveraged finance lawyers in the US, the team is well-placed to advice clients across the range of financing products whether it be in relation to New York-law governed high yield, the TLB market or UK-law governed bank debt. Malcolm Hitching and Alexander Robb recently advised Intermediate Capital Group, as part of an investor consortium, on the financing to facilitate the $5.3bn buy-out of Visma. Robb was also involved, alongside Matthew Cox, for Bain Capital on its financing linked to the purchase of a controlling stake in MKM, the UK’s largest independent builders’ merchant’. Although the firm is less active on the lender side, it does handle a significant amount of work for Goldman Sachs. Michael Goetz, Jane Rogers and Michael Kazakevich are also recommended. Benoit Lavigne joined Morrison & Foerster LLP.

Leading individuals

Michael 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

Benefiting from a flexible and wide-ranging finance capability which includes prowess on both the bank and New York-law governed high yield debt piece,  Ropes & Gray LLP is particularly accomplished at handling big-ticket financings for multinationals in the TMT space, including Liberty Global and Altice.  Alex Robb and Jane Rogers handle a significant amount of work for Liberty Global including recently advising it on the refinancing of certain of the existing US dollar and Euro-denominated term loans of the Ziggo Group. Michael Kazakevich is also recommended and regularly handles financing work for Altice. Benoit Lavigne joined Morrison & Foerster LLP in July 2018.

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Corporate restructuring and insolvency
Corporate restructuring and insolvency - ranked: tier 5

Ropes & Gray LLP

Squarely focused on the investor class, Ropes & Gray LLP 's special situations team provides an 'outstanding service' to clients including Goldman Sachs European Special Situations Group and TPG Sixth Street Partners. In light of the transactional nature of much of the work handled by the team, as well as providing core restructuring advice it also leans heavily on the office's broader corporate and finance capabilities. Led by Peter Baldwin and also utilising corporate and finance practitioners from London and the US, the team recently acted for TPG's credit and special situations platform on its $1.27bn acquisition of the equity, debt and bankruptcy claim assets of the Distressed Trading Desk of Credit Suisse North America. As well as special situations investment work, Daniel Martin also regularly handles matters for  Global Loan Agency Services (GLAS) including recently advising it as the replacement note trustee in Fairhold, a £353m defaulted Commercial Mortgage-Backed Security (CMBS) structure. Tony Horspool is also recommended.

Next generation lawyers

Daniel Martin - Ropes & Gray LLP

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Derivatives and structured products
Derivatives and structured products - ranked: tier 5

Ropes & Gray LLP

Ropes & Gray LLP joins the ranking on the strength of its growing volume of derivatives and structured products work. Its increased standing in the market is evidenced by its appointment as external counsel to SIFMA Asset Management Group's Derivatives Europe Committee, and its growing roster of clients, which now includes Western Asset Management. The firm is a trusted adviser to asset managers, sovereigns and corporates on transactional and regulatory matters in the structured finance market. Anna Lawry is the key partner. She has more than ten years' experience in the derivatives market and frequently advises on OTC or on-exchange transactions, and ISDA, collateral, brokerage, clearing and custody arrangements. She assisted US-based global fixed-income investment firm Western Asset Management Company with the implementation of global margin requirements for OTC derivatives. She also acted for Shire Pharmaceuticals on compliance issues arising from foreign exchange hedging trades. Real estate structured finance partner Partha Pal and senior associate Richard Hanson are also recommended.

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High yield
High yield - ranked: tier 2

Ropes & Gray LLP

Ropes & Gray LLP¬†is¬†¬†'an outstanding firm with very thoughtful lawyers who are creative, hardworking¬†and¬†good communicators'. The high yield practice is best known for its work for¬†Altice and Liberty Global, which are among the most¬†active repeat issuers in the market. For Altice, it handled a¬†$1.31bn offering by Cablevision, and the issuance by Cequel Communications/Suddenlink of $1.5bn in senior secured notes. The firm¬†has, however, continued to increase its volume of work for underwriters. It advised¬†an underwriting syndicate of Goldman Sachs, Morgan Stanley and JPMorgan on ‚ā¨3.4bn in bridge-to-bond facilities related to the merger between Lindorff Group and Intrum Justitia.¬†Michael Kazakevich¬†played a central role in all of those transactions. The other key partner is¬†Jane Rogers, who is¬† among the most experienced practitioners in the European market and is lead advisor to Liberty Global and Virgin Media. Last year, Rogers and rising star¬†Robert Haak¬†acted for VodafoneZiggo in a $2bn and ‚ā¨775m offering of senior secured notes in connection with¬†the combination of Vodafone Netherlands' assets with those of Ziggo.¬†All three partners are described by one client as 'outstanding, creative and thoughtful lawyers, who are on top of their game'.'

Leading individuals

Jane Rogers - Ropes & Gray LLP

Michael Kazakevich - Ropes & Gray LLP

Next generation lawyers

Robert Haak - Ropes & Gray LLP

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Securitisation
Securitisation - ranked: tier 4

Ropes & Gray LLP

Ropes & Gray LLP¬†formed its London securitisation practice three years ago and since then it has built up a strong flow of work for its¬†investor client base and has¬† deepened its relationships with¬†global asset managers. A standout deal from 2017 was the ‚ā¨1.34bn¬†secured credit tenant-linked rental income securitisation of bank branches in Spain. Senior associate¬†Rick Hanson¬†led that deal, in which he acted for Spanish real estate investment trust Uro Property Holdings SOCIMI, as borrower, and Sun Capital Partners.¬†Partha Pal¬†is the key partner in the practice and his track record includes advising a major corporate in the telecoms sector on the UK's first mobile phone handset securitisation. With Hanson, he also acted in a cross-border securitisation involving the UK, Spain and the US, which involved the purchase of Spanish non-performing loans and was structured as a securitisation. In that deal, they represented a leading global private equity firm. Partner¬†Anna Lawry¬†, whose primary focus is on structured finance and derivatives in the hedge fund sector, also plays a key role in the practice.

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London: Investment fund formation and management

Private funds
Private funds - ranked: tier 5

Ropes & Gray LLP

Ropes & Gray LLP¬†is 'highly expert, and can offer rapid and personalised responses when needed - the team is cohesive and this brings out the best advice possible from its range of experts'. Matthew Judd¬†is 'consistently excellent, responsive and thoughtful' - he handles complex secondaries transactions and fund formation mandates concerning buyout funds. Judd's highlights included advising CVC Credit Partners on forming CVC Credit Partners Mid-Market Solutions Fund, which raised ‚ā¨500m. Associate Joshua Cronin¬†is 'intelligent and a pleasure to work with'. Other clients include Chorus Capital Management. Credit fund specialist¬†Anand Damodaran¬†left the firm to join¬†Kirkland & Ellis International LLP.

Leading individuals

Matthew Judd - Ropes & Gray LLP

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London: Real estate

Commercial property
Commercial property: investment - ranked: tier 3

Ropes & Gray LLP

‚ÄėA stand-out player in London‚Äôs real estate investment market‚Äô, Ropes & Gray LLP¬†acts for a wide variety of global investors and has ‚Äėin-depth knowledge‚Äô of the PRS and luxury senior living sectors. The team has a considerable private equity and investment fund client base and acted for a major hedge fund in relation to several complex corporate real estate mandates involving properties across multiple European jurisdictions. Similarly, group head Iain Morpeth¬†assisted a US private equity firm with a major single-asset transaction in London. David Seymour¬†(‚Äėan extremely responsive young partner‚Äô) advised Said Holdings on the sale of its leasehold interest in 5 Churchill Place, Canary Wharf to a Chinese investor; he also assisted the client with the ¬£48m acquisition of a Central London property through a JPUT structure. Further, the team advised a Korean investor on a joint venture for the redevelopment of a significant site in Europe. Carol Hopper is ‚Äėa great negotiator‚Äô and ‚Äėhas a knack for managing complex transactions involving multiple parties‚Äô. Hopper is instructed by global financial institutions and US investment managers such as American Century Investments.

Leading individuals

Carol Hopper - Ropes & Gray LLP

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Property finance
Property finance - ranked: tier 4

Ropes & Gray LLP

Iain Morpeth leads the team at Ropes & Gray LLP, which also includes Partha Pal, Carol Hopper, David Seymour and newly promoted counsel Richard Hanson. The practice focuses on non-bank lenders, and has considerable strength in representing investment managers, advising a number of market leaders. Structured finance and opco/propco matters make up a substantial proportion of the team's workload.

Leading individuals

Iain Morpeth - Ropes & Gray LLP

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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 frequently acts for US-based clients on a range of international privacy and data security issues. The group has particular expertise advising investment funds and life sciences sector clients, including on global data flow, compliance and regulatory issues. It is also representing a private equity firm in investigations into a suspected personal data breach, alongside the firm's government enforcement and litigation teams. In another work highlight, the group is instructed by a Fortune 500 company in the health care sector on the extension and implementation of the entity’s binding corporate rules.  Rohan Massey heads up the London team which also includes counsel Clare Sellars and senior associate Robert Lister.

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Regulatory investigations and corporate crime
Regulatory investigations and corporate crime - ranked: tier 3

Ropes & Gray LLP

Ropes & Gray LLP¬†International provides ‚Äėa superb service with quick responsiveness‚Äô. It focuses on the private equity, life sciences, energy and natural resources, and financial services markets. The firm advises on matters relating to global corruption, sanctions, money laundering, due diligence and on-going monitoring procedures. It also conducts internal investigations, advises on the FCPA and UK bribery act, and represents corporations involved in external investigations by authorities such as the DOJ, SFO, Internal Revenue Service (IRS) and Federal Bureau of Investigation (FBI). Key practitioner Amanda Raad¬†is ‚Äėexceptionally intelligent, diligent, and willing to put in long hours to get the job done‚Äô. Sean Seelinger¬†and Arla Kerr¬†were promoted to counsel. Judith Seddon, who ‚Äėexudes calm control and consummate professionalism‚Äô joined as partner from Clifford Chance LLP, Sarah Lambert-Porter¬†also joined from Clifford Chance LLP¬†as senior associate. Marcus Thompson¬†for Kirkland & Ellis International LLP¬†.

Leading individuals

Judith Seddon - Ropes & Gray LLP

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Further information on Ropes & Gray LLP

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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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