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Shearman & Sterling LLP

599 LEXINGTON AVENUE, NEW YORK, NY 10022-6069, USA
Tel:
Work +1 212 848 4000
Fax:
Fax +1 212 848 7179
Web:
www.shearman.com

United States

Real estate
Real estate - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP continued to be highly active in the dirt space, where practice head Chris Smith is noted for his premier leasing practice. For key client SL Green Realty, Smith advised on a joint venture with Jeff Sutton affiliates with respect to an expansion of the leasehold at 650 Fifth Avenue in New York and a simultaneous lease transaction with Nike; and for the same client, Lisa Brill advised on the $2bn sale of 388-390 Greenwich Street to Citigroup. The firm’s strong international presence ensures a number of significant inbound deals for clients such as Norges Bank and, in one highlight, Smith represented Olayan America in its $1.4bn acquisition of the former Sony Building at 550 Madison Avenue. On the debt finance side, Malcolm Montgomery is well known for his work on complex lender mandates; Montgomery advised US Bank National Association, as administrative agent and joint lead arranger, in connection with a $1.4bn loan to General Growth Properties secured by 15 shopping malls located in 14 states. Another name to note is John Opar, who specializes in foreign investments in US real estate, often with a shari’ah component. All named attorneys are based in New York.

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United States: Antitrust

Cartel
Cartel - ranked: tier 5

Shearman & Sterling LLP

Shearman & Sterling LLP has strong capabilities in federal grand jury and European investigations, and has expertise in the full range of the most serious anti-competitive practices, including price-fixing, bid-rigging and group boycotts. In New York, Adam Hakki, Richard Schwed and of counsel Wayne Dale Collins are names to note, as is San Francisco-based John Cove. The firm’s notable client roster includes names such as Barclays and JTEKT. Beau Buffier left the firm to lead the Antitrust Bureau at the office of the New York State Attorney General. Heather Kafele moved to Winston & Strawn LLP in March 2017.

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Civil litigation/class actions
Civil litigation/class actions - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP has a particularly strong reputation in financial services antitrust litigation and has been at the forefront of class actions arising from a multitude of global investigations into the industry. Current work includes representing BNP Paribas and Mizuho Securities USA as defendants in class actions brought against more than 20 primary dealers, in which it is alleged that they conspired to manipulate the market for US Treasury securities and related financial products. In another matter, global litigation head Adam Hakki, Richard Schwed and Jeffrey Resetarits (all based in New York) are acting for Bank of America in putative class actions involving price-fixing of SSA bonds. Other clients include Barclays, Citigroup and Nomura. John Cove, who joined the firm’s San Francisco office in 2016 from Boies Schiller Flexner LLP, has previous experience as a trial attorney at the DOJ. Former co-head of the global antitrust practice Beau Buffier left to become chief of the New York State Attorney General’s Antitrust Bureau. Stephen Hibbard moved to Jones Day.

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Merger control
Merger control - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s US team operates alongside practitioners in London, Frankfurt and Brussels in high-value, high-stakes cross-border transactions involving a wide range of complex antitrust issues. Jessica Delbaum, who is ‘knowledgeable about what to expect early on in the transaction’, worked with the London office to assist Investcorp with obtaining multi-jurisdictional clearances for its $1.08bn sale of Icopal to GAF. Corning, B/E Aerospace and Thomson Reuters are among other clients of the practice. New York-based Delbaum and Washington DC-based Heather Kafele head the US team, following the departure of former antitrust co-head Beau Buffier, who became chief of the New York State Attorney General’s Antitrust Bureau. Recently promoted counsel Kelly Karapetyan is an expert in US HSR and international pre-merger notification requirements.

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United States: Dispute resolution

Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP advises Volvo on anti-corruption compliance, internal and government investigations and related civil litigation, and the firm advised GlaxoSmithKline on a criminal bribery investigation in China. For Morgan Stanley, the firm negotiated a settlement following state and federal investigations into the sale and marketing of RMBS. Other clients include Citigroup and Sociedad Quimica y Minera. New York’s Adam Hakki heads the litigation department and the white-collar practice is led by Stephen Fishbein in New York and Patrick Robbins in Washington DC. Also in New York is John Nathanson, while the Washington DC office also houses Philip Urofsky and Mark Lanpher.

Leading lawyers

Stephen Fishbein - Shearman & Sterling LLP

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General commercial disputes
General commercial disputes - ranked: tier 2

Shearman & Sterling LLP

The ‘forward-thinking’ and ‘proactive’ litigation department at Shearman & Sterling LLP acts for domestic and international companies in litigation and arbitration, and is well versed in cases with a cross-border element. Financial products disputes are a sweet spot, though the team’s recent caseload spans multiple industries and fields of law. 2016 saw a number of victories; among them Stuart Baskin and Brian Polovoy securing a win for Volaris in a RICO action brought by Mexican nationals in the Southern District of Georgia. Daniel Laguardia is ‘outstanding in every respect’. Adam Hakki and Richard Schwed co-head the department from New York, where the majority of the team is based.

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International arbitration
International arbitration - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP’s ‘very strong’ three-partner department ‘punches well above its weight’ and is noted for its energy, natural resources, construction, chemicals, pharmaceuticals, finance and telecoms-sector experience. New York-based Henry Weisburg represented, alongside colleagues in Paris, 13 financial investment companies and two individuals as claimants in an ICC arbitration against a major European telecoms company. A Washington DC-based team, led by Christopher Ryan and of counsel Thomas Wilner, is defending Venezuela in an ICSID arbitration initiated by Koch Minerals and Koch Nitrogen International regarding the construction and operation of an ammonia and urea production facility. The ‘outstanding’ Jonathan Greenblatt splits his time between the New York and Washington DC offices.

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International litigation
International litigation - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s ‘forward-thinking’ team advises international and multinational corporations and financial institutions on high-profile and sensitive disputes, including complex litigation, investigations and enforcement matters. The team also has a leading China securities litigation practice. The team achieved an appellate victory for Daimler and CEO Dieter Zetsche in a retirement benefit and age discrimination dispute. It is also advising Citigroup on an internal investigation and on US regulatory and enforcement matters regarding a $400m fraud against Citigroup’s Mexican unit, Banamex. It is also representing multiple financial institutions in Libor and other rate-setting disputes. In New York, global head of litigation Adam Hakki and deputy head of the litigation department Richard Schwed are recommended and Paula Anderson is ‘adept at international disputes’. John Cove joined the team in San Francisco from Boies Schiller Flexner LLP.

Next generation lawyers

Paula Anderson - Shearman & Sterling LLP

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M&A: litigation: defense
M&A: litigation: defense - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP is ‘very responsive and has high subject matter expertise along with real-world, practical experience’, including in recent high-profile matters. For Merrill Lynch, the firm secured a victory in an aiding and abetting case arising from Signet’s acquisition of Zale Corporation; New York’s Alan Goudiss and Paula Anderson led a team that achieved dismissal based on the shareholder vote. Goudiss is also representing Merrill Lynch in a class action related to the merger of Hutchison Technology and TDK Corporation. Highly respected litigator and global head of litigation Adam Hakki and Jaculin Aaron are representing former CEO of Providence Service Corporation in a Delaware derivative and class litigation alleging breach of fiduciary duty in financing transactions intended to consummate a pending acquisition. John Cove joined in San Francisco from Boies Schiller Flexner LLP.

Next generation lawyers

K. Mallory Brennan - Shearman & Sterling LLP

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Securities litigation: defense
Securities litigation: defense - ranked: tier 1

Shearman & Sterling LLP

‘Equally at home in securities litigation or government investigations’, the team at Shearman & Sterling LLP ‘works hard to deliver top-notch work and an extraordinary level of customer service’. The firm has ‘a dynamic young group of lawyers led by senior statesmen’ and has developed a strong client base among accounting firms and Wall Street banks. New York-based head of litigation Adam Hakki, Daniel Lewis and San Francisco-based Patrick Robbins are representing underwriters of SunEdison and TerraForm Global securities in class actions alleging failure to disclose liquidity problems. Hakki and Lewis also secured an appellate victory for Credit Suisse and Jefferies in In re Tremor Video Securities Litigation. Hakki and Agnès Dunogué won for Barclays and Citigroup in cases arising from the IPO of Nationstar Mortgage Holdings, and for Credit Suisse and Citigroup in a class action regarding Endocyte’s IPO. The firm continued to play a key role in MBS and Libor-related matters. Clients praise Jaculin Aaron, Stuart Baskin and Brian Polovoy, who ‘has a great way of explaining the issues’.

Leading lawyers

Adam Hakki - Shearman & Sterling LLP

Next generation lawyers

Agnès Dunogué - Shearman & Sterling LLP

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United States: Finance

Asset finance and leasing
Asset finance and leasing - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s structured finance department handles asset finance matters, notably secured loans and leasing issues. Acting for investment banks, consumer finance companies and equipment companies, the group handles work across a wide range of asset classes from transport equipment to real estate, infrastructure and solar equipment. Joshua Thompson, co-head of the global leveraged finance group, acted for Wells Fargo as agent bank during a $750m secured financing for Atlantic Aviation FBO, consisting of a $400m term loan and a $350m revolving credit facility. Bjorn Bjerke and of counsel William Yaro are also recommended. Other clients include Citigroup, Jefferies Finance and Société Générale. All named individuals are based in New York.

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Capital markets: debt offerings
Capital markets: debt offerings - advice to issuers - ranked: tier 3

Shearman & Sterling LLP

Capital markets: debt offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Praised for being ‘highly knowledgeable and business-minded’, Shearman & Sterling LLP has a focus on financial services, healthcare, telecoms and mining-related work. Largely based in New York, under the leadership of David Beveridge, the group is also represented in Washington DC, Palo Alto, San Francisco, São Paulo and Toronto. Among its recent issuer highlights, Beveridge advised Electronic Arts on a $1bn offering of senior notes, while Stephen Giove acted for Viacom during its $1.3bn offering of senior notes. However, advice to managers remains the team’s sweet spot and ‘strong performer’ Robert Evans recently acted as underwriters’ counsel in Lowe’s Companies’ $3.3bn offering of investment grade notes, while Lisa Jacobs advised the underwriters on Ford Motor Credit’s $2.2m offering. Jonathan DeSantis and Merritt Johnson are also recommended. In 2016, Michael Benjamin left for Latham & Watkins LLP.

Next generation lawyers

Merritt Johnson - Shearman & Sterling LLP

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Capital markets: equity offerings
Capital markets: equity offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: equity offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s New York-headquartered practice, which is evenly balanced between manager and issuer work, has a wide industry focus encompassing financial services, healthcare, media, mining and telecoms, with a strong showing in cross-border deals. In a key highlight, Ilir Mujalovic and Jonathan DeSantis advised Bank of America Merrill Lynch as underwriters on the $759m IPO of Valvoline. ‘Rising star’ Merritt Johnson had an impressive year; he acted for Barclays, Credit Suisse and Morgan Stanley as underwriters in AdvancePierre Food’s $390m IPO, and also advised the underwriters on Catalent’s $447m secondary offering. A major headline on the issuer side, Richard Alsop and DeSantis assisted Advanced Disposal Services with its $398.5m IPO. Robert Evans is also recommended. David Beveridge heads an international Americas capital markets group that also has platforms in Washington DC, Palo Alto, San Francisco, São Paulo and Toronto.

Next generation lawyers

Merritt Johnson - Shearman & Sterling LLP

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Capital markets: global offerings
Capital markets: global offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: global offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP has a well-integrated network of international offices providing advice to clients on their global debt and equity offerings. Teams in New York, San Francisco, Washington DC and Palo Alto work closely with partners in London, Hong Kong, Singapore, Toronto and São Paulo. The Latin American practice has been particularly busy thanks to low interest rates that have brought several sovereign issuers back to the market. This was demonstrated through the firm’s advice to the global coordinators and joint bookrunners during Argentina’s $16.5bn bond offering, which was the largest offering by an emerging market, and marked Argentina’s return to the capital markets following its sovereign default in 2002. On the issuer side, the firm acted for Panama’s Aeropuerto Internacional de Tocumen in its $575m offering. Key partners include practice group leader David Beveridge, Antonia Stolper, and Stuart Fleischmann and Jason Lehner, who are respectively known for their Mexico and Canada work.

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Capital markets: high-yield debt offerings
Capital markets: high-yield debt offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: high-yield debt offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

David Beveridge heads a New York-based department at Shearman & Sterling LLP that routinely advises underwriters and corporate issuers on high-yield debt deals, with a particular focus on the financial services, healthcare, media, telecoms and mining industries. Among recent highlights, Richard Alsop and Jonathan DeSantis assisted Advance Disposal Services with its $2.2bn debt refinancing, which included a Rule 144A/Regulation S offering of $425m of senior notes, and Jason Lehner acted for JP Morgan, Goldman Sachs and Bank of America Merrill Lynch, as underwriters’ counsel, in Teck Resources’ $1.2bn offering of high-yield senior notes. Kyungwon Lee relocated to New York from the Hong Kong office in 2016 and acted with Merritt Johnson to advise the joint book-running managers on a $425m offering of senior notes by Cincinnati Bell. Michael Benjamin left to join Latham & Watkins LLP.

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Commercial lending
Commercial lending: advice to borrowers - ranked: tier 3

Shearman & Sterling LLP

Commercial lending: advice to lenders - ranked: tier 2

Shearman & Sterling LLP

A longstanding and well-respected player in the market, Shearman & Sterling LLP is best known for its lender work, although it also handles an enviable pipeline of borrower-side mandates for corporates and private equity sponsors. Borrower highlights included advising Dow Corning Corporation (DCC) on a $4.5bn loan to finance the acquisition of Corning’s interest in DCC by the Dow Chemical Company and advising Intercontinental Exchange on the complex financing arrangements required for its $5.2bn acquisition of Interactive Data. On the lender side the firm acted for Citigroup Global Markets and UBS Securities on the $16.2bn financing for Aetna’s $37bn takeover of healthcare company Humana and acted for Morgan Stanley and HSBC on a $2.4bn loan to finance Samsonite’s acquisition of Tumi Holdings. Practice head Joshua Thompson has ‘incredibly impressive breadth of knowledge and attentiveness to the client and the client’s needs’; he leads a team of extremely well-regarded partners including Maura O’Sullivan, Gus Atiyah and Jonathan DeSantis.

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Financial services regulation
Financial services regulation - ranked: tier 4

Shearman & Sterling LLP

Led on the bank regulatory front by Reena Sahni, and in broker-dealer matters by Russell Sacks, Shearman & Sterling LLP’s standalone two-partner practice often advises major domestic and international financial institutions on the most pressing issues affecting their businesses, including matters relating to the Volcker Rule, enhanced prudential standards and risk-based capital. Benefiting from vast knowledge of the regulatory framework underpinning brokerages, trading systems and clearing houses, Sacks’ expertise in the field is underscored by his continued representation of SIFMA across a range of matters, including the coordination of its response to recent new rules relating to block trading and prohibitions on front running. He has also been active in transactional matters and, as well as representing clients in the establishment of investment bank boutiques, has been advising on strategic divestments - including acting for Credit Suisse in the sale of its US and Latin American private wealth businesses to Wells Fargo and Morgan Stanley respectively. Sahni is recognized in the market for her thought leadership across the spectrum of bank regulatory matters and continues to act for numerous domestic and foreign banks on developing and monitoring compliance programs to adhere to Volcker Rule restrictions and enhanced prudential standards.

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Project finance
Project finance: advice to lender - ranked: tier 2

Shearman & Sterling LLP

Project finance: advice to sponsor - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s ‘excellent’ practice is headed by Gregory Tan in New York and is balanced on the lender and sponsor sides, with the former being a key driver of activity in 2016. Cynthia Urda Kassis and counsel Paul Epstein, both of whom are based in New York, advised the US Department of Transportation on its $875m loan to Purple Line Transit Partners to finance the Purple Line light rail transit project. Patricia Hammes advised lenders such as Credit Suisse, Goldman Sachs and Royal Bank of Canada on Helix Generation’s $2.2bn purchase of 3,950MW-worth of power assets from TransCanada Corporation. On the cross-border front, Urda Kassis and Denise Grant advised a syndicate of 19 banks on the $4.1bn financing of the 1,000km Gasoducto Sur Peruano project. The department is also noted for its sponsor-side capabilities: Urda Kassis acted for Transmisora Eléctrica del Norte on the $822m construction financing of its 600km transmission line in Chile, and Tan and Alexandro Padrés assisted Carso Energy with its $240m bridge financing of the development of a 610km pipeline in Mexico. Other sponsor clients include ENGIE, AES Corporation and Castle Energy. New York-based counsels Donna Bobbish and Christian Rudloff are also recommended.

Leading lawyers

Cynthia Urda Kassis Shearman & Sterling LLP

Gregory Tan Shearman & Sterling LLP

Robert Freedman Shearman & Sterling LLP

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Structured finance
Structured finance - ranked: tier 2

Shearman & Sterling LLP

The ‘excellent’ team at Shearman & Sterling LLP has particular expertise in structuring derivatives and providing US and EU regulatory advice to buy-side and sell-side clients. Focusing on commodities derivatives and structuring, Donna Parisi assisted seven South American, US and European banks with the negotiation of a structured repurchase transaction with Banco Central de la República Argentina (BCRA), whereby the consortium of buyers purchased $5bn of Bonar bonds from BCRA. The department has also carved out a niche in acting for market infrastructure providers, and in an example of regulatory strength, Geoffrey Goldman is advising IntercontinentalExchange and its global subsidiaries on the development of their swaps and futures clearinghouses, resolution and recovery planning, and various other issues arising from the EMIR and Dodd-Frank regulations. Azam Aziz specializes in acting for hedge funds, asset managers and other financial institutions regarding note hedges, total return swaps, equity collars and prepaid forward transactions. Notable buy-side clients include Oaktree Capital and Och-Ziff Capital Management.

Leading lawyers

Donna Parisi - Shearman & Sterling LLP

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United States: Industry focus

Energy transactions: conventional power
Energy transactions: conventional power - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s team specializes in project and acquisition finance, particularly for lenders. Gregory Tan assisted the lenders and arrangers with financing the $4.7bn purchase of Cleco Corporate Holdings by investors including Macquarie Infrastructure and Real Assets. The practice also handles project acquisitions and disposals: Robert Freedman, who heads the group with Patricia Hammes, advised Fortress Investment Group on the sale of its interests in the Kingsburg and Goal Line generation facilities. Named attorneys are based in New York.

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Energy transactions: oil and gas
Energy transactions: oil and gas - ranked: tier 3

Shearman & Sterling LLP

Project finance and capital markets are the key pillars of Shearman & Sterling LLP’s practice. Cynthia Urda Kassis acted for a 19-bank syndicate in the $4.1bn financing of the Gasoducto Sur Peruano project; sponsor-side clients include Empresa Nacional del Petroléo. The department also handles M&A: it advised General Electric on the $32bn merger of its oil and gas business with Baker Hughes. Robert Nelson in San Francisco, Robert Freedman, Waajid Siddiqui, Gregory Tan and Alexandro Padrés are other names to note. Named attorneys are based in New York except where indicated otherwise.

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Energy: renewable/alternative
Energy: renewable/alternative - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP’s broad practice, which is led by Christopher Forrester, Robert Freedman and Patricia Hammes in Menlo Park, New York and Washington DC respectively, handles M&A and capital markets as well as project finance. New York’s Antonia Stolper advised Banca Nacional de Costa Rica on a $500m bond issuance and sale that constituted the first ‘green bond’ offering in Central America.

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United States: Investment fund formation and management

Alternative/hedge funds
Alternative/hedge funds - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s Sean Finley advised TRG Management on the creation of a master-feeder fund focusing on Argentina. Finley also advises CCTrack Solutions - an affiliate of CITIC Capital Holdings - on various matters. In the manager M&A space, Nathan Greene and Finlay advised General Electric on its sale of General Electric Asset Management to State Street. Other mandates relate to Dodd-Frank, commodities regulation and cross-border regulatory matters. Azam Aziz also advises significant managers. The team is located in New York.

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Mutual/registered funds
Mutual/registered funds - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s Nathan Greene regularly acts for independent trustees and funds, and has particular strength advising on registered funds of hedge funds. Highlights included advising Skybridge Capital II, a registered fund of hedge funds, and funds managed by Ironwood Capital Management on regulatory issues arising from the impending implementation of the new fiduciary rule. Greene is also advising Perella Weinberg Partners, which the firm has been working with on the mutual funds side since the manager’s entry into the market in 2014, on the launch of an ETF joint venture that will be actively managed and that will follow a hedge fund like investment approach.

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Private equity funds
Private equity funds - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP has particular strength advising its general partner clients on real estate investments and investments into Latin America. In an illustration of the latter, practice head Laura Friedrich advised GTIS Partners, which has $3.3bn of assets under management, on a $750m fund focusing on Brazilian real estate investments. Friedrich also advises the IFC Asset Management Company on their fund launches, most recently assisting with the formation of a growth fund focusing on investments into emerging markets financial institutions. In other highlights, of counsel Paul Schreiber advised Torchlight Investors on the formation of a $1.5bn real estate debt fund, and counsel John Reiss advised Dome Equities on a fund investing in residential real estate across the US. Limited partner clients of the New York-based team include China Investment Corporation, Qatar Investment Authority and Mubadala Development Company.

Next generation lawyers

John Reiss - Shearman & Sterling LLP

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United States: Labor and employment

Employee benefits and executive compensation (transactions)
Employee benefits and executive compensation (transactions) - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s team advises on the ERISA compliance and compensation aspects of M&A, finance and capital markets transactions. Recent highlights include practice head Doreen Lilienfeld’s work on GE’s merger of its oil and gas business with Baker Hughes to create a new publicly traded company, and her advice to Salesforce.com on its $2.8bn public tender offer for Demandware. John Cannon assisted B/E Aerospace in its merger with Rockwell Collins, and advised Japanese insurance company Sompo on its acquisition of Endurance Specialty. Linda Rappaport is also a key contact. Gillian Moldowan joined from Cadwalader, Wickersham & Taft LLP. Named attorneys are based in New York.

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP has ‘a very deep bench, capabilities and expertise’ and clients are consistently impressed with the firm’s ability to provide ‘high-quality and competent people’. The firm is especially ‘well positioned for big global and multi-jurisdictional M&A deals’, thanks to its ‘extensive network’. Among its impressive recent work, it advised GE on the combination of GE Oil & Gas with Baker Hughes to create a market-leading oilfield technology provider; the transaction was structured as a partnership, with GE Oil & Gas and Baker Hughes contributing their operating assets. It also advised Altice on its $17.7bn acquisition of Cablevision Systems Corporation, creating the fourth-largest US cable company. In addition, it represented Liberty Global in its $8.2bn acquisition of Cable & Wireless Communications; the transaction was implemented through a two-stage integration process involving a scheme of arrangement under the UK’s Companies Act and a subsequent merger with a Dutch subsidiary of Liberty Global by forming a new company under the UK’s cross border merger regulations and the Dutch Civil Code. Head of the global M&A group George Casey is ‘unflappable’, provides ‘calm amidst the storm’ and ‘carefully navigates the client through contentious issues’. Scott Petepiece, the head of the firm’s New York M&A group, has an impressive record in strategic M&A and private equity buyouts. The highly experienced Creighton Condon plays a pivotal role in significant transactions, such as advising B/E Aerospace on its $6.4bn sale to Rockwell Collins. Robert Katz is another important figure in New York. San Francisco-based Steve Camahort, Michael Kennedy and Dana Kromm joined Paul Hastings LLP in 2016 and former partner David Connolly joined client Altice as US general counsel.

Leading lawyers

George Casey - Shearman & Sterling LLP

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Private equity buyouts
Private equity buyouts - ranked: tier 5

Shearman & Sterling LLP

Shearman & Sterling LLP lost San Francisco partners Steve Camahort, Michael Kennedy and Dana Kromm to Paul Hastings LLP in 2016. Michael Dorf is the key remaining partner in San Francisco and advises big name clients such as technology-focused Francisco Partners, which he assisted with the purchase of Dell Software alongside Elliott Management. In the New York office, Scott Petepiece, head of Americas M&A, advises a number of buyout funds, sovereign wealth funds and pension funds such as Temasek and CPPIB. He advised Temasek on its acquisition of a minority interest in NYSE-listed Antero Resources. New York partner Robert Masella is also active in private equity buyouts.

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United States: Media, technology and telecoms

Technology: transactions
Technology: transactions - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP’s IP transactions practice is headed up globally by Menlo Park’s Richard Hsu, who is experienced in transactions involving life sciences, semiconductors, medical devices, electronics, software and financial services. Hsu’s representative experience includes advising Trend Micro on the acquisition of HP’s TippingPoint Business and acting for Nokia in the sale of HERE to Automotive Industry Consortium. In New York, Jordan Altman is experienced in agreements that focus on the development, transfer, procurement, commercialization and maintenance of IP and technology.

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United States: Tax

Financial products
Financial products - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP’s financial products lawyers concern themselves with transactions, strategic tax planning, asset management and tax controversy. Co-leader Michael Shulman, who functions as the sole domestic outside counsel for the International Swaps and Derivatives Association (ISDA), as well as Robert Rudnick and Kristen Garry form the core team in Washington DC. Garry and Rudnick are representing the estate of Andrew J McKelvey, the founder of Monster.com, in a $41m deficiency dispute on gains from forward contracts with respect to Monster.com shares. Also noted are counsel Nathan Tasso, who supports Shulman in ISDA matters, and associate Jeffrey Tate, who represented Deutsche Bank, HSBC, J.P. Morgan and Santander as global coordinators and BBVA, Citibank and UBS as joint bookrunners in Argentina’s historic $16.5bn bond offering.

Leading lawyers

Michael Shulman - Shearman & Sterling LLP

Robert Rudnick - Shearman & Sterling LLP

Next generation lawyers

Nathan Tasso - Shearman & Sterling LLP

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International tax
International tax - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s international tax practice advises on a variety of matters, such as multi-jurisdictional M&A transactions, tax structuring, tax controversy, investments as well as tax-sensitive company management/employee compensation packages and expatriate taxation. New York-based co-head Laurence Bambino advised Albemarle Corporation on the sale of its Chemetall surface treatment business to German company BASF in a cash transaction valued at approximately $3.2bn, while Ethan Harris in Washington DC led the tax advice regarding Liberty Global’s $5.5bn acquisition of UK-headquartered Cable & Wireless Communications. Menlo Park’s Larry Crouch assisted Taikang Insurance Group in establishing a joint venture with NorthStar Realty Finance Group. Bambino also advised Liberty Global on the distribution of 117.4 million Liberty Global Latin America and Caribbean ordinary shares to Liberty Global Group shareholders.

Next generation lawyers

Ethan Harris - Shearman & Sterling LLP

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP’s multi-disciplinary tax group is reputed for its ability to develop tax-efficient structures for acquisitions, disposals, joint ventures and financings. Ethan Harris led advice to General Electric (GE) on the merger of GE’s oil and gas business with Baker Hughes to create a leading oilfield technology provider with $32bn in combined revenue. In another highlight Laurence Bambino, who jointly leads the practice with Michael Shulman from the firm’s New York office, advised B/E Aerospace on its $6.4bn acquisition by Rockwell Collins. Clients also include American Axle & Manufacturing Holdings, Legg Mason and Francisco Partners. Larry Crouch is also noted.

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Latin America: International firms

Banking and finance
Banking and finance - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP is a Latin America heavyweight in banking and finance, covering the key product range from acquisition finance, bilateral syndicated financings, trade and commodities finance, and project finance. It also has an estimable record in Latin America restructurings. The firm has worked with pivotal lenders and Latin American borrowers and sponsors for decades. Lender-clients include Citibank, HSBC and Credit Agricole. It has had a hugely impressive record in Mexico of late, although the firm is genuinely active throughout Latin America. In the restructuring space, the firm continued to advise the bank steering committee in connection with the $4.5bn restructuring of Corporación GEO and 15 of its subsidiaries; GEO was one of the largest homebuilders in Mexico prior to its financial troubles. This deal was the first pre-packaged restructuring under new restructuring laws that formed part of Mexico’s recent financial reforms. In another landmark deal in Mexico, the firm advised the banks in connection with a $3.25bn revolving credit facility and a $2bn term loan to Pemex, the Mexican state-owned petroleum company. It also represented the banks in relation to the $300m senior unsecured financing for Nemak, the Mexico-based global automotive parts manufacturer. New York’s Jeanne Olivier is one of the most experienced banking and finance practitioners in the Latin American market with an especially impressive record in restructurings and project finance (especially in the renewables sector). Fellow New York partner Denise Grant is another big name in the industry, with an impressive track record in Mexico, Chile and Peru, and is noted for acquisition finance, corporate loans and project finance. Alexandro Padrés, who was elected partner in 2015, is a New York-based Mexican national who has a mix of project finance and classic banking and finance expertise, and is especially well positioned for financings related to Mexico’s energy reforms. Further project finance expertise comes in the form of Gregory Tan, the deputy practice group leader of the firm’s project development and finance group, and a genuine Latin America specialist. In addition, Cynthia Urda Kassis is a recognised Latin America project finance expert and Robert Freedman is noted for renewables project financings in the region.

Leading lawyers

Denise Grant - Shearman & Sterling LLP

Jeanne Olivier - Shearman & Sterling LLP

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Capital markets
Capital markets - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP provides a ‘remarkable’ service in Latin America and has both a historical and a recent record that few can match. The firm has impressed in key markets such as Mexico, Brazil, Chile and Peru, but it is genuinely active throughout Latin America. Through its headquarters in New York and its longstanding office in Sao Paulo it has achieved a significant market share of the headline and complex deals in the region. Clients include Banco BTG Pactual, BNDES, Banco Santander Brasil, Corpbanca, Ecopetrol, FIBRA Prologis, Pemex, Republic of Uruguay and Terrafina. In June 2015, the firm advised Santander on the $10bn Rule 144A/Reg. S MTN programme by Banco Santander. In addition, it advised Credit Agricole, Bank of America Merrill Lynch (BAML) and Daiwa Capital Markets on the Rule 144A/Reg. S issuance of fixed-rate, investment-grade senior notes by Nacional Financiera, Sociedad Nacional de Credito, Institucion de Banca Desarrollo (Nafin). In addition, the firm advised the banks in connection with the Rule 144A/Reg. S MTN takedown of two tranches of fixed rate investment grade notes by Pemex. Illustrating its expertise in high-yield debt and sovereign and quasi-sovereign issuances, it advised the banks on the Rule 144A/Reg. S offering of high-yield senior notes by the province of Buenos Aires. Latin America regional managing partner Antonia Stolper is a prolific adviser who is active ‘all over the place’ in terms of geographic and client coverage; she is known for her work in Mexico, Peru, Chile and Colombia, and for her experience with sovereign issuances. Fellow New York partner Stuart Fleischmann has an equally fine reputation with an excellent record in Brazil and Mexico, especially on behalf of underwriters. Robert Ellison is the key name in São Paulo.

Leading lawyers

Antonia Stolper - Shearman & Sterling LLP

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Corporate and M&A
Corporate and M&A - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP has an enormous reputation in Latin America and has demonstrated a strong commitment to the region over many decades. Its core Latin America team are more oriented towards other practice areas such as banking and finance, capital markets and projects and energy, but its standing in the region and its extensive M&A talent in New York has earned it a number of major mandates. In 2015, the firm advised Liberty Global on the creation of a tracking stock for its Latin America and Caribbean operations, giving investors the opportunity to invest directly into the Liberty Global businesses in the region; it is the first-ever tracking stock created under English law. In another headline deal, the firm represented Citibank in the sale of its consumer and commercial banking operations in Peru to The Bank of Nova Scotia. In one of the most significant inbound transactions into Argentina since the 2001 debt crisis, the firm advised PointState Capital on its acquisition of all class A common stock of the Argentine energy company Genneia. In another landmark deal the firm represented one of China’s largest banks, Bank of Communications (BoCom), on its acquisition of an 80% share in Brazil’s Banco BBM; it was BoCom’s first overseas acquisition. George Casey is head of global M&A and has extensive experience of Latin America transactions. Scott Petepiece is head of the New York M&A practice and is also well-acquainted with Latin America deals, as is senior figure Stephen Besen. The São Paulo office was recently reinforced by the arrival of respected M&A counsel Jonathan Kellner from Linklaters LLP.

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Projects and energy
Projects and energy - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP is ‘very strong’ and has a ‘very good bench’ in both the energy and infrastructure sectors. In 2015, the practice was more weighted towards energy, including oil and gas, and power. Midstream pipeline projects have been a core part of the practice’s caseload. Renewables projects are also a mainstay, and the firm has a fine record in wind developments and now a burgeoning number of solar projects in Chile, Mexico and Uruguay. Hydro projects in Central America and Peru are also worthy of note. The practice advised the lenders on the $4.12bn permanent financing of the Gasoducto Sur Peruano project, a more than 1000km natural gas and liquids transportation system/pipeline in Peru. It also represented Energy Transfer Partners, MasTec and Carso Energy, as sponsors, in the $1.61bn project financing of the development and construction of the Waha-San Elizario and Waha-Presidio natural gas pipeline projects. In addition, it advised FMO and PROPARCO on the $144m financing for the development of an 80MW portfolio of four wind projects located in Costa Rica. New York-based Cynthia Urda Kassis is ‘smart, reasonable and easy to get along with’, ‘constructive’ and ‘gets deals done in an efficient fashion’; a highly respected practitioner, she is noted for her work in energy, infrastructure and mining for both sponsor and lender clients. New York partner Gregory Tan is a market leader in project finance, especially for lenders. Alexandro Padrés is Mexico qualified and admitted in New York, with an established record in mining, transportation and energy, especially in Mexico, Chile and Central America; Padrés is a ‘great lawyer’, ‘very smart’ and has ‘risen to prominence within the group’.

Leading lawyers

Cynthia Urda Kassis - Shearman & Sterling LLP

Gregory Tan - Shearman & Sterling LLP

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