The Legal 500

Within Corporate tax, tier 5

Weil, Gotshal & Manges is ‘excellent and thorough’, and ‘takes the initiative’, with particular strength in private equity matters. It recently advised Advent International on the sale of Poundland to Warburg Pincus, and also on its acquisition of the Global Merchant Services business of RBS. Brenda Coleman is ‘excellent’.

Within Equity capital markets: UK capability, tier 5

‘Excellent in all respects’, Weil, Gotshal & Manges has a superb reputation for the quality of its advice to underwriters. Clients rate the ‘talent throughout the team at all levels’, with James Cole and Peter King singled out. The ‘dedicated, responsive and commercial’ group advised Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley on the $2.6bn IPO of insurance group PZU; and also advised Chr. Hansen Holding on its IPO and listing on the NASDAQ OMX Copenhagen.

Within Equity capital markets: US capability, Weil, Gotshal & Manges LLP is a third tier firm,

The US practice at Weil, Gotshal & Manges was greatly bolstered by the relocation of David Meredith to London from Hong Kong, and the appointment of Rob Ferguson from Shearman & Sterling LLP. Meredith recently advised gategroup Holding on a rights offering and global offering of shares on the Swiss Stock Exchange, and also acted for the underwriters in the IPO of the Warsaw Stock Exchange in its privatisation.

Within EU and competition EU and competition

Within M&A: upper mid-market and premium deals, 250m+, tier 4

Weil, Gotshal & Manges saw a number of new-money acquisitions and an increase in share-for-share deals in 2010, acting on 34 deals in 2010 in total, with an average deal size of £930m. The firm advised Home Delivery Network on its acquisition of DHL Domestic; and Advent International and Bain Capital on the £2bn buyout of WorldPay from RBS. Mike Francies attracts high praise from clients, with Peter King also recommended. The firm’s leading European private equity practice is an excellent source of work for the M&A team.

Within Overview,

On the private equity side, the market had its busiest year since 2007 globally, totalling $235.5bn worth of deals, up 92.5% compared to 2009 ($122.3bn), representing 11.1% of global M&A compared to 7.2% in 2009. Activity has been driven as much by houses regaining their appetite for significant investment as looking to exit via secondary buyouts. In the City, US firms are finally building credible alternatives to the UK firms. Although the likes of Clifford Chance remain at the top of the market, Weil, Gotshal & Manges, Latham & Watkins LLP and Kirkland & Ellis International LLP are hot on their heels. Notable developments on the private equity adviser landscape include the investment being made by Ropes & Gray LLP’s London office, hiring Kiran Sharma and Peter Baldwin from DLA Piper UK LLP and Jones Day respectively.

Within Private equity: transactions , Weil, Gotshal & Manges LLP is a second tier firm,

‘Very commercial and easy to deal with’, Weil, Gotshal & Manges is increasingly recognised as a ‘go-to’ firm for the largest and most complex cross-border deals in the market. The ‘superb’ Marco Compagnoni led a team advising Advent International and Bain Capital on the £2bn acquisition of the Global Merchant Services business of RBS – at the time the largest private equity deal in Europe since 2007. As well as picking up an impressive share of new-money deals, the team is also well positioned to handle portfolio restructurings. Mike Francies and Jacky Kelly recently led the advice to Dubai International Capital on the successful restructuring of its portfolio investment in the Almatis Group.

Within Commercial litigation, tier 5

Weil, Gotshal & Manges provides ‘high-quality advice together with a commercial approach’. Significant mandates included instructions for Kaupthing Bank, and acting in a £1.5bn High Court and European Court of Justice VAT case. Matthew Shankland ‘manages cases to successful conclusions’. Juliet Blanch joined from McDermott Will & Emery UK LLP.

Within International arbitration, tier 5

Weil, Gotshal & Manges welcomed former McDermott Will & Emery UK LLP global arbitration head Juliet Blanch, who is ‘an exceptional lawyer’. Highlights included advising the respondent in relation to claims brought by a Cayman-incorporated private equity fund regarding a joint venture investment. Matthew Shankland is recommended.

Within Acquisition finance, tier 5

Weil, Gotshal & Manges’ ‘very responsive’ team represents an impressive cast of sponsors including Lion Capital, Advent International and HgCapital, as well as new clients Teachers’ Private Capital and Summit Partners. Leveraging the firm’s market-leading restructuring capability, it has handled complex and innovative refinancing deals for ONO and Elementis, as well as representing Dubai International Capital on the successful refinancing of its portfolio company Almatis. It saw the departure of Michael Nicklin to the Hong Kong office of Ropes & Gray LLP, but welcomed the arrival of James Hogben from Ashurst LLP and Stephen Lucas from Linklaters LLP.

Within Corporate restructuring and insolvency, Weil, Gotshal & Manges LLP is a third tier firm,

Jones Day suffered the loss of Adam Plainer, who left for Weil, Gotshal & Manges, and Claire Martin-Royle, for Taylor Wessing LLP, while Kay Morley has been promoted to partner. The team acts for Standard Bank and RBS, and recently advised BDO on the Pinnacle Entertainment administration.

Within Debt capital markets, tier 6

Weil, Gotshal & Manges’ ‘supportive and involved’ James Cole and David Meredith advised CEZ on its €500m issue.

Within Derivatives and structured products, tier 4

‘One of the best firms for smaller deals like restructurings as well as larger mandates’, Weil, Gotshal & Manges joins the ranking this year. Jacky Kelly’s team advises Goldman Sachs and JP Morgan, and is primary counsel to Lehman Brothers Special Financing. The ‘competent and diligent’ Steven Ong and associate Mirella Hart are recommended.

Within High yield, Weil, Gotshal & Manges LLP is a third tier firm,

Weil, Gotshal & Manges has been actively rebuilding its London high yield practice after losing Peter Schwartz to Milbank, Tweed, Hadley & McCloy LLP; it hired Rob Ferguson from Shearman & Sterling LLP in March 2011, and David Meredith has transferred from Hong Kong.

Within Investment funds, Weil, Gotshal & Manges LLP is a third tier firm,

Clifford Chance’s funds practice has changed dramatically, losing several key partners; the superb Jason Glover joined Simpson Thacher & Bartlett LLP in January 2011, and in June 2011 Weil, Gotshal & Manges hired Ed Gander, Nick Benson, Nigel Clark and Jonathan Kandel to found its new fund formation team. Nigel Hatfield remains, and provides private equity and real estate fund clients – including Legal & General and Pramerica – with ‘excellent, commercially oriented advice that draws on his deep knowledge of both his subject and the market’; and Stephen Fox is also ‘particularly impressive’.

Within Overview,

US firms also continue to feature prominently, in the corporate restructuring, acquisition finance and high yield rankings in particular. White & Case LLP can lay claim to having the broadest finance offering, while other firms featuring in multiple rankings include Weil, Gotshal & Manges, which recently picked up a four-partner investment funds team from Clifford Chance; Skadden, Arps, Slate, Meagher & Flom (UK) LLP; Kirkland & Ellis International LLP; and Shearman & Sterling LLP. Other strong performers are Bingham McCutchen (London) LLP, which moves up to the top tier for corporate restructuring in recognition of its market-leading bondholder practice; and Simpson Thacher & Bartlett LLP, which excels in leveraged finance, advising the likes of KKR and Blackstone.

Within Securitisation, Weil, Gotshal & Manges LLP is a third tier firm,

Weil, Gotshal & Manges ‘rates highly on all categories, from response times, business acumen and strength in depth to value for money’, and has ‘highly prized institutional knowledge’. Jacky Kelly’s ‘depth of industry and technical knowledge are second to none’; and Steven Ong, Andrew Norwood, Rupert Wall and Brian Maher are also recommended. The firm is advising Lehman Brothers Special Financing on restructuring its structured debt portfolio, and Barclays Capital on matters including a £500m credit card deal.

Within Employment,

The following US firms all have high-level practices, but generally smaller teams than their City counterparts: Arnold & Porter (UK) LLP, where the ‘commercial and professional’ Henry Clinton-Davis advises clients such as SpaceNK; Dewey & LeBoeuf LLP, which has notable employment and pensions capability; Edwards Angell Palmer & Dodge UK LLP, where Neil Adams specialises in team moves in the financial services sector; Faegre & Benson LLP, which acts for 3M, GE and Hearst publishing; Gibson, Dunn & Crutcher LLP, where James Cox advises a number of global players; Greenberg Traurig Maher LLP, where Naomi Feinstein is recommended; K&L Gates, where Paul Callegari is valued for his ‘direct and pragmatic approach’; McGuireWoods London LLP, which took on Jonathan Maude from Hogan Lovells International LLP in 2011; Morrison & Foerster (UK) LLP, recommended for its outsourcing, privatisation, and data protection expertise; Paul, Hastings, Janofsky & Walker (Europe) LLP, which hired Suzanne Horne from Morrison & Foerster (UK) LLP; Orrick, Herrington & Sutcliffe (Europe) LLP, where ‘great communicator’ Nicola Whiteley has experience ranging from grievances to acquisition issues; Weil, Gotshal & Manges, notable for its insolvency-related experience; and WilmerHale, where David Andrews impresses.

Within Pensions, tier 6

Weil, Gotshal & Manges’ pensions practitioners are ‘well versed in their practice area’. Clients include Shop Direct, GE and Advent International. Joanne Etherton is ‘very knowledgeable, responsive, and prepared to go the extra mile’.

Within Commercial property, tier 6

Weil, Gotshal & Manges has ‘a can-do attitude above and beyond the call of duty’, and typically acts on complex deals. A cross-practice team advised Advent International on its £925m acquisition of the Priory Group, with the real estate team advising on over 100 properties as part of the transaction.

Within Media and entertainment, Weil, Gotshal & Manges LLP is a third tier firm,

Weil, Gotshal & Manges’ team, led by Barry Fishley and Mark Soundy, handles top-end corporate mandates for clients including Microsoft, Facebook and All3Media. Fishley recently advised China Media Capital on acquiring controlling stakes in three Chinese television channels, while Soundy advised two private equity houses on selling PEP.com.