The Legal 500

Within Corporate restructuring, Willkie Farr & Gallagher LLP is a third tier firm,

Now numbering 16 partners following the recent arrival of Mary Warren and Joseph Minias from Linklaters and Quinn Emanuel Urquhart & Sullivan, LLP respectively, Willkie Farr & Gallagher LLP’s New York-based business reorganization and restructuring team provides expertise for debtor and creditor clients across the waterfront of matters, from distressed M&A mandates to representing corporates in Chapter 11 proceedings. Able to tap into the complementary services of strong corporate, tax, litigation and employee benefits teams, the firm remains a ‘strong candidate’ for handling significant debtor mandates and recently successfully guided RathGibson and EnviroSolutions out of Chapter 11. Although its debtor mandates may grab the headlines, the firm has successfully managed to diversify its practice and in line with the increased transactional nature of the bankruptcy market has targeted investor side and distressed M&A matters as an area of focus. In this regard, the team recently represented a Brookfield Asset Management-led consortium on the $6.5bn acquisition of a major equity stake in General Growth Properties, and acted for Centerbridge Capital Partners on the acquisition of GMAC’s resort finance business. Co-head Marc Abrams is a particularly accomplished debtor-side lawyer, although his recent work for clients such as Brookfield Asset Management point to an increasingly diverse practice in keeping with the firm’s overall strategy. Co-chair Matthew Feldman has an excellent reputation, both on the debtor and creditor side, and is regularly the architect of many of the firm’s most innovative strategies, while the presence of ‘wise head’ Myron Trepper as senior counsel affords the team even greater gravitas.

Within Mutual/registered funds, Willkie Farr & Gallagher LLP is a first tier firm,

Willkie Farr & Gallagher LLP’s investment management team is a subset of its wider asset management group and is noted for its ‘strong domestic offering’ for mutual funds work, with a particular emphasis on regulatory compliance and 1940 Act advice. It is highly active on the transactional side, with its representation of Brookfield Asset Management on its $1.7bn acquisition of an additional interest in General Growth Properties demonstrating its capabilities on major fund-related acquisitions. It also advised Morgan Stanley Investment Management in connection with a nine-investor acquisition of $350m of shares in Better Place, a start-up company that is the world’s leading electric vehicle service provider. Asset management group head Barry Barbash advised on that deal, and is considered a market leader in the registered funds space; he is a former director of the SEC’s Division of Investment Management. The group also serves as fund counsel to Reserve Primary Fund and recently advised Ares Capital on its $648m acquisition of Allied Capital.

Within M&A: middle-market ($500m-999m), Willkie Farr & Gallagher LLP is a second tier firm,

From its New York and Washington DC offices, Willkie Farr & Gallagher LLP’s corporate and financial services department offers corporations and financial institutions extensive experience in all types of commercial transactions. With international offices fielded from Paris, London, Milan, Rome, Frankfurt and Brussels, the practice is noted for handling complex, cross-border M&A transactions, and for advising on the complete spectrum of corporate governance matters. Representative highlights included advising Brookfield Asset Management in the $1.7bn acquisition of an additional interest in General Growth Properties, one of the country’s biggest shopping mall owners, from the Fairholme Fund. The team advised Bloomberg in its acquisition of Business Week. Firm co-chair Thomas Cerabino is recommended. Jack Nusbaum remains a key contact.

Within Private equity buyouts, tier 4

Willkie Farr & Gallagher LLP has a distinct focus on private equity in the US and Europe, and represents some of the biggest names in private equity such as Centerbridge Capital Partners, Warburg Pincus, Bain Capital and PAI Partners. In 2010, the firm represented Warburg Pincus on its $3.4bn acquisition, alongside Silver Lake, of Interactive Data Corporation. It also advised Centerbridge Capital Partners on its acquisition of the resort finance business of GMAC Commercial Finance. Notably, the firm has made real progress in Europe, with the Paris office acting for clients such as Bain Capital and Oaktree Capital Management, and the Frankfurt office advising names such as AXA Private Equity and 3i. New York-based Steven Gartner is widely recognised for his work on behalf of Warburg Pincus.

Within Real estate, Willkie Farr & Gallagher LLP is a second tier firm,

Eugene Pinover and Steven Klein co-chair Willkie Farr & Gallagher LLP’s real estate department. The five-partner team, which includes newly promoted David Drewes, represents a wide array of clients including developers, public and private companies, institutional investors, banks, private equity sponsors and hedge funds. The team is advising Brookfield Asset Management on its sponsorship of a standalone plan of reorganization of General Growth Properties, which involves the bankruptcy court permitting it to enter into investment agreements with Pershing Square Capital Management, Fairholme Capital Management and also a Brookfield affiliate. The team is also representing one of the leading bidders in the sale process for Centro Properties Group, a transaction that is expected to be one of the largest in 2011. It is also acting for Citigroup on two significant deals: advising the client on its position relating to its $6.5bn CMBS and mezzanine loan to Harrah’s, and on its $880m mortgage loan commitment to a consortium led by Starwood Capital concerning the Extended Stay Hotel portfolio auction. The team represented a consortium of private equity funds on the restructuring of its $1bn senior mortgage debt relating to the construction of Meadowlands Xanadu shopping and entertainment center. The team has completed several complex transactions for Sunrise Senior Living in 2010 including the restructuring of multiple exiting loan agreements and joint venture agreements – both for standalone assets and asset portfolios – all with the view of streamlining its operations and focusing its efforts on core assets. The team represented DiamondRock Hospitality on a number of debt and equity asset acquisitions and worked for a real estate investment firm on two recapitalizations totaling $600m involving the trophy buildings 650 Madison Avenue and 6 Times Square. The team is also representing a group of private equity funds regarding a proposed $1.1bn acquisition of timeshare loans. The firm also advised longstanding client Goldman Sachs, Lehman Brothers, Boston Properties and new client King Street Capital Management.