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DLA Piper LLP (US)

Richard Reilly

Tel:
Work +1 212 335 4910
Email:
DLA Piper LLP (US)

Work Department

Corporate and Finance

Position

Partner

Career

Richard Reilly has a broad securities practice with an emphasis on structured finance, securitization and investment fund formation in the United States and Europe. Richard has over fifteen years of experience acting as deal counsel and collateral manager counsel on U.S. and European CLOs. His experience includes structuring CLOs and securitizations to comply with U.S. and European regulatory requirements including those imposed by the Dodd-Frank Act in the United States and the EU Capital Requirements Directive in Europe. In addition, he has substantial experience representing large asset managers in the formation of private investment funds for the purpose of raising money to invest in structured credit products and distressed assets. In addition, Richard has been involved in several sales and acquisitions of CLO and credit fund platforms.

In the asset securitization area, Richard has represented issuers, arrangers, credit enhancement providers and servicers in a broad range of asset classes including solar, market-based lending, CMBS, RMBS, credit cards, trade receivables and asset-backed commercial paper.

Member

American Bar Association; New York City Bar Association Structured Finance Committee

Education

JD, Georgetown University Law Center; BS, Georgetown University


United States: Finance

Structured finance: securitization

Within: Structured finance: securitization

DLA Piper LLP (US) stands out for its deep experience of CLO transactions. Indeed, led by Richard Reilly, the group serves as primary counsel to Ares Management as collateral manager and to Goldman Sachs as placement agent in their respective CLO activity. The department’s ABS expertise covers student loan and small business loan securitizations; in the Boston office, Andrew Sroka advised Kabbage on its $525m securitization secured by online small-business loans and merchant cash advances. Sroka also acted for Darien Rowayton Bank as sponsor in connection with multiple student loan securitizations. David Luce is another contact in the group.

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United States: Investment fund formation and management

Private equity funds (including venture capital)

Within: Private equity funds (including venture capital)

DLA Piper LLP (US), which has particular expertise in debt funds, but also handles work concerning managed accounts and other asset classes, ‘brings a depth of knowledge and expertise to clients’ problems’. David Goldstein heads the practice from the New York office and continues to work with MC Credit Partners. Victor Levy is ‘an expert in the structured credit fund field - clients appreciate his thoroughness’; he advised cornerstone client Ares Management on establishing a managed account for an investor. Richard Reilly advised Goldman Sachs as placement agent of a billion-dollar-plus collateralized loan obligation fund. Also in New York, Carmen Wong is now counsel. Richard Ginsberg, based in Chicago, advised May River Capital on forming its first fund, which beat its $150m target. The firm acts for several American and international sovereign wealth funds, start-up venture capital firms, and Oxford Properties Group.

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Legal Developments by:
DLA Piper LLP (US)

  • Sentencing guidelines for corporate manslaughter

    In February 2010 the Sentencing Guidelines Council (the SGC) issued definitive guidelines to courts on imposing appropriate sentences for corporate manslaughter and health and safety offences causing death. The SGC states that fines imposed on companies found guilty of corporate manslaughter should not fall below £500,000, while fines in respect of health and safety offences that are a significant cause of death should be at least £100,000. Crucially, the SGC declined to provide for a fixed link between the imposed fine and the turnover or profitability of the offending company.

    - DLA Piper UK LLP

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