Firms To Watch: Banking and finance: Borrower side

FIVELEX Studio Legale e Tributario's banking and finance department is led by former BonelliErede partner Mara Fittipaldi, who focuses on general lending, real estate finance, and leverage and acquisition financing.

Banking and finance: Borrower side in Italy


A renowned Italian banking law practice for LBOs, and public bid and takeover financings, BonelliErede‘s sizeable team covers acquisition, corporate, property and structured finance, along with related regulatory issues. The group’s principal figures are Emanuela Da Rin, an expert in real estate, corporate and acquisition finance, and distressed asset-related operations; loan deal specialist Giuseppe Sacchi Lodispoto; and energy and ecological transition focus team leader Catia Tomasetti. Other names to note are project finance expert Giorgio Frasca and Gabriele Malgeri, along with Antonio La Porta, Giovanni Battaglia (who was promoted to partner in January 2024) and Federico Cocito.

Other key lawyers:

Emanuela Da Rin; Giuseppe Sacchi Lodispoto; Catia Tomasetti; Giorgio Frasca; Gabriele Malgeri; Antonio La Porta; Giovanni Battaglia; Federico Cocito


‘Timeliness and compliance with deadlines, accuracy and accountability. Client-oriented, skilled and dedicated.’

‘Bonelli has unique experience, and a well-led team that gives more junior lawyers the chance to show themselves.’

‘They are very responsive, understand the priorities and needs of their clients and work well together across practice groups.’

They are commercial in the sense that fee discussions are never a problem, which makes billing predictable and increases trust – and the fees are very appropriate and reasonable. Partners’ matter management skills are exceptional.

‘Catia Tomasetti – leadership, knowledge, market insights and a very strong network. If a client talks with Catia for 30 minutes, it is better than doing a month of market research!’

‘A competent team that is capable of listening to clients’ needs. Punctual in responses and clients appreciate the qualities the team has during negotiations.’

‘Gabriele Malgeri is very proactive. Huge availability and experience.’

‘Giorgio Frasca – high-level skills, always available even outside working hours, effective organisation of meetings, excellent coordination of the team’s professionals, and effective solutions for problems alongside alternative proposals.’

Key clients

Antin Infrastructure Partners

Autostrade per l’Italia

Coima sgr



Toto Holding

Work highlights

  • Assisted Abaco Innovazione, a majority shareholder of Exprivia, with promoting a voluntary takeover bid aimed at delisting Exprivia (entirely financed through debt financing).
  • Advised Progeni, the licensee for the provision of non-medical services to the Niguarda Ca’ Granda Hospital in Milan (and the controlling shareholders) on a financing transaction that was spread over several credit lines and partially structured as a social loan.
  • Assisted Bravo Invest in relation to the financing for the acquisition of Microsys, Zerouno and Geos.


Chiomenti‘s team acts for major corporations on acquisition, corporate and real estate finance, as well as refinancing. Gregorio Consoli is the firm’s finance and regulated entities head; Gianrico Giannesi advises both asset managers and investment funds; Giorgio Cappelli routinely assists with high-end financial transactions; Marco Cerritelli predominantly focuses on transport, healthcare and sport-related assets; Antonio Tavella brings expertise in corporate finance; and Giulia Battaglia specialises in structuring complex transactions. Other key figures are Riccardo Rossi, who maintains a broad finance practice, and counsel Andrea Martino.

Practice head(s):

Gianrico Giannesi

Other key lawyers:

Giorgio Cappelli; Marco Cerritelli; Antonio Tavella; Giulia Battaglia; Riccardo Rossi; Andrea Martino

Key clients

Ansaldo Energia S.p.A.


Coima RES S.p.A. Società di Investimento Immobiliare Quotata

De Fonseca S.p.A.

EI Towers S.p.A.

Enel S.p.A.

Eurocommercial Properties Italia S.r.l.


Fincantieri S.p.A.

Hines Italia


Nexion S.p.A.

Pusterla 1880 S.p.A.

Saipem S.p.A.

Savills Investment Management SGR

Sipcam Oxon S.p.A.

SIT S.p.A.

Unicoop Tirreno S.C.a.r.l.

Unipol Sai Assicurazioni

Università Cattolica del Sacro Cuore

Work highlights

  • Advising Ansaldo Energia on the execution of a financial manoeuvre, which relates to the launch of the 2023-2027 Industrial Plan.
  • Advising the Moretti family on the acquisition financing of a minority stake in Lumson through a mezzanine notes issuance and senior bank financing.

Clifford Chance

Mandated by large domestic and international groups, Clifford Chance's Milan-based Italy group handles high-stakes finance transactions, including acquisition finance, syndicated loans, export finance and debt restructuring deals. The team is headed up by longstanding banking and finance expert Giuseppe De PalmaCharles Adams is a renowned specialist in Italian and cross-border banking work. The practice also features leveraged finance and restructuring practitioner Ferdinando Poscio, along with Francesca Cuzzocrea, who was promoted to senior counsel in May 2023. Filippo Tassoni, Chiara Commis and Paolo Ballerini are also key team members.

Practice head(s):

Giuseppe De Palma

Other key lawyers:

Charles Adams; Ferdinando Poscio; Francesca Cuzzocrea; Filippo Tassoni; Chiara Commis; Paolo Ballerini; Lucio Bonavitacola; Riccardo Coassin

Key clients

Banca Nazionale del Lavoro

Bank of America

BNP Paribas

Bper Banca


Cassa Depositi e Prestiti

Crédit Agricole Italia

Deutsche Bank

Generali Real Estate

Goldman Sachs


Intesa Sanpaolo

Invesco Real Estate




Work highlights

  • Assisted Generali Real Estate SGR with the financing aspects of the acquisition from Brioschi Sviluppo Immobiliare of two new buildings.
  • Assisted Invesco with the financing for the acquisition, from IGEFI Group, of NH Collection Milano CityLife hotel.

Gianni & Origoni

Wholeheartedly recommended to anyone seeking top-tier legal counsel in the banking and finance sector', Gianni & Origoni's team is experienced in refinancing, real estate financing, ESG-linked deals, acquisition finance and general corporate operations. The team is jointly headed by financing transaction expert Matteo BragantiniGiuseppe De Simone, who advises private equity funds and companies on domestic and cross-border deals; and corporate and project financing specialist Ottaviano Sanseverino. The team also features Eduardo Fiordiliso, Matteo Gotti, Arrigo Arrigoni, Ilaria Laureti and Piergiorgio Picardi, as well as Claudia Lami and Maria Panetta.

Practice head(s):

Matteo Bragantini; Giuseppe De Simone; Ottaviano Sanseverino

Other key lawyers:

Eduardo Fiordiliso; Matteo Gotti; Arrigo Arrigoni; Ilaria Laureti; Piergiorgio Picardi; Claudia Lami; Maria Panetta


‘Their practice is unique because they know the client’s business and needs.’

‘The team’s strengths are their skills, competence and market knowledge.’

‘Their key capabilities are negotiations and deal finalisation – the best, compared to other firms.’

‘Giuseppe De Simone has very deep legal knowledge and high-level negotiation skills.’

‘Arrigo Arrigoni’s support is outstanding – always able to allocate his outstanding competence even to small deals and matters, understanding immediately their relevance and need to focus.’

‘The team is particularly proactive, and always quick and smart. Always up to date on the market’s needs and anticipates the client’s requests. The borrower-side practice is a trusted partner that delivers results. Wholeheartedly recommended to anyone seeking top-tier legal counsel in the banking and finance sector.’

‘Clients are thoroughly impressed with their expertise and dedication. The team consistently demonstrates a deep understanding of the complexities and nuances of banking and finance matters. They are not only well-versed in the legal intricacies but also possess a keen awareness of the practical implications for clients.

What truly sets Gianni & Origoni apart is the unwavering commitment to client success. They approach each matter with a proactive and solution-oriented mindset, ensuring that their clients’ objectives are not only met but exceeded.

Key clients


Atlantia S.p.A.




Generali Real Estate

Infrastrutture S.p.A.

Ital Gas Storage

Prelios SGR S.p.A.

Salcef Group

Società Autostrade Alto Adriatico

Tages Capital SGR

Terna S.p.A.

Whysol Investments

Work highlights

  • Assisted Tages Capital SGR with the bridge financing and subsequent €1.1bn refinancing for the acquisition (through its investment fund Tages Helios II) of a portfolio of operational solar plants and wind farms.
  • Assisted Società Autostrade Alto Adriatico with the €750m project financing of illion for the extension and modernisation of motorway sections.
  • Assisted Ital Gas Storage with a transaction to amend, increase and restate an approximately €900m financing that was granted in 2016 and subsequently reshaped in 2019 for the development of a 1.3bn cubic metre underground gas storage facility in northern Italy.

Legance - Avvocati Associati

Legance - Avvocati Associati's banking and finance group advises some of the most significant Italian and foreign financial and industrial groups. Co-leading the group are energy and infrastructure project financing expert Monica Colombera, and structured finance specialist Andrea Giannelli. Also integral to the practice are project finance practitioners Filippo RuffatoGiovanni Scirocco and Antonio Palazzolo, along with Tommaso Bernasconi, Luca Autuori, Antonio Matino and Antonio Siciliano. The group further features Emanuele Artuso and Valeria Viti, as well as Giuseppe D’Amore and Ilaria RosaSimone Ambrogi was promoted to partner in June 2023.

Practice head(s):

Andrea Giannelli; Monica Colombera

Other key lawyers:

Filippo Ruffato; Giovanni Scirocco; Antonio Palazzolo; Tommaso Bernasconi; Luca Autuori; Antonio Matino; Antonio Siciliano; Emanuele Artuso; Valeria Viti; Giuseppe D’Amore; Ilaria Rosa; Simone Ambrogi; Cristina Martorana; Marco Gagliardi; Beatrice Zilio


‘The approach to the parties made by the Legance team is very collaborative and oriented towards solving all the issues that can arise during the process.’

‘Legance’s team always goes the extra mile to deliver while managing relationships with all counterparts involved.’

‘As opposed to many law firms, Legance’s main feature is that it solves problems rather than creating more.’

‘Antonio Palazzolo is the most impressive partner around – he is extremely well-respected in the industry and is not afraid to dive deep into matters in order to resolve them as quickly and efficiently as possible.’

‘The team’s dynamics are led in a manner that is never present in any other team. Clients can definitely see that the team enjoys working together and that they are extremely well led.’

‘Cristina Martorana has such huge competence that when she explains her advice clients are sure that not one serious problem will come about during construction or operational phases.’

‘Valeria Viti and Ilaria Rosa are two fantastic lawyers.’

‘While Valeria Viti is on par with most senior partners in terms of technical knowledge, she can explain quite complex and technical items in a manner that is understandable to most finance professionals.’

Key clients

Acea S.p.A.

Aeroporti di Roma


Apax Partners



Bain Capital


Bluefield Partners

Castello SGR

Chint Solar

EF Solare


E.Va. Energie Valsabbia

Equitix Limited

F2i – Fondi Italiani per le Infrastrutture


Green Arrow Capital




NB Renaissance





Solar Ventures





Tonello Energie

Zouk Capital LLP

Linklaters Studio Legale Associato

Linklaters Studio Legale Associato' borrower-side banking and finance team is consistently sought out to advise on high-end domestic and international finance deals, including acquisition, leveraged and syndicated finance. Other areas of strength range from real estate finance and financial structuring to restructuring, and asset and export finance. Heading the firm’s Italian banking and finance group, Andrea Arosio is an acquisition and leveraged finance specialist, while Francesco Faldi has significant restructuring and insolvency experience. The practice also features Ettore Consalvi, Alessandra Ortelli, Marco Carrieri and Lilia Lani. Diego Esposito was promoted to partner in May 2023.

Practice head(s):

Andrea Arosio

Other key lawyers:

Ettore Consalvi; Alessandra Ortelli; Marco Carrieri; Lilia Lani; Diego Esposito; Alessandro Tanno

Key clients

Gilde Buy-Out Partners LLP (now Rivean Capital)

Almaviva S.p.A.

Sixth Street

Gruppo Barletta S.p.A.

Devone S.p.A.

Bain Capital Credit, Ltd

Armònia SGR

Telemos Capital


Bormioli Pharma S.p.A.

White & Case (Europe) LLP

White & Case (Europe) LLP's Milan-based team acts across the entire spectrum of finance products, including high-stakes leveraged financing transactions. Giuseppe Barra Caracciolo's practice includes general lending, real estate and leverage finance, and debt restructuring; Iacopo Canino focuses on leveraged finance; Gianluca Fanti's experience includes real estate finance; and Andrea Novarese's practice covers the automotive, shipping, aerospace and tech sectors. Other key names to note are finance transactions specialist Francesco Scebba and corporate, leverage and acquisition finance practitioner Bianca Caruso, along with Tiziana Germinario and Stefano Bellani.

Practice head(s):

Giuseppe Barra Caracciolo; Iacopo Canino; Bianca Caruso; Gianluca Fanti; Tiziana Germinario; Andrea Novarese; Francesco Scebba

Other key lawyers:

Stefano Bellani

Key clients


Acciaieria Arvedi

Acqua & Sapone

Adler Pelzer

Aeroporti di Roma

Alha Holding

Ali Group




Autostrade per l’Italia



Burgo Group


Coop Alleanza

CPL Concordia


Edizione Group



F.I.S. – Fabbrica Italiana Sintetici


Ferrero International

Fratelli Beretta



Hippocrates Holding

Impresa Medica (Villa Benedetta Group)

Industrie De Nora



Italo NTV

Irgenre Group


Libero Acquisition


MFE – Mediaforeurope



Mundys (former Atlantia)


Open Fiber

Piaggio & C.


Proma Group









Tecnica Group

Toscana Aeroporti

Trasporti Romagna


VI-BA (Acciaierie Valbruna)

Apollo Global Management

Ares Management


Blackstone Credit (former GSO Capital Partners)


Carval Investors



Muzinich & Co.

Oak Hill Advisors

Oaktree Capital Management

Pemberton Asset Management


Starwood Capital

The Carlyle Group

Tikehau Investment Management

VER Capital

21 Investimenti

Antin Infrastructure Partners


BC Partners



CVC Capital Partners


Global Infrastructure Partners


Peak Rock Capital Partners

Peninsula Capital




VER Capital

VGO Capital Partners

White Bridge Investments

Work highlights

  • Advised Edizione on a €1bn term and revolving facilities agreement with a pool of Italian and international lenders.
  • Advising Atlantia S.p.A. (now Mundys S.p.A.) on a €1.5bn sustainability-linked revolving facility agreement with a pool of lenders.
  • Advised Coop Alleanza on its €560m debt refinancing.

Allen & Overy - Studio Legale Associato

Advising companies, private equity investors and alternative investment managers, the work of Allen & Overy - Studio Legale Associato's team stand outs for complex financing deals fusing banking, capital markets or structured finance aspects. Other major areas are real estate financing and funding transactions, as well as infrastructure and energy financings. Leading the banking team in Italy, Stefano Sennhauser has longstanding experience in acquisition finance, corporate loans, real estate finance, debt restructuring and structured finance; Pietro Scarfone and Luca Maffia  have ‘indisputable expertise'; and Frederic Demeulenaere heads the Milan-based UK banking law team.

Practice head(s):

Stefano Sennhauser

Other key lawyers:

Pietro Scarfone; Luca Maffia; Frederic Demeulenaere; Martina Gullino; Marco Mazzola


‘A team that is always available to resolve issues in an efficient way, with high-level expertise.’

‘Top-quality professionals, strong knowledge of financial aspects, valuable support during cross-border matters and outstanding value for money’

‘Pietro Scarfone and Luca Maffia have indisputable expertise, good understanding of financial aspects, personal availability, strong negotiation skills and problem-solving attitudes.’

Work highlights

  • Advised EQT Infrastructure VI fund on the financing aspects of its acquisition of a 60% stake in a newly-created company that will own and operate Wind Tre’s mobile and fixed network.
  • Advised Davide Campari-Milano on a term facility of €400m and a revolving facility of €400m.
  • Advised The Riverside Company on the debt financing to support the acquisition of the entire share capital of BioDue.


With an ‘outstanding track record', Ashurst's Milan team has a strong reputation for project, acquisition and leverage finance, as well as hybrid, real estate and development financings. Additional key areas are telecoms and infrastructure-related finance, corporate lending, trade finance, asset finance and receivables finance. With longstanding experience in advising borrowers on a range of banking and finance deals, Mario Lisanti heads the Italian banking team, which includes energy and infrastructure head Carloandrea Meacci, project financing expert Umberto Antonelli and experienced finance practitioner Luca Maria Chieffo.

Practice head(s):

Mario Lisanti

Other key lawyers:

Carloandrea Meacci; Umberto Antonelli; Luca Maria Chieffo; Nicola Toscano


‘Outstanding knowledge of industry, outstanding track record and solid cross-border support.’

‘Full-service, including cross-border consultation and clear understanding of complex tax frameworks and funding structures. This is a rare trait. In particular, the Italian practice works hand in glove with the English law practice for financing – a particular draw!’

Supportive of the client at every stage of the transaction, demonstrating quality and efficiency in the execution of tasks.

Key clients

Antin Infrastructure Partners

Hippocrates S.p.A.


iCON Infrastructure


Solegreen Ltd.

Work highlights

  • Advised Invesco (as equity sponsor and asset manager) on the development financing for the conversion of a major Milan site into office buildings.
  • Advised Antin Infrastructure Partners on the debt financing package of approximately €1bn for Hippocrates Holding.
  • Advised EcoEridania, as issuer and borrower, on the refinancing of the medium-long term indebtedness of its group.


The Italian banking and finance practice at Dentons covers commercial lending deals, including leveraged, real estate and corporate finance, as well as refinancing, fund financing and private debt. The team additionally assists with high-end project and structured finance transactions. Italy and Europe banking and finance head Alessandro Fosco Fagotto is a highly-regarded structured finance specialist; and Giovanni Diotallevi focuses predominantly on the infrastructure, transportation, energy, telecoms and water sectors. The group further includes experienced real estate finance advisor Pierandrea Bonali and energy and infrastructure project financing expert Luigi Costa.

Practice head(s):

Alessandro Fosco Fagotto

Other key lawyers:

Giovanni Diotallevi; Pierandrea Bonali; Luigi Costa; Ginevra Biadico; Edoardo Galeotti; Franco Paolo Gialloreti


‘Dentons is unparalleled in the Italian market for its comprehensive approach to several legal matters when approaching the deal, along with deep knowledge and strong professionals.’

‘Strong market knowledge and problem-solving capacity.’

‘Dentons, combining solid expertise in the technical-judicial field and in-depth knowledge of the markets, guarantees qualified assistance and customer-oriented advice.’

‘Quick to solve problems and ready to adapt themselves to each situation – deal makers. Proactive collaboration and efforts in helping the client reach its goals.’

 ‘Within Dentons’ banking and finance team, the individuals truly shine. Notably, Alessandro Fosco Fagotto stands out for his exceptional expertise and strategic acumen. His insights surpass expectations, providing invaluable guidance. Equally impressive are Franco Paolo Gialloreti and Edoardo Galeotti, whose meticulous attention to detail and unwavering dedication are key to deals.’

‘Luigi Costa and Ginevra Biadico are really strong, efficient and unique in their ability to find the right compromise to match the expectations of both parties (bank and sponsor) when closing complex deals.’

‘Luigi Costa – very strong market knowledge, flexibility, and attention to the client.’

‘Pierandrea Bonali has considerable legal expertise and the ability to enter into technical financial matters. An outstanding adviser.’

Key clients


Merope Asset Management

Cassa depositi e presititi

CDP Reti


Fort Partners

Kervis SGR

InvestiRE SGR

Czechoslovak Group (CSG)

Fattal Hotel Group

Blue SGR

Quinta Capital SGR

Kryalos SGR



Verteq Capital






Work highlights

  • Assisting Czechoslovak Group (CSG) with the financing for the acquisition of a 70% stake in Fiocchi Munizioni.
  • Assisting FibreConnect (and its majority shareholder Macquarie Asset Holdings) with a €150m financing (increasable by a further €30m) to support the development and construction of high-speed fibre optic network infrastructure.
  • Assisting Italian footwear company MGM with the acquisition of Rekord group, a European manufacturer of technical, sports and outdoor shoes.

DLA Piper

DLA Piper draws on the bench strength experts in leveraged and corporate lending, and is consistently involved in major syndicated lending deals. Other notable areas are real estate and project finance, as well as alternative financing. Luciano Morello heads up the team, which includes senior partner Antonio Lombardo; acquisition and project finance specialist Federico Zucconi Galli Fonseca; international project finance practitioner Giovanni Ragnoni Bosco Lucarelli; and Italy banking and financial services head Ugo Calò. Other key figures are Giuseppe Mele, Giampiero PrioriClaudio D’Alia, Riccardo Pagotto and Pietro Paolo D’Ippolito.

Practice head(s):

Luciano Morello

Other key lawyers:

Antonio Lombardo; Federico Zucconi Galli Fonseca; Giovanni Ragnoni Bosco Lucarelli; Ugo Calò; Giuseppe Mele; Giampiero Priori; Claudio D’Alia; Riccardo Pagotto; Pietro Paolo D’Ippolito; Ivano Sproviero


‘Stands out due to its exceptional team, boasting unparalleled strengths and key capabilities.’

‘Potential clients are sure to appreciate the practice’s innovative approach that embraces cutting-edge technology, fosters collaboration and promotes diversity. These factors make DLA Piper Milan a top choice, distinguishing it significantly from other firms in the industry.’

‘Giovanni Ragnoni Bosco Lucarelli brings exceptional quality as a lawyer in all fields related to project finance. He is a real team leader, who is able to drive his team and the entire process, even during complex cases.’

‘Giuseppe Mele and Ivano Sproviero are truly exceptional. Their expertise, dedication and innovative approach set them apart from competitors.’

‘Giuseppe Mele has unparalleled legal acumen, while Ivano Sproviero’s diligence and strategic thinking are invaluable. Their standout qualities make them the best in the field, and clients highly value their contributions.’

‘The team is always available to support the client proactively, not just responding to specific requests but checking the possible implications in other areas as well. Working with DLA, clients really can feel the teamwork.’

‘People who are very knowledgeable and always available; they approach problems with a commercial, solution-oriented focus.’

Key clients

Hitachi Rail STS S.p.A.


Candy (Haier group)

Midas International Asset Management Ltd



Novellini Group

Feralpi Group

Aeroporto di Bologna


Do Value

Euromont Shipping Company

Colliers Global Investors Italy SGR


I.V.P.C. Power 6

Calabria RE

Savills Investment Management SGR

Zaka Investments

Omnam Group

Work highlights

  • Assisted Candy with a €600m syndicated loan transaction.
  • Assisted Hitachi Rail in relation to an international infrastructure development project, which aims to construct and finance a new Toronto subway line.
  • Assisted Project X, a subsidiary of Enerproject, with a €22.7m financing transaction granted by Banco BPM and Crédit Agricole Italia.

Latham & Watkins LLP

Latham & Watkins LLP's Milan-based lawyers maintain active practices across acquisition finance, corporate lending, leveraged finance and debt restructuring. With ‘distinctive leadership skills and the ability to manage clients’ expectations', finance specialist Marcello Bragliani, who advises borrowers on leveraged finance and bank and bond transactions, heads up the Italian finance department. Antongiulio Scialpi acts throughout all finance stages, from the initial structuring phases to the negotiation of financing agreements and closing. Alessia De Coppi routinely structures and executes complex financings on behalf of private equity firms and major companies.

Practice head(s):

Marcello Bragliani

Other key lawyers:

Antongiulio Scialpi; Alessia De Coppi


The team works well together and the work is allocated well to manage costs.’

‘Marcello Bragliani is always available for complex issues.’

‘Marcello Bragliani has distinctive leadership skills and the ability to manage clients’ expectations.’

‘The team is very reactive and clear on deadlines.’

‘They present issues in a clear and simple way and have a good knowledge of the market.’

‘Execution of deals that is flawless!’

‘The team has distinctive expertise in the banking sector, also in respect of complex deals involving private equity funds and LBO structures.’

‘They provide efficient legal solutions for complex matters while meeting the relevant deadlines.’

Key clients

Italmatch Chemicals

LimaCorporate (Lima)

Targa Telematics S.p.A.

SK Capital Partners LP

Fabbrica Italiana Sintetici S.p.A.

BayWa AG

Deutsche Beteiligungs AG

Bain Capital Private Equity

PAI Partners

TPG Capital


Molinari Agostinelli

Molinari Agostinelli's banking and finance team covers leveraged, acquisition, corporate and real estate finance. It also draws on the strength of specialists in structured finance and distressed lending, along with complex disposals and acquisitions have UTP and NPL portfolios. The team is jointly headed by renowned banking law and insolvency expert Riccardo Agostinelli, who acts for investment funds and industrial groups; and Alessandro Fontana, who has longstanding banking and finance sector experience. Also key to the team is domestic and cross-border deal specialist Marco Leonardi, as well as Andrea Taurozzi and Daniele Migliarucci.

Practice head(s):

Riccardo Agostinelli; Alessandro Fontana

Other key lawyers:

Marco Leonardi; Andrea Taurozzi; Daniele Migliarucci


Able to identify innovative clauses and/or contractual models, so that they are able to respond better to the specific needs of clients.’

‘Diversified skills within the team – great aptitude for problem solving, negotiation skills and empathy with clients, colleagues and counterparts.’

Key clients



Gruppo Saviola


Kryalos SGR

Landi Renzo

J.P. Morgan Asset Management

AG Digital Media S.p.A.

Ambienta SGR


FWU Life Insurance Lux S.A



Alto Partners

J Hirsch

Work highlights

  • Advised Burgo Group S.p.A on the negotiation of two amendment agreements (redefining certain terms and conditions of existing facility agreements).
  • Advised Saviola Group on a €115m financing from the European Investment Bank.
  • Advised AEW on a €66m financing that is secured by a mortgage on a real estate asset.


In January 2024, Pedersoli Studio Legale and Gattai, Minoli, Partners merged to become PedersoliGattai, which acts for financial sponsors and corporations on a full range of financing and lending deals. Gaetano Carrello focuses on finance, debt capital markets, restructuring and real estate; Lorenzo Vernetti is a specialist in banking, acquisition and leveraged finance; Maura Magioncalda acts for private equity houses and industrial groups on a range of financing transactions; and Emanuela Campari Bernacchi is the structured finance head. Other active advisers include Gian Luca Coggiola, Nicola Gaglione, Consuelo Citterio and Alessandra De Cantellis.

Practice head(s):

Gaetano Carrello; Lorenzo Vernetti; Maura Magioncalda

Other key lawyers:

Emanuela Campari Bernacchi; Gian Luca Coggiola; Nicola Gaglione; Consuelo Citterio; Alessandra De Cantellis; Valentina Lattanzi; Federico Tropeano


‘Extremely deep knowledge of the market and the characteristics of each bank and player.’

‘Strong knowledge of the legal issues and a senior team that is always on top of every project.’

‘Super-reactive to requests, with an excellent level of precision.’

‘The team is very professional, with the ability to get the most out of negotiations. Very knowledgeable and precise in their reviews.’

‘The team is excellent – the best in the Italian market.’

‘Lorenzo Vernetti is excellent to work with – he explains all the legal and technical issues clearly and works well with a range of clients.’

‘Alessandra De Cantellis is always available to listen to clients’ needs, and is flexible in her approach to finding a solution. Stands out for being extremely professional and very well-prepared in her analysis.’

‘Consuelo Citterio is an outstanding professional who is always available to discuss matters with clients. She is a hard worker with extensive knowledge of all the relevant legal issues, and is up-to-date with new regulations.’

Key clients

Goldman Sachs

JP Morgan


Bain Capital


Oaktree Special Opportunities Funds

Carlyle Special Opportunities Funds

BNP Paribas





Voilàp Holding


Alpha Private Equity


Sviluppo Sostenibile (DeA Capital Alternative Funds SGR)

Work highlights

  • Assisted the Engineering Group with a €385m bridge facility agreement.
  • Advised Ardian on the financing for the acquisition of a majority stake in Neopharmed Gentili.
  • Assisted Stirling Square Capital Partners with the financing agreements for the acquisition of Tapì, an Italian manufacturer of designer caps for beverages, cosmetics and condiments.


ADVANT Nctm's banking and finance department focuses primarily on project, acquisition and leveraged financing, as well as corporate and real estate finance. Other notable areas are shipping finance, debt restructuring, and green and sustainable finance. Heading up the team, Stefano Padovani routinely advises on extraordinary transactions; Eugenio Siragusa is a project finance expert; and Giovanni de’ Capitani di Vimercate acts for companies and private equity funds on major financings.

Practice head(s):

Stefano Padovani

Other key lawyers:

Riccardo Sallustio; Matteo Gallanti; Alfredo Lizio; Giuseppe Buono; Roberto de Nardis di Prata


‘Collaborative and proactive people.’

‘Able to find solutions.’

‘Accountability and attention to the client.’

‘Giuseppe Buono and Roberto de Nardis di Prata are always very reliable.’

Key clients

Fincantieri S.p.A.

Radius Payment Solutions Bidco Limited

Julia Portfolio Solutions S.p.A.

Gas Plus S.p.A.

Crealis S.p.A.

Grimaldi Deep Sea S.p.A.


Entangled Capital SGR

TXT e-Solutions S.p.A.


Cooperativa Muratori e Braccianti di Carpi (CMB)

Work highlights

  • Assisted Radius Payment Solutions Bidco with the Italian law aspects of a £460m financing, to be made available by a pool of lenders for the purpose of acquiring the existing Radius group.
  • Provided legal assistance to Julia Portfolio Solutions in relation to its reorganisation.
  • Providing ongoing legal assistance to Gas Plus, in relation to a senior secured reserved based loan granted by a pool of international and local banks to, inter alia, Gas Plus Dacia.

Gatti Pavesi Bianchi Ludovici

Gatti Pavesi Bianchi Ludovici's finance practice advises on a range of borrower-side financing arrangements, including leveraged financing and structured finance. The team is co-headed by Marc-Alexandre Courtejoie, who is experienced in lending and structured finance transactions, including special situations, private debt, and leveraged and project finance; and Andrea Limongelli, an expert in banking and finance, as well as debt restructuring. Stefano Motta and Carolina Caslini are also active practitioners of note.

Practice head(s):

Marc-Alexandre Courtejoie; Andrea Limongelli

Other key lawyers:

Stefano Motta; Carolina Caslini


‘The team is composed of many lawyers who are strongly qualified in banking and finance.’

‘Available and fully committed to meet clients’ needs.’

‘A very complete law firm that is able to cover not only banking and finance matters, but also issues involving other practices, such as tax and structured finance.’

‘The lawyers are highly qualified; this is very important during negotiations with other parties and the drafting of documentation’.

‘Always available to find the best solution for any problem or issue.’

‘The team is deeply committed to perform, even to tight deadlines. ’

‘Marc-Alexandre Courtejoie is a brilliant professional, who has a sharp eye when structuring deals.’

Key clients

Alpitour S.p.A.

B Group S.p.A.

Diasorin S.p.A.

Exacta Group

Nextalia SGR S.p.A.

Orsero S.p.A.


Stilo Immobiliare Finanziaria

TIM S.p.A.

Zoppas Industries – I.R.C.A. S.p.A.

Italian Wine Brands

Oakley Capital Partners

RedTree Capital

Hogan Lovells International LLP

Hogan Lovells International LLP's Milan-based banking and loan finance practice covers leverage, acquisition, real estate and asset finance, along with syndicated lending, and trade and commodity finance. The team is co-led by Carlo Massini, who advises borrowers and investors on a range of financing transactions; and Italy business restructuring and insolvency practice head, Mauro Saccani, an April 2023 recruit from Latham & Watkins LLP. In a further boost to the team, Patrizio Messina and Alessandro Accrocca joined the firm from Orrick, Herrington & Sutcliffe in February 2024.

Practice head(s):

Carlo Massini; Mauro Saccani

Other key lawyers:

Patrizio Messina; Alessandro Accrocca


The capacity and skills of the team are very high and the teamwork very efficient in managing the fees.’

‘All the team members are very cooperative and always available at any time.’

‘Mauro Saccani’s legal and negotiation skills are outstanding.’

‘Mauro Saccani – remains calm and constructive even under strong time pressure, and his legal products are fantastic.’

‘Mauro Saccani has really impressive knowledge of Italian insolvency law, so he is able to handle different matters very efficiently, combining legal skills from different angles.’

‘Great team, high-level knowledge and consistent expertise.’

Key clients

Industrie De Nora

De Nora Tech US

Work highlights

  • Assisted with the financing aspects of its acquisition of Wise Equity’s majority stake in Trime.
  • Assisted the Guaresi Group with the financing for the acquisition of Hortus and its subsidiary Hortech.

Simmons & Simmons

Simmons & Simmons' Milan-based team is experienced in both leveraged and acquisition financing; it routinely advises on major deals involving alternative lenders, including through private placements of bonds. Jointly leading the practice, Davide D’Affronto is an adviser to private equity funds, investors and corporations; and Nicholas Lasagna advises on banking and finance deals (under both English and Italian law). Other names to note are Alessandro Elisio and Maria Ilaria Griffo.

Practice head(s):

Davide D’Affronto; Nicholas Lasagna

Other key lawyers:

Alessandro Elisio; Maria Ilaria Griffo; Federico Perego; Fabrizio Nebuloni


‘Excellent team and strong delivery.’

‘Great partners. Clients like the non-aggressive style and practical advice.’

Key clients

Muzinich & Co.

RiverRock European Capital Partners


Clessidra Private Debt

SEA (Società Esercizi Aereoportuali)

Wise Equity

Unifrutti Group


IGI Private Equity


Eni S.p.A.

L Catterton

Patrizia Investment Management

Clessidra SGR

Prysmian Group



Imprima S.p.A.

Hera S.p.A.

Chequers Partenaires

IAF Network

Gnutti Carlo S.p.A.


Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton's borrower-side practice in Italy features leveraged finance specialist Carlo de Vito Piscicelli, who divides his time between the firm’s London and Milan offices. Highlights for Piscicelli, who ‘shows a detailed and nuanced understanding of market practices', include advising ArcelorMittal on its €5.5bn sustainability-linked revolving facility.

Other key lawyers:

Carlo de Vito Piscicelli


Able to blend diverse practices seamlessly and in a manner that is clear. ‘

‘The team shows a deft expertise and understanding of complex cross-border transactions.’

‘The team is very experienced, has a very pragmatic approach and is solution oriented. This makes the overall process efficient and the negotiations very smooth.’

Key clients



Mohegan Tribal Gaming Authority d/b/a Mohegan Gaming and Entertainment

Asterion Industrial Partners

Dexia Crediop

Intesa Sanpaolo

Goldman Sachs

Acciaierie d’Italia

OC Oerlikon

ST Microelectronics

Work highlights

  • Advising ArcelorMittal on its €5.5bn sustainability-linked revolving facility.
  • Advising ArcelorMittal on a $3bn bridge financing commitment to fund pending acquisitions, including the acquisition of Brazilian steel producer Companhia Siderúrgica do Pecém.
  • Acted as counsel to Mohegan Tribal Gaming Authority d/b/a Mohegan Gaming and Entertainment, on a mezzanine financing for the construction and development of an integrated casino resort in South Korea.

Greenberg Traurig Santa Maria

Acting for borrowers and investment funds, Greenberg Traurig Santa Maria's Milan-based team advises on complex cross-border financings. Heading the finance practice in Italy, Corrado Angelelli's practice covers corporate, leveraged and structured finance, along with restructuring; and Alessio Gerhart Ruvolo's wide-ranging workload includes sustainable and impact finance issues.

Practice head(s):

Corrado Angelelli; Alessio Gerhart Ruvolo

Other key lawyers:

Davide Bonsi; Antonio Enrico Izzi


‘Characterised by the experience of its professionals, the knowledge shown of various legal issues, and the availability and attention to the client.’

‘Corrado Angelelli makes himself available to clear up any legal questions.’

‘The work done is always very good and in compliance with the timing of the operation.’

‘GT law has a hugely professional approach – strong experience in several markets and capable of providing support whenever needed, leveraging on its worldwide teams.’

‘The approach is straightforward and adds value to long-term relationships.’

‘Builds strong relationships with clients – very responsive, always available and timely, and capable of effectively supporting clients’ decision processes.’

‘Very helpful when looking for workable solutions.’

‘Very effective in managing the relationship with counterparts’ legal teams, avoiding the creation of unnecessary tension.’

Key clients

Rhize Capital


EQT Exeter

Castello SGR S.p.A.


Garbe Industrial Real Estate Italy

Threestones Capital

SFO Capital Limited

Kervis SGR


J-Invest S.p.A

Crif S.p.A.

Creditis Servizi Finanziari S.p.A.

Manifattura Tabacchi

Solution Bank

Work highlights

  • Advised Kervis SGR, in its capacity as AIFM of an Italian real estate fund, on the refinancing for the acquisition of a portfolio of mixed-use properties in Milan.
  • Advised EQT Exeter on the refinancing of the acquisition of a portfolio of logistics assets.

Orsingher Ortu – Avvocati Associati

Orsingher Ortu – Avvocati Associati's team comprises experts in acquisition and real estate financing, along with corporate finance and restructuring. Manfredi Leanza advises companies on domestic and cross-border financing transactions; Giovanni Nicchiniello is an experienced corporate finance practitioner; Cosimo Paszkowski assists with finance deals.

Practice head(s):

Manfredi Leanza

Other key lawyers:

Giovanni Nicchiniello; Cosimo Paszkowski; Francesco Senesi; Riccardo Valgoi


‘Cosimo Paszkowski is a super-talented partner with a small but outstanding team.’

Key clients

Antares Vision S.p.A.

Tenax Capital Limited

Coima SGR S.p.A.

UniCredit S.p.A.

MPS Capital Services S.p.A.

Intesa Sanpaolo S.p.A.

Stevanato Group S.p.A.


Black Diamond Capital Management L.L.C.

Prelios SGR S.p.A.

SKY Studios Ltd

Gradiente SGR S.p.A.


UniGasket S.r.l.

Rigoni di Asiago S.r.l.

ECP CremonaPo S.r.l.

Savills Investment Management

Morellato S.p.A.

Work highlights

  • Assisted Nine Trees Group with the financial side to agreements for the acquisition by Bain Capital of Nine Trees Group’s shareholding in FIS – Fabbrica Italiana Sintetici.
  • Assisted Prelios SGR with a green loan agreement entered into with Intesa Sanpaolo.
  • Assisted Morellato with the negotiation and execution of a facility agreement it entered into to finance the acquisition of Christ Juweliere und Uhrmacher seit 1863 GmbH.

Osborne Clarke

Osborne Clarke's Milan office routinely acts for investment funds and private equity houses on the acquisition financing for both companies and real estate assets. Andrea Pinto's practice covers real estate, project and acquisition finance, along with restructuring, while Antonio Fugaldi remains ‘a trusted adviser for Italian law matters'.

Practice head(s):

Andrea Pinto

Other key lawyers:

Antonio Fugaldi


‘Strengths and key capabilities – fast execution, accuracy of content, and competent team members.’

‘In-depth knowledge of the subject and the relevant market.’

‘Specific expertise in various topics and immediate availability.’

‘Excellent teamwork and great client relation skills.’

‘The members of the team are very responsive and knowledgeable.’

‘Good business understanding, and they aim for workable and pragmatic solutions.’

‘Antonio Fugaldi is a trusted adviser for Italian law matters. He is a pragmatic and efficient negotiator. Clients also like his calm approach to the most complex of questions.’

‘Antonio Fugaldi brings experience, expertise and availability.’

Key clients

Azimut Investments S.A.

AKNO Group

Colliers Global Investors Italy SGR S.p.A.

Hines Italy RE S.r.l.


Veolia Energie International S.A.



Obton A/S

Principal Real Estate Europe

NHOA Energy S.r.l.

NHOA Australia Pty Ltd.

Work highlights

  • Acting for AKNO Group on €220m-plus financing deals.
  • Advising KKR and Mirastar, KKR’s European industrial and logistics platform, on a £100m financing for purchases of logistic properties.
  • Advised Obton A/S, a renewable energy investment company, on a promissory note loan agreement for €79.5m.

Pavia e Ansaldo

Pavia e Ansaldo's banking and finance team is particularly active in mid-market work, including acquisition, real estate and healthcare-related financings. Mario Di Giulio advises on structured finance, along with infrastructure and sustainable project financings in East Africa, while banking and finance is also a core area for Roberto Zanchi.

Practice head(s):

Roberto Zanchi; Mario Di Giulio

Other key lawyers:

Caterina Luciani

Key clients

ICCREA Banca Impresa S.p.A.

Investire SGR

Xenon Private Equity


First Growth Real Estate



Planet Smart City

Regione Liguria

Studio Legale Cappelli RCCD

Studio Legale Cappelli RCCD has a significant track record in advising domestic and international corporations and groups on banking law and banking transactions. The team is co-led by structured finance expert Paolo Calderaro and Alberto Del Din, who has the ‘ability to think outside the box and find innovative solutions'.

Practice head(s):

Paolo Calderaro; Alberto Del Din

Other key lawyers:

Giuliana Durand; Morena Bontorin; Deborah De Rosa


The team is distinguished by innovation and flexibility within its technical and legal solutions.’

‘The assistance is always focused and integrated in relation to both civil law and tax aspects.’

‘An important characteristic is the timeliness in responding to requests and the constant support even for day-to-day business.’

‘Alberto Del Din’s practice encompasses a broad range of transactions and expertise, from which clients experience his deep knowledge in structured finance, restructuring and banking law.’

‘Clients appreciate Alberto Del Din’s ability to think outside the box and find innovative solutions that take into account the needs of the parties.’

Giuliana Durand represents a very good combination of professionalism, practicality and reliability, when dealing with counterparts and the different advisors involved in transactions.

Key clients

York Capital Management Europe (UK)

Cedar Capital Partners

Kryalos SGR S.p.A.

21 Investimenti SGR S.p.A.

Route Capital Partners S.r.l.

Aussafer Due S.r.l.

Hines Italy RE S.r.l.

Yanez SPV S.r.l.

illimity Bank S.p.A.

UniCredit S.p.A.

Cassa di Risparmio di Bolzano S.p.A.

Crédit Agricole Italia S.p.A.

Prelios SGR S.p.A.

Gardant Investor SGR

Linus Re Debt Fund II LEV S.à r.l.

Torre SGR S.p.A.

BERP Banca S.p.A.

Banca Finanziaria Internazionale S.p.A.

Stirling Bridge S.r.l.

UniCredit S.p.A.

Nexi S.p.A.

Poste Italiane S.p.A.

Intesa Sanpaolo S.p.A.

Banco BPM S.p.A.

Banca Popolare dell’Emilia Romagna S.p.A.

Banca Popolare di Sondrio S.p.A.

Credito Valtellinese S.p.A

Studio Professionale Associato a Baker & McKenzie

Studio Professionale Associato a Baker & McKenzie's team advises on syndicated bank financing, bonds, and acquisition and project finance. It also handles debt restructuring. The practice of Milan-based department head Alberto Fornari focuses on general, trade and structured finance, while Giorgio Telarico in Rome predominantly advises on project finance deals.

Practice head(s):

Alberto Fornari

Other key lawyers:

Giorgio Telarico

Key clients

Chiesi Farmaceutici

Work highlights

  • Advised Chiesi Farmaceutici on a €700m syndicated loan, extended by a pool of banks to finance part of the acquisition of Amryt Pharma.
  • Advised Chiesi Farmaceutici on the negotiation of a liquidity management agreement with an Italian asset management company.

Studio Legale Associato a Watson Farley & Williams

Studio Legale Associato a Watson Farley & Williams' banking and finance team focuses on the firm’s core industry sectors, namely infrastructure, real estate, energy (including renewables and natural resources) and transport (encompassing maritime, aviation and rail). Co-heading the group are project finance specialist Mario D’Ovidio and shipping financing expert Furio Samela.

Practice head(s):

Mario D’Ovidio; Furio Samela

Other key lawyers:

Michele Autuori; Matteo Trabacchin; Amelia Garavaglia


‘WFW is an extremely professional law firm, with great attention paid to the client.’

‘Supports the client on a range of issues while respecting the defined deadlines.’

‘Extreme professionalism, availability and an excellent ability to establish a friendly relationship with the client, which is very useful in order to reduce the stress during negotiations.’

Key clients

Alpha Trains




MSC Cruises


Work highlights

  • Advised Prysmian on the project finance structure for an interconnection project in the UAE.
  • Advised Alpha Trains on its raising of €548m through a combination of senior and HoldCo level-secured bank debt within its existing common terms financing platform.
  • Advised Sunprime on a €150m project finance loan, granted by a consortium of lenders to finance a portfolio of 250-plus Italian PV plants.

Bird & Bird

Active in corporate, real estate and project-related structured finance deals, Bird & Bird's Italy team advises development companies, sponsors, public entities and contractors on infrastructure-related financings and refinancings. Pierpaolo Mastromarini is an energy and utilities sector expert, while Michele Arruzzolo specialises in project finance.

Practice head(s):

Pierpaolo Mastromarini

Other key lawyers:

Michele Arruzzolo; Andrea Semmola


‘An excellent department with high levels of professionalism, expertise and client focus.’

‘Pragmatic approach with competence, skills and fast execution.’

‘The team has great expertise in the subject matter, and exceptional market knowledge and commercial acumen.’

‘Pierpaolo Mastromarini and Michele Arruzzolo have outstanding knowledge in the subject matter. They are also actively present in the management of the assignment through the coordination of the team, and they provide direct contributions.’

‘Pierpaolo Mastromarini and Michele Arruzzolo both have proactive behaviour and understand actual business needs, which assists with identifying the best solution.’

‘Michele Arruzzolo is very experienced and greatly motivated.’

‘Solid experience and a team that is focused on project finance – an amicable team with good availability and fast response times.’

Key clients


Campo Eolico Ariano

MSE Solar

Parco Solare Friulano 3 and Parco Solare Friulano 4

Work highlights

  • Assisted Campo Eolico Ariano – CEA with the €101m project financing for a wind power plant to be built in the Campania region.
  • Assisted Parco Solare Friulano 3 and Parco Solare Friulano 4, as borrowers, together with Norddeutsche Landesbank – Girozentrale, with the project financing for two photovoltaic power plants.
  • Assisted Demetra with the negotiation of a €11m facility agreement.

CBA Studio Legale e Tributario

CBA Studio Legale e Tributario draws on the strength of experts in shipping, real estate, project and structured finance transactions, including LBOs. The banking, finance and insurance group is led by experienced partner Francesco DialtiDaniela Sorgato routinely acts for major banking and finance clients.

Practice head(s):

Francesco Dialti

Other key lawyers:

Daniela Sorgato; Vincenzo Cimmino


The work team is made up of very competent specialised lawyers, who are able to provide specialist assistance almost in real time.

‘Francesco Dialti is a key person within CBA. He is a very solid lawyer with an excellent background.’

Francesco Dialti: in addition to being extremely knowledgeable from a technical point of view, he is extremely helpful and ultra-fast in providing legal assistance.

‘Attention to clients’ needs, responsiveness and technical capabilities.’

Key clients

Savills Investment Management SGR SpA

Renantis S.p.A. (formerly Falck Renewables)

Alcedo SGR

Steag Solar Energy Solutions


Midwich Group

GNV Grandi Navi Veloci

Metrika SGR S.p.A.

Infinium Logistics

Versilia SPV S.r.l.


Work highlights

  • Advising SENS Iqony Energy Solutions on two project finance loans.
  • Advising on the purchase of several portfolios of NPLs.
  • Advising on the Italian law aspects of a £250m financing.


CMS' Italy team advises on borrower-side financings and refinancings, along with acquisition finance and debt restructuring deals. Leading the team, Paolo Bonolis is a longstanding banking and finance specialist, who acts for clients from the investment services, insolvency, shipping and private equity sectors. Domenico Gaudiello is the public finance department head.

Practice head(s):

Paolo Bonolis

Other key lawyers:

Domenico Gaudiello; Andrea Arcangeli; Maria Giovanna Pisani; Domenico Musso

Key clients

Apcoa Group

Scannell Group

Novelis Inc.

LGT Capital

Debt Capital Markets

B2 Kapital Group

Impresa Percassi S.p.A.

Work highlights

  • Assisting B2Holding Group with a refinancing transaction.

Curtis, Mallet-Prevost, Colt & Mosle LLP

Curtis, Mallet-Prevost, Colt & Mosle LLP's Italy banking and finance practice is headed up by Alfonso de Marco, who advises on banking and real estate matters, structured finance and project financing. Other active advisers include financial and bankruptcy lawyer Giovanni SagramosoFilippo Bianchi and Sergio Esposito Farber.

Practice head(s):

Alfonso Annibale de Marco

Other key lawyers:

Giovanni Sagramoso; Filippo Bianchi; Sergio Esposito Farber

Key clients

DeA Capital Real Estate SGR S.p.A.

Tecnimont S.p.A.

Hotelturist S.p.A.

Fidia Farmaceutici S.p.A.

Fortress Investment Group

Work highlights

  • Advised Leonardo DRS Inc on its reverse merger with RADA Electronic Industries, and the drafting and negotiation of the finance and corporate documentation.

Eversheds Sutherland Associazione Professionale

Eversheds Sutherland Associazione Professionale's Milan-based team covers NPL transactions, along with project, real estate, acquisition and aviation finance. Practice head Umberto Mauro specialises in aviation finance, while Daniela Viaggio's experience includes acting for Italian and international sponsors on major project finance transactions. Ubaldo Caracino is another key name.

Practice head(s):

Umberto Mauro

Other key lawyers:

Daniela Viaggio; Ubaldo Caracino; Ignazio d’Andria; Antonio Muscarà

Key clients

Italia Trasporto Aereo S.p.A.

Colliers Global Investors Italy SGR

MPS Capital Services S.p.A.

Alta Capital Limited


Developing Solar Worldwide

MET Group



Imperial Capital SIM S.p.A.

Schibsted Group

Banca Farmafactoring S.p.A. (BFF)


Ardonagh Europe Limited


Barclays Bank

Alliance Bernstein

Work highlights

  • Advised Italia Trasporto Aereo on aircraft lease novation and amendment agreements.
  • Advised Italia Trasporto Aereo, as lessee, on the novation of existing leases.
  • Advised Italia Trasporto Aereo on aircraft lease agreements with ALC Blarney Aircraft.

Giovannelli e Associati Studio Legale

Giovannelli e Associati Studio Legale's banking and finance team advises underwriters, private equity funds and corporate entities on financings, particularly high-profile LBOs and refinancings. Valerio Fontanesi focuses on leveraged, acquisition and real estate finance, along with direct lending, while Gaetano Petroni is a July 2023 hire from Gattai, Minoli, Partners.

Practice head(s):

Valerio Fontanesi

Other key lawyers:

Gaetano Petroni


‘Focus on core topics and responsiveness are the most remarkable qualities of the team.’

‘Entrepreneurial mentality and deep knowledge of all areas of the Italian finance market.’

The firm is made up of professionals who are specialised in various areas and integrate well with clients’ needs.

Valerio Fontanesi has a profound knowledge of contracts with banks, and interacts very well both with counterparties’ lawyers and with the banks themselves, helping to make fairly complex operations possible.

‘Valerio Fontanesi is devoted and with a problem-solving mindset.’

‘Gaetano Petroni – technically excellent, yet practical, sharp and to-the-point.’

Key clients

Hayfin Capital Management LLP


White Bridge Investments



DeA Capital Real Estate

Azimut Libera Impresa

Argos Wityu





Bank of America

Sixth Street

Herbert Smith Freehills

Herbert Smith Freehills' Italian banking and finance team advises funds and corporations on acquisition, real estate, asset and project financing, along with export finance, syndicated lending, commodity trade finance, corporate loans, fund finance and restructuring. Promoted to partner in April 2023, Simone Egidi leads the Italian banking and finance practice.

Practice head(s):

Simone Egidi


‘Simone Egidi is a very professional lawyer, who is competent and extremely available.’

‘Achieves the best terms and conditions available for financial agreements.’

‘Very good support during negotiations – a strong partnership with clients.’

Key clients

Glennmont Partners (Nuveen)

Groupe Adeo

HSBC Global Asset Management

Avenir LNG and Higas

BP Oil International

Cero Generation

Marubeni Corporation


Zambon S.p.A.

Webuild S.p.A.

Beyond NetZero BV

Messaggerie Libri S.p.A

Vivigas S.p.A.

Pizzarotti S.p.A.

Sorgenia S.p.A.

FRV – Fotowatio Renewable

EDP Renewables

Ceva Logistics SpA

Futura S.r.l.

CMC Europe


Work highlights

  • Advised a corporation on securing the financing for the acquisition, through an auction process, of a majority stake in Adriatic LNG.
  • Advised a major corporation on securing the financing for the acquisition, through an auction process, of a minority stake in IReti Gas.
  • Advised Sorgenia on the project financing for its newly-developed photovoltaic projects in Tuscany.

K&L Gates

Part of the firm’s asset and corporate finance practice, K&L Gates‘ Milan team routinely advises on significant finance deals. The group is jointly headed by Fabrizio Dotti, who advises on acquisition and real estate finance, and on debt and loan portfolio trades; and banking, finance and debt restructuring specialist Paolo Rusconi. Chiara Anceschi was a new arrival in April 2024.

Practice head(s):

Fabrizio Dotti; Paolo Rusconi

Other key lawyers:

Francesco Seri; Mattia Maggioni; Chiara Anceschi


‘Well-balanced and diversified team.’

‘Commitment, availability and competence.’

‘Real team collaboration and excellent follow-up.’

Key clients

Savills Investment Management SGR S.p.A.

DeA Capital Real Estate SGR S.p.A.

LCA Studio Legale

Advising investment funds, sponsors and corporate borrowers, LCA Studio Legale's banking and finance team covers corporate lending, acquisition finance, structured finance and factoring. Leading the banking and finance practice, Davide Valli, who advises on a range of corporate borrowing matters, brings ‘profound technical expertise and significant finance sector experience'.

Practice head(s):

Davide Valli


Extreme availability, speedy reactions, profound technical knowledge and a balanced relationship between quality of service and cost.

Davide Valli has profound technical expertise and significant finance sector experience, and often anticipates the client’s needs, offering immediate solutions.

‘Delivers outstanding advice in a step-by-step manner that matches lender requests and reduces clients’ risk.’

‘Deep knowledge of credit facilities in the Italian market.’

‘Serious people who are prepared and ready to resolve problems.’

Key clients

AVM Associati S.p.A.

AEB S.p.A.

Belenergia S.p.A.

Business Integration Partners S.p.A.

BPER Banca S.p.A.

Cassa Depositi e Prestiti S.p.A.

Cherry Bank

Dana International

DeA Capital Alternative Investment Funds

Emera Group

Groupe EPI (Holding)

FBS Next S.p.A.

Ga.Ma Italia s.r.l.

Iamet SpA

Maghen Capital

Marcegaglia Steel SpA

Panzeri S.p.A.

Polynt S.p.A.

Roma Trevi S.p.A.

Xenon Private Equity Small Cap

Work highlights

  • Acted for Polynt S.p.A., as borrower, on the structuring and negotiation of a loan agreement granted by CDP S.p.A. to support the business in Italy.
  • Advised Xenon Private Equity Small Cap, as financial sponsor and borrower, on an LBO financing granted by Banco BPM SpA to fund the acquisition of Testing S.r.l.
  • Advised Iamet SpA, as industrial sponsor and borrower, on an LBO financing granted by Intesa Sanpaolo SpA to fund the acquisition of a majority stake in Cromaplast SpA.

Orrick, Herrington & Sutcliffe

Orrick, Herrington & Sutcliffe's Italy banking and finance team is notably active in borrowing, structured finance and project finance deals. Marina Balzano brings experience in leveraged, acquisition, corporate and real estate finance; and structured finance and banking law expert. Former group head Patrizio Messina and Alessandro Accrocca exited the firm in February 2024.

Other key lawyers:

Marina Balzano; Giulio Asquini; Cosimo Spagnolo; Edoardo Minnetti


‘The team has a practical approach and helps close transactions with a no-nonsense attitude. Great knowledge and expertise.’

‘Giulio Asquini is an outstanding professional – always ready to help and give guidance. An excellent negotiator.’

Extensive experience and knowledge of the sector.

Great availability.

Key clients

A2A S.p.A.

Garofalo Health Care S.p.A.

Haier Europe Appliance Solutions S.p.A.

Acea Produzione



LB Officine Meccaniche

H.I.G. Europe


Zola Electric


Societé Générale

Work highlights

  • Assisted Acea S.p.A. in relation to a €700m green bond offered to institutional investors under a €5bn EMTN programme.
  • Advised Compagnia Valdostana delle Acque – Compagnie Valdôtaine des Eaux on the issue of a Schuldschein loan for institutional investors.
  • Advised H.I.G. Capital on all aspects of the financing for the acquisition of a controlling stake in Profumerie Pinalli.