Banking and finance: Borrower side in Italy


BonelliErede stands out for its Italian banking law expertise involving leveraged buyouts (LBOs), financing public bids and takeovers. It regularly assists borrowers with syndicated, bilateral and large-scale corporate loans, as well as finance-related distressed debt. The project finance group specialises in the renewable energy, power generation and transmission, oil and gas, waste-to-energy, water, infrastructure and transportation sectors. The firm was recently integrated with Lombardi e Associati. Catia Tomasetti is a project finance specialist, Emanuela Da Rin is a real estate, corporate and acquisition finance expert, and Antonio La Porta  is a member of the Africa team. Gabriele Malgeri, who was made partner, and managing associate Giorgio Frasca focus on project finance.

Practice head(s):

Catia Tomasetti

Key clients

Toto Holding

EF Solare Italia






Nuove Acque


Milano Serravalle

Grandi Stazioni Retail

T Mariotti

Fondo Italiano di Investimento

Work highlights

  • Advised Brioschi Sviluppo Immobiliare on  the signing of a loan agreement for the construction of two buildings and the redefinition of the terms of its overall existing debt position with BNL.
  • Acted for Toto Holding on the project financing for a grid-parity wind energy project.
  • Advised Società di Progetto Brebemi on the refinancing for the engineering, construction and maintenance of a motorway linking Brescia to Milan.


Chiomenti has longstanding experience of deals involving structured finance, restructuring and distressed assets, and real estate and acquisition financing. It is also one of the few Italian law firms that has English Law capacity. Gregorio Consoli focuses on corporate, structured and asset finance; Giulia Battaglia  is experienced in debt restructuring in the shipbuilding and healthcare industries, as well as energy matters; and Luca Bonetti advises on finance and real estate deals. Counsel Alfredo Lizio is a shipping, aviation and structured finance expert, and banking and structured finance specialist Marco Paruzzolo was made partner. Marco Cerritelli, who has infrastructure sector experience, and finance counsel Riccardo Rossi were hired from McDermott Will & Emery Studio Legale Associato and Simmons & Simmons, respectively.

Practice head(s):

Gregorio Consoli


It is an incredible finance team with unique capabilities and experience; the size of the team is also crucial when dealing with different transactions at the same time.

The team knows its sectors very well and has very good contacts with banks.

They are always available and trying to find a solution.

Gregorio Consoli is a real star of the market – he is smart, organised and a great negotiator.

Counsel Riccardo Rossi has all the ingredients to do very well.

Key clients




Unipol Sai Assicurazioni

Coima SGR


Grimaldi Euromed

Fonderie San Giorgio

EI Towers


Università Cattolica del Sacro Cuore

T Mariotti

De Fonseca


Savills InvestmentManagement SGR

BC Partners

Eurocommercial Properties Italia

Work highlights

  • Advised Quattror SGR on the acquisition of a majority stake in the Trussardi Group (TG) (through the creation of a newco), which related to the rescheduling of TG’s debt.
  • Acted for Pasta Zara on the drafting and filing of its petition for admission to a pre-insolvency workout agreement with creditors.
  • Advised Immobiliare Grande Distribuzione Siiq on the execution of a facility agreement.

Clifford Chance

Clifford Chance is at the forefront of all types of finance transactions, including leveraged financing and investment grade and corporate financing, real estate loans and bonds, and international project financing. Charles Adams advises on significant syndicated loans and leveraged and project financings; Giuseppe De Palma is an acquisition finance, restructuring and project finance specialist; and Ferdinando Poscio acts on leveraged finance and restructuring transactions. At non-partner level, counsel Francesca Cuzzocrea specialises in real estate finance, and senior associate Pasquale Bifulco advises on acquisition finance and restructuring.

Practice head(s):

Charles Adams

Key clients

Banco BPM

Crédit Agricole

Intesa Sanpaolo

Banca IMI



Partners Group


Work highlights

  • Assisted Landi Renzo with a new medium-term five-year financing plan, which was for a total amount of €65m.
  • Advised International Game Technology on amendments to an English law revolving facility agreement and an English law term facility agreement.
  • Advised global private markets investment manager, Partners Group, on the financing of the acquisition of Megadyne Group, an Italian manufacturer of power transmission belts, from Astorg Partners.


Linklaters is highly rated for its expertise in complex leveraged deals and asset financings, along with plain vanilla investment grade transactions.  Regularly acting for principal investors and borrowers on cross-border transactions, Andrea Arosio's experience covers banking, acquisition, leveraged, real estate and structured finance, investment grade financing and restructuring.  Francesco Faldi is also a restructuring expert, and Ettore Consalvi advises on acquisition and real estate finance and debtor-in-possession financing. Managing associate Lilia Maria Lani is experienced in real estate and corporate financings, as well as LBOs.

Allen & Overy - Studio Legale Associato

Allen & Overy - Studio Legale Associato has 'very experienced team for very  important finance transactions in terms of deal structuring, negotiation and execution'. It advises on Italian and English law transactions, in relation to general lending, acquisition, leveraged, real estate export credit and project finance, as well as high-yield matters, debt restructuring, non-performing loans (NPLs) and structured finance. Stefano Sennhauser has considerable banking and structured finance experience; Pietro Scarfone recently acted on significant banking and real estate finance transactions; and counsel Frederic Demeulenaere leads the Milan office's UK banking law team. Recently promoted senior associate Luca Maffia has a broad banking and finance practice.

Practice head(s):

Stefano Sennhauser


‘A very experienced team for very important finance transactions in terms of deal structuring, negotiation and execution.

The practice is appreciated for its extensive knowledge of the market, top-quality professionals with high recognition in the market place (meaning it is always an acceptable firm for counterparties and lenders), its ability to provide timely services, and the very good value for services provided.

The team has outstanding problem-solving skills, precision, accuracy and timeliness in providing services as well as excellent communication skills and a commercial attitude.

A very kind approach to both clients and counterparties – the team defends the client’s position without being arrogant.

Stefano Sennhauser is by far the best expert around for financing contracts, with deep and wide experience as well as business sensitivity.

Work highlights

  • Advised 21 Investimenti (now 21 Invest), on behalf of its fund 21 Investimenti III, on the financing surrounding its acquisition of a majority stake in Bodino, which is known for fit-outs, facades and special structure solutions for high-end architectural projects.
  • Acted for Casa Vinicola Zonin, as borrower, on a €40m revolving credit facility.
  • Advised Cedacri, as borrower, on the structuring and documentation of a €150m mid-term financing for the acquisition of Oasi, an Italian provider of software and integrated IT solutions, from Nexi.

Gianni, Origoni, Grippo, Cappelli & Partners

Gianni, Origoni, Grippo, Cappelli & Partners 'has great expertise in every subject'. The practice fields experts in project finance and the management of large NPL portfolios, and it regularly works alongside its public law and corporate and commercial colleagues. Giuseppe De Simone is well known for acquisition, real estate, structured and IPO financing, as well as restructurings; and Matteo Bragantini advises corporate borrowers negotiating financing arrangements. Ottaviano Sanseverino is an infrastructure, energy and oil and gas specialist, and counsel Arrigo Arrigoni assists with infrastructure and renewable energy projects.


Has great expertise in every subject.

The banking team has perfect knowledge of the project finance market and practice, and it is able to understand all parties’ requests and be proactive in finding solutions. It always finds acceptable solutions for everyone.

The firm is equipped with professionals who are specialised in various matters and who effectively address and resolve various issues.

Giuseppe De Simone is really professional and always careful.

Arrigo Arrigoni is particularly appreciated; he has perfect knowledge of project finance practice and is able to co-ordinate different requests coming from different parties. Moreover he has the extraordinary ability to find acceptable solutions for difficult problems.

Key clients



Oaktree Capital

Marcegaglia Investments

Lend Lease

Open Fiber

Ital Gas Storage

Whysol Renewables Holding 1

Work highlights

  • Advised Waltherpark on the €290m financing for an urban re-qualification project in Bolzano.
  • Acted for Marcegaglia Steel on a €550m loan agreement with ten banks.
  • Advised Atlantia on the financing surrounding its joint investment with ACS and Hotchtief in Abertis Infraestructuras.

Latham & Watkins LLP

Latham & Watkins LLP is active in acquisition finance, corporate lending, leveraged finance and debt restructuring. Italian banking and finance department head Marcello Bragliani advises borrowers (and is particularly focused on private equity) on leveraged finance and bank and bond transactions, which frequently involve cross-border aspects. At counsel level, the practices of Mauro Saccani and Antongiulio Scialpi include leveraged and acquisition finance. Former partner Andrea Novarese left for White & Case LLP Italy.

Practice head(s):

Marcello Bragliani


The team is extremely competent and gives clients the clear perception that it is always ready, always on its side, and is never taken by surprise.

A key element to the Latham & Watkins firm is its ability to be very present at 360 degrees throughout the process, managing to work independently on many issues, thereby minimising the time required by company management and sponsors’ personnel.

The fact it is a firm with a global presence, but local focus, guarantees great experience and maximisation of terms, thanks to the remarkable precedents available to them. However, the real differentiating element is the people in the firm, who are of maximum standing. Thanks to their technical knowledge, they know how to combine deep understanding of business dynamics. The speed of responses and availability shown are certainly other key elements that convey the deep commitment they have for their work.

Marcello Bragliani is a reliable, honest person with a critical spirit, who quickly understands the situation and develops strategically correct solutions that he then presents in a clear and transparent manner to clients.

Counsel Antongiulio Scialpi is a great professional, who is very available and responsible.

Counsel Mauro Saccani is extremely good.

Key clients



Bain Capital

F C Internazionale

PAI Partners

Proma Group


SK Capital


The Carlyle Group

LGT European Capital



Platinum Equity

Work highlights

  • Advised IVS on a financing agreement entered into with a pool of banks.
  • Acted for The Carlyle Group on the refinancing of Marelli’s debt, which related to its sale to Langley.
  • Assisted Golden Goose, an Italian luxury shoes and fashion brand, with a bond issuance and super senior revolving facility for general corporate purposes, as well as the refinancing of the company’s indebtedness.

Legance - Avvocati Associati

Legance - Avvocati Associati's work covers leveraged, acquisition, mezzanine and real estate financing, forward start agreements, and syndicated loans. Co-ordinated by Monica Colombera, Filippo Ruffato and recently promoted partner Giovanni Scirocco, the project financing group advises on complex transactions in the energy and infrastructure sector, particularly in relation to the renewables sector. The banking law group is co-ordinated by structured finance expert Andrea Giannelli, and senior counsel Tommaso Bernasconi's practice includes banking, finance and structured finance.


The team is highly professional, quick and available.

Filippo Ruffato displays the highest level of professionalism.

Key clients

2i Rete Gas

Castello SGR




NextEnergy Capital

Tangenziale Esterna

Zouk Capital

Work highlights

  • Advised F2i SGR on the financing for the acquisition from Terra Firma of Italian photovoltaic assets, indirectly held by its Italian holdings, RTR Capital and RTR Holdings VII.
  • Assisted Castello SGR, acting through a fund, with the refinancing (on a project finance basis) of 20 photovoltaic plants.
  • Assisted the concessionaire with the refinancing, on a project financing basis, of the engineering, construction and management of the Tangenziale Est Esterna Milano.

White & Case (Europe) LLP

White & Case LLP Italy expanded its global banking practice with the hire of Andrea Novarese, who is experienced in  banking, leveraged, acquisition and project finance, senior secured lending and restructurings, from Latham & Watkins LLP. The practice, which covers Italian, English and US legal advice, also advises on syndicated and real estate loans, as well as private debt transactions and structured finance. Other key advisers are leveraged and corporate finance expert Iacopo Canino; banking and structured finance specialists Gianluca Fanti and Giuseppe Barra Caracciolo; and corporate finance expert Michael Immordino. Associate Bianca Caruso advises on leveraged, acquisition and real estate finance.


The team is flexible and highly capable.

Key clients

Amundi SGR


Bain Capital



CVC Capital Partners




Libero Acquisition

LGT European Capital

Oak Hill Advisors (Europe) LLP

Oaktree Capital Management

Open Fiber

PAI Partners


Piaggio & C

Platinum Equity

Proma Group

York Capital Management

Work highlights

  • Advised Amplifon on its €528m term financing for the acquisition of Gaes Group.
  • Acted for Open Fiber, an Italian company that is building an ultra broadband fibre network across Italy, on its €3.5bn project financing.
  • Assisted certain companies, including Rossini Investimenti (controlled by an investment consortium led by CVC Capital Partners), with a senior secured bridge facilities agreement, a super senior revolving facilities agreement and a senior unsecured bridge facility agreement, which were entered into in relation to the acquisition of Recordati.


Ashurst's lawyers are experts in acquisition, leveraged, real estate, development, telecoms, infrastructure and project finance, along with corporate lending. The practice also includes experts in trade, asset and receivables finance, and debt restructuring transactions. Mario Lisanti has experience of acting for asset managers and investors; Carloandrea Meacci and Umberto Antonelli are energy and infrastructure project finance specialists. Senior associate Gianluca Coggiola advises on domestic and cross-border banking and finance transactions.

Key clients


Ceva Logistics

CIR – Compagnie Industriali Riunite


DeA Capital Real Estate SGR

GEDI – Gruppo Editoriale l’Espresso




Work highlights

  • Advised Värde on the €337m refinancing of the debt of the Dedica Group (formerly Boscolo Group).
  • Acted for Erogasmet on a €310m project financing.
  • Advised Tages on the structuring of an approximately €537m project financing for a photovoltaic portfolio.

DLA Piper

DLA Piper fields specialists in leveraged and corporate lending, and is regularly involved in syndicated lending transactions at domestic and cross-border levels. The team is also expert in energy and infrastructure project finance, and has a robust real estate finance practice. Antonio Lombardo is a finance law specialist, Francesco De Gennaro focuses on restructuring and special opportunities investments, and Agostino Papa assists with financial markets regulation. Legal director Claudio D’Alia advises on project, acquisition and corporate and real estate financings.


The team is professional and competent.

Key clients

Ansaldo STS

AS Roma Football Team

Bain Capital

Bonfiglioli Riduttori

Coima SGR

Dea Capital

Infragreen Fund

Investire SRG

JP Morgan Asset Management

Kryalos SGR

Metro 5

Meyer Bergman

Patrizia Immobilien

Savills IM SGR

Savills Investments Management

Serenissima SGR

Work highlights

  • Advised AS Roma Football Team on the  refinancing of its existing indebtedness.
  • Assisted Patrizia Immobilien with a mortgage facility agreement entered into with DekaBank Deutsche Girozentrale concerning the acquisition of an Italian corporate vehicle.
  • Assisted Savills Investment Management with the financing for the acquisition of a two-storey shopping centre near Rome.

Gattai Minoli Agostinelli & Partners

Gattai Minoli Agostinelli & Partners advises on lending and financing deals at domestic and cross-border levels. Riccardo Agostinelli focuses on acquisition, corporate, real estate, sport and infrastructure finance, as well as  restructuring and distressed lending; and Gaetano Carrello is recommended for complex finance and restructuring deals. Andrea Taurozzi is noted for acquisition, leveraged, corporate and real estate finance, as well as refinancing.

Practice head(s):

Riccardo Agostinelli


Highly effective negotiation skills and pragmatic thinking.

Gaetano Carrello knows very well the internal dynamics and decision processes of the bank counterparts, and he knows how to negotiate with them in a fair way.

Key clients


Goldman Sachs

Banca IMI


JP Morgan

Credit Suisse

Assicurazioni Generali

Work highlights

  • Advised Fedrigoni Group on the assignment of trade receivables to Crédit Agricole Leasing Factoring.
  • Acted for Ardian on the financing for the acquisition of a majority stake in Neopharmed Gentili from Mediolanum Farmaceutici.
  • Advised investment fund, Intermediate Capital Group, on the financing for the acquisition of Doc Generici, an Italian company in the generic pharmaceutical sector.

Nctm Studio Legale

Nctm Studio Legale advises private equity firms and global borrowers on the financing aspects of major M&A deals, as well as complex transactions involving cross-border and international issues. Eugenio Siragusa is recommended for energy-related project finance, Stefano Padovani frequently acts on NPL deals, and Giovanni de’ Capitani di Vimercate advises private equity funds on acquisition finance transactions. Banking and financial law expert Matteo Gallanti heads the team from London.

Practice head(s):

Matteo Gallanti


The team provides speedy and quality responses.

A very effective and responsive team that is always on the ball.

The professionalism and competence of the lawyers are of the highest level.

Key clients

Texon Italia

D I Mar


Caredent Italia

AnaCap Financial Partners

LBO France


Vision Group

Cogne Acciai Speciali

Work highlights

  • Advised D I Mar on amendments to an existing €35.5m facility agreement.
  • Assisted AXA Investment Managers – Real Assets and Pradera with the finance aspects of the acquisition of the 8 Gallery shopping centre in Turin.
  • Advised Texon Italia on a $43m refinancing facility to Torque Group International Wealth.

Norton Rose Fulbright

Norton Rose Fulbright is particularly experienced in the energy, shipping, infrastructure, telecoms and real estate sectors. The firm's administrative lawyers support the banking practice with regulatory aspects, while its global network means the Italian practice can advise Italian and international clients on cross-border deals. Arturo Sferruzza advises on project, acquisition, commodity and asset finance, and Gennaro Mazzuoccolo is a shipping and real estate finance expert. Counsel Luigi Costa  is noted for project and acquisition finance, corporate lending and refinancing.

Practice head(s):

Arturo Sferruzza


It has fantastic project finance experience and is devoted to its clients.

The team is very well aware of what is going on in the market and is active on the most important deals.

Arturo Sferruzza is a great lawyer.

Key clients

Enel Green Power

Tages Capital




Amaranto Holding

Blue Sphere Corporation



Silver Ridge Power Italia


Work highlights

  • Advised Invesco Group on the real estate financing for the acquisition of a retail outlet.
  • Acted for Sonnedix on the non-recourse refinancing of solar photovoltaic plants in Italy.
  • Advised Enel Green Power on a €950m multi-tranche financing for a portfolio of five wind projects in South Africa.

Simmons & Simmons

Simmons & Simmons' Italy-based practice has full English law capability in banking and finance. Clients particularly appreciate the group's cross-practice expertise, including the convergence between loans and bonds. Davide D’Affronto's client base on the sponsor and borrower side includes private equity funds, investors and corporates; and Nicholas Lasagna's practice includes acquisition and real estate finance, corporate loans and complex structures.

Key clients

Ability Group


Gnutti Carlo

Benson Elliot

Equinox Investments

Wise SGR



Octo Telematics


Europa Risorse SGR


NTC Italia

Palladio Group

Work highlights

  • Assisted Prysmian with obtaining a five-year revolving credit facility for €1bn.
  • Assisted Tapì with the financing for the acquisition of Les Bouchages Delage’s share capital.
  • Advised Gnutti Carlo on a €293m bank financing for the acquisition of the TCG Unitech Group.

Studio Professionale Associato a Baker & McKenzie

Studio Professionale Associato a Baker & McKenzie assists borrowers with bilateral and syndicated bank financing, bonds, and acquisition and project finance. The team's work covers structuring, implementation, contractual remedies and enforcement actions. It also handles debt restructuring. Alberto Fornari's practice includes NPLs, factoring, lending, payment systems and fintech.

Practice head(s):

Alberto Fornari

Key clients




Credito Emiliano

Engel & Völkers

Savills Investment Management SGR

Work highlights

  • Advised Savills Investment Management SGR on the financing for the acquisition, through a multi-sector real estate alternative investment fund, of a portfolio of eight supermarkets.
  • Assisted Engel & Völkers, and its Italian subsidiary, with the execution of Italian guarantees for a financing.
  • Assisted ACS Dobfar with a financing deal valued at €150m.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton is praised for its ability to act as lead counsel on English and New York law–governed financings, as well as on Italian finance law. The practice regularly assists with complex financing arrangements, bespoke alternative refinancing, and debt obligation restructurings. Carlo de Vito Piscicelli is experienced in large, complex, multi-jurisdictional transactions and Giuseppe Scassellati-Sforzolini is noted for financial services regulation.

Key clients





CJ CheilJedang


Ferrovie dello Stato Italiane




American Express



Crédit Agricole Corporate and Investment Bank

Work highlights

  • Advised CJ CheilJedang, a subsidiary of the CJ Group, on the senior bank financing for its $1.8bn acquisition of a controlling stake in Schwan’​s Co, a US-based frozen food company.
  • Acted for Honeywell International (Honeywell) on senior secured credit facilities and bond financings surrounding the spinoff of Honeywell’s transportation services business, Garrett Motion.
  • Advised GiVi Holding on a number of complex financial matters surrounding the sale of Versace to Michael Kors Holdings.


Dentons advises on a range of domestic and cross-border transactions. Alessandro Fosco Fagotto is active in acquisition, leveraged, structured and real estate finance, general corporate lending and refinancing; Fagotto heads the Italy banking and finance team, which is also experienced in project finance involving electricity, water, energy, and transport concessions, and banking regulatory matters. Giovanni Diotallevi is a project finance expert and managing counsel Dina Collepardi assists with corporate lending and acquisition and real estate finance.

Practice head(s):

Alessandro Fosco Fagotto


Dentons’ dedicated team stands out for its ability to involve diverse practice areas for innovative finance deals’.

Dentons is very responsive and approaches matters in a less traditional manner than most other Italian firms.

Key clients

Savills SGR






Maire Tecnimont

Work highlights

  • Advised Kirey on senior secured financing, which was granted by Banco BPM and Crédit Agricole Cariparma for the acquisition of the entire share capital of both MPM Software SL and Bridge Consulting.
  • Acted for Maire Tecnimont and Tecnimont on a €285m financing granted by a pool of banks.
  • Advsied KKR-backed Calsonic Kansei (CK) on the financing for CK’s €6.2bn acquisition of Magneti Marelli, the Italy-based automotive components business of Fiat Chrysler Automobiles.

Freshfields Bruckhaus Deringer

Gatti Pavesi Bianchi

Gatti Pavesi Bianchi recently hired Marc-Alexandre Courtejoie, who is experienced in the lending and structured finance space, from Paul Hastings LLP's former Milan office. The team is particularly focused on property and acquisition finance as well as general lending for corporate purposes. Other areas are asset and export finance, leasing and project finance. Andrea Limongelli is a banking and finance and debt restructuring specialist.


Shows great willingness but above all the ability to adapt to the needs and size of the company. The competence of the firm is high and similar to that of other large firms but clients always have the possibility of direct dialogue with the partner in charge.

Andrea Limongelli is a professional, competent and very helpful person.

Key clients

Gruppo Zoppas Industries

Percassi Group

Favini Group

Intesa SanPaolo

Stilo Group




Armònia Italy Fund

Fondazione Fiera Milano

Work highlights

  • Advised Ente Autonomo Fondazione Fiera Internazionale di Milano on a number of matters, including a €75m medium long-term facility agreement entered into with Banca IMI, IntesaSanpaolo, UniCredit and Banca Popolare di Milano.
  • Acted for Orsero Group on its medium long-term €60m loan with a pool of banks, comprising Banca IMI, Intesa Sanpaolo, Banco BPM, CréditAgricole – Carispezia, Caixa Bank and Banco Santander.
  • Advised Alpitour on a €40m medium-term facility granted by BNP Paribas and Crédit Agricole Cariparma.

Giliberti Triscornia e Associati

Giliberti Triscornia e Associati's banking and finance department leverages the strength of the firm's private equity expertise. It is experienced in assisting with bilateral and syndicated acquisition financing and leveraged financing, along with project and real estate finance, and refinancing. Carmine Oncia acts on credit facility, restructuring and syndication agreements; and Federico Fischer's clients include investments funds, industrial corporations, and real estate companies and foreign investors.

Practice head(s):

Carmine Oncia; Federico Fischer

Key clients



Banca Monte dei Paschi di Siena MPS

Société Générale






Banca Privata Leasing

Work highlights

  • Advised Aedes on an €80m real estate financing.
  • Acted for Irideos, a F2i portfolio company, on the refinancing of its financial indebtedness.
  • Assisted Salini Impregilo with a €700m financing surrounding its acquisition of Astaldi Group.

Hogan Lovells International LLP

Hogan Lovells International LLP's borrower practice advises on complex financing transactions and innovative PPP structures. It is particularly focused on the real estate, energy, healthcare and life sciences sectors. Carlo Massini's work includes corporate, acquisition, asset, real estate and project finance.

Practice head(s):

Carlo Massini

Key clients

Forno D’Asolo

Dana Incorporated

Work highlights

  • Advised a primary domestic investor and developer of renewable energy projects on a project financing in Latin America.
  • Acted for an international private equity investor on the financing of the acquisition of a group of four manufacturing companies in the textiles sector.
  • Advised a multinational corporate group, which specialises in the manufacturing of ventilation systems, on its group debt refinancing.

Orrick, Herrington & Sutcliffe

Orrick, Herrington & Sutcliffe fields a team of US, UK and Italian law specialists, who advise on syndicated and mezzanine loans, development, corporate, acquisition and leveraged finance, and debt restructuring. Patrizio Messina is a structured finance expert and Madeleine Horrocks' practice includes finance deals in the African off-grid energy sector. General lending and corporate finance expert Marina Balzano was hired in 2019 from Pavia e Ansaldo.

Pavia e Ansaldo

Pavia e Ansaldo stands out for its mid-market expertise. It regularly advises corporates and asset management, private equity and real estate investment companies on acquisition financing mandates. The team also fields experts in healthcare sector financing. Mario Di Giulio has Africa-related banking and finance expertise, as well as knowledge of regional, Italian and EU legislation in relation to borrowers. Roberto Zanchi regularly advises financial services companies, Italian and foreign private equity funds and multinational corporations.

Practice head(s):

Mario Di Giulio; Roberto Zanchi

Key clients

Aedes Real Estate SGR

Alcedo SGR

Cassa Depositi e Prestiti


Equita Private Debt Fund

First Growth Real Estate

Fondazione IDIS – Città della Scienza

Gruppo Vallette-Finam

ICCREA Banca Impresa

Investire SGR

Surfaces Technological Abrasives

Tecno Pool

Xenon Private Equity

Work highlights

  • Advised Relife, BNF, CBM, Benfante and Ecolfer on a medium long-term facility agreement.
  • Acted for Xenon Private Equity on a short and medium-long term facility agreement.
  • Advised InvestiRE SGR on a €91m real estate financing provided by a French bank.

Pedersoli Studio Legale

Pedersoli Studio Legale's department is led by Maura Magioncalda, who acts for private equity houses and industrial groups. It is best known for acquisition and corporate finance transactions. The practice also acts on real estate finance.

Practice head(s):

Maura Magioncalda

Key clients

Shareholders of FIMEI (Recordati)

Europe Hotel Private Collection Group

Rimorchiatori Mediterranei

FCA Italy


Work highlights

  • Advised SMB Milan Holdings on a finance deal surrounding the refurbishment and development of a building, as well as the refinancing of an existing long-term debt.
  • Assisted Alpha Private Equity Fund 7 with the finance aspects of the acquisition of a majority stake in Calligaris, an Italy-based manufacturer and distributor of high-quality living and dining furniture.
  • Advised Rimorchiatori Mediterranei on a financing granted by Banca Monte dei Paschi di Siena for the acquisition of Capieci Navigazione, Rimorchiatori e Salvataggio.

Bird & Bird

Bird & Bird has a strong track record in energy and infrastructure-related project finance. The banking practice is also experienced in M&A and restructuring-related acquisition financing. Recently hired from Studio Legale Associato a Watson Farley & Williams, Pierpaolo Mastromarini advises on energy-related financing and refinancing deals, and Alberto Salvadè has experience of turnaround and restructuring transactions.

Key clients



Trina Solar

Falck Group

Green Utility

Pavia Acque



Fri-el Green Power

Work highlights

  • Advised Aquapur on a loan granted by a pool of Italian banks for the financing of a water purification plant.
  • Acted for Cubico Sustainable Investments on a €75m refinancing with Crédit Agricole e Société Générale of 14 solar assets.

CBA Studio Legale e Tributario

CBA Studio Legale e Tributario specialises in shipping, real estate, project and structured finance transactions, and regularly acts on cross-border financings. The practice also enjoys strong relationships with major Italian borrowers in the energy sector. Francesco Dialti's clients include corporations and investors.

Practice head(s):

Francesco Dialti


A professional, outstanding and experienced team that is hardworking, knowledgeable and very constructive. It offers excellent value for money.

Francesco Dialti has a solid background in contract negotiations that is of massive value. He is reliable, determined and well organised, and always up to date on the most recent case law.

Key clients

Caronte & Tourist

Kryalos SGR

Falck Renewables

Work highlights

  • Advised H. I. G. Capital on the Italian law aspects of a financing granted by Apera Asset Management.
  • Acting for Caronte & Tourist on a financing granted by Banca Popolare di Milano.


CMS was recently involved in several financing and refinancing, acquisition finance and debt restructuring transactions. The practice assists group companies with structuring complex finance deals, negotiating standard sets of documents to align them to Italian law and practice, and day-to-day banking operations. Paolo Bonolis has considerable experience in banking and financial transactions.

Practice head(s):

Paolo Bonolis

Key clients




Columna Capital

Pilosio Group

Work highlights

  • Advised Immobiliare Roma on the restructuring of its bank debt.
  • Acted for CGF Costruzioni Generali on its indebtedness-related restructuring.
  • Advised Novelis on a refinancing transaction involving its acquisition of Aleris Corporation, a global supplier of rolled aluminium products.


DWF is primarily focused on acquisition, real estate and project finance. The team also assists with structured finance and other debt finance-related matters. Michele Cicchetti frequently advises on energy project and acquisition financings, and acts for private equity investors and international sponsors on leveraged finance.

Key clients

VAM Investments Fund

Astraco Fund

Eisvogel Group

DMG Mori


Dr. Rothenberger Holding

FidEnergy Ventures


Finanziaria Internazionale SGR


Work highlights

  • Advised Dr. Rothenberger Holding on the financing for the acquisition of Röhm.
  • Advised Gildemeister energy solutions on the financing of a major solar power construction project.
  • Assisted the Eisvogel Group with the financing provided by Deutsche Bank and Iccrea Bancaimpresa for the acquisition of the Prisma Group.

Giovannelli e Associati Studio Legale

Giovannelli e Associati Studio Legale fields lawyers who have accrued experience at both Italian and international law firms. The practice covers acquisition finance, security packages and financial covenant resets. It is also sought after for debt restructuring advice. Michele Mocarelli advises both industrial groups and private equity funds at national and international level.

Key clients

AKNO Business Parks

Car World Italia

Campus Srl

White Bridge Investments


I Giardini Delle Pleiadi

Gruppo Fenix



Work highlights

  • Advised Merlata Mall on the financing for the development of a commercial centre.
  • Assisted Akno Business Parks with the grant funding to support three real estate developments.

K&L Gates

K&L Gates hired financing and restructuring specialist Fabrizio Dotti in 2018 from Simmons & Simmons as department leader; and in 2019, the firm recruited debt restructuring expert Paolo Rusconi from Studio Legale RCCD. Acting for private equity businesses, real estate and credit funds, trustees, multinational corporations and growth and middle-market companies, the practice also covers acquisition, asset and real estate finance, refinancing, and corporate and syndicated lending.

Practice head(s):

Fabrizio Dotti

Key clients


Savills Investment Management

DeA Capital Real Estate

Global Consolidated Aesthetics Group

LKQ Corporation

Work highlights

  • Assisted real estate investment fund Laurus, which is managed by DeA Capital Real Estate SGR, with its €100m borrowing from an Italian securitisation special purpose vehicle.
  • Advised Savills, as asset manager of real estate investment fund Value Add II, on its borrowing for the acquisition of a building in the centre of Milan.
  • Acted for Global Consolidated Aesthetics Group on a $88m multi-jurisdictional financing transaction.

McDermott Will & Emery Studio Legale Associato

McDermott Will & Emery Studio Legale Associato is strategically focused on real estate finance matters. Additional areas of strength are structured, acquisition, leveraged and corporate finance, NPLs and restructuring. Clients also benefit from the firm's expertise in energy and infrastructure, corporate governance, M&A, litigation and tax. Giancarlo Castorino is a structured finance specialist.

Practice head(s):

Giancarlo Castorino

Key clients

Apollo Global Management

Principia SGR

Palamon Capital Partners

Serenissima SGR

Orsingher Ortu – Avvocati Associati

Orsingher Ortu – Avvocati Associati's Manfredi Leanza 's expertise covers acquisition, real estate and energy project finance, along with restructuring. The team also advises on the multi-jurisdictional elements of such transactions.

Practice head(s):

Manfredi Leanza


Equipped with an excellent knowledge of the market and of the sector – the team is a valid partner in the resolution of the most complex issues.

Very skilled professionals who have excellent interpersonal skills with counterparts and legal counterparts. They are highly committed, precise and act in the best interests of the client.

The practice, particularly Manfredi Leanza, has deep knowledge  of finance matters.

Manfredi Leanza deserves a special mention for his significant experience and speed in identifying even the most complex problems.

Key clients


Antares Vision


Coima SGR

Prelios SGR


Royal Caribbean

Delta Galil



Centurion Global

Work highlights

  • Advised Antares Vision on medium to long-term facility agreements.
  • Acted for Rigoni di Asiago on the refinancing of existing financial indebtedness.
  • Advised Coima SGR, as managing company of the Italian real estate fund Coima Logistics Fund I, on the restructuring of financial indebtedness.

Osborne Clarke

Known for its lender-side practice, Osborne Clarke also has strong borrower-side credentials. It advises investment funds and private equity houses on the funding for purchases of companies and real estate assets. The team, led by Andrea Pinto, is also active in energy and infrastructure project finance. Debt finance and restructuring specialist Federica Greggio is now based in Milan.

Practice head(s):

Andrea Pinto

Key clients

Antirion SGR

Thor Equities


Assietta PE SGR

Work highlights

  • Advised asset manager Antirion SGR on a €135m loan, which was made available by ING Real Estate Finance Italia and Bayerische Landesbank.
  • Acted for Milan-based private equity house, Assietta PE, on financing its acquisition of product-handling equipment manufacturer, Sarg.
  • Advised investment managers, Thor Equities and Invesco, on the €115m refinancing by Natixis of a prestigious commercial property in Milan.

Shearman & Sterling LLP

Shearman & Sterling LLP's Valerio Fontanesi's practice covers leveraged, real estate and structured finance and distressed investments. His experience includes devising previously untested lending and investment structures. Fontanesi assisted with the debt refinancing surrounding a large portfolio of logistic assets in Italy.

Studio Legale Associato a Watson Farley & Williams

Studio Legale Associato a Watson Farley & Williams's services centre around the firm's core sectors of energy, transport and real estate. The team advises on project, asset, acquisition and real estate finance, syndicated lending, and lending-related debt restructuring and receivables finance. Furio Samela is a shipping finance expert, and Mario D’Ovidio specialises in asset-based financing in the real estate, transportation and sports sectors.

Practice head(s):

Furio Samela; Mario D’Ovidio


This is a team of lawyers that is fully devoted to its clients and does its very best to achieve results.

A very experienced practice with a friendly and fair approach.

Key clients

Blue Elephant Energy

Tages Capital

Delos Power Group

Taconic Capital

Rgreen Invest

Fratelli Neri



Rimorchiatori Riuniti


Work highlights

  • Advised Italian shipowner Navigazione Montanari on the refinancing and sale-and-leaseback of 11 vessels.
  • Acted for Tages Helios and Gruppo Delos Power on the refinancing, through project financing, of a photovoltaic portfolio.
  • Advised Blue Elephant Energy on a solar portfolio refinancing.