The ‘excellent’ private equity practice at Magic Circle firm Clifford Chance serves as ‘a one-stop shop', guiding clients through the full array of relevant matters, including fund structuring and acquisition finance. Javier Amantegui heads the local practice and was also recently appointed as lead of the firm’s European financial investors practice; he is particularly knowledgeable of the infrastructure sector and is supported by banking, energy and natural resources industry specialist Samir Azzouzi. The team also enjoys notable depth beyond partner level, where Javier Hermosilla is developing a first-rate reputation for consumer, goods and retail sector-related deals, and fellow senior associate Jorge Martín has played a pivotal role on an abundance of standout transactions in recent months. The department has also overseen a handful of prominent transactions within the TMT field recently, and caters to an expansive roster of sovereign wealth, pension and specialist infrastructure funds, in addition to private equity houses.

Uría Menéndez provides a full-service private equity service, supporting on fund formation, fundraising, equity investment, debt financing and divestment matters, among others. In addition to its comprehensive domestic activities, the firm is a go-to for transactions pertaining to the Latin American market, fielding 380 lawyers and six offices in the region. The team also often operates in close collaboration with its colleagues in the New York, London and Brussels offices, and includes Christian Hoedl, a market veteran who holds a distinct track record in quoted company deals. Francisco San Miguel caters to local and international players involved in large and mid-market transactions; he co-heads the team alongside Manuel Echenique, who complements his transactional capabilities with expertise in structured, acquisition and project finance.

Allen & Overy, one of the Magic Circle firms, is home to ‘great practical knowledge of M&A operations in the area of private equity’. Iñigo Del Val demonstrates a notable track record in representing some of the market’s largest fund investors and private equity houses, supporting them on both traditional and venture capital investments. Ignacio Hornedo co-heads the practice alongside Del Val, and the pair are particularly proficient when it comes to deals in the real estate, energy and infrastructure sectors.

Garrigues is able to deploy its offices across Madrid, Lisbon, London, Brussels, Morocco, China and New York to serve the entire spectrum of private equity players, from prominent international sponsors through to local mid-market funds. Team head José Manuel Martín demonstrates a strong capacity to manage some of the market’s largest deals, including leveraged buyouts, and is supported by Àlvaro López-Jorrín, who is especially well versed in the financial services sector. Elsewhere, María Fernández-Picazo is a specialist on both the transactional and fundraising fronts, with considerable experience in leveraged finance, MBIs and MBOs, while José Luis Ortín provides the team with considerable knowledge of venture capital and secondary market investments. Félix Ferreño was recently promoted to partner and excels at all stages of the investment lifecycle.

Latham & Watkins LLP, an international firm headquartered in the US, guides investment funds and private equity houses through their activities in a variety of sectors, including real estate, technology, financial services and industrial manufacturing. Ignacio Pallarés is often instructed by global funds in respect of their inward investments into Spanish entities; his team includes José Antonio Sánchez-Dafos, a lawyer with strong ties to the Portuguese market, as well as Ignacio Gómez-Sancha, whose key strengths include restructurings and special situations.

Leveraging its presence in Madrid, Barcelona, New York and London, Pérez-Llorca is geared to handle all stages of significant private equity transactions; its lawyers support on fundraising, transaction structuring, due diligence and shareholders’ agreements, among other matters, and excel across the full array of transaction types, including competitive tender, public-to-private, LBO, MBO, MBI and divestment deals. Pablo González Mosqueira leads the practice, which counts hedge, private equity, real estate and investment funds among its clients, in addition to investment funds involved in distressed deals.

DLA Piper has recently employed its broad geographical footprint to act on matters pertaining to Belgium, Italy, France, Germany, the Netherlands, Peru, the UK and the US, among other jurisdictions. José María Gil-Robles serves as practice head and is adept in a wide range of matters, including the tax and legal structuring of investments, due diligence processes and transaction-related agreements. Clients include private equity investors, hedge funds, management teams, debt providers and portfolio companies, which rely on the group for its full-service offering, which also covers refinancing and debt restructuring affairs. Teresa Zueco left the firm in November 2021.

Gómez-Acebo & Pombo fields a dedicated private equity and venture capital department, which routinely supports on the full life-cycle of investments, including fund formation, finance and tax structuring. The practice is led by Iñigo Erláiz, a ‘magnificent lawyer’, who represents both sponsors and target companies in a wealth of deal types including PIPEs, MBOs and LBOs. Augusto Piñel has distinguished experience in advising distressed funds, and is also a go-to for investments into listed companies, while the recently promoted Pablo Fernández Cortijo is carving out a reputation for his work on hybrid structures.

Multinational firm Hogan Lovells International LLP is engaged by a broad range of industry players including private equity houses and alternative asset managers in addition to international, real estate, debt, pension and infrastructure funds. Graciela Llaneza helms the practice and is especially accomplished in the consumer, financial services, healthcare and energy fields; the wider team is also well versed in a number of other regulated industries such as TMT, transport, insurance and education.

Dentons stands out for its combination of fund formation and transactional expertise. With a broad practice, the firm covers acquisition structuring, exit strategy and secondary sale matters, among other matters. Other points of differentiation include Jesús Durán’s specialist knowledge of transactional insurance, as well as the expertise that Fernando Gutierrez has developed on the regulatory front; the pair jointly lead the team, which is especially knowledgeable of the infrastructure, energy and real estate sectors.

Eversheds Sutherland draws from its corporate, M&A, tax, employment, litigation and competition practice to deliver a comprehensive private equity service. The team, which is led by Sixto de la Calle, balances a broad caseload, which encompasses asset, company and business unit acquisitions, LBOs, MBOs and financings in addition to advice to start-ups and venture capital firms. One of its key points of differentiation is its proficiency in asset transactions outside of the mainstream classes; examples include car parks, solar plants, testing laboratories, supermarket chains and transport companies.

At EY Abogados, the team is equipped to guide funds from inception all the way through to dissolution or disposal. Its services include advice on alternative investment funds, crowd funding, debt and infrastructure fund and real estate law, in addition to a range of transactions such as MBOs, divestments and buy-outs. Since publication, Francisco Aldavero left the firm.

The ‘magnificent’ team Watson Farley & Williams LLP focuses the bulk of its attention on the energy sector. Practice head María Pilar García Guijarro is highly experienced in deals within the renewables, natural gas, electricity and infrastructure fields, operating across MBO, LBO, asset, portfolio and divestment transactions, among many others. The client roster is notably varied, encompassing private equity, pension, global infrastructure, investment, closed-end and dedicated funds.