Steven Sandretto > Baker McKenzie LLP > New York, United States > Lawyer Profile

Baker McKenzie LLP has long enjoyd an all-but-unrivalled presence on the ground in Latin America, but the hire of a senior team led by the much-celebrated Michael Fitzgerald from Paul Hastings LLP in 2023, has nevertheless made a considerable difference to its standing – as well as significantly augmenting its New York office. The group has made a particular impression in restructurings and bankruptcies, including the use of exchange offers. It is also active in a range of new money financings, including sustainability-linked loans. Although the high-profile New York-based team is primarily focused on Mexico, it is working with the wider firm to target Colombia, Brazil, Argentina and Peru to a greater degree. Along with Fitzgerald, Arturo Carrillo and Joy Gallup have a fine record in liability management exercises and debt restructurings, with Pedro Reyes and Steven Sandretto (who joined from Greenberg Traurig LLP in 2023 and previously worked with the legacy Paul Hastings LLP group), providing additional senior expertise.

Baker McKenzie LLP established a formidable Latin America capital markets team in 2023 with the hire of Michael Fitzgerald, a doyen in the sector, and a senior team from Paul Hastings LLP. The group has maintained its legacy status with a series of major engagements in Mexico, including two headline IPOs. The team’s activity levels have been buoyed by Mexico’s FIBRA sector (Mexico’s version of a REIT) and the nation’s burgeoning nearshoring industry; it advised the underwriters on Fibra Uno’s split off of its logistics operations to form Fibra Next, involving a $1bn IPO, the largest out of Mexico in ten years. Moreover, it has expanded its presence in sustainability-linked and green bond offerings, a speciality for Joy Gallup, who is also active in de-SPAC transactions. The New York-based group is working with the firm’s multiple offices around the region to target a greater swathe of issuers outside of Mexico. Arturo Carrillo is another key partner, along with Pedro Reyes and Brazil specialist Steven Sandretto, who joined from Greenberg Traurig LLP in 2023. All named individuals are based in New York.