Firm Profile > Proskauer Rose LLP > London , England

Proskauer Rose LLP
110 BISHOPSGATE
LONDON
EC2N 4AY
England

Private funds Tier 2

Strong expertise in the secondaries market is the hallmark of the private funds practice at Proskauer Rose LLP, which is led by 'trusted adviser' Nigel Van Zyl. In addition to assisting clients with fund restructurings and acquiring and selling portfolios, the firm's fund formation instructions constitute approximately 65% of its private funds offering. While some of these are from large, well-established managers, the team is becoming a particular favourite of first-time fund manager clients (especially those that have spun out from prior firms). Although GP-side work forms most of the practice, the firm advises over 100 Limited Partners (LPs) globally, ensuring a breadth of market knowledge. Kate Simpson is a name to note, having led on a structured  transaction for Investcorp involving the sale and transfer of $185m worth of assets to a new fund. Also recommended for his specialist secondaries expertise is Bruno Bertrand-Delfau. Although Andrew Shore departed for Kirkland & Ellis International LLP in February 2019, Proskauer Rose LLP moved to rebuild with the hire of Leith Moghli from Reed Smith LLP in August of the same year. Brendan Gallen joined as special counsel from Fried, Frank, Harris, Shriver & Jacobson LLP in the same month, while Warren Allan, who focuses on private funds, including private real estate funds, joined from Stephenson Harwood in September 2019.

Testimonials

Strong team who always go the extra mile to deliver top quality service‘.

Nigel Van Zyl has the adeptness to successfully navigate even the most challenging negotiations‘.

Kate Simpson is a dedicated and knowledgeable partner‘.

‘Warren Allan has an excellent grasp of the detail, a highly constructive approach, is well organised and has a good legal mind. He has good empathy with clients and is a great problem-solver.’

Key clients

Hg

Ardian

Schroder Adveq

Silverfleet Capital Partners

Gilde Buy Out Partners

G Square Health Care Private Equity

Apiary Capital

GIC

Adams Street Partners

M&G Investment Management Limited

Litorina

Aberdeen Standard Investments

EMK Capital

Pomona Capital

High yield Tier 3

'The high yield team in London stands out for its quality of service and expertise and we regularly work with the firm on some of the largest transactions in Europe', says a client of Proskauer Rose LLP. The firm has an integrated high yield debt practice in London and the US, and it advises leading issuers, underwriters and global financial institutions on some of the biggest deals in the market. In 2018, this included one of the largest high yield bonds by a Spanish issuer. 'Top-class lawyer' Maximillian Kirchner leads the firm's European high yield practice and clients remark that he is 'very commercial and efficiently manages complex and innovative deals on tight timelines'.

Leading individuals

Testimonials

“We have built a long-standing and trusted relationship with the team, which is very commercial and business-oriented and, compared to larger firms in London, is a true partner. It provides dedicated partner involvement on every transaction.”

“Maximilian Kirchner is highly experienced, has outstanding technical skills and an excellent understanding of the market. He provides invaluable strategic advice and always ensures that we obtain the best outcome on a deal.”

“Proskauer has a premier practice in London advising asset managers on European, US and Asian high yield transactions, and it has significant experience with complex deals involving multiple jurisdictions.”

“Proskauer’s London office has a top-notch team with significant industry expertise, in particular based on the firm’s strength around US-style high yield bond execution.”

“In contrast to other firms, Proskauer has a boutique approach with partners that are ‘hands-on’ and very involved in the transaction from kick-off to closing of the deal. In the high-yield space, it provides the best value for money.”

“Maximilian Kirchner has a very deep understanding of the high yield product and is exceptionally hardworking and responsive. The quality of his work is outstanding, and he is very efficient when it comes to cost control.”

“In addition to his excellent skillset in executing complex high yield bond deals, Maximilian Kirchner has the ability to provide top-notch guidance during the structuring and execution of deals.”

“Extremely hard working, always available and very responsive. The firm has deep capital markets knowledge and insight that is helpful in negotiations because the lawyers know the details of previous deals in the market, which ensures negotiations move along quickly and on the best terms available.”

“The London team provides top-quality service for a reasonable price. It is one of our favourite law firms to work with on complex cross-border capital markets or high yield matters, and we have built a long-standing relationship and trust with them.”

“We have found the Proskauer team, in addition to merely being competent, to be both exceptionally creative and commercial when it comes to approaching deals, and willing to work constructively to overcome challenges.”

“Max Kirchner is the partner with whom we have worked most closely. He is a resourceful lawyer with a strong commercial sense, and has been a valuable source of counsel to us in thinking about deal structuring. He has an excellent command of high yield debt and other leveraged finance products.”

Key clients

Grifols

Deutsche Bank

Jefferies

Guitar Center

William Blair & Company

Acquisition finance Tier 4

The 'technically and commercially strong' three-partner team at Proskauer Rose LLP has a 'fantastic reputation' in the alternative lending space among many of the most active credit funds in the market, including Ares and BlueBay. Benefiting from excellent bandwidth across the spectrum of credit fund debt products, the team's market insight (gleaned from vast deal flow) has led to it being consulted to provide input in working party discussions on the development of a new template form of intercreditor agreement for unitranche financings with the Loan Market Association, the syndicated loan market authority in Europe. 'Very responsive and strong' co-head Alex Griffith  is one 'the most prominent practitioners in the mid-market credit fund space'.

Leading individuals

Testimonials

The team has a dedicated focus on credit funds and is therefore able to recognise and cater to their unique needs and preferences.

Alex Griffith and Daniel Hendon are very strong and great to work with.

Faisal Ramzan stands out because of his commercial sense for what is important versus what is not, and at the same time is pleasant even during the toughest negotiations.

Key clients

Alcentra

Apollo

Ardian

Ares Management

Bain Capital Credit

Barings

BlackRock

BlueBay Asset Management

Cheyne

CORDET Capital

EQT Credit

GIC

Global Risk Partners Group

LGT European Capital

HPS

Intermediate Capital Group

M&G Investments

Muzinich & Co

Tikehau Investment Management

TPG Sixth Street Partners

Varde Partners

Commercial property: hotels and leisure Tier 4

At Proskauer Rose LLP, the hospitality team routinely act on M&A, management agreements, mixed-use developments alongside the full range of real estate matters. Headed by Joanne Owen, the practice directs particular attention to hotel transactions across Europe, Asia, Latin America and the firm's domestic US market. On the investment side, the group represents private equity houses, sovereign wealth funds, asset managers and private investors on a broad array of cross-border mandates.

Testimonials

‘They are thorough and understand the client’s business’.

‘They always take time to explain the process’.

Key clients

The Blackstone Group

Global Loan Agency Services Limited

GVC

Magnificent Estates

Meteorite Manchester Limited

Motel One (UK) Limited

Park Holidays UK Limited

Sky Betting & Gaming senior executives

Corporate restructuring & insolvency Tier 5

Led by the 'pragmatic and thoughtfulMark FennessyProskauer Rose LLP 's three-partner team 'punches well above its weight' and regularly picks up mandates for key stakeholders in major international non-contentious and contentious matters. Fennessy is 'very knowledgeable and experienced in complex workout scenarios and large insolvencies', including his high-profile work alongside the firm's US offices for the unsecured claims committee in relation to the insolvency of Westinghouse Electric Corporation. The London team is also picking up a significant amount of mandates from its highly regarded direct lending team, including in relation to enforcement work for numerous funds that made loans into the retail space.

Leading individuals

Testimonials

‘At the top of their game, the team provides commercial, responsive, highly knowledgeable and technical expertise.’

‘The team provides innovative, insightful and bold advice.’

‘The first-rate Mark Fennessy is a leader in the field of cross-border complex restructuring matters.’

‘Crispin Daly is a committed adviser and provides technical and strategic skills.’

‘Sunay Radia is very attentive and responsive.’

Key clients

BDO

Cheyne Capital

Contrarian Capital

David Rubin & Partners

EY

Global Loan Agency Services (GLAS)

HSBC

Itau and other Brazilian banks

Lion Capital

Reichmuth

Westinghouse

ZCP

PennantPark

Intermediate Capital Group

National Basketball Association

National Football League

Calunius

Corporate tax Tier 5

Proskauer Rose LLP is geared towards advising funds and asset managers on across all of their tax issues, with the team drawing on strong cross-practice cooperation with the corporate, banking and real estate practices. As a US-headquartered firm, the tax team is well-placed to advise on transatlantic deals. Department head Robert Gaut's practice spans complex corporate tax structuring, real estate tax counsel and fund formation taxation. Matt Pincus, who joined from Debevoise & Plimpton LLP in 2018, is a go-to name for US tax issues.

Testimonials

The team brings unique insights into the PE environment amid a flood of new legislation impacting the industry

Stephen Pevsner is the go-to person on complicated tax matters impacting portfolio groups, management and certain fund matters

Mary Kuusisto is insightful, thoughtful, and offers great advice

Key clients

Formosa International Hotels Corporation

BerryWorld

ICG

ScaleVP

Apiary Capital

Lion Capital

Investcorp

Private equity: transactions – high-value deals (£250m+) Tier 5

Proskauer Rose LLP's City buyout team is a new entrant to the ranking after winning a number of new clients including Corsair Capital, Aleph Capital Partners and Crestview Partners. Approximately 40% of the PE team's recent mandates have come from these new clients, highlighting the development of the practice, which focuses on mid-market work but also advises management on higher-value deals. Highlights include Andrew Wingfield advising Corsair on its acquisition of ZEDRA Group, a deal that involved managing foreign counsel in more than 16 different jurisdictions. New arrival Richard Bull joined from Norton Rose Fulbright in March 2018. Head of team Steven Davis is highly recommended .

Leading individuals

Key clients

Corsair Capital

Aleph Capital Partners & Crestview Partners

AnaCap Financial Partners

Lion Capital

Investcorp

Rubicon Partners

Cheyne Capital

One Peak Partners

Azelis S.A (representing executive shareholders)

Preservation Capital

Deliveroo

Morgan Stanley Expansion Capital

Motive Partners

APG Real Estate

Toscafund Asset Management

Employment: employers Tier 6

Proskauer Rose LLP handles a broad range of work on behalf of employers and employees alike, including employment matters relating to corporate transactions, contract interpretation issues and whistleblower claims, among others. 'Charismatic and clever' Daniel Ornstein - who leads the London practice and also co-heads the international group - advises on diversity and inclusion, social media use, employee investigations and the handling of disciplinary and grievance matters, and is 'loved' by clients. He works with associate Kelly McMullon to 'provide an exceptionally responsive service'.

Testimonials

‘The team is very knowledgeable and able to deliver excellent advice and to coordinate complex global employment law matters.’

‘Dan Ornstein is an exceptional and very talented leader of the team in London. They have a lot of experience in the financial services industry; I like their pragmatic approach very much in relation to dealing with (potential) separation scenarios. They understand that a proper handling of the situation requires much more than understanding the legal status quo.’

‘Dan Ornstein is charismatic and clever. The service that we get from Proskauer is excellent. They are quick to respond, extremely helpful and very nice to deal with. They go above and beyond in order to ensure a proper resolution to a situation.’

‘Dan Ornstein is an extremely bright and articulate lawyer who is always able to find creative solutions. His advice is always spot-on, and he is great to work with.’

‘I like to work with Dan Ornstein very very much. He is outstanding. His vast experience in cross border matters, complex situation is always very helpful. He is a very smart and funny guy. Clients just love him.’

‘Dan Ornstein is very experienced and has good commercial insight. He is a straight shooter.’

‘Daniel Ornstein and Kelly McMullon provide an exceptionally responsive service and are always very pleasant to deal with. They take care to outline things and to ensure that a situation is properly understood.’

M&A: upper mid-market and premium deals, £500m+ Tier 6

Proskauer Rose LLP's corporate practice focuses on M&A work for multi-asset fund managers, across the high-end and mid-market spaces. Key matters involve advising sovereign wealth funds, executive management sellers, private equity houses and growth capital clients. Practice head Steven Davis focuses on corporate M&A work within the consumer retail, industrial and healthcare sectors, and he advises both public and private companies in these areas. Additional sector specialisms include financial services and technology, led by Andrew Wingfield and Richard Bull respectively; Bull was a recent hire from Norton Rose Fulbright, who brought with him  a private equity-focused practice with experience advising financial services and technology clients.

Testimonials

Consistently great support enabling us to reach the right outcomes.’

‘A pleasure to work with at all times & my ‘go-to’ advisers

Always get the right balance between being pragmatic and commercial whilst ensuring the risks are adequately mitigated.’

They have the ability for each team member to step into the deal if one partner is unavailable; this was seamless in our case

Richard Bull always goes above and beyond what is expected. ‘

Key clients

Aleph Capital Partners LLP

AnaCap Financial Partners

Ares Capital Management

Ascot Lloyd

Azelis S.A (representing executive shareholders)

BlueBay Asset Management

Chetwood Financial Limited

Cheyne Capital

Corsair Capital

Crestview Partners

Deliveroo

Everledger Limited

Exponent Private Equity LLP

GIC

Intermediate Capital Group

Inflexion

Investcorp Technology

LetterOne

Lion Capital

Masthaven Bank

Morgan Stanley Expansion Capital

Motive Partners

Ocorian

One Peak Partners

Oaktree Capital Management

Partners Group

Preservation Capital Partners

Rubicon Partners

Toscafund Asset Management

Värde Partners

Sky Betting & Gaming

Proskauer is a leading international law firm focused on creating value, with roots that date back to its founding in 1875. With more than 725 lawyers active in virtually every major market worldwide, it is recognised not only for its legal excellence, but also its dedication to client service.

The firm: Proskauer acts as trusted advisor to many of the world’s top companies, financial institutions, investment funds, not-for-profit institutions, governmental entities and other organisations across industries and borders as well as entrepreneurs and other individuals.

The firm is commercially focused, with a robust entrepreneurial spirit running throughout its teams and work. This enables Proskauer both to fully understand the challenges facing clients and to take a business-oriented approach to client matters.

Proskauer’s London office offers both UK and US legal advice locally, with extensive experience in UK and European market practice. The office has a global reach, drawing on the firm’s capabilities in the US, Europe, Asia and Latin America as required, and is particularly strong in complex cross-border transactions.

Types of work undertaken: The London office specialises in these areas:

Private investment funds: fund structuring and capital-raising matters; investments; financings; exits; and related debt and restructuring issues.

Real estate: acquisitions, dispositions, financings and recapitalisations; real estate taxation (both domestic and cross-border); public, private and non-traded REITs; joint ventures; fund formations, roll-ups and spin-outs; creditors rights; bankruptcy and restructurings; and BDCs, among other highly specialised fields.

Mergers and acquisitions: mergers; acquisitions; management and other leveraged buyouts; dispositions; spin-offs; auctions; tender offers; proxy fights; joint ventures; partnerships; and strategic alliances.

Capital markets: high-yield and other debt; equity; alternative capital finance; equity-linked securities; real estate securities; tender and exchange offers; public-company representation; and broker-dealer.

Finance: leveraged finance; senior and senior-stretch loans; unitranche loans; second lien loans; mezzanine or subordinated notes; private high-yield notes; holdco notes; structured equity; equity kickers and co-investments; distressed lending (including debtor-in-possession and exit financings); and general corporate finance.

Restructuring and insolvency: acquisitions of financially distressed assets; asset sales; insolvency litigation; corporate investigations; creditors’ rights issues; cross-border and insurance insolvencies; financial and operational restructurings; hedge fund fraud and distress; liquidations; securitisations; and workouts.

Labour and employment: all aspects of trade union and collective labour law; employment law; complex cross-border trade union issues; large-scale redundancies; cross-border litigation; litigation before the High Court; and Employment Tribunal litigation.

Financial services regulation: UK and EU matters, including structuring and establishment of private investment funds; FCA authorisations; perimeter issues; EU passporting; current and proposed EU and international laws and regulations; conduct of business; financial promotions and marketing; client assets; regulatory capital; market abuse; systems and controls; appointed representatives and tied agents; anti-money laundering; changes of control and close links; and approved persons.

Tax: mergers; acquisitions; structuring of inward and cross-border investments; establishment of investment funds; joint ventures; restructurings; capital markets; and financing.

Department Name Email Telephone
Office head Mary Kuusisto
Photo Name Position Profile
 Warren Allan  photo Warren Allan
 Richard Bull  photo Richard Bull
 Peter Castellon  photo Peter Castellon
 Rob Day  photo Rob Day
 Mark Fennessy  photo Mark Fennessy
 Peter McGowan  photo Peter McGowan
 Stephen Pevsner  photo Stephen Pevsner
 Kate Simpson  photo Kate Simpson
 Andrew Wingfield  photo Andrew Wingfield
 Nigel van Zyl  photo Nigel van Zyl
Number of UK partners : 23
Number of other UK fee-earners : 47