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Shearman & Sterling LLP

535 MISSION STREET, 25TH FLOOR, SAN FRANCISCO, CA 94105-2997, USA
Tel:
Work +1 415 616 1100
Fax:
Fax +1 415 616 1199
Web:
www.shearman.com

United States

Real estate
Real estate - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP's real estate practice handles acquisitions and dispositions, local and global joint ventures, ground leases and commercial leasing. The firm also specializes in real estate-related finance matters such as structured finance, corporate credit facilities, lending, and the financing of REITs. Malcolm Montgomery¬†heads the team and recently acted for Citibank on Digital Realty Trust‚Äôs $3.26bn global revolving credit facility and term loans. Lisa Brill, who is ‚Äėan exemplary professional, 100% committed to her clients and always available‚Äô, advised AllianceBernstein on a $33m acquisition and pre-development loan. Another highlight included representing MetLife on its $225m mortgage loan and $156m mezzanine loan to Waterside Plaza Ground Lessee and Waterside Mezz respectively. The firm also advised GTIS Partners on a joint venture with Continental Realty Advisors and the related acquisition finance for the purchase of an apartment complex in Phoenix, Arizona. Kris Ferranti¬†focuses on the equity side of real estate transactions and represents foreign and domestic investors and developers. John Opar, associate Helen Quigley¬†and Washington DC-based counsel Jocelyn Redman¬†are also recommended. Counsel Michael Pettingill¬†joined from Silvermine Capital Management. Chris Smith¬†left for DLA Piper LLP (US). All named attorneys are based in New York unless otherwise stated.

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United States: Antitrust

Cartel
Cartel - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP's Djordje Petkoski, David Higbee and Ryan Shores in Washington DC are currently acting for major Japanese manufacturer Rubycon in a criminal DOJ investigation and associated civil and class action lawsuits. The firm has strong expertise in the financial sector, and New York partner Adam Hakki looks after clients such as Bank of America Merrill Lynch, BNP Paribas and Barclays; he is currently advising a leading financial institution on DOJ investigations into the equity trading market. On the West Coast, San Francisco-based Patrick Robbins is representing senior executives within foreign manufacturing companies in separate criminal DOJ investigations into alleged price-fixing practices in the technology and automotive sectors. Also notable are Washington's Todd Stenerson and New York's Jessica Delbaum, who are currently handling sensitive matters pertaining to 'no-poach' agreements and anti-competitive practices in the generic drugs space.

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Civil litigation/class actions: defense
Civil litigation/class actions: defense - ranked: tier 2

Shearman & Sterling LLP

The antitrust lawyers at Shearman & Sterling LLP are 'very practical, business-focused and all have excellent knowledge of the law'. The firm's client roster includes numerous household names in the financial sector and elsewhere. In a recent highlight, New York-based Adam Hakki has been acting for Bank of America as one of eight defendants in a class action claiming the group of financial institutions conspired to manipulate the London silver fix and fix the price of silver. On the manufacturing side, Djordje Petkoski, David Higbee, Ryan Shores and San Francisco's John Cove continue to advise Japanese manufacturer Rubycon in a DOJ criminal investigations as well as series of associated civil claims. Other key clients include Bank of Montreal, Bank of Nova Scotia, Equinor and Mizuho Securities. Ben Gris recently joined the team from the FTC. Named individuals are based in Washington DC unless otherwise stated.

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Merger control
Merger control - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP fields 'an elite team, confidently led by David Higbee', which 'sees around corners that other outfits just can't seem to'. New York's Jessica Delbaum 'is very proactive in her approach' and Ben Gris - who recently joined from the FTC - 'has a unique first-hand merger litigation experience and knows the regulators inside out'. The team advised LyondellBasell on its acquisition of high-performance material supplier A. Shulman, and assisted Glatfelter - led by Delbaum - with its acquisition of Georgie-Pacific's European nonwoven business. Also notable is of counsel Wayne Collins, who splits his time between New York and Washington DC, and is 'the rare kind of lawyer who is at home with regulators, CEOs, economists and can communicate on every level'. Gris and Higbee are based in Washington DC.

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United States: Dispute resolution

Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 3

Shearman & Sterling LLP

Corporate investigations and white-collar criminal defense: advice to individuals - ranked: tier 4

Shearman & Sterling LLP

Matters pertaining to the financial services industry constitute the core competency of the group at Shearman & Sterling LLP, which has substantial expertise in financial, securities and antitrust regulation. In a particular highlight, New York's Stuart Baskin and San Francisco's Patrick Robbins are acting as counsel to the independent directors of Wells Fargo in connection with an independent investigation into the bank's retail sales practices. In another key matter, Baskin and Stephen Fishbein (also based in New York) are assisting Citigroup with an internal investigation connected with US regulatory and enforcement inquiries into a $400m fraud perpetrated against the bank's Mexican unit. In terms of individual representations, the group is defending the former CFO of Logitech in a contested SEC enforcement action concerning alleged accounting irregularities. Adam Hakki, who jointly chairs the group alongside Fishbein and Robbins, is another practitioner to note.

Leading individuals: Corporate investigations and white-collar criminal defense: advice to corporates

Stephen Fishbein - Shearman & Sterling LLP

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Financial services litigation
Financial services litigation - ranked: tier 4

Shearman & Sterling LLP

Drawing upon expertise from within the firm's market-leading securities litigation team, as well as its broader commercial disputes and financial services regulatory offering, Shearman & Sterling LLP's multi-disciplinary New York-based group is involved in a significant amount of high-profile defendant work for an impressive roster of domestic and international investment banks, including BNP Paribas, Barclays, Goldman Sachs and Credit Suisse. Able to co-mingle its strong antitrust offering with securities litigation expertise, the firm has been involved in a plethora of financial services-related market manipulation matters. Adam Hakki and Richard Schwed continue to represent Bank of America in a slew of these cases, including as a defendant in separate class actions relating to the bank's alleged role in fixing prices relating to US dollar-denominated sovereign, supranational and agency bonds and the ISDAfix benchmark rate. Hakki has also taken the lead on the firm's ongoing work for Countrywide Financial in numerous MBS cases. As well as his work for underwriters as defendants in securities litigation, Daniel Lewis has also been a key member the team defending Countrywide against RMBS claims. Agnès Dunogué and Matthew Craner are also recommended.

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General commercial disputes
General commercial disputes - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP excels in financial services and commercial litigation making it a popular choice for leading financial institutions. The litigation practice extends beyond the US, with the team often handling cross-border matters and representing international companies. In recent work for Citigroup, the firm secured the dismissal of malicious prosecution, breach of contract and fraud claims filed in the Southern District of New York by Mexican company Oceanografía and its former CEO; Adam Hakki and Daniel Lewis were among the lead attorneys. In another highlight, Stuart Baskin and Jaculin Aaron secured the dismissal of a class and derivative action against client Viacom in the Delaware Court of Chancery. Richard Schwed is the global litigation practice group leader; other names to note include Paula Howell Anderson and Jeffrey Resetarits, both of whom have extensive complex commercial litigation experience.

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International arbitration
International arbitration - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP has sector strengths in energy, pharmaceuticals, and financial services. In New York, Henry Weisburg has particular expertise in cross-border financial litigation and arbitration matters, having recently represented thirteen investment companies in an ICC arbitration. Over in Washington DC, key members of the team include Christopher Ryan, who has a track record of representing government clients in ICC, UNCITRAL and ad-hoc tribunals, and Thomas Wilner, who specializes in international trade disputes.

Next Generation Partners

Daniel Reich - Shearman & Sterling LLP

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International litigation
International litigation - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP's 'impressive' client base spans multinational corporations and financial institutions on high-profile, and often cross-border matters including global investigations, Foreign Corrupt Practices Act (FCPA) matters and US-based litigation involving non-US entities. Global practice head Adam Hakki and deputy head of the litigation department Richard Schwed are both recommended for their expertise in securities class actions and banking litigation. In Washington DC, Christopher Ryan is acting for Yukos Oil Company in the enforcement of $50bn of arbitral awards from the Russian Federation after its expropriation of investments in the client. Other contacts include Henry Weisburg, who is noted for his expertise in cross-border financial disputes, and rising star Paula Anderson. All named individuals are based in New York unless otherwise stated.

Next Generation Partners

Paula Anderson - Shearman & Sterling LLP

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M&A litigation: defense
M&A litigation: defense - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP in New York is a prominent firm in the representation of financial institutions in deal-related litigation. It has a steady flow of post-closing cases, including representation of Daimler and its CEO in cases brought by former Chrysler executives claiming the company was liable for retirement benefits lost in Chrysler's bankruptcy following its divestiture from Daimler and subsequent sale to Cerberus. The US Supreme Court denied a petition for certiorari seeking review of the dismissal of the claims. The key partners are Alan Goudiss, Paula Anderson and K. Mallory Brennan, and clients describe Anderson as 'extremely helpful in working through the issues of a case and helping clients see the points objectively; her advice is measured, balance and timely'. Goudiss and Brennan acted for CVS in matters arising from its $69bn acquisition of Aetna. Global managing partner and head of litigation Adam Hakki, who defended a former CEO of Providence Service Corporation in shareholder derivative and class litigation in Delaware, is also recommended.

Next Generation Partners

K. Mallory Brennan - Shearman & Sterling LLP

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Securities litigation - defense
Securities litigation - defense - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP in New York has a securities litigation, investigation and enforcement practice that frequently represents US and non-US financial institutions, corporations, boards of directors, special committees, and individuals in high-stakes matters. Global managing partner and head of litigation Adam Hakki also co-chairs the securities and litigation and enforcement practice. Hakki and Patrick Robbins in San Francisco acted for the underwriters of SunEdison and TerraForm Global in multiple individual and class action lawsuits arising from SunEdison's bankruptcy, alleging 33 Act violations including failure to accurately disclose liquidity issues in the offering of securities. The case was partially dismissed in early 2018. The firm's deep bench of talent in New York includes Richard Schwed, who, with Hakki, secured the dismissal with prejudice of claims against Bank of America and other banks accused of manipulating the pricing benchmark for silver in London. Up-and-coming partner Agnès Dunogué is also recommended. Lyle Roberts, who handles litigation and regulatory enforcement actions, joined the Washington DC office from Cooley LLP.

Leading lawyers

Adam Hakki - Shearman & Sterling LLP

Next Generation Partners

Agnès Dunogué - Shearman & Sterling LLP

Daniel Lewis - Shearman & Sterling LLP

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United States: Finance

Capital markets: debt
Capital markets: debt - advice to issuers - ranked: tier 3

Shearman & Sterling LLP

Capital markets: debt offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP‚Äôs prominent underwriter-side expertise combines with its robust issuer-side practice to provide comprehensive coverage of debt capital markets matters, with strength in SEC-registered and private offerings, acquisition financings and liability management transactions. CVS Health turned to the firm¬†for assistance with its $40bn bond offering to support its acquisition of Aetna, which notably represented the third-largest corporate bond sale on record ‚ÄĒ Stephen Giove¬†led that work. In another issuer headline, Harald Halbhuber¬†advised Baker Hughes on its $3.9bn bond offering. On the bank side, Americas group head Jonathan DeSantis¬†advised the underwriters on Interpublic Group of Companies‚Äô $2bn notes offering. Jason Lehner, who splits his time between New York and Toronto, Merritt Johnson¬†and the ‚Äėvery knowledgeable‚Äô Lona Nallengara¬†are also recommended. All named lawyers are based in New York, unless otherwise stated.

Next Generation Partners

Merritt Johnson - Shearman & Sterling LLP

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Capital markets: equity offerings
Capital markets: equity offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: equity offerings - advice to managers - ranked: tier 2

Shearman & Sterling LLP

‚ÄėA global player in capital markets‚Äô, Shearman & Sterling LLP¬†impresses with its ‚Äėstrong involvement in Latin America-related transactions‚Äô and its ‚Äėgreat relationships with underwriters‚Äô. Key contacts include Ilir Mujalovic, who had a busy year advising various underwriters on a string of debut offerings, such as Axonics Modulation Technologies‚Äô $120m IPO and¬†Inspire Medical Systems‚Äô $124.2m IPO. Jason Lehner, who splits his time between Toronto and New York, advised the underwriters on ONEOK‚Äôs $1.2bn share offering.¬†In a high-profile issuer mandate, Harald Halbhuber¬†acted alongside the firm‚Äôs Sao Paulo office to assist PagSeguro Digital on its $2.6bn IPO on the NYSE. Jonathan DeSantis, who heads the capital markets practice for the Americas, and Merritt Johnson¬†are also noted. Named attorneys are based in New York, unless otherwise stated.

Next Generation Partners

Merritt Johnson - Shearman & Sterling LLP

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Capital markets: global offerings
Capital markets: global offerings - advice to issuers - ranked: tier 2

Shearman & Sterling LLP

Capital markets: global offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

‚ÄėA¬†respected name for global capital markets‚Äô, Shearman & Sterling LLP¬†‚Äėstands shoulder to shoulder with the best in Latin America‚Äô; particularly in Brazil, where sources highlight its ‚Äėgreat relationships with underwriters‚Äô. In a recent example of its regional strength, the firm advised Brazil‚Äôs PagSeguro Digital on its IPO and secondary offering on the NYSE,¬†which raised around $2.6bn ‚ÄĒ New York-based Harald Halbhuber¬†led that deal with support from the Sao Paulo office. The firm also sets itself apart through its Canada expertise. Recent work in that area included Jason Lehner, who splits his time between Toronto and New York, advising the underwriters on Ontario Teachers‚Äô Finance Trust‚Äôs $2bn private placement of notes¬†listed on the Irish Stock Exchange (now trading as Euronext Dublin). Other key contacts include Antonia Stolper, who heads the Latin America affinity group from New York, and Stuart Fleischmann, who splits his time between New York and Sao Paulo.

Leading lawyers

Jason Lehner - Shearman & Sterling LLP

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Capital markets: high-yield debt offerings
Capital markets: high-yield debt offerings - advice to issuers - ranked: tier 3

Shearman & Sterling LLP

Capital markets: high-yield debt offerings - advice to underwriters - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP¬†houses a broad capital markets practice, which draws particular praise for its ‚Äėgreat relationships with underwriters‚Äô and ‚Äėstrong profile in Latin American deals‚Äô. The firm‚Äôs Canada expertise is also a significant pillar of the practice and Jason Lehner, who splits his time between New York and Toronto, handled several high-yield debt offerings involving Canadian companies over the past year. Most notably, he advised the underwriters on Mountain Province Diamonds‚Äô $330m private placement. On the US side, Lehner advised¬†the joint bookrunners on notes offerings worth $1.7bn by¬†Wand Merger Corporation. The firm also acts for issuers, which included¬†Lisa Jacobs¬†(‚Äėincredibly hard working with excellent judgment‚Äô) advising to American Axle Manufacturing on its $400m notes offering and concurrent debt tender offer. Also recommended are¬†Harald Halbhuber¬†and Ilir Mujalovic.

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Commercial lending
Commercial Lending: Advice To Borrowers - ranked: tier 4

Shearman & Sterling LLP

Commercial lending: advice to lenders - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP has been a major player in the commercial lending scene for many years and clients report 'great experiences' with the group's lawyers. The firm has developed strong relationships with major financial institutions and direct lenders, and also has links with borrowers in the corporate and private equity spheres. On the lender side, the team advised Bank of America as administrative agent on the cross-border financing to support Comcast Corporation's £22bn offer for Sky. On the borrower front, the firm advised Vector Capital and its portfolio company, Saba Software, on a $497m financing, part of which went towards the acquisition of a European software company. Maura O’Sullivan and Ronan Wicks jointly lead the seven partner team, which includes the firm's highly experienced head of global leveraged finance Joshua Thompson, and Gus Atiyah, who is noted for his borrower-side expertise.

Leading lawyers

Maura O'Sullivan - Shearman & Sterling LLP

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Financial services regulation
Financial services regulation - ranked: tier 4

Shearman & Sterling LLP

Led on the broker-dealer front by Russell Sacks, and on bank regulatory matters by Reena Agrawal Sahni,  Shearman & Sterling LLP provides an 'incredibly responsive service' to an impressive array of clients, including Bank of America Merrill Lynch, Credit Suisse, ICE and Qatalyst Partners. As well as his work for individual trading clients and market infrastructure entities, Sacks regularly advises SIFMA across a range of regulatory issues affecting the broker-dealer firmament, including recently helping coordinate the industry’s comments on, reaction to and implementation of new rules relating to block trading and prohibitions against front-running. Sahni's broad-ranging bank regulatory expertise runs the gamut from advice on Volcker Rule and enhanced prudential standards, through to financial services M&A regulatory guidance and the representation of foreign entities seeking to expand their operations into the US market. Benefiting from in-house experience, as well as time spent at the Federal Reserve, counsel Tim Byrne is able to provide strategic and nuanced advice across a raft of bank regulatory matters for domestic and international clients. Counsel Jennifer Morton is also recommended on the broker-dealer front. All named attorneys are based in New York.

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Project finance
Project finance: advice to lender - ranked: tier 2

Shearman & Sterling LLP

Project finance: advice to sponsor - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP has particular expertise in energy and infrastructure sector project finance mandates. Department head Gregory Tan advised Rose Capital Investment, alongside a cross-jurisdictional team, on its co-investment with the Development Bank of Japan, Highstar Capital and Ares Management for the acquisition of the Linden Power Project in New Jersey, and Alexandro Padrés acted for the commercial and development banks, including Bancomext, BBVA, Caixa, EIB, IDB, IDB Invest, MUFG and Natixis, in connection with the $1bn Enel Green Power portfolio project financing of three solar photovoltaic plants in Mexico. Elsewhere, Robert Freedman, who is focused on US power and renewables transactions, advised GE Capital EFS Financing as administrative agent, collateral agent, joint lead arranger, sole bookrunner and a lender, on the financing for the construction of the Persimmon Creek Wind Farm, a 200MW wind power generation facility located in Ellis, Woodward and Dewey Counties, Oklahoma. Cynthia Urda Kassis, who heads the metals and mining practice, and recently promoted partner Paul Epstein are acting for the US Department of Transportation, through the Federal Highway Administration, as transactional counsel in relation to a senior secured loan as part of the $2bn I-10 Mobile River Bridge and Bayway Widening P3 project in Alabama. Denise Grant is also a key figure. Named lawyers are based in New York. Patricia Hammes recently retired.

Leading individuals: Project finance

Cynthia Urda Kassis - Shearman & Sterling LLP

Gregory Tan - Shearman & Sterling LLP

Next Generation Partners: Project finance

Alexandro Padrés - Shearman & Sterling LLP

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Restructuring (including bankruptcy): corporate
Restructuring (including bankruptcy): corporate - ranked: tier 6

Shearman & Sterling LLP

Shearman & Sterling LLP¬†focuses on representing senior lenders, creditors and banks, and is experienced in cross-border restructuring work. New York-based Frederic Sosnick¬†leads the team, which is representing Bank of America, as administrative agent and collateral agent under a secured term loan of over $1bn, in the bankruptcy proceedings of Toys ‚ÄúR‚ÄĚ Us and its affiliates; in July 2018, the company entered into a settlement agreement with the client and various other lenders and creditors that resolved issues relating to the liquidation of its assets and providing a framework for a plan of reorganization. The practice is also representing Citibank in issues arising from the Chapter 11 bankruptcy of Pacific Drilling and certain of its subsidiaries. In July 2018, the debtors filed a plan, which was agreed by all major creditor and equity holders, and gives the client a cash recovery of par plus contractual default interest on its claim. Douglas Bartner retired¬†from the firm in 2018.

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Structured finance: derivatives and structured products
Structured finance: derivatives and structured products - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP is engaged by buy-side and sell-side clients and market infrastructure providers, and has broad strengths in equity, commodity and credit-linked derivatives and proprietary trading. Practice head Donna Parisi and Azam Aziz provide ongoing regulatory and transactional derivatives advice to a litany of hedge funds and corporate end-users, and also regularly advise financial institutions and corporate issuers on equity derivatives transactions including equity collars, convertible note hedges and total return swaps. Parisi is also assisting Citigroup with amendments to its margin documentation with respect to uncleared OTC derivatives. Also recommended is Geoffrey Goldman, who is acting for IntercontinentalExchange in relation to the development of its swaps and futures clearinghouses and trading business; in this capacity, the team has been especially active in the development of blockchain-related derivative trading.

Leading lawyers

Donna Parisi - Shearman & Sterling LLP

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United States: Industry focus

Energy: renewable/alternative power
Energy: renewable/alternative power - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP handles project finance, investment and development mandates across a range of renewables projects including biofuel, biomass, fuel cell, geothermal, hydro, solar and wind. Further, the team has experience of environmental regulation and disputes, and has also been involved in federal green building initiatives. The New York-based global project development and finance group is led Gregory Tan, and includes Robert Freedman and Alexandro Padrés. Padrés led a cross-office team that advised a synidcate of lenders including Bancomext, BBVA, Caixa, EIB, IDB, IDB Invest, MUFG and Natixis on the financing arrangements with Enel Green Power for three solar photovoltaic plants in Mexico. Paul Epstein was recently promoted to a partner; Patricia Hammes and Howard Steinberg retired.

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Energy: transactions: conventional power
Energy: transactions: conventional power - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP is instructed by power developers, energy companies and contractors, equipment suppliers, investment banks, institutional investors and other financial institutions. The US power team is primarily based in New York and includes Robert Freedman, who acts as global co-head of the sustainable development group and energy group, and Gregory Tan, who leads the project development and finance group. Recent highlights included the team acting for BNP Paribas Securities, Citigroup Global Markets, JPMorgan Chase, Sumitomo Mitsui Banking Corporation and The Bank of Nova Scotia, as joint lead arrangers and joint bookrunners, in connection with a financing transaction with Cometa Energía, which involved a secured debt offering and a credit facility to finance its $1.3bn acquisition of the InterGen portfolio of energy assets in Mexico. Paul Epstein was promoted to a partner and Helen Cook left the firm to become an independent legal consultant in nuclear energy. Further, Patricia Hammes and Howard Steinberg retired from the New York office.

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Energy: transactions: oil and gas
Energy: transactions: oil and gas - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP focuses on upstream projects and advises on multiple types of project development and finance, capital markets deals and M&A. Key figures in the practice group include Houston-based Hugh Tucker, who recently joined from Baker Botts L.L.P., New York-based Gregory Tan, who focuses on financing and restructuring in the energy sector, and New York-based Robert Freedman, who heads the global energy group. Another contact in Houston is Robert Masella, who acted for TD Securities in relation to Encana Corporation’s acquisition of Texas-based Newfield Exploration Company in an all-stock transaction valued at C$5.5bn. Also recommended are Coleson Bruce and associate Ryan Staine, who make 'an excellent team, and do a great job delivering good advice to clients'. The Houston office was further expanded by the arrivals of Sarah McLean and Todd Lowther from Thompson & Knight LLP, Jeremy Kennedy and Coleson Bruce from Baker Botts L.L.P., and Omar Samji from Jones Day.

Leading lawyers

Hugh Tucker - Shearman & Sterling LLP

Next Generation Partners

Coleson Bruce - Shearman & Sterling LLP

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United States: Investment fund formation and management

Alternative/hedge funds
Alternative/hedge funds - ranked: tier 4

Shearman & Sterling LLP

Shearman & Sterling LLP's 'highly professional' team is noted for its 'deep understanding of the business issues at hand'. Practice head Sean Finley ('intelligent, measured and thoughtful') advises start-up fund manager BlockTower Capital Advisors on formation and regulatory issues regarding investment in cryptocurrency assets. Of counsel Paul Schreiber continues to advise Shenkman Capital Management on regulatory matters. Other key names include Nathan Greene and of counsel Buddy Donohue. Additional clients for the New York-based group include Maverick Capital Management and TRG Management.

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Mutual/registered/ exchange-traded funds
Mutual/registered/ exchange-traded funds - ranked: tier 3

Shearman & Sterling LLP

At Shearman & Sterling LLP, the team is noted for its strength in assisting independent boards and managers with the gamut of mutual funds matters. Jay Baris and Nathan Greene ('true stand-outs on mutual fund board matters', according to clients) advise Victory Funds and its trustees on registered funds and ETF matters, including the acquisition of Harvest Volatility Management and USAA Asset Management in two separate transactions. Greene provides ongoing advice to First Eagle Funds, which manages $111bn. Other key lawyers include of counsel Paul Schreiber and of counsel Buddy Donohue. Other clients include SkyBridge Capital, Aberdeen Investment Funds and the independent trustees of Blackstone.

Leading lawyers

Jay Baris - Shearman & Sterling LLP

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Private equity funds (including venture capital)
Private equity funds (including venture capital) - ranked: tier 4

Shearman & Sterling LLP

At Shearman & Sterling LLP, the 'very knowledgeable' Laura Friedrich ('smart, capable, and strong') advised Edmond de Rothschild Private Equity on the formation of TIIC 2 Master Fund, investing in transportation and social infrastructure assets, and assisted Brown Brothers Harriman, which has an aggregate value of $296bn under management, with forming BBH Real Estate Income Fund III. Friedrich was also part of a team that advised Actinver Capital Management on forming a private credit fund investing in private debt instruments, with a focus on Latin America. Other clients include the Development Bank of Japan, Shorenstein Properties and Qatar Investment Authority. Named lawyers are based in New York. John Reiss joined DLA Piper LLP (US) in 2019.

Leading lawyers

Laura Friedrich - Shearman & Sterling LLP

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United States: Labor and employment

Employee benefits, executive compensation and retirement plans: transactional
Employee benefits, executive compensation and retirement plans: transactional - ranked: tier 2

Shearman & Sterling LLP

Headed by Doreen E Lilienfeld, Shearman & Sterling LLP advises on all employee benefits and executive compensation issues in the context of public and private corporate transactions. Recent highlights include acting for LyondellBasell Industry in the $2.2bn acquisition of plastic supplier A. Schulman, and assisting KMG Chemicals with its ongoing $1.6bn acquisition by Cabot Microelectronics Corporation. Representative clients for John Cannon include Danone, Boston Scientific Corporation, SS&C Technologies and Thompson Reuters; in a recent highlight, Cannon and associate Matthew Behrens advised Knauf on its $7bn acquisition of USG Corporation. Also recommended is Linda Rappaport, who acts for clients in the financial services and entertainment sectors including Morgan Stanley, Credit Suisse and Sony. Kenneth Laverriere is noted for his ERISA Title 1 expertise and is instructed by clients including the New York State Deferred Compensation Board, S&P Global and GE. All named lawyers are based in New York.

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 3

Shearman & Sterling LLP

Shearman & Sterling LLP continues to impress in big-ticket domestic and cross-border M&A. The firm has built further market share in recent years and in 2018 it made additional inroads by launching new offices in Houston and Austin. The new offices offer a growing number of M&A partners and associates that are well-plugged into the oil and gas, industrials and technology sectors. The firm's 'dedication to client service is second to none', according to one client who also singles out its 'judgment and business sense', 'negotiation skills' and 'genuine care for its clients'. From its New York headquarters, the firm is also making a greater impression for big-name clients including CVS Health, The Dow Chemical Company, Liberty Global, Novartis and General Electric. It continued to advise CVS Health on its $77bn acquisition of Aetna, the leading diversified healthcare benefits company. It also advised Liberty Global on its ‚ā¨19bn sale of its operations in Germany, Hungary, Romania, and the Czech Republic to Vodafone. Moreover, it advised Novartis on its $3.9bn all-cash acquisition of Advanced Accelerator Applications, the French cancer specialist company.¬† Global managing partner George Casey remains actively engaged in many of the team's headline deals for clients such as Dow Chemical and Novartis; he is 'a brilliant senior dealmaker', 'highly respected', has 'excellent business judgment' and is 'very pleasant to deal with'. Scott Petepiece leads the Americas M&A group and has strong connections to the likes of Canada Pension Plan Investment Board (CPPIB), Fairfax Financial and American Axle; he is 'probably the best negotiator I have ever come across in my 15+ years of M&A experience,' says one client who also comments how Petepiece is 'superbly knowledgeable and always delivers beyond what would typically be expected from an external counsel'. Robert Katz has emerged as a key name in the team, having taken a pivotal role on CVS Health's acquisition of Aetna and Liberty Global's sale of its operations in¬†Germany, Hungary, Romania, and the Czech Republic. Elected to the partnership in January 2018, Richard Fischetti is 'street smart and efficient', a 'young partner who has demonstrated an ability to get deals done in the most sensible manner for the client'.

Leading lawyers

George Casey - Shearman & Sterling LLP

Next Generation Partners

Richard Fischetti - Shearman & Sterling LLP

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United States: Tax

Financial products
Financial products - ranked: tier 1

Shearman & Sterling LLP

Shearman & Sterling LLP's team are praised for their 'informed, knowledgeable and practical' approach. Kristen Garry, in Washington DC, is a key name in the team, and recently advised the underwriters of The Boeing Company’s offering of $700m of senior notes. Alongside team co-head Laurence Crouch, Garry advised BMO Capital Markets in connection with Bank of Montreal’s registered public offering of $850m. 'Premier attorney' Michael Shulman jointly leads the team with Crouch. Thomas Johnston and Robert Rudnick are also names to note. Nathan Tasso was promoted to partner in January 2018, while Todd Lowther joined as partner from Thompson & Knight LLP in April 2018. Thomas Johnston retired from the firm in December 2018.

Leading lawyers

Kristen Garry - Shearman & Sterling LLP

Michael Shulman - Shearman & Sterling LLP

Robert Rudnick - Shearman & Sterling LLP

Next Generation Partners

Nathan Tasso - Shearman & Sterling LLP

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International tax
International tax - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP is focused on providing global tax planning and advising multinational companies, financial institutions and other clients on the tax aspects of large transactions. Washington DC-based Ethan Harris and  Menlo Park’s Larry Crouch are advising CVS Health on its $77bn acquisition of Aetna. Crouch worked alongside Nathan Tasso on Unibail-Rodamco's acquisition of Westfield Corporation for $25bn. New York-based Laurence Bambino is another name to note. He recently worked with Liberty Global on structuring a split-off transaction.

Next Generation Partners

Ethan Harris - Shearman & Sterling LLP

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US taxes: contentious
US taxes: contentious - ranked: tier 4

Shearman & Sterling LLP

Michael Shulman and Laurence Crouch lead the team at Shearman & Sterling LLP. The firm acted for Z√ľrcher Kantonalbank, a state-owned Swiss bank, in a criminal tax investigation by the US Attorney‚Äôs Office for the Southern District of New York, which resulted in settlement;¬†Philip Urofsky led the matter. Kristen Garry negotiated a full concession for Rembrandt¬†Vision Technologies in a case before the US Tax Court that relates to the tax treatment of a patent litigation settlement. Other names to note are¬†Robert Rudnick,¬†Nathan Tasso¬†and¬†counsel Richard Gagnon. All named attorneys practice out of Washington DC.

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 2

Shearman & Sterling LLP

Shearman & Sterling LLP¬†displays ‚Äėstrong professional skills and knowledge‚Äô across a broad-range of tax fields, including cross-border M&A deals, spin-offs and restructuring, and also advises on tax-efficient investment and operating structures. Among the team's recent work, international M&A has been particularly well represented, with Larry Crouch¬†in Menlo Park and Ethan Harris¬†in Washington DC advising CVS Health on its $77bn acquisition of Aetna. Harris also acted for General Electric in the multi-jurisdictional sale of its power distribution business to Advent International, valued at $3.5bn. In another highlight from Washington DC, Kristen Garry¬†advised Citigroup on its sale of the Mexican asset management business Citibanamex to BlackRock. In New York, spin-offs lead partner Laurence Bambino, M&A partner George Casey¬†and Harris structured the spin-off transactions for Liberty Global in connection with its issuance of tracking stock. Michael Shulman¬†handled international restructuring matters on behalf of The Bank of Nova Scotia.

Next Generation Partners

Ethan Harris - Shearman & Sterling LLP

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