The private credit offering at DLA Piper LLP (US) leverages broad experience in advising on mezzanine loans, credit facilities and the full spectrum of alternative financing instruments, areas in which San Diego-based Matt Schwartz has expertise. Co-heading the practice, New York-based, Ryan Moreno is frequently turned to by private credit providers and alternative lenders in unitranche and asset-based financing. Also based in New York, Jamie Knox and Alan Rockwell are both active in domestic and cross-border financing, refinancing and lending pertaining to assets in the technology, healthcare and other sectors. Shana Ramirez, based in Los Angeles, offers direct lenders experience in hybrid facilities and recapitalizations, and joined the team in September 2025. Heather Waters Borthwick left the practice in August 2025.
Legal 500 Editorial commentary
Accolades
Client satisfaction: Lawyer & team quality
Client satisfaction: Billing & efficiency
Testimonials
Collated independently by Legal 500 research team.
- 'DLA Piper's private credit practice stands out for its genuine commitment to the ecosystem beyond traditional legal work. The team does not just advise on transactions—they actively invest in building the private credit community. Matt Schwartz and the team have co-hosted numerous private credit dinners with us in both San Francisco and New York, creating valuable networking opportunities for LPs, GPs, and service providers across the market.'
- 'Their deep subject matter expertise spans private credit and venture debt, and they're always willing to share insights on market trends, deal structures, and emerging practices. What truly differentiates them is accessibility: when we need perspective on a nuanced credit issue, they respond quickly and substantively, treating us as partners rather than just clients.'
- 'Matt Schwartz is exceptional. He was an early advisor to our company, rolling up his sleeves to review product mock-ups and provide candid feedback when we were just getting started. That willingness to invest time in early-stage relationships—not just established clients—speaks to his character.'
- 'Matt is generous with his network, making introductions without hesitation when he sees a fit. He combines deep technical knowledge of private credit markets with genuine relationship-building skills, which is rare. He's responsive, direct, and always focused on finding practical solutions.'
Key clients
- Aquarian Holdings
- Ares Management, LP
- Hercules Capital
- Macquarie Asset Management
- Mesirow Alt Credit
- Nomura
- Oxford Finance
- Runway Growth Capital
- Structural Capital Investment
- SVB Capital
Work highlights
Advised Nomura as Administrative Agent and Nomura, Macquarie Capital, KKR Capital Markets and Citigroup as arrangers in connection with a $1,419,297, 634 refinancing term loan of Ontic Aerospace’s existing senior secured term debt facility and a new incremental term debt facility of $150,000,000 combined into a few refinancing tranche of December 2024 term loans in connection with a refinancing of the business.
Advised on Hercules Capital’s $500 million credit facility to MoonLake Immunotherapeutics and $200 million credit facility to Shield AI.
Advised on Trinity Capital’s $100 million hybrid debt facility for Angel Studios, Inc., a media and technology company.
Practice head
Ryan Moreno; Matthew Schwartz
Other key lawyers
Alan Rockwell; Jamie Knox; Shana Ramirez