Milbank LLP’s Alternative Investments and Structured Finance practice has been named a Law360 2023 Structured Finance Practice Group of the Year, one of only three law firms to be recognized in this category for its work in 2023. Law360’s annual Practice Group of the Year awards, which received nearly 800 submissions in 2023, honor the attorney teams behind the litigation wins and major deals that resonated throughout the legal industry in the last year.
Milbank’s renowned Alternative Investments Practice includes over 90 partners, counsel and associates globally. Over the last year, the structured credit and complex securitization teams have had the opportunity to work alongside its distinguished clients to structure numerous innovative, first-in-asset class deals in the securitization and the fund finance markets, including structured credit, esoteric securitization, one-of-a-kind financings, and the creation of cutting-edge, rated note structures.
Sean M. Solis, Global Practice Group Leader of the firm’s Alternative Investments Practice, who leads the structured credit team, said, “On behalf of the Global Alternative Investment Practice we are incredibly honored to be recognized by Law360 as a Structured Finance Practice Group of the Year. This recognition is testament to the trust and faith our clients place in us to work alongside them on market leading transactions that are not only innovative but often one of a kind. We take immense pride in being a go-to legal advisor for the leading asset managers and investment banks in the world on market moving transactions. At Milbank we take pride in questioning assumptions and rising to the challenges set by our clients every day.”
Milbank’s structured credit team advised clients on groundbreaking financings, including advising New Mountain Capital in a first-of-its-kind rated note feeder transaction and advising MidOcean Credit Fund Management on the establishment of a uniquely structured CLO equity fund. The team led the way by creating two innovative new CLO types in 2023 and closing more CLO deals globally in 2023, by both deal count and volume, than any other law firm in the market, according to Creditflux. Milbank stands apart from other firms as it keeps its place at the leading edge of innovation, pioneering solutions to regulatory issues and being thought leaders on risk retention and other regulatory capital issues, following market changes and delivering results to our clients, every step of the way.
Milbank’s complex securitization team, led by partner Michael Urschel, closed multiple esoteric securitization transactions across a range of asset classes, including whole-business securitizations of franchise royalties, financing of oil & gas interests and digital infrastructure securitization. The team structured more whole business and digital infrastructure securitizations through 2023 than any other team, with a leading role on every fiber securitization in the market, including a $1.585 billion fiber securitization for Frontier Communications, a $534 million Hotwire Communications and a $701 million data center securitization for CyrusOne. The team also led the way on franchise securitizations involving assets and intellectual property, including for Qdoba Restaurant Corporation, Five Guys, FOCUS Brands and the committed acquisition financing for Subway Restaurants.
