Milbank, Tweed, Hadley & McCloy LLP was ranked as the #1 law firm providing service to collateralized loan obligation (CLO) managers in Creditflux’s second annual CLO Census.
The Census surveyed CLO market participants, including managers, investors, arrangers and service providers, on a series of questions that were designed to gauge the current market sentiment, investigate views on controversial topics and uncover the industry’s preferred service providers.
Led by Structured Finance partner Jay Grushkin, Milbank’s global CLO team has been at the forefront of credit arbitrage since the inception of CLOs 30 years ago and boasts some of the world’s most prominent CLO attorneys with capabilities in New York, Los Angeles and London. The firm has continued to deepen its global CLO capabilities, most recently with the May 2018 addition of leading CLO and structured finance lawyer Sean Solis to the Structured Finance Group in Milbank’s New York office.
Mr. Grushkin said: “Milbank has taken great strides over the last year to expand our CLO prowess, including our continued recruitment of the world’s best CLO lawyers and representation of market-leading clients in complex transactions around the world.”
Mr. Solis added: “We are thrilled to be recognized by the Creditflux CLO Census for our unparalleled service and ability to adapt to changing valuation practices and market regulations. This is an exciting time to work in the CLO market, and this recognition by Creditflux is a tremendous testament to the growth and caliber of Milbank’s CLO team.”
Leader of the Firm’s West Coast-based Structured Finance Group Deborah Festa stated: “For many years, our CLO manager clients have relied on us to help them augment their assets under management both organically and by acquisition, and to see around corners as market and legal developments evolve. We are incredibly proud that our global team’s exceptional service has been recognized by the market.”
London-based Structured Finance partner James Warbey added: “Europe has an incredibly attractive CLO market for investors. The number of European CLOs issued has risen consistently in the past few years, and, with a global roster of industry and regulatory experts and our partnership with highly-dedicated collateral management professionals, Milbank’s London team has been able to capitalize on this CLO activity.”
Milbank consistently ranks highly for its world-leading CLO expertise. The firm was recently ranked the #1 law firm for Global CLO Managers and #5 law firm for Global CLO Arrangers in the CreditFlux 2017 year-end CLO Advisory Firm Rankings.
