Milbank LLP was honored as Deal Firm of the Year at the ALB Philippine Law Awards 2026, becoming the first foreign law firm to receive the award. The firm also won Energy Deal of the Year for Prime Infrastructure Capital, Inc.’s acquisition of SierraCol Energy Limited and Capital Markets Deal of the Year for the initial public offering of Maynilad Water Services, Inc. The awards, presented by Asian Legal Business and Thomson Reuters, recognize outstanding achievements and performance across the Philippine legal market.
“We are honored to be recognized as Deal Firm of the Year and to receive two additional Deal of the Year awards for our work on these landmark transactions,” said James Grandolfo, Managing Partner of Milbank’s Hong Kong office and head of the firm’s Philippines practice. “These awards reflect the strength of our Philippines practice and, importantly, the trust our clients place in us to advise on complex, market-leading transactions. We are grateful to our clients and colleagues for the opportunity to be part of these significant milestones.”
The Energy Deal of the Year award recognized Milbank’s role advising Prime Infrastructure Capital, Inc. on its acquisition of SierraCol Energy Limited, an independent oil and gas company in Colombia, from The Carlyle Group. Completed in March 2026, the transaction marked a significant step in Prime Infra’s international expansion and added a leading Colombian energy platform to its portfolio. The Milbank team was led by Hong Kong partners James Grandolfo and Andrew Whan, with support from lawyers across the firm’s Hong Kong, New York and London offices.
The Capital Markets Deal of the Year award recognized Milbank’s role advising the joint global coordinators and joint bookrunners on Maynilad Water Services, Inc.‘s landmark initial public offering. The Rule 144A/Reg S offering of 2.3 billion shares was valued at approximately US$607 million (PhP35.3 billion), making it the largest IPO in the Philippines in 2025 and the second-largest IPO ever in the country. The transaction also marked the first time that the International Finance Corporation and Asian Development Bank participated as cornerstone investors in a Philippine IPO. The Milbank team was led by Hong Kong partner James Grandolfo, with associates York Wu and Julo Lim, and support from the firm’s New York tax team.
Milbank has maintained a leading Philippines practice for over 20 years, advising clients across virtually every area of corporate finance, from M&A and capital markets to project finance, private equity, leveraged finance and acquisition finance. The firm’s practitioners have substantial experience working with Philippine companies, investors, issuers and underwriters on some of the region’s most significant transactions. Milbank was also named Foreign Law Firm of the Year at the ALB Philippine Law Awards 2025, reflecting the firm’s continued commitment to the Philippine market.
