Milbank LLP’s Structured Credit team has once again been ranked as the #1 CLO Manager counsel in the United States in Creditflux’s latest Q3 2021 CLO league table rankings. The team was also ranked as the #3 CLO Manager Counsel in Europe. The firm worked on an incredible 168 qualifying US deals in Q3, well ahead of the next-placed, firm which closed 112 deals.
Creditflux’s October 2021 issue notes, “the CLO market has smashed records” this year. The publication reports that “US CLO new issuance stood at $119.6 billion at the end of Q3, a number well past the pre-pandemic 2018’s full-year total of $114.4 billion,” echoing the discussion of the record year for CLOs in the recent “The $1 Trillion CLO Market: ‘It’s Just You and the Pool’” podcast with Structured Credit partner Sean M. Solis.
This latest ranking follows Milbank’s Creditflux recognition in the top spot as US and Global CLO Manager counsel for the first half of 2021, as well as for the last four years globally and for the last three years in the US in Creditflux’s year-end 2020 rankings. This is in addition to Milbank’s extensive work representing anchor investors in CLOs. The rankings were determined by number of deals and by dollar (or dollar equivalent) amount.
The Structured Credit team, led by Mr. Solis, includes partners Jay Grushkin, John Goldfinch and James Warbey along with associates in the firm’s New York, Los Angeles and London offices. Milbank has one of the world’s leading CLO practices. The firm has been positioned at the forefront of structured finance since the inception of CLOs in the late 1980s, representing market-leading collateral managers, arrangers, issuers, risk retention lenders, anchor investors and derivatives counterparties on a multitude of structured finance transactions involving a diverse array of asset classes, including broadly syndicated loans, middle market loans, aircraft finance loans, real estate loans, infrastructure loans, sovereign loans, private fund investments and consumer loans.
Aside from this latest recognition by Creditflux, the practice is frequently regarded as a top firm in structured finance and securitization in other leading publications including Chambers, Legal500, IFLR1000, Asset-Backed Alert and Lexology.
Mr. Solis noted, “We are pleased to have had the opportunity to successfully guide our global clients through what has been an incredibly exciting CLO market and overall busy year, and we are honored to be recognized by Creditflux for working alongside the top managers and arrangers in the industry.”
October 27, 2021
