Latham & Watkins Shortlisted in Global and Americas Law Firm of the Year Categories of Private Debt Investor 2023 Awards

Latham & Watkins has been shortlisted in the Private Debt Investor (PDI) 2023 Awards in the Global Law Firm of the Year – Transactions and Americas Law Firm of the Year – Transactions categories. The publication’s annual awards “recognize the managers, institutional investors, and advisers that have shone during the year.” Voting for the shortlisted firms in all categories is open through January 8, 2024.

Latham advises the most active lenders, funds, credit platforms, and investment managers, as well as borrowers, in the full range of transactions — from the middle market to large-cap. The firm advises nearly all of the top 50 firms on the PDI 200, the publication’s annual ranking of the leading fundraisers in private debt based on a rolling five-year period. Latham was the #1 US direct lending legal advisor to lenders for 2022 and continues to be through the first half of 2023, according to KBRA Direct Lending Deals, and has advised on 13 jumbo private credit loans to date in 2023.

Select examples of Latham’s significant achievements in the last year include representing:

• Blue Owl Capital Corporation in a US$2.3 billion recapitalization for KKR portfolio company PetVet Care Centers and Silver Rock Capital Partners in a preferred equity investment.
• Golub Capital, as administrative agent, lead arranger and joint bookrunner, in a US$700 million delayed draw term loan for Risk Strategies, increasing the company’s unitranche facility to US$4.45 billion and Blackstone Capital Opportunities Fund in a US$300 million preferred equity financing.
• Golub Capital, as administrative agent, left lead arranger and joint bookrunner, in a US$3.4 billion unitranche facility for Hyland Software.
• Wolfspeed in financings totaling US$4 billion, representing one of the largest private capital fundings, largest direct lending transactions and largest growth financings of 2023.
• The third-party minority equity investors, as well as the purchasers of holdco PIK notes and direct lenders in a unitranche facility, the proceeds of which were used to support Virgin Pulse and HealthComp’s completed merger.
• The preferred equity investors in a highly structured junior capital financing to support Advent International and British Columbia Investment Management Corporation’s (BCI) US$6.4 billion take-private acquisition of Maxar Technologies.
• HPS Investment Partners, LLC in connection with the ongoing chapter 11 cases of SmileDirectClub.
• The committee of lenders, led by Alcentra Limited, Baring Asset Management Limited, CVC Credit, and KKR Credit, on the comprehensive recapitalization of Flint Group, including c. €760 million deleveraging and €72 million of new liquidity.
• The ad hoc committee of senior secured lenders of the Vue International group, the largest privately held cinema group in Europe, on the successful completion of its comprehensive financial recapitalization, with total existing debt reduced by approximately £470 million and a significant capital injection of £75 million.
• Ares Management Corporation on the acquisition by certain funds managed by its Alternative Credit strategy of a US$3.5 billion specialty finance loan portfolio from PacWest Bancorp.
• KKR on its exclusive multi-year agreement for up to €40 billion of eligible current and future Buy-Now Pay Later (BNPL) loans originated by PayPal in France, Germany, Italy, Spain, and the United Kingdom.