The securitization practice at Baker Botts L.L.P. is co-headed by Dallas-based Samantha Hale Crispin and Houston-based Natasha Khan, and is primarily engaged in energy-related ABS. The team was recently bolstered by the arrival of Cody Carper in Houston in February 2026.
Structured finance: securitization in United States
Baker Botts L.L.P.
Responsables de la pratique:
Samantha Hale Crispin; Natasha Khan
Autres avocats clés:
Travis Wofford; Jonathan Goldstein; Cody Carper
Principaux clients
Cleco Power LLC
CenterPoint Energy Houston Electric, LLC
Phoenix American Financial Services Inc.
Sunnova Energy International Inc.
Principaux dossiers
- Advised Cleco Securitization II LLC, a wholly owned subsidiary of Cleco Power LLC, on its offering and sale of $305 million aggregate principal amount of its Series 2025-A Senior Secured Energy Transition Bonds.
- Advised CenterPoint Energy Houston Electric, LLC in a registered public offering of “AAA” rated System Restoration Bonds relating to Hurricane Beryl, currently expected to be over $1.1 billion initial principal amount.
- Represented Phoenix American Financial Services Inc. in connection with the ASSET 2025-1 and 2025-2 Aircraft Securitizations. These transactions involved novel changes to address issues with prior PFIC structures.
Davis Polk & Wardwell LLP
Jointly led by Ryan D. McNaughton and Meyer C. Dworkin, the New York-based securitization offering at Davis Polk & Wardwell LLP is noted for its strengths in esoteric ABS transactions, with a focus on digital infrastructure and energy assets. McNaughton joined the team from Cadwalader, Wickersham & Taft LLP in March 2025, and Jimmy Moustakis joined from Skadden, Arps, Slate, Meagher & Flom LLP in July 2025.
Responsables de la pratique:
Ryan D. McNaughton; Meyer C. Dworkin
Autres avocats clés:
Jimmy Moustakis
Principaux clients
Uniti Group Inc.
Principaux dossiers
- Advised Uniti Group Inc on its inaugural $589 million fiber securitization notes offering.
- Advised an ad hoc group of holders of Solar Mosaic’s approximately $3.8 billion of asset-backed securities in its emergence from chapter 11.
- Advised the initial purchasers in connection with Dunkin’ Brands 2025-1 $900 million whole business securitization offering.
Proskauer Rose LLP
Led by New York‑based Justin Breen, the securitization practice at Proskauer Rose LLP focuses on CLO transactions. In New York, Lawrence V. Berkovich joined from A&O Shearman in July 2025, followed in August 2025 by Jon Burke and Blake H. Gilson, both from Dechert. Casey L. Miller, also formerly at Dechert, joined the Washington DC team.
Responsables de la pratique:
Justin Breen
Autres avocats clés:
Lawrence V. Berkovich; Jon Burke; Casey L. Miller
Principaux clients
BNP Paribas Securities
Jeffries
CIFC Asset Management LLC
Cadwalader, Wickersham & Taft LLP
Cadwalader, Wickersham & Taft LLP maintains a broad securitization practice spanning ABS, CMBS and CLO transactions, representing both issuers and underwriters. The team advises a roster of global financial institutions, including BNP Paribas, Goldman Sachs and JPMorgan. The practice is co-led by Michael Gambro, who is well-placed to advise on CMBS and related financing matters. Splitting his time between Charlotte and New York, Stuart Goldstein co-leads the team alongside him and frequently leads CRE CLO transactions and real estate mortgage-loan securitizations. Neil Weidner specializes in private credit transactions, including asset-backed and CLO structures. Steven Kolyer, who joined from Sidley Austin LLP in August 2025, focuses on CLO transactions. Lisa Pauquette is skilled at commercial mortgage-loan securitization and refinancing transactions, while Jeffrey Rotblat frequently handles CRE CLOs. In Washington DC, Sophie Cuthbertson advises on a wide range of ABS matters, including consumer loan, student loan and auto loan securitizations, with Hunter White also active in these areas. Evan Bloom frequently assists on financings and CLOs. All of the individuals mentioned are based in New York, unless stated otherwise.
Responsables de la pratique:
Michael Gambro; Stuart Goldstein
Autres avocats clés:
Neil Weidner; Steven Kolyer; Lisa Pauquette; Jeffrey Rotblat; Sophie Cuthbertson; Hunter White; Evan Bloom
Principaux clients
Alloya Corporate Federal Credit Union
Anthelion Capital Partners LLC
ATLAS SP Partners, L.P.
Bank of America Corporation
Barclays PLC
BNP Paribas S.A
Goldman, Sachs & Co. LLC
GreensLedge Capital Markets LLC
Greystone & Co. II LLC
ING Financial Markets LLC
JPMorgan
RBC
Truist Securities, Inc.
Värde Partners, Inc.
Wells Fargo Bank, National Association
Principaux dossiers
- Served as underwriter counsel in this landmark CRE CLO transaction. Represented JPMorgan as underwriter’s counsel in the establishment and issuance of an $802 million commercial real estate mortgage loan securitization by Arbor Realty Trust.
- Represented GreensLedge Capital Markets in connection with its $1 billion private credit collateralized loan obligation (CLO) transaction, secured primarily by middle market loans. The CLO was arranged on behalf of Crestline Investors, a leader in the middle market direct lending space. This transaction marked Crestline’s first CLO issuance.
- Represented JP Morgan as depositor, initial purchaser, and placement agent in a single-asset, single-borrower CMBS securitization of an approximately $201 million mortgage loan originated by Merchants Bank of Indiana secured by a single affordable housing property.
Dechert
Primarily working within fintech and financial services, the broad securitization offering at Dechert straddles CMBS, ABS, CLO and ESG securitizations, with a client roster that includes Citigroup Global Markets, Wells Fargo Securities, and JPMorgan Chase Bank. The global finance group is led by a capable quartet: New York‑based Andrew Pontano and Matthew Fischer, alongside Christopher Duerden and Stewart McQueen, who operate out of Charlotte. Pontano is skilled at handling consumer loan transactions and auto-loan transactions, while Fischer specializes in real estate securitization matters. Duerden is highly experienced in CLOs and structured credit, and McQueen focuses on CMBS securitizations. In New York, Laura Swihart represents loan sellers in mortgage loan matters and multifamily CMBS securitizations. Splitting his time between New York and Philadelphia, Ralph Mazzeo is well-placed to handle RMBS transactions, together with Philadelphia-based Linda Bartosch. Also in New York, other notable practitioners include William Luciani, noted for his work in auto-loan securitization and RMBS matters.
Responsables de la pratique:
Andrew Pontano; Christopher Duerden; Stewart McQueen; Matthew Fischer
Autres avocats clés:
Laura Swihart; Ralph Mazzeo; Linda Bartosch; William Luciani
Principaux clients
Federal Home Loan Mortgage Corporation (“Freddie Mac”)
Pagaya Structured Products LLC – PAID transactions
Global Lending Services LLC
Citigroup Global Markets Inc.; Citibank NA
Golub Capital Partners
Wells Fargo Securities, LLC
Raymond James & Associates, Inc.
Citi Real Estate Funding Inc.
JPMorgan Chase Bank, N.A.
Pretium Partners
Bank of America Merrill Lynch
ACRE
Apollo L.P.
Principaux dossiers
- Represented Golub Partners in its CLO 65(M)-R, where Morgan Stanley & Co. acted as underwriter. The CLO issued US$2.319 billion in notes, making it the largest CLO transaction ever in the history of the CLO market, according to Creditflux data.
- Represented Freddie Mac in many securitizations totalling approximately US$645 billion since 2009, including advising on approximately 57 deals in 2024 with the cumulative issuance of more than US$32 billion.
- Represented Pagaya since 2018 including advising on the following transactions over the past 12 months: Twelve unsecured consumer loan transactions, three forward flow transactions, a new asset-backed securitization program for point-of-sale (POS) loans, as well as four auto loan transactions (the RPM platform) and two related lending facilities.
Kirkland & Ellis LLP
With particular strength in whole business securitizations, the team at Kirkland & Ellis LLP is also well-placed to handle a broad range of financings and ABS transactions. The practice has a diverse industry footprint, acting for data-center operators, telecoms companies and digital-infrastructure providers across the technology, finance and telecoms sectors. The securitization group is jointly led by Michael Urschel and Kelly Mellecker. Urschel advises on whole business securitizations, ABS refinancings, digital infrastructure transactions and revolving credit facilities, with notable activity in the music, energy and digital infrastructure industries. Mellecker focuses on fiber-network ABS securitizations and financings. Chirag Domadia is active in cross-border structured credit facilities, back-leverage financings and esoteric assets, including music-royalty transactions. John Harrison specializes in esoteric securitizations and is experienced in digital infrastructure and data center financing structures. Thomas Prommer advises on energy restructurings, complex credit transactions and CFO facilities, while Jared Axelrod leads the CLO group with notable activity on CLO issuances and the formation of CLO equity funds. All of the individuals mentioned are based in New York.
Responsables de la pratique:
Michael Urschel; Kelly Mellecker
Autres avocats clés:
Chirag Domadia; John Harrison; Thomas Prommer; Jared Axelrod
Principaux clients
Barclays Capital
Berkshire Partners
Blackstone
Blue Owl Capital
Bojangles’ Restaurants, Inc.
CoreWeave, Inc.
DigitalBridge
Dine Brands Global, Inc.
Diversified Energy Company PLC
GTCR
Guggenheim Securities
KKR & Co.
Metronet
Oaktree Capital Management
Switch, Ltd.
Travel + Leisure Co.
Latham & Watkins
The team at Latham & Watkins advises on a broad spectrum of transactions, including green bond issuances, music-royalty securitizations and CLOs, with particular expertise in handling esoteric ABS. The group’s client roster spans asset managers, aviation companies, banks and financial institutions, with notable mandates for Morgan Stanley and American Airlines Group. Alongside London-based Jeremiah Wagner, Matthew Hays co-leads the structured finance group from Chicago, with experience across public and private securities and asset-sale transactions. In Los Angeles, Douglas Burnaford focuses on CLO transactions, frequently advising asset managers, alternative lenders and institutional investment firms. With strength in esoteric ABS, Loren Finegold handles matters ranging from green bond issuances and CLO transactions to data-center securitizations, and has been praised by clients for his ‘forward-thinking’ approach in ‘innovative deals.’ The ‘highly commercial’ Kevin Fingeret and David Siegel are particularly active in transactions involving data centers. In New York, Graeme Smyth focuses on esoteric assets, with recent work including music-royalty securitizations and digital infrastructure matters. The practice was recently bolstered by the arrival of Jim Fogarty, who joined from White & Case LLP in November 2024, bringing additional experience in CLO transactions, whole business securitizations and liability management matters. All individuals are based in New York, unless stated otherwise.
Responsables de la pratique:
Matthew Hays; Jeremiah Wagner
Autres avocats clés:
Douglas Burnaford; Loren Finegold; Kevin Fingeret; David Siegel; Graeme Smyth; Jim Fogarty
Les références
‘Latham has made a strong name in corporate ABS, with the ability to move between asset classes and 144a/4a2, and to provide relevant information from other processes to inform specific deal issues.’
‘Kevin Fingeret and David Siegel are both highly commercial lawyers with a keen eye for market trends, as well as relationship dynamics in the fairly unique space of corporate ABS.’
‘I think the structured finance practice at Latham & Watkins stands out for its depth and breadth. The team can seamlessly switch from legal to business matters, even tackling highly quantitative topics. They can move between private and public structures with the same partners, which minimizes disruption for clients while preserving their deep understanding of each client’s needs.’
Principaux clients
Beach Point Capital
Carlyle
HalseyPoint Asset Management
Morgan Stanley
Onex Credit Partners
Rockford Tower Capital Management
American Airlines Group
Ares
DailyPay, Inc.
Deutsche Bank Securities Inc.
Guggenheim Securities
Harley-Davidson
Santander
TD Securities
TPG Angelo Gordon
Wells Fargo
Mayer Brown
Noted for its ‘ability and willingness to create and implement novel structures,’ Mayer Brown fields a ‘highly commercial’ team with a strong focus on ABS transactions, including significant work in digital assets, crypto-linked financings and consumer-loan securitizations. The team advises major banks and multinational financial institutions. Julie Gillespie and Ger O’Donnell jointly lead the practice from Chicago; Gillespie represents issuers and initial purchasers in credit-card ABS and crypto-backed consumer loans, while O’Donnell focuses on esoteric securitization and fintech matters, regularly handling back-leveraged facilities and warehouse financings – areas in which Charlotte-based Glenn Kunkes is also active. In Chicago, Jon Van Gorp brings expertise in RMBS and credit‑risk transfer facilities, and Stuart Litwin is a key contact for novel transactions, auto‑loan matters, and forward‑flow arrangements. Also in Chicago, Angela Ulum advises on credit‑facility matters, while Jan Stewart focuses on forward‑flow facilities and crypto‑backed consumer‑loan securitizations. In New York, Ryan Suda specializes in CLO transactions, and Amanda Baker is active in earned‑wage‑access securitizations and emerging consumer asset classes. The New York team was recently strengthened by the arrival of Rudgee Charles from Kirkland & Ellis LLP in April 2025, bringing additional experience in ABS transactions and complex credit deals.
Responsables de la pratique:
Julie Gillespie; Ger O’Donnell
Autres avocats clés:
Glenn Kunkes; Jon Van Gorp; Stuart Litwin; Angela Ulum; Jan Stewart; Ryan Suda; Amanda Baker; Rudgee Charles; Paul Jorissen; David Linley; Jacob Blakeslee; Jefferson Lai
Les références
‘The team has superior knowledge of securitization and structured finance. The team stands out for its ability and willingness to create and implement novel structures.’
‘Paul Jorissen and David Linley are both extremely knowledgeable, but at the same time able to take a practical and commercial approach to solving even the most complex problems. They both go the extra mile in coming up with outside the box ideas to achieve commercial objectives and are able to implement them in a collaborative as opposed to contentious manner.’
‘The team is extremely commercial. There is a fine-tuned balance of attention to the client, efficiency, expediency, and commerciality.’
‘Glenn Kunkes & Jacob Blakeslee are exceptional attorneys. They are hardworking, attentive to client and transaction needs, technically sound and commercial.’
‘The Mayer Brown structured finance team consistently delivers high quality legal services for our ABS deals. The team is always up-to-date on both market developments and our company.’
‘Jan Stewart is always available for one-off questions and concerns. She responds promptly and is very effective in interactions with opposing counsel.’
‘Jefferson Lai is always available for one-off questions and concerns, she provides very prompt responses and assistance.’
‘Mayer Brown’s structured finance and securitization team stands out for its deep technical expertise and ability to navigate complex transactions with precision. They combine market-leading knowledge with a pragmatic approach, ensuring solutions are tailored to client objectives rather than theoretical constructs.’
Principaux clients
Ally Financial
Apollo Global Management
Banco Santander
Barclays Bank
CarVal Investors LLC
Goldman Sachs Group, Inc.
JPMorgan Chase
Mizuho Financial Group, Ltd.
Republic Finance
U.S. Bancorp
Principaux dossiers
- Represented UPX HIL 2025 Depositor LLC, an affiliate of LuminArx Capital Management, as sponsor of home improvement loan asset-backed notes, the first capital markets issuance tied to this program and the first ABS transaction for an affiliate of LuminArx Capital Management.
- Represented Barclays Capital Inc. as lead bookrunner and structuring agent in connection with DailyPay’s inaugural $200 million asset-backed securitization of earned-wage access (EWA) receivables, the first securitization in the EWA sector to issue publicly traded notes across all classes, establishing a novel capital markets structure for this emerging industry.
- Represented PayPal, Inc., an American multinational technology company, in a committed forward flow sale transaction whereby funds managed by Blue Owl Capital have committed to purchase approximately $7 billion of buy-now, pay-later (BNPL) receivables originated by PayPal in the US, a first-of-its-kind deal at this scale in the BNPL industry.
Milbank
Milbank’s alternative investments practice is primarily focused on CLO transactions, often involving complex cross‑jurisdictional elements. The team advises a broad roster of leading institutional investors, including major asset managers, private equity firms, alternative credit providers and global investment platforms. Co‑heading the practice, Sean Solis concentrates on CLO transactions and also advises on matters in the insurance and music industries, as well as bespoke financings, debt transactions and capital‑markets regulatory issues. Fellow co‑head Albert Pisa brings expertise in leveraged lending, liability‑management transactions and debt restructurings. Brett Stone represents both lenders and borrowers in secured‑lending matters and cross‑border financing and refinancing transactions. Martin Brennan’s structured‑credit practice spans CLOs, fund finance and leveraged loans. All individuals mentioned are based in New York.
Responsables de la pratique:
Sean Solis; Albert Pisa
Autres avocats clés:
Brett Stone; Martin Brennan
Principaux clients
BlackRock
KKR
Blue Owl
Elmwood Asset Management
Eldridge
Warwick Capital Partners
CIFC
New Mountain
Northwestern Mutual
Oaktree
Oak Hill
Morgan, Lewis & Bockius LLP
The securitization offering at Morgan, Lewis & Bockius LLP is covering the full array of RMBS, ABS and CLO transactions, and its client roster comprises multinational banks, investment banks and investment management firms. Representing issuers, financial intermediaries and investors, practice head Mark Riccardi leads the team from Washington DC and is focused on ABS transactions, specifically student loan securitizations and financing transactions. New York-based Matthew Joseph represents issuers and underwriters in public offerings and private placements of ABS, while also bringing expertise in representing clients as initial purchasers in CLO transactions and financings. In Washington DC, Asa Herald advises on residential mortgage loans and REMIC securitizations, and Paul St. Lawrence is particularly active in CLO transactions, financings and refinancings. Washington DC-based Jeffrey Johnson is instructed by financial services institutions and leading investment banking firms on mortgage-backed securities and agricultural mortgage loans, while in New York Steven Becker‘s recent caseload includes residential transition loans, home equity loans and warehouse lending mandates.
Responsables de la pratique:
Mark Riccardi
Autres avocats clés:
Matthew Joseph; Asa Herald; Paul St. Lawrence; Jeffrey Johnson; Steven Becker
Orrick, Herrington & Sutcliffe
The ‘knowledgeable and attentive’ team at Orrick, Herrington & Sutcliffe is well placed to cover the full spectrum of ABS, CMBS, RMBS and CLO transactions within its securitization practice. The group is led by New York-based Leah Sanzari, who is particularly skilled at C-PACE securitizations and brings expertise in esoteric ABS. Janet Barbiere and William Cullen focus on CMBS matters, representing issuers and underwriters in these transactions. In Los Angeles, Martin Howard handles RMBS transactions, primarily advising banks, mortgage servicers and mortgage-focused investment firms. Bringing strength in consumer securitization, Chris Min is adept at handling ABS, recently being involved in high-profile credit card ABS matters. Orion Mountainspring maintains a broad ABS practice, with his caseload spanning esoteric financings, auto loans, solar loans, and fintech-related matters. Elizabeth Elias provides assistance on ABS transactions, including whole business and C-PACE securitizations. Recent additions to the structured finance team, all joining from Cadwalader, Wickersham & Taft LLP in October 2025 as partners, include Doug Arborio, Joe Beach, Nate Spanheimer and Skyler Walker in Charlotte, as well as Gregg Jubin in Washington DC. All of the individuals mentioned are based in New York, unless stated otherwise.
Responsables de la pratique:
Leah Sanzari
Autres avocats clés:
Janet Barbiere; William Cullen; Martin Howard; Chris Min; Robert Moyle; Orion Mountainspring; Elizabeth Elias; Doug Arborio; Joe Beach; Gregg Jubin; Nate Spanheimer; Skyler Walker
Les références
‘The team was knowledgeable and attentive.’
‘Chris Min and Robert Moyle were both knowledgeable and practical, able to balance risk with the need to be commercial.’
Principaux clients
Centerline Logistics Corporation
New Hampshire Business Finance Authority
American Express
Nuveen Green Capital (a.k.a. Greenworks Lending LLC)
PACE Equity LLC
Stonehill Capital Management
Nissan Auto ABS Underwriters
Ally Financial Auto ABS Underwriters
Goldman Sachs & Co. LLC
Upstart Network Inc.
Citigroup Global Markets Inc. and Affiliates (“Citigroup”)
Morgan Stanley & Co.
Bank of Montreal
Bank of America
Invictus Capital Partners
PennyMac Mortgage Investment Trust
Principaux dossiers
- Advised Centerline Logistics, a Washington-based provider of marine transportation services, in its acquisition by a fund managed by Maritime Partners, a Louisiana-based privately held company leading the way in maritime assets, vessel leasing solutions, and construction financing.
- Advising New Hampshire’s Business Finance Authority on a $100 million conduit bond, the nation’s first-ever municipal bond backed by Bitcoin, marking a historic milestone that opens the door for digital assets to enter the $140 trillion global debt market.
- Serving as transaction counsel on all of American Express’s registered and unregistered securitization transactions and has served in that capacity for nearly 30 years.
Cleary Gottlieb Steen & Hamilton
With particular strength in CLOs, the team at Cleary Gottlieb Steen & Hamilton is active across agency mortgage work, private credit financings and esoteric securitizations. The group advises major multinational banks, investors, asset managers and financial services institutions. Co-leading the team from Washington DC, Michael Mazzuchi focuses on asset‑backed lending and repurchase agreements, while Macey Levington is active in CLO and secured‑loan transactions. John McGill is involved in CLOs and asset‑backed private credit facilities, and Beau Sterling frequently advises underwriters on a diverse caseload spanning mortgage‑backed transactions, CLOs, and asset‑backed financings and refinancings. Praised by clients as an ‘impeccable’ and ‘zealous advocate,’ Amber Phillips handles CLO transactions, regulatory and structured finance matters, as well as asset-backed private credit facilities. Jay Kozak, recognized for his ‘wealth of knowledge,’ is experienced in equity-backed loan financings and asset-based lending arrangements. In New York, Nora McCloskey Sines assists on mortgage‑backed and CLO transactions and a range of asset‑based financings, while Washington-based Michael Sanders advises banking, financial services and private equity clients. All individuals mentioned are based in Washington DC, unless stated otherwise.
Responsables de la pratique:
Michael Mazzuchi; Macey Levington
Autres avocats clés:
John McGill; Beau Sterling; Amber Phillips; Jay Kozak; Nora McCloskey Sines; Michael Sanders
Les références
‘The firm is unique in the sense that it has a dedicated team for structured finance. Not every large firm dedicates professionals to the practice. This creates an expertise that is difficult to match by other firms. Furthermore, this market knowledge and capacity allows Cleary to work through transactions more efficiently as it is able to anticipate issues and can more quickly advise on the steps to take.’
‘Amber Phillips is impeccable and a zealous advocate. Her advice is highly sought after by business people on each deal. Her ability to handle opposing counsel efficiently is something I value.’
‘Jay Kozak has a wealth of knowledge. Further, he routinely is able to complete transactions efficiently.’
Principaux clients
Citigroup Global Markets Inc.
Santander
BMO
J.P. Morgan
Morgan Stanley
PNC
Mizuho Securities
Blue Owl
Goldman Sachs
Credit Suisse (Prior to acquisition by UBS)
Nomura
Silver Point Capital
Bank of America
Jefferies
Hewlett Packard Enterprise
Sumitomo Mitsui Banking Corporation (SMBC)
StoneX
Ontario Municipal Employees Retirement System (OMERS)
Healthcare of Ontario Pension Plan (HOOPP)
Cantor Fitzgerald, LP
Ontario Teachers’ Pension Plan (OTPP)
Clifford Chance
Often engaged in RMBS work, Clifford Chance’s diverse global financial markets team advises across RMBS, CMBS and CLO transactions. Co‑leading the team from New York, Lee Askenazi brings broad experience in RMBS, lines of credit mortgage‑backed securities and REMIC securitizations, while fellow co‑head Robert Villani focuses on CLOs. Jim Cotins concentrates on CRE CLOs and single‑borrower securitizations, and James Gouwar advises on the tax aspects of structured finance. Alistair Dunlop handles residential mortgages, consumer loans and receivables, including credit‑risk transfer matters. In Washington DC, Robert Hagan is active in residential mortgage‑backed loans. Matt Lyons focuses on commercial real estate CLOs, while Rebecca O’Brien and Gareth Old advise on structured debt and private credit transactions. Peter Manno and Washington DC-based Leah Willmore are active in RMBS and credit‑risk transfer securitizations. Joanna Nicholas joined the team from Mayer Brown in March 2025, bringing expertise in CLOs. All individuals mentioned are in New York, unless stated otherwise.
Responsables de la pratique:
Robert Villani; Lee Askenazi
Autres avocats clés:
Jim Cotins; James Gouwar; Alistair Dunlop; Robert Hagan; Matt Lyons; Rebecca O’Brien; Gareth Old; Peter Manno; Leah Willmore; Joanna Nicholas
Principaux clients
Bayview Asset Management, LLC (Oceanview and Lakeview)
Chimera Investment Corporation
TPG Angelo Gordon
PR Mortgage Investment, LLC
Schroders plc
American International Group, Inc (AIG)
Kroll Bond Rating Agency, LLC
Citadel Servicing Corporation (ACRA Lending)
Nuveen Asset Management
RREEF America LLC/DWS Asset Management
NYL Investors LLC
Generate Advisors, LLC
Symphony Alternative Asset Management LLC
Waterfall Asset Management (Ready Capital and Sutherland)
FirstKey Mortgage (Cerberus)
Global Net Lease, Inc.
Blue Owl Capital Inc.
CCS Partners
Guild Mortgage Company LLC
Deutsche Bank
Principaux dossiers
- Advised TPG Angelo Gordon as co-sponsor, retaining sponsor and asset manager on a number of transactions, including the issuance of US$301.329 million open-ended home equity lines of credit mortgage-backed notes by FIGRE Trust 2025-HE4.
- Advised Chimera Investment Corporation, as sponsor, on a number of transactions, including the US$391.790 million residential mortgage-backed securitization by CIM Trust 2025-R11.
- Advised Waterfall Asset Management, as asset manager, and Cascade Funding, LP – Series 12, as sponsor, in the CFMT 2024-NR1 transaction, which included the securitization of performing and re-performing mortgage loans, including E-Notes, FHA, VA and USDA Loans.
Dentons
Praised for its ‘expertise, dependability, and innovation,’ Dentons’ securitization practice advises on a broad range of asset‑ and mortgage‑backed transactions, spanning ABS, RMBS and CMBS, with a strong focus on real estate finance. Co‑leading the team from New York, Stephen Kudenholdt concentrates on residential mortgage loan securitizations, while fellow co‑head Erik Klingenberg handles green data‑center ABS, auto securitizations and triple‑net‑lease deals. Scott Swerdloff represents underwriters and issuers in business‑purpose, investor‑loan, non‑QM and residential term‑loan securitizations. David Natter advises on CLOs, esoteric financings and whole‑business securitizations, and Robert Olin is active in esoteric ABS. Marlo Young focuses on acquisitions, financings and HELOC securitizations. Other key contacts include Kyle Matula, who is particularly active in CLOs and warehouse financings. All lawyers mentioned are based in New York.
Responsables de la pratique:
Stephen Kudenholdt; Erik Klingenberg
Autres avocats clés:
Scott Swerdloff; David Natter; Robert Olin; Marlo Young; Kyle Matula; John Lucas Varney
Les références
‘The team is knowledgeable and innovative. They helped us design an innovative tax structure and it has turned into the market standard of structures in the space.’
‘The team brings an outstanding combination of expertise, dependability, and innovation. Their ability to provide accurate, thorough, and actionable reviews paired with a collaborative and service-oriented approach makes them a uniquely strong partner for clients navigating complex trust and agency transactions. They consistently deliver the clarity, confidence, and execution support that clients need in a rapidly evolving legal and regulatory environment.’
‘The team of Kyle Matula and John Lucas Varney distinguish themselves through a rare combination of technical expertise, professionalism, and genuine client commitment. Each team member brings a deep understanding of the complexities inherent in corporate trust documentation, and they apply that knowledge with accuracy, clarity, and consistency.’
Principaux dossiers
- Represented Saluda Grade as issuer and sponsor of Grade 2024-FIG5, a US$248 million rated securitization, and 2024-HE1, a US$362 million rated securitization of home equity lines of credit (HELOCs) originated through a blockchain-based platform.
- Represented New Residential Investment Corp. as issuer and sponsor in NZES 2024-FNT1 and NZES 2025-FHT1, two Fannie and Freddie MSR securitizations with an aggregate value of US$1.34 billion, and the first and only to-date non-recourse MSR securitizations.
- Represented Agora Data, Inc. as issuer in ACAST 2025-1, a US$112 million securitization backed by retail installment loans on new and used auto vehicles, a transaction which significantly improved access to capital markets funding for “Buy Here Pay Here” (BHPH) pre-owned auto installment-purchase financiers.
DLA Piper LLP (US)
The team at DLA Piper LLP (US) is noted as ‘proactive,’ ‘creative and thoughtful,’ regularly representing investors, asset managers, underwriters and purchasers across the full spectrum of ABS, CMBS and CLO transactions, as well as esoteric ABS and distressed legacy CDOs. Co‑heading the practice from New York, Richard Reilly Jr. is well‑versed in domestic and foreign CLO transactions, while Los Angeles‑based co‑lead Claire Hall focuses on music royalties and esoteric ABS, including multijurisdictional matters. In New York, Grant Buerstetta advises on CLOs, ABS matters and financings, and the 'exceptionally talented' Joo Kim is noted for her CMBS work. Boston‑based Andrew Sroka handles consumer credit securitizations and small‑business loan issues, with particular activity in fintech matters. In New York, Jay Williams brings expertise in private credit financings, while in Los Angeles Carlo Ingato concentrates on CLOs. In Philadelphia, Eric Glickman, who joined from Dechert in 2025, adds further CMBS strength. Other key contacts include Erin Apstein and Charles Bell, who provide assistance on a range of transactions.
Responsables de la pratique:
Richard Reilly Jr.; Claire Hall
Autres avocats clés:
Grant Buerstetta; Joo Kim; Andrew Sroka; Jay Williams; Carlo Ingato; Eric Glickman; Erin Apstein; Charles Bell
Les références
‘The DLA team comprised of Andrew Sroka and Erin Apstein is one of our go-tos for structured finance and securitization transactions. They are proactive, sensitive to deadlines, and always on the ball with what we need to deliver and when we need to deliver it. Andrew’s team is excellent at running transactions from start to finish, and is always ready to hop on a call to address any questions, no matter how complex or ambiguous. We know we can count on Andy’s team every step of the way, any time of year.’
‘Andrew (Andy) Sroka – deep knowledge of structured finance and securitization transactions; excellent at addressing niche, nuanced questions regarding interpretation of ambiguous and/or novel scenarios.’
‘Charlie Bell is one of the most reliable associates we have worked with among all of our outside counsels. Charlie is fast, reliable, and intelligent.’
Principaux clients
Affirm, Inc.
Ares
Concord
Duetti, Inc.
HarbourView Equity Partners, LLC
Lendbuzz Inc.
BlackRock
Goldman Sachs
Together Financial Services Limited
Irradiant Partners
Nuveen
Principaux dossiers
- Advised Concord, a leading independent music company, on a historic approximately US$1.765 billion music securitization, issuing a series of new five-year, seven-year, and ten-year senior notes.
- Advised Affirm in the structuring and documentation of Affirm’s master trust securitization shelf for its buy-now-pay-later loan products. Three issuances closed in 2025 for a total of US$2.85 billion in issued securities.
- Advised Goldman Sachs on more than 20 CLO transactions, collectively valued at over US$10 billion.
Herbert Smith Freehills Kramer
Regularly representing issuers, underwriters, borrowers, lenders and institutional investors, the team at Herbert Smith Freehills Kramer is well‑positioned to handle esoteric ABS securitizations, with a client base comprising multinational banks and financial services institutions. The practice is jointly led by Gilbert K.S. Liu, Laurence Pettit and Jamie Kocis. Liu and Pettit advise on solar asset securitizations and warehouse financings, while Kocis focuses on capital markets securitizations and esoteric ABS transactions, including timeshare loans and lottery receivables. Daniel Michaelson handles solar securitizations and back‑leveraged solar tax equity matters. Michaelson and Liu have been noted by clients as ‘leaders in the esoteric structured credit space.’ Other noteworthy individuals include Nicole Alexa, who frequently assists on transactions. All lawyers mentioned are based in New York.
Responsables de la pratique:
Gilbert K.S. Liu; Laurence Pettit; Jamie Kocis
Autres avocats clés:
Daniel Michaelson; Nicole Alexa
Les références
‘The HSF Kramer team checks all the boxes that an underwriter could ask for. The entire team, from partners to associates, are always readily available to service us on a multitude of highly complex structured finance transactions, across both capital markets and private deals.’
‘On transactions, compared to other firms, the entire HSF Kramer deal team exhibits strong attention to detail and a very profound understanding of the legal securitization framework.’
‘Both Gilbert and Daniel are leaders in the esoteric structured credit space and have best-in-class capabilities across numerous asset classes, such as residential & commercial renewable energy, and other esoteric consumer/commercial finance.’
Hunton Andrews Kurth LLP
Representing issuers, dealers, initial purchasers and buyers, the team at Hunton Andrews Kurth LLP covers mortgage‑backed securitizations and ABS and is well‑positioned to handle financing and securitization transactions. The practice is co‑headed by Richmond‑based Mike Nedzbala, who is experienced in mortgage servicing rights transactions and the resecuritization of mortgage loans. In New York, fellow co‑head Brent Lewis advises on QM and non‑QM securitizations, debt financing transactions and SCRT matters. New York‑based Tom Hiner is active in equity and debt matters, as well as mortgage servicing rights and land‑banking issues. In Richmond, Cecelia Philipps Horner focuses on reverse mortgages and home equity investments. Operating out of New York, John Dedyo is noted for his ‘enormous substantive knowledge,’ with recent involvement in merchant voucher securitizations. In Richmond, Rudene Haynes concentrates on mortgage servicing rights, while in New York Brit Mohler Dufhilo handles financing transactions, CMBS and REMIC RMBS. Richmond‑based Andrew Blanchard advises on single‑family rental matters, while Shannon Daily focuses on mortgage servicing rights and non‑QM issues. In New York, Janet Sadler McCrae advises on RMBS and credit‑risk transfers, while Serena Mentor focuses on reverse mortgage loan securitizations.
Responsables de la pratique:
Mike Nedzbala; Brent Lewis
Autres avocats clés:
Tom Hiner; Cecelia Philipps Horner; John Dedyo; Rudene Haynes; Brit Mohler Dufhilo; Andrew Blanchard; Shannon Daily; Janet Sadler McCrae; Serena Mentor
Les références
‘Sage, seasoned, considered consiglieres who know the structured product space inside out and also have deep related experience, such as the vagaries of the Securities Act, Securities Exchange Act. Always great not just for negotiating a new CLO but also for batting around ideas for new products. Very commercial while deeply aware of limitations and flexibilities of law and regulation. Deep knowledge of the market.’
‘John Dedyo is amazing. He has enormous substantive knowledge and wears a business hat all the time. He is very creative.’
Principaux clients
BofA Securities, Inc.
Wells Fargo Bank, N.A.
Government National Mortgage Association (Ginnie Mae)
Atlas SP (former Credit Suisse Securitized Products Group)
Angelo Gordon & Co., L.P.
MFA Financial
Capital One, National Association
Annaly Capital Management
Churchill Finance LLC
A&D Mortgage LLC
Ellington Management Group
Axonic Capital LLC
Pretium Partners, LLC
Freedom Mortgage Corporation
Angel Oak
Mizuho Americas LLC
Principaux dossiers
- Represented various issuers in continuing programs of QM and non-QM REMIC residential mortgage-backed securitizations as well as a number of debt for tax financing transactions of performing, reperforming and non-performing mortgage loans, including home equity lines of credit.
- Acted as program counsel to Ginnie Mae in connection with over 240 Multiclass Securities transactions, representing the issuance of more than $205 billion of government guaranteed REMIC securities backed by government-insured mortgage loans, including participations in government-insured reverse mortgage loans.
- Represented the dealers/initial purchasers on each of the Freddie Mac Structured Agency Credit Risk (STACR) Notes transactions since the commencement of the program in 2013.
Katten
With expertise spanning RMBS, CMBS, ABS, CLOs and esoteric transactions, Katten’s securitization practice is jointly led by Washington DC‑based Anna-Liza Harris and New York partners Howard Schickler and Chris DiAngelo. Harris is active in RMBS transactions, re‑REMIC transactions and matters involving mortgage‑servicing rights. Schickler advises on forward‑flow transactions and asset classes including unsecured consumer loans and small‑business loans. DiAngelo focuses on mortgage‑financing mandates and is sought after for his work on CRE CLOs and whole‑business securitizations. Managing partner Seth Messner specialises in residential transition‑loan financings and is also active in whole‑business, esoteric and tax‑exempt bond securitizations. In Washington DC, David Matthews concentrates on credit‑risk transfers and REMIC securitizations, while John Sun is a key member of the RMBS practice. New York‑based John Keiserman counsels issuers, underwriters, lenders and investors on matters relating to automobile loans and leases, with a focus on auto‑loan ABS. In Charlotte, Joshua Yablonski advises on CMBS transactions, frequently acting for issuers, underwriters and loan sellers.
Responsables de la pratique:
Anna-Liza B. Harris; Howard Schickler; Chris DiAngelo
Autres avocats clés:
Seth Messner; David Matthews; John Sun; John Keiserman; Joshua Yablonski
Principaux clients
Fannie Mae
Morningstar DBRS
Brean Capital
Rithm Property Trust
Saluda Grade
Citigroup Inc.
Tesla Finance LLC
General Motors Financial Company, Inc.
JPMorgan Chase Bank, N.A.
Fortress Credit Corp.
Ford Motor Credit Company LLC
LendingClub Bank, N.A.
Marathon Asset Management
Axonic Capital, Inc.
Bank of America, National Association
King & Spalding
Regularly representing lenders, underwriters, issuers and investors, King & Spalding is noted for its work in esoteric transactions, alongside its coverage of ABS and acquisition finance within the finance and restructuring group. Carolyn Alford co‑leads the team, with recent involvement in fiber securitizations, while fellow co‑head Todd Holleman advises on private debt fund matters and acquisition financings. Miami‑based Jonathan Arkins represents domestic and international financial institutions and private equity funds in warehouse financings and master repurchase agreements. Both lauded as 'excellent,' Martin Eid and Kathryn Weiss bring expertise in whole‑business and fiber securitizations, often involving cross‑border elements. Jeff Misher handles esoteric ABS matters involving warehouse facilities, while Washington DC‑based David Ridenour focuses on structured lending and data‑center ABS securitizations. Other notable practitioners include Mitchell Hoke and Luigi De Angelis, who assist on a range of transactions. All lawyers mentioned are based in New York unless stated otherwise.
Responsables de la pratique:
Carolyn Alford; Todd T. Holleman
Autres avocats clés:
Jonathan Arkins; Martin Eid; Kathryn Weiss; Jeff Misher; David Ridenour; Mitchell Hoke; Luigi De Angelis
Les références
‘The K&S team is adept at esoteric ABS, including digital infrastructure (data centers and fiber). The team is made up of great people who collaborate with their clients and counsel is coming up with creative and novel solutions for the most difficult transactions.’
‘David Ridenour is a client-friendly, solution-oriented attorney who works seamlessly to get deals done. Katie Weiss is brilliant and a pioneer in fiber and able to come up with creative and thoughtful solutions. Carolyn Alford is collaborative and is adept at developing cross-practice solutions.’
‘The team is thoughtful and organized. The team looks to understand the unique considerations of their clients as part of business and address accordingly. Additionally, the team does a great job of empowering their clients to better understand legal items by providing context and a thoughtful approach to resolution.’
Principaux clients
Compass Datacenters
CyrusOne, Inc.
Diamond Communications
eStruxture Data Centers
Jefferies
Principaux dossiers
- Represented a U.S. based global commercial and investment bank, as purchaser, in connection with the issuance of $174.4 million in secured IPv4 address revenue notes for a global internet service provider with operations across six continents.
- Represented Compass Datacenters in connection with a $5.5 billion DevCo warehouse facility.
- Represented a U.S. based global commercial and financial bank, as structuring agent and lender, in connection with a $1 billion asset-backed term loan facility for a leading broadband and telecommunications provider with nearly 10 million passings across a 21-state U.S. footprint.
McDermott Will & Schulte
Commended for its ‘level of dedication to client service and attention to detail,’ McDermott Will & Schulte is well‑positioned to advise on the full range of CLO transactions, representing a client base that includes leading investment and asset‑management firms. Craig Stein, who co‑leads the group, brings extensive experience across syndicated CLOs, arbitrage cash‑flow CLOs and warehouse financing facilities. Fellow co‑head Boris Ziser is regarded for his work on forward‑flow arrangements and warehouse credit facilities, and offers additional expertise in alternative‑asset structures. Stephen Schauder advises on complex financings and cross‑border transactions, while Phillip Azzollini focuses on refinancings and warehouse facilities. Daniel Oshinsky is experienced in private‑credit CLOs and asset‑based credit facilities. Other key individuals include Vera Quagliato, who supports the team across a broad range of transactions. All lawyers mentioned are based in New York.
Responsables de la pratique:
Craig Stein; Boris Ziser
Autres avocats clés:
Stephen Schauder; Phillip Azzollini; Daniel Oshinsky; Vera Quagliato
Les références
‘The team at MWS who represents my firm on CLO transactions is second to none. Their standout quality is the level of dedication to client service and their attention to detail.’
‘Phil Azzollini is the most conscientious attorney in the CLO business. He has an elephant’s memory of our platform and transactions, and is always thinking a couple steps ahead in terms of risks.’
Principaux clients
Allstate Investment Management Company
Aristotle Pacific Capital
AS Birch Grove
Blackstone, Inc.
Brightwood Capital Advisors
Cerberus Capital Management
Fortress Investment Group
GoldenTree Loan Management
Gramercy Funds Management
Marathon Asset Management
Mizuho Securities
MUFG Securities Americas
Natixis Securities Americas LLC
Romark Credit Advisors LP
Scotia Capital (USA) Inc.
Principaux dossiers
- Represented Cerberus Business Finance, LLC, an affiliate of Cerberus, as the servicer, and a fund managed by an affiliate of Cerberus, as transferor and retention holder, in the structuring and negotiation of a series of new-issue CLO transactions, secured primarily by US middle-market commercial loans.
- Represented various affiliates of Fortress Investment Group LLC, as sponsor, collateral manager, equity investor and retention holder, in connection with multiple broadly syndicated loan CLOs, middle market/private credit CLOs and collateralized bond obligation (CBO) transactions during the past year.
- Represented AS Birch Grove LP, as the portfolio manager, on a number of broadly syndicated CLOs during the past year.
Paul Hastings LLP
Paul Hastings LLP focuses primarily on CLO work while also bringing expertise in forward-flow transactions and financings, often involving cross‑border elements. The team is led by Eugene Ferrer, Nicole Skalla and Shawn Kodes in New York, alongside Washington DC‑based Rich Davis. Ferrer and Skalla head the structured credit practice and advise investment banks, financial institutions, issuers and investors on CLOs and structured credit matters. Davis leads the asset‑backed finance group, specializing in fintech‑related transactions, including forward-flow facilities and complex financings, while Kodes advises on asset‑backed finance, warehouse facilities and solar‑related matters. In New York, Matthew Nemeth handles financings, solar financings and forward-flow transactions, often involving solar assets, while Nicole Bright focuses on CLO transactions. New York-based John F. Murphy III joined from DLA Piper LLP (US) in March 2025, and Chicago‑based Megan Roberts joined the team from Sidley Austin LLP in July 2025.
Responsables de la pratique:
Eugene Ferrer; Nicole Skalla; Rich Davis; Shawn Kodes
Autres avocats clés:
Matthew Nemeth; Nicole Bright; Megan Roberts; John F. Murphy III; Robert Hopkins; Tracey Feng
Les références
‘This team is recognized as a market leader in CLO and structured credit transactions, distinguished by its ability to combine deep technical expertise with commercial pragmatism. Clients value the team’s ability to anticipate regulatory and market developments, deliver under compressed timelines, and provide clear, actionable guidance on complex issues.’
‘Compared to other firms, this team consistently sets the benchmark for efficiency, creativity, and reliability in structured credit. Their ability to deliver solutions that balance legal rigor with business objectives is what makes them the first choice for leading market participants.’
‘The individuals we work with at Paul Hastings consistently stand out for their depth of expertise, responsiveness, and ability to provide practical, business-oriented solutions. What differentiates them from competitors is not only their technical mastery of CLO and structured credit transactions but also their collaborative approach and accessibility—even on complex issues outside the immediate scope of a deal.’
‘Eugene Ferrer is a true thought leader in the CLO space, Eugene is our go-to resource for navigating complex legal and regulatory developments. His ability to distill nuanced issues into actionable guidance—even when he’s not directly engaged on a transaction—sets him apart.’
‘Nicole Bright is known for her precision and efficiency, Nicole manages documentation and negotiations seamlessly under tight timelines, ensuring flawless execution.’
‘Tracy Feng brings exceptional analytical rigor and a proactive mindset, often anticipating potential challenges before they arise.’
‘Across the board, these individuals embody qualities we value most: expertise, responsiveness, creativity, and a partnership mindset. Their ability to work seamlessly with arrangers, managers, investors, and rating agencies—and to do so with clarity and efficiency—makes them unmatched in the market.’
‘I have worked with Robert Hopkins and Rich Davis. They are noted for their incredible work for new issuers, and their transparency and their knowledge in various asset classes and structured finance in general, differentiates them from the rest.’
Principaux clients
Addi
AGL Credit Management
Apollo
Ares
Atlas SP
Bain Capital
Blackstone
BNP Paribas
BofA Securities
Carlyle
CIBC Capital Markets
Citigroup
CFG Partners
Dell
Deutsche Bank Securities Inc
GreensLedge
Group 1001
Jefferies
J.P. Morgan
KKR
Island Finance
Morgan Stanley
MUFG
Natixis
Nomura
Octane Lending
Parafin
PIMCO
Primary Wave
Royal Bank of Canada
Santander US Capital Markets LLC
Scotia Capital (USA) Inc.
Sixth Street
Société Générale
SMBC Nikko Securities
TCW Asset Management
Wells Fargo
Principaux dossiers
- Represented Octane Lending as they agreed to enter into a forward flow facility whereby up to $700 million of eligible receivables under the agreement may be sold to New York Life, MetLife Investment Management and Equitable.
- Advised global investment firm Blackstone (AUM $1 trillion) in connection with forward flow purchase arrangements, and related financing, of $1.15 billion of manufactured home loans originated by Triad Financial Services.
- Advised Morgan Stanley, as arranger, on Golub Capital Partners CLO 65(M)-R, a $2,494,700,000 MML CLO reset, managed by GC Investment Management.
Paul, Weiss, Rifkind, Wharton & Garrison LLP
Paul, Weiss, Rifkind, Wharton & Garrison LLP is regularly engaged in digital infrastructure transactions, securitization financings and whole‑business securitizations, with work spanning ABS and a range of esoteric asset classes. The team frequently advises investors, private equity sponsors and communications sector companies. Robert Zochowski Jr. heads the group from New York, with a practice covering financing and securitization matters across infrastructure, telecoms, fiber, music and tower assets. Charles Pesant advises on the securitization aspects of M&A transactions and handles warehouse finance facilities. Mikhel Schecter focuses on whole‑business and accounts‑receivable securitizations, while Hilary Christian is active in M&A and fleet‑lease securitizations, as well as cross‑border financings. All lawyers mentioned are based in New York.
Responsables de la pratique:
Robert Zochowski Jr.
Autres avocats clés:
Charles Pesant; Mikhel Schecter; Hilary Christian; Bob Zochowski
Les références
‘They are unique in the depth of their firm and subject matter expertise across a wide range of services.’
‘The quality of partners and associates are some of the best in the industry.’
Principaux clients
Apollo Global Management
Atlas SP Partners
Bain Capital
Brookfield Asset Management
Consolidated Communications Holdings
Church’s Holding Corp.
DigitalBridge
Element Fleet Management
Lyra Music Lenders Group
Radius Global Infrastructure
Roark Capital Group
SBA Communication Corporation
Searchlight Capital Partners
Symphony Towers Infrastructure
TPG Angelo Gordon
Vertical Bridge
17 Wingstop Restaurants No
18 Warburg Pincus
Sidley Austin LLP
Representing borrowers, issuers, underwriters and loan‑seller sponsors, the global finance group at Sidley Austin LLP advises on the full spectrum of ABS, CMBS, CLO and structured financing matters. The team is deeply embedded in the financial services and real estate sectors, with a client roster that includes KKR, JP Morgan Securities, Morgan Stanley and Wells Fargo Bank. In New York, Jonathan A. Nunes focuses on commercial mortgage loan securitizations, CRE CLOs and data‑center financings, while R.J. Carlson is active in credit‑linked note transactions and auto‑lease‑backed securitizations. Chicago‑based T.J. Gordon handles private student‑loan securitizations and warehouse facilities. Dallas's Angela Fontana and New York‑based Leslie A. Plaskon co‑lead the global finance practice alongside the aforementioned individuals, bringing extensive experience in complex structured‑finance transactions. In New York, Giselle M. Barth advises on single‑family rental securitizations, and Robert Kao focuses on CMBS transactions and data‑center financings. The group has continued to expand, with Christopher Jackson and Luke Maiman joining the team in New York from A&O Shearman in May 2025. Chicago‑based David K. Solow contributes expertise in private transactions, CFOs and forward‑flow purchase facilities.
Responsables de la pratique:
Angela Fontana; Leslie A. Plaskon; Jonathan A. Nunes; T.J. Gordon; R.J. Carlson
Autres avocats clés:
Giselle M. Barth; Robert Kao; Christopher Jackson; Luke Maiman; David K. Solow
Les références
‘Jonathan Nunes is simply amazing.’
‘Jonathan Nunes is the best attorney I know’
‘The Sidley team is well versed in both commercial and legal aspects of the Structured Finance market.’
Principaux clients
Ares Management
Bank of America
Bridge Investment Group
Carlyle Investment Management
Goldman Sachs
JPMorgan
KKR
Morgan Stanley
RBC Capital Markets
Société Générale
Starwood Capital Group
Truist Bank
US Bank
Wells Fargo Bank
Principaux dossiers
- Represented Carlyle and KKR as sponsor’s counsel in a series of securitizations for Nelnet Student Loan Trust Private Education Loan-Backed Notes, following Carlyle’s and KKR’s acquisition of the portfolio of prime private student loans from Discover Bank with a principal balance of approximately $10.1 billion.
- Represented Ares Management Alternative Credit funds in connection with its joint venture with Certified Automotive Lease Corp (“CAL”) to purchase up to US$1.5 billion prime new vehicle leases originated by CAL, a creative way for Ares to grow its investments in asset-based credit.
- Represented the underwriters in Truist Bank’s first credit-linked note (“CLN”) transaction, where the performance of the securities was linked to a $5,000,000,000 pool of automobile receivables held by Truist Bank, providing Truist Bank with credit protection on losses on that pool.
Weil, Gotshal & Manges LLP
Weil, Gotshal & Manges LLP is well‑placed to advise on ABS, CLOs, and a broad range of financings and refinancings, with the team active across consumer, commercial and esoteric asset classes. Frank Nocco leads the global structured finance and derivatives group from New York and brings deep experience in oil‑and‑gas ABS, credit‑card securitizations, tax‑loan securitizations and renewable‑energy financings. Jason Smith, who focuses on ABS, is adept at handling home‑improvement loan securitizations, fleet‑lease transactions and other consumer‑loan platforms. Jeffrey Dawidowicz advises on CLOs and refinancing matters, while David Jackson specializes in secured‑loan financings. All lawyers mentioned are based in New York.
Responsables de la pratique:
Frank Nocco
Autres avocats clés:
Jason Smith; Jeffrey Dawidowicz; David Jackson
Principaux clients
Aflac Asset Management LLC
Blackstone
Brigade Capital Management, LP
Enterprise Fleet Management, Inc.
Goldman Sachs
Goldman Sachs Asset Backed Securities Corp.
Guggenheim Securities LLC
HSBC Securities (USA) Inc.
J.P. Morgan Asset Management
KKR
Lendmark Financial Services, LLC
Mizuho Securities USA LLC
Morgan Stanley
Nuveen Alternatives Advisors LLC
The RMR Group
Service Properties Trust
Truist Securities, Inc.
Wheels Topco LLC
Principaux dossiers
- Advised Wheels Fleet Lease Funding 1 LLC, an affiliate of Wheels, LLC, in connection with the issuance of $1,000,000,000 in 144A notes backed by a beneficial interest in a revolving pool of leases and loans, along with the associated vehicles.
- Advised Nuveen Alternative Advisors LLC, KKR & Co. Inc., J.P. Morgan Asset Management and a syndicate of fifteen other investors in connection with the issuance by PureWest ABS Issuer, LLC of the $450,000,000 Series 2025-1, Class A-1, Oil & Gas Asset-Backed Notes, $310,000,000 Series 2025-1, Class A-2, Oil & Gas Asset-Backed Notes and $83,000,000 Series 2025-1, Class B, Oil & Gas Asset-Backed Notes collateralized by oil & natural gas assets.
- Advised Goldman Sachs in the issuance of AU$950 million of Australian insurance commission backed notes by Equity Trustees Limited, as Trustee of the Canopy Master Trust.
White & Case LLP
Primarily representing issuers, the securitization practice at White & Case LLP advises on a broad spectrum of ABS and whole‑business securitization transactions, with the team acting for investment funds, multinational financial institutions and major banks. The group is led from New York by David Thatch, who is particularly experienced in esoteric securitizations and frequently handles whole‑business securitizations, fleet‑lease transactions and financing matters. Also based in New York, Elizabeth Devine regularly represents issuers and underwriters in asset‑backed financings, receivables and securitization facilities, as well as consumer‑loan mandates. In Boston, Caitlin Colesanti is active across financings, rental‑car ABS transactions and whole‑business securitizations.
Responsables de la pratique:
David Thatch
Autres avocats clés:
Elizabeth Devine; Caitlin Colesanti
Principaux clients
Apoyo Financiero, Inc.
Avis Budget Rental Car Funding LLC
BNP Paribas SA
Calpine Corporation
EchoStar Corporation
Encore Capital
Great Bay Renewables Management, LLC
Guggenheim Securities, LLC
Jersey Mike’s Franchise Systems, LLC
KKR Financial Group
Kroll, LLC
Neighborly Company
NRG Energy, Inc.
Stone Point Capital
The Hertz Corporation No
TPG Angelo Gordon
Winston Taylor
With a focus on representing sponsors and issuers, the securitization practice at Winston Taylor is regarded for its work across RMBS, ABS and CLO transactions. The team is praised for its 'diligent attention to detail and creative thinking,' and is particularly strong in residential transition loans, closed‑end second‑lien products and mortgage‑servicing‑rights matters. Chris Gavin leads the residential asset finance and securitization offering, frequently advising underwriters and investors on REMIC structures, MSR transactions and RMBS‑related work. Heading the esoteric finance group, Pete Morgan brings expertise in residential and commercial PACE transactions, as well as lease‑back securitizations. In Chicago, Michael Mullins focuses on CLO transactions, with Russell Casper also active in this space. The practice has expanded with the arrival of Aaron Benjamin in Charlotte in July 2025 from Cadwalader, Wickersham & Taft LLP, adding further depth in RMBS, CMBS and CLOs, and New York-based Reuben Levavi, who joined from financial tech startup Theorem LP in January 2025. Michael Lyon regularly advises on RMBS matters. All lawyers mentioned are based in New York unless otherwise noted.
Responsables de la pratique:
Chris Gavin; Pete Morgan
Autres avocats clés:
Michael Mullins; Russell Casper; Aaron Benjamin; Reuben Levavi; Michael Lyon
Les références
‘The team’s knowledge is unmatched in their ability to identify potential future issues and suggest different outcomes to better serve our needs as clients. The team is available day or night for questions and is prepared with specific solutions.’
‘The individuals we work with are fully dedicated to meeting our needs and make us feel prioritized each step of the way.’
‘Winston & Strawn’s Structured Finance team’s deep industry expertise along with their diligent attention to detail and creative thinking have made them one of our top choices for legal advice and documentation for lender finance transactions.’
Principaux clients
Center Street Lending Corporation
Rain City Capital, LLC
Ascent Developer Solutions LLC
Barclays Bank PLC
Colchis Capital Management, L.P.
EverBank N.A.
Kiavi Funding, Inc.
PennyMac Loan Services, LLC
Performance Trust Capital Partners, LLC
TempleView Capital Funding, LP
Enel Generación Chile S.A.
OWN Equipment Fund I and II LLC
Petros PACE Finance, LLC
Rosemawr Sustainable Infrastructure
Experity Ventures, LLC
Honor Capital Holdings, LLC
Jefferies LLC
Operadora Falcon, S.A.P.I.
Churchill Asset Management LLC
Monroe Capital LLC
TPG Angelo Gordon
Principaux dossiers
- Represented Kiavi Funding, Inc., as sponsor, in connection with a series of four REMIC structured and rated 144A/Reg S RTL securitizations, totalling a combined value of over $1.4 billion.
- Represented Center Street Lending Corporation, as sponsor, in connection with their first ever 144A/Regulation S private placement securitization.
- Represented OWN Equipment Fund I LLC, a special-purpose vehicle, in connection with a $797 million leaseback securitization of construction equipment from Equipmentshare.
A&O Shearman
Alston & Bird LLP
Representing issuers, underwriters, sponsors, and purchasers, the team at Alston & Bird LLP handles ABS and RMBS securitizations, as well as forward‑flow programs, revolving credit facilities and consumer‑loan securitizations. Splitting her time between Washington DC and New York, Tara Castillo heads up the finance practice group, with experience in consumer loan ABS securitizations and forward-flow financings. Katrina Llanes heads the structured and warehouse finance team from New York, with her areas of focus being mortgage servicing rights, mortgage-backed securities, and syndicated financings. In New York, Kristen Truver often covers single family rental securitizations, while the 'highly competent' Aimee Cummo works on two-tier loan facilities and residential mortgage loans.
Responsables de la pratique:
Tara Castillo; Katrina Llanes
Autres avocats clés:
Kristen Truver; Aimee Cummo
Les références
‘Fantastic diverse team with great leadership. I’ve worked with A&B for nearly 15 years and have seen junior associates advance and become partners, and the team is always available and responsive, even during holidays and periods of remote work.’
‘Alston is highly responsive and always available.’
‘Aimee Cummo is everything you could ask for in outside counsel. She is highly competent and highly responsive. No matter how much high priority work we throw at her she manages to staff our matters and get them done in tight timing and still does a great job.’
Principaux clients
Hilton Grand Vacations
Bridge Investment Group Partners, LLC
Capital One Securities, Inc.
Brean Capital
Morgan Stanley Bank
Loandepot.com
Guggenheim Securities, LLC
Regional Management Corp.
Principaux dossiers
- Represented Hilton Grand Vacations, as issuer, in the issuance of $400 million of three tranches of term notes secured by timeshare loan receivables.
- Represented Hilton Grand Vacations, as issuer, in the issuance of $500 million of three tranches of term notes secured by timeshare loan receivables.
- Counsel to Regional Management Corp. in connection with its ninth and tenth term securitizations, involving issuance of $265 million and $200 million, respectively, of 144A and Regulation S notes backed by personal consumer loans.
Arnold & Porter
Arnold & Porter advises on a broad range of securitization and structured finance matters, including ABS, CLOs and financing transactions, with a strong focus on asset‑manager clients. The practice is co‑led by Chicago‑based Daniel Hartnett, whose work spans investment‑fund structures, CLOs and credit‑risk‑transfer securitizations involving aviation assets and commercial real estate. New York‑based Scott Berson co‑heads the team alongside Hartnett, and concentrates on receivables‑backed and inventory financings.
Responsables de la pratique:
Daniel Hartnett; Scott Berson
Eversheds Sutherland
The practice at Eversheds Sutherland spans CMBS, CLO and ABS transactions, with the team handling both whole‑business securitizations and securitizations for small businesses. In New York, practice co‑head John Benson focuses on securitized commercial real estate loans and has notable experience in mezzanine‑loan acquisitions and large‑scale real estate transactions. Washington DC‑based Lisa Rosen, who co‑leads the group, is highly experienced in real estate and real estate finance matters, with recent work in single‑family residential securitizations, CLOs, whole‑business deals and CMBS mandates. In Atlanta, Brennan Posner advises on warehouse credit facilities, while in Washington DC Thomas Sugan is active in commercial real estate transactions. New York‑based Emanuel Tsourounis, who joined from Cole Schotz P.C. in December 2024, brings expertise in revolving credit facilities and commercial real estate matters. In Atlanta, Tessa May Deardorff provides support across a range of securitization transactions.
Responsables de la pratique:
John Benson; Lisa Rosen
Autres avocats clés:
Brennan Posner; Thomas Sugan; Emanuel Tsourounis; Tessa May Deardorff
Principaux clients
Kalamata.com LLC
Principaux dossiers
- Advised Kalamata.com LLC on a 25% upsize of its Series 2024-1 securitization, increasing funding capacity and enabling expansion into new product areas. The transaction, referred by lead underwriter Guggenheim Securities, reinforces Kalamata’s position as a leader in alternative finance and private credit.
Norton Rose Fulbright
The team at Norton Rose Fulbright regularly represents issuers, warehouse lenders, underwriters, servicers and investors, with a practice spanning financings, forward‑flow purchase agreements and a particularly active presence in energy and solar‑related mandates. Co‑heading the team from New York, Patrick Dolan focuses on asset‑backed and mortgage‑backed securitizations, frequently advising on credit facilities, supply‑chain financings and receivables‑purchase transactions. Fellow co‑head Eric Tashman, based in San Francisco, is especially active in utility securitizations, an area in which New York‑based Matt Hughey also maintains a strong practice. Other noteworthy individuals include Austin‑based Arthur Kimball-Stanley and Dallas‑based Geren Brown, who support across a broad range of matters.
Responsables de la pratique:
Patrick Dolan; Eric Tashman
Autres avocats clés:
Matt Hughey; Arthur Kimball-Stanley; Geren Brown
Les références
‘Norton Rose has the best securitization practice we have encountered. In addition to world-class expertise, the firm offers a high level of customer service. I am particularly impressed by the attention given to structuring transactions, and the collaborative manner in which Norton Rose’s attorneys work with our in-house team. Quite simply, the firm delivers legal services of the highest quality, on time and at a competitive price.’
‘Patrick Dolan is one of the best lawyers I have encountered in my career. He understands the business issues as well as the legal issues, and is able to cogently articulate the reasons for the positions he takes. He makes it a point to be available to his clients, especially at all critical times. He delivers for his clients in a way that few lawyers do. Our company generally engages the largest and most reputable national and international firms. Even among this rarefied company Mr. Dolan stands out for his intellect and the customer service he provides.’
Principaux clients
JPMorgan Chase Bank
Southern California Edison Company
Bank of Nova Scotia
Varadero Capital
Jefferies
Goldman Sachs
Citigroup
RBC Capital Markets
Barclays Bank
Entergy Corporation
Tesla
Arosa Capital Management
GoodFinch Management
BNP Paribas
Santander Bank, N.A.
AG Resources
Axos Bank
Nationwide
Ropes & Gray LLP
With notable strength in whole‑business and digital‑infrastructure securitizations, the capital markets and securitization group at Ropes & Gray LLP advises on ABS, CLOs and a range of esoteric transactions. The group is led by Patricia Lynch in Boston, who heads the securitization practice, alongside capital markets heads Craig Marcus and Paul Tropp, who are based in Boston and New York respectively. Lynch is active in whole‑business securitizations and restructuring‑related matters. In New York, Christopher Poggi handles infrastructure‑backed ABS financings, ABS warehouse facilities and CLOs, while Matthieu Wharmby focuses on CFO matters, whole‑business securitizations and alternative‑asset structures.
Responsables de la pratique:
Patricia Lynch; Craig Marcus; Paul Tropp
Autres avocats clés:
Christopher Poggi; Matthieu Wharmby
Principaux clients
Altice USA
Frontier Communications
Domino’s Pizza
Carlyle AlpInvest
Hooters of America
Arcline Investment Management
Sound Point Capital
Simpson Thacher & Bartlett LLP
Particularly active in digital‑infrastructure and data‑center matters, Simpson Thacher & Bartlett LLP is well placed to handle ABS financings and securitizations, representing both issuers and underwriters. The team operates across a broad range of industries, including technology, vehicles, real estate and investment managers. Practice head John Schueller, based in New York, is active in fiber‑network, data‑center and tower‑revenue securitizations. Also in New York, Niels Jensen joined from Vinson & Elkins LLP in March 2025, bringing experience in warehouse facilities, corporate financings and whole‑business securitizations. In Washington DC, Katherine Draper maintains a practice spanning digital‑infrastructure transactions, auto‑loan securitizations and fleet‑lease deals.
Responsables de la pratique:
John Schueller
Autres avocats clés:
Niels Jensen; Katherine Draper
Principaux clients
ALLO Communications
DataBank Holdings
ExteNet Systems
Flexential Corp.
KKR
MassMutual
Stonepeak
Switch
TierPoint
Vantage Data Centers Issuer, LLC
Vertical Bridge Holdings, LLC