We advised on approximately $16 billion of hybrid and structured capital financings

Davis Polk’s hybrid and structured capital practice advised on over 60 transactions totaling approximately $16 billion in the last 18 months for a broad range of borrowers and lender counterparties, including leading private credit and private equity investors.

Our work spanned the full spectrum of complex capital solutions, including:

  • Preferred equity: $8.2 billion across 19 transactions
  • Equity co-investments and warrants: $5.3 billion across 31 transactions
  • Holdco and mezzanine debt: $1.1 billion across seven transactions
  • Junior lien or subordinated loans: $1.1 billion across five transactions

As financial markets evolve and financing options accelerate, our clients increasingly seek bespoke capital strategies that bridge the gap between senior debt and common equity. We deliver sophisticated, tailored advice to a diverse client base including alternative capital providers, private credit and private equity investors, issuers and borrowers, navigating a market landscape that increasingly favors hybrid and structured financing solutions.

Davis Polk’s hybrid and structured capital practice is led by finance partner Zachary R. Frimet and sponsor finance partner Nikolaus Caro, and includes finance partners Jason Kyrwood, Nicholas A. Palumbo, Kenneth J. Steinberg, David J. Kennedy, Ruben N. Henriquez, David Hahn, Nick Benham and Aaron Ferner and sponsor finance partner James A. Florack. Members of the Davis Polk team are based in the New York and London offices.

Copy link to share post