We advised on 36 transactions for a broad range of borrower and lender counterparties

Davis Polk’s hybrid and structured capital practice advised on 36 transactions totaling over $7.2 billion in the first half of 2026 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:

  1. Preferred equity: over $4.4 billion across nine transactions
  2. Equity co-investments and warrants: $91 million across 13 transactions
  3. Holdco and mezzanine debt: $286 million across five transactions
  4. Junior lien and subordinated loans: over $2.4 billion across nine transactions

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, Ryan D. McNaughton, 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