Orrick Adds 37-Lawyer CLO and Asset-Backed Lending Team to Its Comprehensive Debt Finance Platform

• The 37-lawyer team, which includes 10 partners, is the No. 1 CLO arranger counsel by volume in the UK and No. 2 in the U.S. (9fin) and is Chambers Global Band 1-ranked in both the U.S. and the UK.
• Joining the firm today are partners: David Quirolo, Daniel Tobias, Claire Puddicombe and Alex Collins in London; Joe Beach, Nate Spanheimer, Skyler Walker and Doug Arborio in Charlotte; and Gregg Jubin and Mike Gonzalez in Washington, D.C.
• The team is sought after for their expertise in developing innovative products, including the first European CLO 2.0 transactions. Their work has earned multiple Deal of the Year honors from GlobalCapital, notably the inaugural European middle-market private credit CLO, and in the U.S., the BlackRock DLF-VIII-L CLO Trust and the Ares XXX CLO transaction. They advise on emerging regulation in the U.S. and UK, including acting as counsel to the Loan Market Association, the leading voice of the loan market in the EMEA.
• The move solidifies Orrick's comprehensive debt finance law platform, combining one of the world's most active and respected CLO practices with both Orrick's U.S. private credit practice, which acts for more than 40 fund managers, and its leading securitization teams across Esoterics, ABS, RMBS and CMBS platforms. The combined teams have seven Chambers Band 1 or Band 2 practice rankings in securitization.
• As part of this move, Orrick is launching an office today in Charlotte, North Carolina, which will have 15 lawyers, including Orrick M&A and Private Equity Group co-leader David Ruff. The team adds six lawyers in D.C., three in New York and 14 in London (plus two trainees). With these additions, Orrick has 250+ Finance lawyers in 17 offices worldwide.
• The team joins from Cadwalader, Wickersham & Taft.

"The addition of this world-class team positions our firm uniquely to advise our private credit and banking clients as they innovate on private debt solutions. It advances multiple strategic priorities, including growing our London office and scaling our Finance practice with a team of remarkable quality," said Orrick Chair Mitch Zuklie. "We are truly excited to enter the Charlotte market, long a center of financial innovation and home to many valued clients. We look forward to collaborating with this team to continue to build around our shared vision of the future of the debt finance market. We will look back on this move as a game-changer for our clients and our firm."

"This addition brings together creative and experienced securitization practitioners across every asset class, strengthening our ability to innovate on today's structured products and help our clients develop new, market-driven solutions," said Leah Sanzari, Orrick Global Structured Finance Group Leader.

"The synergies across our practices will enable us to offer something truly unique to the market. We're combining two teams that have a long history of innovating on financial products at a moment when we believe the private structured products market is about to grow exponentially," noted B. J. Rosen, Orrick Global Finance Sector Co-Leader.

Orrick brings Chambers Global / USA leadership in CMBS (Band 1), RMBS (Band 2), ABS (Band 2) and Esoterics/PACE (Band 1), Restructuring in New York (Band 1), Structured Finance in France (Band 1) - and now, in CLOs in the U.S., UK and globally.

"We are extraordinarily excited about the synergies across our practices and the opportunities to deliver 360° solutions for our bank and fund clients across debt markets," said Nate Spanheimer. "One of the most significant U.S. market trends is the accelerating convergence of banks and private credit funds, and our combined platform is uniquely positioned to help parties execute legal, business and regulatory strategies to address this opportunity."

"It is an exceptionally dynamic moment for financial market regulation and a time when sophisticated financial institutions need a strategic partner to innovate. Orrick has long been known for innovation, and we are incredibly excited to build together with the Orrick team an absolute top-tier practice in London that serves clients across the global platform," said David Quirolo.

This team follows the addition last month of Anna Howell as head of the firm's global Oil & Gas practice, bringing the firm's lateral growth in London to eight partners this year. The Charlotte office will be the firm's fifth East Coast office and the second to launch this year, following Orrick's Miami office opening this summer with a three-partner M&A and private equity team focused on serving the region's growing tech and innovation ecosystem.

Joining Orrick in London

David Quirolo

A Chambers Global / UK Band 1-ranked CLO advisor, David practices on the frontier of the CLO, CFO, securitization and asset-backed finance markets across the U.S. and Europe. He represents leading banks, arrangers and asset managers in sophisticated structured finance transactions. As a key representative for the Loan Market Association on regulatory matters affecting the CLO market, David regularly engages with EU and UK regulators and legislators to shape the evolving landscape of structured finance. He is also highly experienced in "cash flow," "market value" and hybrid structures. He previously served as co-managing partner of Cadwalader's London office and as a member of the management committee.

Daniel Tobias

Daniel is a leading securitization lawyer with deep expertise in CLOs, having advised arrangers, collateral managers and warehouse finance providers on a wide range of European CLO 2.0 transactions and loan warehouse facilities. He has been at the forefront of the European CLO market since its resurgence following the global financial crisis, guiding clients through numerous CLOs, including those with complex originator retention structures. He is recognized as a leading practitioner by Chambers Global / UK Band 3, The Legal 500 UK and IFLR1000.

Claire Puddicombe

Claire is widely recognized for her innovative work in European CLOs, advising leading banks, arrangers, collateral managers and warehouse finance providers on CLO 2.0 transactions, loan warehouse facilities, EU and UK retention compliant structures and captive equity funds. She pioneered the first CLO to incorporate ESG factors across all investments. Claire serves as Practice Head in The Legal 500 UK for securitization, derivatives and structured products and is recognized by Chambers Global / UK Band 3. She was honored as the Structured Finance and Securitization Lawyer of the Year at the IFLR Women in Business Law Awards (2021).

Alex Collins

A securitization rising star, Alex advises investment banks, asset managers, and investors on a wide range of structured finance transactions, with a focus on CLOs, CFOs, and asset-based lending facilities. He has guided clients through numerous public CLO transactions and related matters such as originator retention structures and retention financings. Alex is recognized as a Rising Star by The Legal 500 UK and Legal Media Group. His experience includes seven years at Allen & Overy and secondments to the structured finance legal teams at Barclays and Goldman Sachs.

The Team Launching Orrick Charlotte

Joe Beach

Recognized by Chambers Global / USA Band 4, Joe advises investment banks, major commercial banks and asset managers on securitization and structured finance transactions, focusing on CLOs and leveraged corporate credits. He has deep experience with syndicated and middle-market/private credit CLOs and SBA7(a) loan securitizations. Joe was most recently the co-chair of the capital markets group at Cadwalader and previously served as co-chair of the SFIG Bank Securitized Lending & ABCP Committee. Prior to his private practice, Joe served as a Captain in the United States Army Judge Advocate General's Corps, where he was assistant general counsel for fiscal and international law for the U.S. Army Corps of Engineers.

Nate Spanheimer

Nate is an accomplished structured finance lawyer, known for introducing innovative deal structures to the market. He advises commercial banks, investment banks, other institutional lenders and underwriters on a broad range of secured commercial lending and capital markets transactions, including syndicated and bilateral lending deals, as well as CLOs. He also has a background in representing both borrowers and lenders in leveraged finance credit facilities, bankruptcy exit facilities and hedge fund financings.

Skyler Walker

Skyler advises investment banks and other institutional lenders and underwriters in secured commercial lending transactions (both syndicated and bilateral deals) and CLOs. She also represents financial institutions as lenders and lead agents in subscription credit facilities. A rising star in her field, Skyler served on Law360's Capital Markets Editorial Advisory Board in 2024.

Doug Arborio

Doug advises investment banks, financial institutions and other market participants in asset-backed securitizations, secured commercial lending transactions (both syndicated and bilateral) and CLOs. He represents clients in their roles as issuers, underwriters and sellers, with a focus on public and private securitizations involving commercial and residential mortgages, corporate loans, receivables and mortgage servicing rights. Doug also has deep experience structuring and negotiating financing facilities, warehouse lines and repurchase agreements. He was most recently special counsel at Cadwalader, where he practiced for nearly a decade.

Joining Orrick in Washington, D.C.

Gregg Jubin

Gregg, a Chambers Global / USA Band 2-ranked advisor, specializes in corporate and finance transactions involving hedge funds, private equity fund of funds, structured funds, CLOs, CFOs, derivatives, synthetic structured products and other structured products. He brings expertise in structuring and organizing onshore and offshore hedge funds, including commodity pools, fund of funds, and master/feeder funds, as well as private equity fund of funds and other investment vehicles. He also provides strategic counsel on compliance with various federal and state securities and commodities laws and regulations. He was most recently the managing partner of Cadwalader's Washington, D.C. office and a member of the management committee.

Mike Gonzalez

Mike advises issuers, underwriters, lenders, sponsors and investors across a broad spectrum of structured finance transactions, including CLOs, CFOs, rated note feeders and asset-backed lending facilities. He regularly guides clients through all stages of these transactions, including structuring, formation and regulatory considerations. Deeply committed to pro bono service, Mike also counsels charitable organizations on formation, governance and tax-exempt status. He was previously special counsel at Cadwalader, where he began his legal career.