Simpson Thacher & Bartlett Hires Partners from Paul Weiss and Latham & Watkins

Simpson Thacher & Bartlett Hires Partners from Paul Weiss and Latham & Watkins

Simpson Thacher & Bartlett has recruited lawyers Tracey Zaccone from Paul, Weiss, Rifkind, Wharton & Garrison and David Teh from Latham & Watkins as partners to co-lead its alternative capital and private credit practice group.

Zaccone served as head of the hybrid capital practice and co-head of the special situations practice at Paul Weiss, according to Simpson Thacher. She actively advises private equity sponsors and their portfolio companies, financial institutions, investors, and public companies on capital raising deals. Her work includes complex private capital, hybrid and convertible instruments, including convertible and non-convertible preferred debt and equity offerings in private, pre-IPO and public transactions. She has also advised clients in connection with out-of-court special situations matters.

Her clients include Apollo Global Management Inc, Oak Hill Advisors and The Carlyle Group.

David who was working as Partner from Latham & Watkins, extends advisory services to direct lenders, investment banks and corporate borrowers on direct loans and syndicated credit facilities. His work includes both US and cross-border leveraged acquisition financings, unitranche facilities, ‘recurring revenue’ loans, ‘stretch senior’ loans, first- and second-lien credit facilities and leveraged and investment grade corporate credit facilities. He also advises on financings for workout and restructuring situations, recapitalizations, and other customized loan financings.

His clients include Ares Capital Corp, Partners Group Holding AG and Compass Minerals Inc.

Alden Millard, Chair of Simpson Thacher’s executive committee said, “Alternative lending sources are playing an increasingly large role in financing transactions, and our alternative capital and private credit team offers clients a platform focusing on private capital solutions across the capital structure, including structured debt and equity products, PIPEs, growth equity, direct lending and other complex financings.”

He added, “The expertise that Tracey and David have in developing cutting-edge financing structures combined with our bench in the area will be invaluable to our clients. We are delighted to welcome them to Simpson Thacher.”

The pair will lead a 45-strong practice comprising lawyers from across Simpson Thacher’s banking and credit and capital markets teams, supplemented by lawyers focused on M&A, private and registered funds, fund finance, derivatives, bank regulatory and tax matters. The team actively works with special situations practice to support clients in liability management transactions and other innovative financing matters.

Ken Wallach, Co-head of Simpson Thacher's Capital Markets practice in his statement said, “Alternative capital is a fast-growing segment of the financing market as companies seek progressively bespoke, multilayered products to meet dynamic and changing market conditions.”