Recognizing Latham & Watkins’ representation of issuers and underwriters involved in complex transactions across a vast scope of industries, Law360 has named the firm’s Capital Markets Practice a “Group of the Year” for 2015.
Law360 highlighted that Latham overcame the wobbly market to advise on the most IPOs in 2015, according to Dealogic data, and attributed that success to the firm’s extensive work with both issuers and underwriters. Latham’s ability “to serve disparate industries spanning from consumer retail to restaurants, health care, life sciences and energy, among other sectors” was also mentioned as key to the firm’s success.
“The diversity of our practice helps smooth out the jagged edges of volatility,” Marc Jaffe, Co-chair of Latham’s global Capital Markets Practice, told Law360.
Latham’s representation of Shake Shack in its US$120 million offering in February 2015 was cited by Law360 as indicative of “not only the firm’s strength in guiding restaurant offerings but also its ability to steer complex deals.” In reference to the Up-C structure that Shake Shack used, Jaffe noted, “it is a very complex structure that requires a very complex tax analysis, but when done right, it provides a tremendous economic and tax benefit.”
In addition to Latham’s market-leading position guiding restaurant IPOs, the firm remains at the forefront of the hot life sciences IPO market. Law360 recognized the firm’s role advising the underwriters with Axovant Sciences Ltd.'s US$362.3 million IPO, the proceeds of which will be spent on developing a pipeline focused on treating dementia in patients with Alzheimer’s disease, as being particularly notable.
Comprised of some 300 lawyers around the world, Latham’s Capital Markets Practice offers the vast resources of a global platform while maintaining an in-depth understanding of local markets and industry-specific issues. The team advises investment banks, issuers and private equity sponsors of all sizes on developing and executing a broad array of securities products, from the standard to the most innovative.