Debt finance

Hogan Lovells Adds to Wall Street Bench with Morgan Lewis, Debt Financing Partner

Hogan Lovells, a global firm with strong roots in Washington, DC, continued to deepen its Wall Street presence and transactional activities by bringing in debt finance specialist Matthew Schenecke as a new partner in New York.

Schenecke comes from Morgan, Lewis & Bockius, where he has spent his entire career.

At Hogan Lovells he will be part of the firm’s Corporate and Finance practice, continuing to work with private credit funds, non-bank lenders, borrowers and other corporate clients.

Schernecke has extensive experience in direct lending, hardship / special lending and cross-border acquisition finance, as well as financing in the growing environmental, social and governance (ESG) markets and impact investing.

He said he chose to move to Hogan Lovells because of the opportunity the firm gave him to be an entrepreneur and set up a firm.

“The American practice is certainly growing, and I think they were looking to bring in someone who could help them, with experience in the specific types of transactions that I handled, and to develop their practice in the States. -United, ”he said. .

Hogan Lovells, which has strong financing and corporate transactions in the UK, Europe and other international markets, is in the midst of a concerted push to take more Wall Street business to its rivals in the United States

“[New York] is a natural complement to their already incredibly strong UK practices and other practices in the financial field, ”said Schenecke.

In a statement announcing the arrival of Schernecke, James Doyle, global head of corporate and financial practice at Hogan Lovells, confirmed that the firm “is growing [its] financial capabilities in New York ”to meet the“ growing needs ”of its customers.

In the same statement, the company’s New York managing partner, Michael DeLarco, said the hiring of Schernecke reflects the company’s ambition to invest in “key US strategic markets, including New York, Washington. , DC and California “.

Doyle said lawyers for Hogan Lovells had worked opposite Schernecke and believed he would add “significant strength” – especially in direct loans and loans in distress or special situations.

Schenecke himself believes his area of ​​practice is ripe for growth. He saw the acquisition activity remain strong.

“After the pandemic, the idea is that there is more pent-up demand for capital – there is a lot of transaction activity and a lot of M&A deals need to be funded,” he said. There is also significant refinancing activity, he said, with people who “may not have the best track record” looking for financing. In such a climate, Schernecke believes that potential clients may be more interested in financing opportunities in difficulty or in special situations, because “there are a lot of borrowers who are in need of liquidity and who are interested in exploring alternatives. “.

Schernecke comes to a firm that has made several high profile additions to its Wall Street bench over the past year, including Kirkland & Ellis attorney Richard Aftanas, Latin America financial partner Ben Garcia and the M&A and sports industry consultant Steve Argeris.

Other DC companies are also looking to make waves in New York’s troubled debt market. In August, Crowell & Moring lured goodwin Procter’s litigation attorney Brian Hail, adding to a team that was swelled by a combination with Kibbe & Orbe.