Simpson Thacher & Bartlett has hired distressed company specialist David Nemecek from Kirkland & Ellis to head up the firm’s newly created capital structure solutions practice.
Nemecek, who is based in Dallas, joins as a partner, with the new practice integrating Simpson Thacher’s existing liability management, special situations and restructuring capabilities into a single global group. The capital structure solutions practice will advise companies, sponsors and lenders on matters related to financing strategy, liability management exercises, distressed M&A and chapter 11 restructurings.
The firm said it is also planning to open in Dallas as part of the capital structure solutions practice launch.
Alden Millard, chair of Simpson Thacher’s executive committee, said: “Dave is widely regarded as the preeminent architect of modern liability management and is one of the most influential advisers to distressed companies of his generation.
“Over the past decade, companies, sponsors, lenders and creditors have all turned to Dave for his expertise in solving their most difficult capital structure challenges. We are thrilled to welcome him to the firm and are excited about what lies ahead.”
Nemecek joins Simpson Thacher after 15 years at Kirkland, where he was a partner. He had previous associate stints at Skadden Arps, Gibson Dunn and Cravath Swaine & Moore.
Alexandra Kaplan and Brian Steinhardt, co-heads of the firm’s banking and credit practice, said: “We are making a long-term investment to build a destination capital structure solutions practice under Dave’s leadership, enhancing our capabilities to deliver the most sophisticated, innovative and solutions-oriented advice in the market.”
The firm said the launch of the new practice comes amid an increasingly diversified capital markets landscape where sponsors, companies, lenders and funds face complex and novel structural challenges that need specialist advice. It will work closely with the firm’s banking and credit and capital markets teams.
Nemecek said: “Simpson Thacher has one of the world’s premier global legal advisory platforms grounded in excellence, unparalleled client service and deep, long-term relationships. Helping launch its capital structure solutions practice, alongside partners who are both exceptional lawyers and true collaborators, is a rare opportunity, and I am honoured to join the team as we focus on providing the best advice to our clients.”
In October last year, Latham & Watkins expanded its US restructuring bench with a trio of partner hires from Ropes & Gray, including Ryan Dahl who chaired Ropes’s restructuring business.
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