The London office of US firm Weil Gotshal & Manges has completed its first major deal for investment bank Goldman Sachs International.
Capital markets partner Erica Handling impressed the bank with her expertise in collateralised debt offerings (CDO), after completing the first one in Europe last year for Morgan Stanley.
Goldmans then instructed her to do the structuring of its latest CDO, which is the biggest-ever euro-denominated one, with a mainly euro-denominated asset portfolio.
Weil Gotshal’s London managing partner Mike Francies says: “We have done a bit of stuff for Goldman Sachs in New York but we are a very peripheral law firm for them over here. We basically got that job because Erica had done the very first one of these CDOs – she has really achieved it because of her expertise.”
Concerto IBV is a euro451m (£270.6m) CDO offering in nine tranches.
Goldmans acted as structurer and underwriter on all tranches of the offering, while fund manager AXA Investment Managers Paris acted as investment adviser to the portfolio of assets. AXA was advised by Linklaters & Alliance in Paris.