Italy’s Carnelutti launches in New York through joint venture

Italian firm Carnelutti Studio Legale has forged a joint venture association with New York firm Altieri Esposito & Minoli to open in the US.

The joint venture will operate as AEM Carnelutti Law Firm and will offer legal services to US investors in Italy and to Italian businesses in the US, particularly in the real estate, metal engineering, energy, fashion, food and media sectors.

Carnelutti is acquiring an interest in Altieri Esposito’s capital as part of the deal and the firm will operate from offices in Manhattan.

Carnelutti managing partner Luca Arnaboldi said the firm had been seeking a New York partner for some time. The firm previously had an office in the US but closed it over a decade ago.

The firm spent two years as part of US firm McDermott Will & Emery, but the merger fell apart in 2005 with McDermotts retaining the firm’s Rome office and a presence in Italy.

The US has long been a source of investment for Italian firms and others present in the market include Chiomenti and Gianni Origoni Grippo Cappelli & Partners. Earlier this year technology boutique Portolano Cavallo also launched in New York.