Paul Hastings turns to Cahill Gordon for NY finance partner

US firm Paul Hastings Janofsky & Walker has raided Cahill Gordon & Reindel for the second time in a month for another partner hire to boost its New York leveraged finance team.

Partner Michael Michetti, who advises numerous global banks on both bank lending and high-yield bond transactions, has joined the firm just weeks after leveraged finance partner Rich Farley also defected from Cahill.

Michetti’s practice is mainly focused on leveraged financings for acquisitions, recapitalisations and take-privates, and Michetti has represented lead arrangers, underwriters, initial purchasers and placement agents in syndicated loans, public and private high-yield offerings and secured bank loans across a wide range of industries.

William Schwitter, chair of the leveraged finance practice, said the hire of Michetti marked the next step in the firm’s expansion of the practice in order to handle increasingly complex transactions.

“Mike’s widely recognised as a go-to leveraged finance lawyer and his experience on large and complex transactions will allow us to better serve our clients,” he said.

Commenting on his appointment, Michetti said: “This is a great opportunity for me to offer my clients access to the global network and broad practice mix at Paul Hastings.”

The new appointment follows Paul Hastings’ hire of corporate partner Garrett Hayes from Macfarlanes for its London office last month (16 June 2011).

Earlier this year the firm also hired a team of five partners from Hogan Lovells and Proskauer for its Paris office.