Allen & Overy (A&O) has bolstered its US leveraged finance practice with the hire of White & Case partner duo Gordon Mak and Stanimir Kostov in New York.  

Mak and Kostov join from White & Case’s debt finance practice and private credit and direct lending practice, respectively. The pair bring with them more than two decades of experience acting for clients across the leveraged finance market.  

The move reunites Mak and Kostov with partner Jake Mincemoyer, who joined A&O from White & Case to lead its US leveraged finance practice back in February. 

The hires are the latest move in the magic circle firm’s ongoing drive to invest in its US capability, which the firm signalled as a strategic priority in 2016 when it hired five New York partners, including a trio from White & Case. 

Mak, who jumped to White & Case from Linklaters in 2018, handles cross-border financings, restructurings and work-out transactions on behalf of lending institutions, private equity sponsors, private credit firms and corporate borrowers. Before joining Linklaters, Mak held roles at Debevoise & Plimpton, Cahill Gordon & Reindel and Merrill Lynch.  

Kostov also moved to White & Case in 2018, from US rival Goodwin Procter. He focuses on advising credit funds, alternative capital providers, banks, corporate borrowers and private equity sponsors in a variety of debt financing transactions. He moved to Goodwin in 2015 from Winston & Strawn, where he served as an associate attorney.  

“These hires are a continuation of our plan to deepen our bench of highly experienced and commercial leveraged finance lawyers in order to meet the growing demand for such service across the syndicated lending and private credit markets,” Mincemoyer said. “I look forward to continuing to grow our leveraged finance practice as A&O further expands its U.S. offering.” 

A&O’s leveraged finance practice currently boasts more than 250 lawyers across the US, EMEA and Asia Pacific.  

Tim House, A&O’s US senior partner added that the hires will “accelerate the momentum” of the firm’s US leveraged finance practice, which he says is distinguishing itself as a “top player” in the industry.  

Last year, Debtwire ranked its US leveraged finance practice in the top ten across 14 categories of its 2020 North American league table report, including as counsel for lead banks and borrowers in buyouts.  

The firm has also been building up its leveraged finance outfit across the pond. Last month, it added veteran partners Annette Kurdian and Robert Burt in a rare lateral hire from magic circle rival Linklaters to restock its team after raids from US firms over the past year.  

In March, A&O opened in Los Angeles after hiring a highly-rated six-partner US project finance and renewables team from Akin Gump Strauss Hauer & Feld.