概要

Mayer Brown advises market-leading sponsors, credit and structured equity funds, and issuers on the full spectrum of hybrid capital solutions. We help clients fill the space between senior secured debt and control equity with customized instruments that finance acquisitions and growth, deliver liquidity, support dividend recaps, and stabilize businesses in rescue or special-situations contexts. Our teams combine private credit and capital markets experience with rigorous execution discipline, producing structures that travel across borders and perform in both base and downside cases.

Who We Serve

We work with private equity sponsors, private credit and opportunities funds, structured equity funds, venture and growth investors, sovereign and institutional capital providers, and public and private company issuers. Our practice supports both sponsor-backed and nonsponsored deals, management teams, and boards, adapting to the commercial dynamics and documentation standards that differ across those contexts.

How We Work

Speed matters in private markets. Our teams are purpose-built for compressed timelines on multi-instrument capital stacks, enabling clients to move first and close confidently without sacrificing diligence. We place defensive structuring at the center of our approach, aligning instrument terms, intercreditor outcomes, and enforcement pathways from day one. Our documentation focuses on preserving economics and control rights when situations deteriorate, with clear covenant frameworks, governance mechanics, redemption features, and calibrated equity upside. We translate sponsor, lender, and issuer priorities into executable term sheets and definitive agreements that maximize risk-adjusted returns.

Cross-Border Execution and Integrated Coverage

Hybrid capital solutions increasingly cross borders and involve complex tax, accounting, regulatory, and restructuring considerations. Mayer Brown’s global platform delivers one-team coverage that integrates private credit, capital markets, fund finance, tax, restructuring, and regulatory capabilities. With professionals across the Americas, Europe, and Asia-Pacific, cross-border transactions receive coordinated counsel from teams who understand local market dynamics and regulatory requirements.

経験

We structure and execute hybrid instruments that deliver flexible capital, protective covenants, and appropriate upside mechanics. Our team regularly works with first-lien unitranche, second-lien facilities, mezzanine, preferred equity, PIK HoldCo notes, and bespoke instruments. We frequently design pre-IPO and IPO-adjacent financings that accommodate listing-readiness while preserving investor protections. Where regulatory or rating-agency constraints apply, we build terms that align economic outcomes with required treatment.