Nicholas Palumbo, the head of White & Case’s Americas private credit and direct lending practice, is joining Davis Polk & Wardwell.
He brings to Davis Polk his experience advising direct lenders, banks, corporate borrowers, financial sponsors and other debt investors on transactions such as senior stretch facilities and secured syndicated loans. His clients have included Golub Capital, Owl Rock Capital, Antares Capital and Deutsche Bank.
“With Nick on board, we further solidify our position as the leading firm for complex financings,” said Neil Barr, Davis Polk managing partner, in a statement.
Palumbo becomes the second lateral hire in recent weeks by the Wall Street firm, who in September moved to a modified lockstep compensation system in part to compete in the ever-intensifying race for talent in Big Law.
Davis Polk’s capital markets practice had a banner year last year, advising on IPOs valued at more than $30 billion—more than any other law firm. The firm was also first in 2020 to provide its associates a special bonus of up to $40,000 in the fall.
“Direct lending has become a key source of financing for many transactions,” Barr said, adding that the firm is “uniquely positioned” to guide clients on spectrum of deal structures.
Palumbo began his career at White & Case as an associate in 2004 before jumping to Goodwin Procter in 2010, where he became partner in 2013. He rejoined White & Case in 2018.
Earlier this month, Davis Polk added Buckley’s Daniel Stipano, a former official at the Office of the Comptroller of the Currency, as a partner in its financial institutions and regulation group in Washington. Ahead of its shift to its compensation system last year, Davis Polk also added antitrust lawyer D. Jarrett Arp from Gibson Dunn & Crutcher.