Proskauer Picks Up White & Case Private Credit Partner in Boston

Proskauer Rose is picking up a private credit partner from White & Case as law firms look to capitalize on private debt’s surging deal activity.

Jessica Shearer is rejoining the firm as a partner in Boston, after leaving Proskauer in March 2022 for White & Case.

“Having worked closely with Jessica for many years, I’ve seen firsthand how her insight into market trends and her tailored approach to client relationships can make an impact and create a competitive edge for direct lenders,” said Gary Creem, co-head of the Firm’s Private Credit Group, in a statement.

After going under the radar for decades, private debt has grown to an asset class of about $1.5 trillion globally as of September 2022. Deals are expected to reach $2.2 trillion by 2027, according to projections by London-based investment data company Prequin Ltd.

Law firms are looking to build out their benches to capitalize on the deal activity.

Proskauer was one of the earliest firms to get into the private credit space. It has built out a practice of more than 90 lawyers working on private credit matters across its offices in the US and London.

Over the last five years, Proskauer has handled more than 1,000 deals for over 75 private credit clients across the US and Europe worth more than $260 billion.

The firm earlier this year Ares Management Corporation funds on the financing of Eagle Football Holdings Bidco Limited’s acquisition of a controlling stake in French Ligue 1 football club, Olympique Lyonnais Groupe SA.

Shearer works with private credit providers, including senior lenders, business development companies, mezzanine funds, insurance companies and sovereign wealth funds, in connection with acquisition financing, refinancing and restructuring transactions.

“Proskauer is a trailblazer when it comes to private credit,” Shearer said in a statement. “Their breadth and diversity of experience, clients and deals in the industry are unmatched, having established their stronghold in the market more than 20 years ago.”