White & Case Lands Two Proskauer Rose Private Credit Lawyers

White & Case is adding two private debt transactions lawyers from Proskauer Rose as partners in its Boston office as that practice area surges for the firm.

Jessica Ball and Jessica Shearer advise private credit providers such as business development companies, insurance companies and sovereign wealth funds, among others, on a range of financing structures.

White & Case’s U.S. private credit and direct lending active matters were up 26% last year compared with 2019, the firm said. It represented Blackstone Credit and is affiliates on Advent International’s multi-billion acquisition of Cobham, a global technology and services company, according to its website.

The hiring of Ball and Shearer, who were both associates at Proskauer, follows the additions of Vincenzo Lucibello, who joined the firm’s Boston office earlier this month, and Brad Laken, who joined the firm’s Chicago office in November 2021.

The two new partners are arriving “at a time when the private debt markets are placing a premium on the highest quality of financing advice,” said Eliza McDougall, White & Case’s regional section head of Americas Banking.

Among other firm clients are BMO Sponsor Finance, the Carlyle Group and Deutsche Bank Direct Lending.

The private credit area is flourishing, David Ridley, co-head of White & Case’s U.S. private credit and direct lending group, said in an interview.

“A tremendous amount of capital has been raised and all that money needs to be put to use,” Ridley said. “There is a tremendous amount of competition for deals, which has created a wave of activity in the private credit space, and some of those deals are not syndicated so there is opportunity for other lenders.”

Eric Leicht, head of White & Case’s global debt finance practice, said in a statement that the addition of the two partners gives Boston a “critical mass” and “adds another important hub in our growing private credit platform.”

McDougall said the firm is looking to expand beyond New York in what it sees as other key growth markets, with the target cities being Boston, Chicago and Los Angeles.