Paul Hastings hires Bill Brady to lead alt lending practice

The former Proskauer partner will focus on building out Paul Hastings’ presence in the space.  

Law firm Paul Hastings has appointed Bill Brady as a partner in New York and head of the firm’s alternative lender group, focused on growing the firm’s presence in the area.

Brady was previously a partner at Proskauer, representing alternative lenders. The firm had grown its reach and deal volume in the alternative lender space significantly over the last several years.

Brady’s practice at Paul Hastings focuses on complex finance transactions and credit arrangements, particularly financings that include a junior capital component or multiple tranches of debt. At Proskauer, he regularly structured and negotiated a range of financing facilities, including mezzanine debt, second-lien loans, bifurcated unitranche facilities, first-out/last-out arrangements, term “B” facilities and holding company note purchases.

While there, he worked with an array of alternative lenders, including mezzanine funds, second-lien lenders, hedge funds, BDCs, SBIC funds, insurance companies and specialty finance firms. Over the past five years, he has structured and closed 150 financings for transactions ranging from $10 million to $2 billion across a range of industries.

“Bill’s arrival advances our efforts to recruit top talent so that we are a firm of choice for financial institutions’ most important transactions across the capital structure,” said Elizabeth Noe, chair of the corporate practice at Paul Hastings. “Our recruitment efforts have helped establish Paul Hastings as a go-to financing firm for leading banks and Bill’s addition paves the way for us to solidify our foothold with alternative finance providers.”

“Bill will be a significant asset to Paul Hastings. His arrival builds on our existing strengths in acquisition finance and distressed debt and will provide us the opportunity to expand our alternative finance work in these and related areas,” said Jennifer Yount, chair of the finance practice at Paul Hastings. Paul Hastings already works with a number of the top distressed managers and is now aiming to build its book of business around direct lending from alternative investment firms.