What is it like to practice debt finance in Houston? Are there a lot of law firms and clients out there? Bank teams and private credit funds?

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Tons of energy and infrastructure finance and general PE/leveraged finance. Top lender side shops are LW, PH, STB and Bracewell. Next tier for Lender is Haynes Boone. Top Borrower shops are KE and VE and then maybe BB and GDC in the next tier. Sidley also has a top practice that is more balanced than the others and also has some ABS work. I’ve worked at 2 of the above and have friends at many. Happy to answer any questions if you want to DM.

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I was going to but they are somehow still band 1

There are energy related private credit funds and the like but there is a greater concentration of non-energy credit funds in Dallas. A lot of debt finance folks exit to PE firms and their portcos to handle their debt and project financing needs. If you are looking for lender side exits though most of them would be at banks from what I have seen. Most of my lender side work has been with banks, a few smaller debt funds in Houston and then larger asset managers where the relationship really originates in NY. My practice is mostly borrower side now and a split between pubcos and PE with probably a 75% concentration in energy work. I regularly come across the same lender side shops for instance STB representing JPM, Bracewell representing WF, PH representing TCB, etc. Still come across Cahill, DPW and other big firms in NY as well.

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HOUSTON WE AHVE A LROBLEM

Thank you, A2. Good exits from BL? Good concentration of asset managers, private credit funds there?

Lol DF has shite exits, just look on LinkedIn. Nobody can leave biglaw until year 6 at least, and then they either join some bank or some random financial company

Do you have a lot of opportunities for client development in Houston or do you find yourself frequently traveling to say Dallas or NYC?

Most of my clients are in Houston or NY

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