Cahill Gordon & Reindel LLP has strategically recruited Dan Amato, previously the head of sponsor finance practice at Orrick Herrington & Sutcliffe LLP, to join its burgeoning private credit team in New York. This move underscores Cahill’s fervent commitment to scaling its private credit capabilities in response to the shifting dynamics within the leveraged finance sector. Amato, who will serve as a partner, brings a wealth of experience from Orrick, where he joined in 2021 after tenure with Kirkland & Ellis LLP. His career has been notable for advising major entities such as BlackRock, HPS Investment Partners, and Nordic Capital.
Amato’s expertise aligns seamlessly with Cahill’s strategic focus areas, particularly as private credit has emerged as a critical alternative to traditional bank financing. This sector has surged to a $1.7 trillion industry in recent years, driven largely by the contraction of the leveraged finance market. Amato commented that Cahill’s dedication to expanding its private credit practice offers an ideal platform for his professional aspirations. “It’s a perfect fit with where my practice has been historically and where I see it going,” said Amato.
This key addition follows Cahill’s previous hire of Peter Williams, the former managing director at KKR & Co. Inc., who joined in July to co-lead the firm’s private credit practice. Williams was instrumental at KKR in overseeing credit strategies and developing private wealth credit products. Herb Washer, chair of Cahill’s executive committee, expressed optimism regarding the potential impact of these strategic hires, highlighting the firm’s continued evolution under his leadership, which began in January.
“With the hiring of Peter from KKR just a few weeks ago, and now Dan, I’m eager to see what this remarkable practice will do,” Washer stated. The integration of such high-caliber talent equips Cahill not only to excel in private credit transactions but also to maintain robust capabilities in syndicated lending, positioning the firm advantageously within the evolving credit market landscape.
Amato articulated a forward-looking perspective on the role of private credit in the capital market, emphasizing that its significance extends beyond mid-market deals to higher-value chains. “Private credit is going to be a permanent part of the capital market structure going forward,” he said, underscoring the importance of a dual approach in both private credit and syndicated lending work to meet market demands.
This latest strategic hire can be viewed in the context of a broader transformation within the finance sector, where private credit continues to grow as an indispensable segment. For further details on this development, refer to the original announcement on Bloomberg Law.