Errecondo González y Funes
Banking and finance strength
Errecondo González y Funes is one of Argentina’s top transactional firms. Its core strengths are banking and finance, capital markets, and corporate and M&A, and in all three the firm does an excellent job of competing against much larger rivals to land headline deals. An exceptional 2016 puts this compact firm at the forefront of capital markets activity in Argentina, thanks to its work on several of the largest deals to take place in the field, including the state’s much-anticipated return to the international markets. The firm’s know-how in this respect led the Argentine government to consult it on new capital markets regulations, making this firm a good prospective partner for new issuers. The firm’s strong transactional focus is complemented by the close links it has with non-transactional boutiques, including labour, tax and litigation firms, which it refers work to.
In terms of revenue and market share, Errecondo González reports 2016 as its best year ever. That year the firm took a big leap and opened an office in New York, where one of its managing partners, Javier Errecondo, is based three weeks a month. The move brings Errecondo González closer not only to its financial sector clients in New York, but also to the multilaterals it often works with that are based in Washington, DC. The office also acts as a retention tool for young lawyers, since associates will be stationed there on a rolling basis. Part of this firm’s appeal lies in its top-heavy partner-associate structure, which means its partners, who are all well-established players in this legal market, work on every single deal. Looking to the future, Errecondo González is hoping to expand its headcount by at least 25% in 2017.
The firm’s headquarters are in Buenos Aires. It opened an office in New York in 2016.
Many of Errecondo González’s core clients are from the global financial sector. They are: Goldman Sachs, JP Morgan, Credit Suisse, Santander and Citibank.
Banking & finance
Key partners: Carolina Curzi is very popular with her clients and comes recommended in LACCA Approved, in-house counsel research conducted by Latin Lawyer’s sister association, the Latin American Corporate Counsel Association. Other key partners are Facundo Goslino, Ximena Digón, Baruki González and Javier Errecondo.
Analysis: Errecondo González’s banking and finance group is highly recommended, with clients particularly happy with the team’s solution-driven approach. The group works with both borrowers and lenders and knows how to stay busy: even in the midst of Argentina’s economic crisis, partners managed to carve themselves a role on the few financing deals taking place. The team are comfortable negotiating lending agreements in challenging circumstances, such as in bankruptcy scenarios. Lawyers have used the increase in cross-border financing work taking place in Argentina today to increase their presence on more sophisticated transactions. The group’s sector focus is diverse: Errecondo González is visible in the hydrocarbons, telecoms, electricity and retail sectors.
Most recent deals
Key partners: Facundo Goslino, Carolina Curzi, Javier Errecondo and Baruki González.
Analysis: Errecondo González’s impressive capital markets practice packs a serious punch, pulling in a very commendable volume of debt deals every year. The firm’s role as counsel to the Argentine state for its record-breaking return to the international capital markets in 2016 set the tone for a busy year; the deal marked the first time the state had hired local external counsel for such work, having previously relied on state lawyers. As well as debt work, Errecondo González is a deft hand at equity offerings and has advised Argentine issuers on internationally listed IPOs. Much of the work done here is cross-border, with the firm evenly splitting its time between representing issuers and banks. The financial institutions the team does work with are typically major international lenders and they are a core component of this firm’s client base. The firm stands out for its work on the rare number of debt offerings in Argentina that go above the US$100 million mark.
Most recent deals
Corporate and M&A
Key partners: Baruki González and Javier Errecondo are both recommended in LACCA Approved.
Analysis: Errecondo González also has a strong corporate and M&A offer that has experience closing deals against tough regulatory backdrops. The firm has done major deals in the energy and telecoms sectors, as well as working in the private equity sphere.