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Kirkland’s David Nemecek Joining Simpson Thacher as Head of Capital Structure Solutions
David Nemecek, whose name is synonymous with advising distressed companies on using liability management exercises to avoid restructuring and bankruptcy, is leaving Kirkland & Ellis to join Simpson Thacher, according to sources.
The star debt finance lawyer, whose advice private equity sponsors, boards of directors and management teams seek to preserve optionality and extend runways, has given notice to Kirkland, and his last day at the firm is today, the sources said. Nemecek starts at Simpson Thacher tomorrow, Thursday, Feb. 19, they added.
Nemecek’s relationships and representation of debtors in LME maneuvers dovetails with Simpson Thacher’s top-tier corporate and restructuring practices, as the law firm as a whole is expected to realize synergies, the sources said. His work at his new firm will integrate LME, special situations and restructuring, aligning fully with clients’ needs, they added.
Nemecek, who is based in Dallas and New York, emerged in the current LME era, which started in 2020, as the top architect structuring out-of-court capital solutions and recapitalizations for private equity-backed and publicly listed stressed and distressed companies in a diverse group of industries, including retail, restaurant, energy, healthcare, media, software and specialty finance.
Nemecek has led the design of some of the most complex and novel LMEs in recent years, including exercises for Warner Bros. Discovery, Saks, Quest, Claritev (formally MultiPlan), Better Health, Apex Tool Group, GoTo Group, Magenta, Radiology Partners, U.S. Renal Care, Wheel Pros, At Home, Carvana, Anywhere, Boardriders, Envision Healthcare, Travelport, TriMark, PetSmart, Macy’s, Cineworld, Neiman Marcus, Cirque du Soleil, Guitar Center, FinThrive and Springs Window Fashions, according to his firm bio page.
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