Richard J. Reilly, Jr.Partner
US Co-Chair, Financial Services sector
Subgroup Leader, Structured Finance
Rich Reilly has a broad securities practice with an emphasis on CLOs and other structured finance transactions, securitizations and investment fund formations in the United States and Europe.
Rich has over twenty years of experience acting as counsel to arrangers, collateral managers and investors on US and European CLOs and other securitizations. His experience includes structuring CLOs and securitizations to comply with a variety of regulatory requirements including those imposed by the Dodd-Frank Act and the EU Securitisation Regulation.
In addition, he regularly represents investment advisors on the formation of private investment funds for the purpose of raising capital for investment in structured credit products including, among others, captive and non-captive CLO equity funds.
Rich has substantial CLO manager M&A experience having represented buyers and sellers in several transactions in the US and Europe.
In addition to his experience in the US CLO and securitization markets, Rich spent several years in London where he led the most active legal practice in the European CLO market from 2003 - 2011.
In the asset securitization area, Rich has represented issuers, arrangers, credit enhancement providers and servicers in a broad range of asset classes including solar, market-based lending, CMBS, RMBS, credit cards, trade receivables and asset-backed commercial paper.
- J.D., Georgetown University Law Center
- B.S., Georgetown University
- Chambers Global
- Band 4, USA Capital Markets: Securitisation: CLOs (2021 - 2023)
- Spotlight Table, USA Capital Markets: Securitisation: CLOs (2021)
- Chambers USA
- Band 4, USA Capital Markets: Securitisation: CLOs (2021 - 2022)
- Spotlight Table, Capital Markets: Securitisation: CLOs (2020)
- The Legal 500 United States
- Recommended, Structured Finance: Securitization (2018 - 2022)
- Recommended, Private Equity Funds (including Venture Capital) (2018 - 2019)
- Recommended, Private Equity Funds (2015 - 2017)
- Recommended, Structured Finance (2015 - 2017)
- Listed in the "Hot 100" by The Lawyer Magazine (2004)
- Author, "Recent Trends in Raising Captive Equity for Broadly Syndicated CLOs," The Journal of Structured Finance, November 2019
- Co-author, "Emergence of a New Approach to Financing Commercial Real Estate Loans," New York Law Journal, January 20, 2016
- Author, "The CLO Market in the US and Europe: Rebirth and Stagnation," Practical International Corporate Finance Strategies, May 31, 2012
- Panelist, "Dispatches from the CLO trenches," Creditflux CLO Symposium 2023, May 2023
- Speaker, "Dispatches from the CLO trenches," CreditFlux CLO Investor Summit, New York (November 5, 2019). Rich discussed issues and opportunities CLOs face with distressed investments.
- Panelist, "The Current State and Outlook for the CLO Market," OPAL CLO Summit (November 28, 2018)
- Speaker, "Dispatches from the CLO trenches," CreditFlux CLO Investor Summit, New York (November 6, 2018). Rich discussed latest trends in CLO documentation.
- Speaker, "Dispatches from the CLO trenches," CreditFlux CLO Investor Summit, London (May 9, 2018). Rich discussed what the LSTA win means for dual-compliant (U.S. and Europe) CLOs.
- Panelist, "The Current State and Outlook for the CLO Market," CLO Summit, Dana Point, CA (December 3, 2017)
- Panelist, "CLO Market Fundamentals,'' ABS East Conference, Miami (September 16, 2015)
- Panelist, "CLOs Under Threat," Creditflux's Credit Opportunities Symposium 2014, London (May 7, 2014)
- "Milbank's Solis and DLA Piper's Reilly: CLO 'contributions' can benefit everyone, but debt investors may seek limitations," Creditflux, 2018
- "CLO Market Splits on Controversial Volcker Loophole," Creditflux, 2014
- "CLO 2.0 Market Booming as Documentation Evolves," Structured Credit Investor, August 24, 2012
Before joining DLA Piper, Richard was global co-head of a global law firm's securitization practice and the founding member of its London structured finance practice.
Memberships And Affiliations
- American Bar Association
- Business Law Section
- Securitization and Structured Finance Sub-Committee
- New York City Bar Association
- Structured Finance Association
- Structured Finance Industry Group
- CLO Sub-Committee
My latest insights
DLA Piper advises Sound Point Capital Management in acquisition of Assured Investment...
10 April 2023 .2 minute read
DLA Piper's global CLO team sponsors the new edition of Creditflux's Guide to CLOs
3 November 2021 .1 minute read