Financial Services and Insurance

Cravath represented the underwriters in connection with the $750 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc., the world’s largest commercial real estate services and investment firm. The transaction closed on May 4, 2026.  

Cravath represented the underwriters in connection with the $1.5 billion registered fixed‑to‑floating rate senior notes offering of State Street Corporation, a provider of a broad range of financial products and services to institutional investors worldwide. The transaction closed on April 24, 2026.

Cravath represented the European Investment Bank (“EIB”) in connection with its $4 billion SEC‑registered notes offering. The purpose of the EIB is to contribute to the balanced and steady development of the internal market among Member States of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on April 21, 2026.

On April 27, 2026, Thermo Fisher Scientific Inc. (“Thermo Fisher”), the world leader in serving science, announced that it has signed a definitive agreement to sell its microbiology business, which provides antimicrobial susceptibility testing and culture media solutions for clinical, pharmaceutical and food safety testing, to Astorg, a leading pan‑European private equity firm, for consideration of approximately $1.075 billion, consisting of cash and a $50 million seller note. Cravath is representing Thermo Fisher in connection with the transaction.

Cravath represented the underwriters in connection with the $500 million registered senior notes offering of TPG Operating Group II, L.P. TPG Operating Group II, L.P. is a subsidiary of TPG Inc., a leading global alternative asset manager. The transaction closed on February 26, 2026.

On May 22, 2026, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides insight into practical points, key takeaways and relevant developments related to the bond, equity and loan markets and restructuring activity during the first quarter of 2026. Highlights from this edition include:

On May 22, 2026, Cravath published the latest edition of its Quarterly Review, which provides insight into practical points, key takeaways and relevant developments across the M&A, activism, restructuring, regulatory and corporate governance landscape. This edition covers:

On May 12, 2026, Cravath published a memo for its clients entitled “Converting to a National Bank Charter.” The memo examines a recent increase in the number of state‑chartered banks seeking to become national banks and discusses the charter application process as well as certain associated benefits and other considerations.

On May 5, 2026, Cravath partner Elad Roisman was named to Washingtonian’s list of “Washington DC’s 500 Most Influential People of 2026,” which recognizes the “power players who work to understand and shape rapidly shifting priorities across the capital.” Elad was highlighted for his reputation and work in the Banking & Finance category.  Elad, who is a member of Cravath’s Corporate Governance and Board Advisory Practice and Financial Institutions Group, as well as head of the Digital Assets Practice, also shared the best career advice he ever received: “Go into every meeting expecting to learn something new and be impressed.”

Cravath partners Jin‑Kyu Baek, Nicholas A. Dorsey and Lauren Roberta Kennedy were featured in the 2026 edition of “Practice Perspectives: Vault’s Guide to Legal Practice Areas,” which highlights the experiences of practicing lawyers in more than 20 different areas of the law and is published annually.