Ropes & Gray LLP

Ropes & Gray represented the PIPE placement agents in connection with the business combination between photonic quantum computing company Xanadu and Crane Harbor Acquisition Corp. The transaction makes Xanadu the first and only pure play photonic quantum computing company to be publicly traded.   The team was proud to work on this important transaction for quantum computing, which has applications in AI, cybersecurity, energy, healthcare, and other sectors. This work highlights Ropes & Gray’s strong capital markets practice and knowledge on SPACs and deSPACs. Congratulations to the team.   The deal team was led by capital markets partner Christopher J. Capuzzi. Learn more: https://lnkd.in/eEcZA5vE

Ropes & Gray represented Audax Group and Greenbriar Equity Group on the sale of Alliance Ground International, a leading North American airport services provider, to Lone Star Funds.   The transaction highlights Ropes & Gray’s continued strength advising private equity sponsors on exits. Congratulations to the team.   The deal team included private equity partner Ken Chow, tax partner Pamela Glazier, litigation & enforcement partners John Bueker, C. Thomas Brown and Brendan Hanifin, IP transactions partner Emily Karlberg (Lieberman), executive compensation & employee benefits partners Jennifer Rikoski Whitney and Megan Bisk, and private equity associates Christopher Hewitt, Elizabeth Johnson, and Thomas H. Read the press release here: https://lnkd.in/eurgKVNc

Ropes & Gray is celebrating the 25th anniversary of our New York office throughout 2026. Laurel FitzPatrick, partner and leader of the firm’s hedge and credit funds teams, says the office has built an “amazing group of partners and associates” who “work on clients' most innovative, challenging, and complex products,” “take the lead on AI,” and “deliver exceptional results.” 

Ropes & Gray advised Tillman Infrastructure, LLC on the private placement of $850 million of investment grade senior secured notes, alongside a letter of credit facility provided by JPMorganChase. Proceeds will be used in part to refinance existing indebtedness.   This transaction builds on the firm’s growing digital infrastructure financing practice and its experience advising on complex asset-backed securities and structured financing transactions across the sector.   Congratulations to our cross-border team, led by finance partners Michael Kazakevich and Christopher Poggi and finance counsel Alexandru Mocanu, with support from associates Alma Yasin, Akosua Duodu, Wendy Li, and law clerks Lois Elshof, and Stefania Gauthier. Learn more: https://lnkd.in/ewPuV62C

On March 17, 2026, the SEC and the CFTC jointly released interpretive guidance clarifying when transactions in crypto assets are subject to regulation under federal securities laws. The release sets forth the agencies' views on many topics relevant to market participants operating in the digital asset space.   Read our alert for key takeaways on what this landmark guidance means for crypto asset market participants: https://lnkd.in/ecpU_Pgv

At the recent Women’s Private Equity Summit, Ropes & Gray partner Elizabeth Gallucci moderated a panel exploring how consumer investing is adapting to ongoing volatility. Panelists from Blackstone, Advent and Yellow Wood Partners, LLC discussed evolving underwriting standards, the impact of digital disruption on diligence, and strategies for positioning businesses for successful exits in today’s market. Learn more: https://lnkd.in/ebXhJVBp

Ropes & Gray advised Advent on its definitive agreement to acquire a majority stake in SALT & STONE, the Los Angeles–based body care brand. The investment will support the company’s continued expansion, strengthening its global presence and deepening engagement with consumers.   Congratulations to our team on this transaction, reflecting the firm’s experience advising private equity sponsors on growth-oriented investments.   The team included private equity partners Christian Westra and Annie Sipe and associate Garrett Miller, finance partners Andrea Hwang and Byung Choi, employment, executive compensation & employee benefits partner Jennifer Rikoski Whitney, employment partners Megan Bisk and Richard Kidd, IP transactions partner Erica Han, tax partner Adam Greenwood, and litigation & enforcement partners Katy Caldwell and Jonathan Klarfeld. Learn more: https://lnkd.in/gVWCDiM5

Ropes & Gray is honored to be named a finalist in three categories for Asian Legal Business’ China Law Awards 2026. The firm has been recognized in the categories of Intellectual Property Law Firm of the Year – International, Regulatory Compliance Law Firm of the Year – International, and Equity Market Deal of the Year (Midsize) for the Pony AI Dual Primary Listing on Hong Kong Stock Exchange. Winners will be announced at the gala dinner on April 16. Learn more: https://lnkd.in/eQPDsHct

Litigation & enforcement partner Maria Gonzalez Calvet has been named to Lawdragon’s 2026 list of South America’s 100 Lawyers You Need to Know. This recognition reflects María’s leadership and experience navigating multijurisdictional investigative and compliance matters throughout the region. Learn more here: https://lnkd.in/etwbjhPt

Ropes & Gray advised QHP Capital on a $1.1 billion single-asset continuation vehicle for Azurity Pharmaceuticals, providing liquidity to the existing limited partners while supporting the company’s next phase of growth. Led by HarbourVest Partners, with participation from Pantheon Ventures and Audax Strategic Capital, the transaction positions Azurity to continue executing on its long-term strategy, including organic growth, licensing, and potential strategic M&A. Congratulations to our team on this transaction, underscoring the firm’s strength in advising on complex continuation vehicles and secondary transactions. The Ropes & Gray team was led by asset management partners Alyssa Horton, Jonathan Rash and Peter Laybourn and included counsel Marc Migliazzo and Young Yoon, tax, employment & benefits partner Jim Brown, private equity partners Martin Ruhaak and Deidre Johnson, finance partner Patricia Teixeira Wyrwoll, litigation & enforcement partner Lisa 文琳 Kaltenbrunner, and executive compensation & employee benefits partner Jennifer Rikoski Whitney. Learn more: https://lnkd.in/ep7HXnVV