Even as demand for laterals has fallen in recent months, several big firms have continued hiring in certain finance practices as clients seek more credit arrangements and transactions during the recession.

Steven Ellis, Proskauer Rose’s chairman who also co-heads its private credit group, said that much like the time period following the Great Recession, he expects clients to seek solutions from alternative capital and for there to be an increased appetite for special funding situations, rescue funding and distressed investing.

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