David Nemecek Simpson Thacher & Bartlett LLP is planning to plant a second flag in the Lone Star State with a shop in Dallas after launching a capital structure solutions practice with a New York-based partner who came aboard from Kirkland & Ellis LLP at the helm.

The firm said Thursday in a statement that its future launch in Dallas and the hiring of partner David Nemecek to lead the new practice group are a part of the expansion of its capital solutions offerings, noting the region's growing clientele, capital, and talent base.

With a planned physical presence in Dallas, its second in the state after Houston, Simpson Thacher is set to join a number of firms eyeing the potential for legal work stemming from the rise of "Y'all Street" as new stock exchanges launch amid a steady march of corporate relocations. Texas' business-friendly regulatory environment and sophisticated business court, which launched a little over a year ago, have been cited by law firm leaders as drivers of legal work in the North Texas region.

Crowell & Moring LLP entered the Texas market with a Dallas location in August as it brought on a large healthcare group from Reed Smith LLP. Houston trial boutique Ahmad Zavitsanos & Mensing PLLC announced this past fall that it would launch in Dallas on the first of the year, breaking with a three-decade one-office tradition. Offit Kurman Attorneys At Law snagged its first Texas office last year through a combination with a four-attorney Dallas bankruptcy boutique.

Simpson Thacher could not immediately be reached Friday for additional comment.

Nemecek advises distressed companies, private equity funds, and opportunistic credit investors, the firm said Thursday in a statement announcing his arrival as head of the newly formed capital structure solutions practice. The practice area integrates Simpson Thacher's liability management and special situations and restructuring offerings into a single global team, the firm said.

Nemecek said in a statement, "Simpson Thacher has one of the world's premier global legal advisory platforms grounded in excellence, unparalleled client service and deep, long-term relationships.

"Helping launch its capital structure solutions practice, alongside partners who are both exceptional lawyers and true collaborators, is a rare opportunity, and I am honored to join the team as we focus on providing the best advice to our clients."

The practice will provide companies, sponsors, and lenders with conflict-free guidance aligned with client goals across the array of modern capital challenges, the firm said. The group's work will include advising on financing strategy, liability management, distressed mergers and acquisitions, and Chapter 11 restructurings, the firm said.

Alden Millard, chair of Simpson Thacher's executive committee, said in a statement, "Dave is widely regarded as the preeminent architect of modern liability management and is one of the most influential advisers to distressed companies of his generation.