Alfonso Bernar is an of counsel in the Madrid office of Gibson Dunn and a member of the firm’s Capital Markets, Mergers and Acquisitions, Private Equity, and Securities Regulation and Corporate Governance Practice Groups.
Alfonso is a corporate, capital markets, and M&A practitioner with a focus on large and complex transactions, particularly those with cross-border elements. He specializes in all types of ECM and DCM transactions and has extensive experience in public and private M&A. He also regularly advises listed and non-listed companies on a broad range of corporate law and corporate governance matters, as well as regulatory compliance related to securities markets. He has been involved in some of the most relevant IPOs, follow-on offerings, and public tender offers in the Spanish market in recent years.
Alfonso’s transactional experience covers a broad and diverse client base, including financial institutions, investment banks, private equity firms, industrial companies, large cap companies, REITs, and family-owned businesses across sectors such as energy, real estate, telecommunications, banking, consumer goods, agriculture, and technology.
Alfonso is ranked in TTR Data’s Rising Star Rankings 2025 as #1 for Equity Capital Markets in Spain and #6 for M&A in Spain by transaction value.
Prior to joining Gibson Dunn as of counsel, Alfonso was a managing associate in the Madrid office of another international law firm, where he developed his professional career. During this time he also practiced in the firm’s London office.
Alfonso is a regular lecturer at various postgraduate programs and the author of several publications.
Alfonso has a double degree in Law and in Economics and Business Administration from Universidad Autónoma de Madrid, including an academic year at Cambridge University.
Representative Experience*:
- Iberdrola, a large utility company, on its €5 billion capital increase via an accelerated bookbuilding offer
- GIP (Blackrock) on the €1.7 billion accelerated secondary placement of shares in Naturgy, a natural gas and utility firm, and the €2.79 billion sale of its remaining stake via a subsequent accelerated placement
- The managers on the €750 million IPO and listing on the Spanish stock exchanges of HBX Group, a leading B2B ecosystem in the TravelTech sector
- Banco Sabadell on the €3.1 billion sale of its UK branch TSB Group to Banco Santander
- The managers on the €130 million and €100 million issuances of subordinated necessarily convertible bonds of PRISA, a media company
- Banco Santander on the launch, in collaboration with Atitlan, of Atgro, a €500 million global investment platform focused on the development of agricultural projects, and Atgro’s first acquisition of 3,000 hectares of pistachio plantations
- Acciona Energía, the renewable energy operator subsidiary of Acciona, on its €1.5 billion IPO and listing on the Spanish stock exchanges
- Hotel Investment Partners, a leading hospitality company, on its IPO-M&A dual-track process (where a €630 million private sale to Blackstone was completed)
*Some of these representations occurred prior to Alfonso’s association with Gibson Dunn.
Capabilities
Credentials
Education:
- Autonomous University of Madrid - 2014 Bachelor of Business and Law
Admissions:
- Spain - Colegio de Abogados (Madrid)