Clifford Chance (CC) is set to strengthen its London high-yield offering with the relocation of a partner from New York.

Tony Lopez will become the fifth partner with capacity to advise on high yield deals in the firm's Canary Wharf team, which also has 14 associates.

He has been a partner in CC's US practice since 2006, when he joined from Cahill Gordon & Reindel. CC's New York office will have five high yield partners after the relocation.

Lopez's practice covers capital markets, high-yield debt and convertible securities placements, public and private equity offerings, acquisition finance transactions, credit facilities, and out-of-court restructurings and recapitalisations.

CC said the relocation came as part of an effort by the firm to boost the high-yield capabilities of its leverage finance practice, with the firm hoping to add both partners and associates.

The London practice most recently saw the rehire of high-yield specialist US securities partner Michael Dakin, who had joined a Dubai-based client in 2009 amid a dip in activity in the European high-yield market in the debt crisis.

Commenting on the relocation, Dakin said: "We are investing in our European high-yield team because the market here is evolving and becoming increasingly important to both our firm and our clients. The European market is maturing and becoming increasingly interesting and complex."

The European high-yield market has seen a significant uptick since the last financial crisis. However the magic circle have traditionally struggled to make significant inroads into the market, which is dominated by US firms such as Latham & Watkins, Simpson Thacher & Bartlett and Cahill Gordon.

Recent European high yield transactions by CC included advising Swedish buy-out house EQT on the financing of its SEK12bn (£1.1bn) purchase of local refrigeration products manufacturer Dometic in May. The firm has also advised ONO, Spain's second-largest broadband, television and phone line provider, on a number of high-yield debt issuances since the end of last year.