In a year defined by economic uncertainty, choppy capital markets and a cautious dealmaking climate, Matt Kiel stood out for a significantly different reason: momentum.
This fall, the Business Journal named Kiel, senior counsel at Foley & Lardner, its Emerging Leader of the Year at the publication’s inaugural M&A Awards – an honor recognizing him for deal volume, strategic acumen and impact that has set him apart from a crowded field of corporate advisers.
At the mere mention of Kiel’s nomination during the inaugural ceremony held in September, the room lit up. And upon announcing the big winner, the audience gave him a standing ovation.
“It was a great event,” said Kiel. “It was a great community to be recognized in, and a lot of good awards were given out that night.”
For Kiel, a lifelong Angeleno who grew up in South Pasadena, the recognition reflected something far less instantaneous than an awards-night spotlight. “It’s a slow, long-term growth story that has played out for me,” said Kiel. “It’s “having a steady concerted effort to grow and become a stronger version of yourself … You keep pressing forward and doing your best. It compounds over time.”
That steady, disciplined progression has defined Kiel’s path since his early days at the University of Oregon law school – and it certainly mirrors the dealmaking environment he now helps clients navigate – a landscape shaped by a rocky start, recalibration and renewed energy.
“We’re optimistic and excited,” Kiel said. “The second half of 2025 did see a rebound.”
Kiel, who joined Foley as a lateral in 2019 and now helps anchor the firm’s Los Angeles M&A practice, describes 2025 as a year split into two halves. “Without a doubt, there was a pause in the spring,” he said, citing regulatory unpredictability, fluctuations in tariffs and overall volatile capital markets. “Some deals went on pause; some deals got sidetracked. But we’re seeing a thawing of that freeze.”
Heading into the fourth quarter, Kiel describes a marked shift: increased deal activity, greater client optimism and pressure building on private equity firms to execute exits and unlock liquidity – all factors that are pushing momentum into early 2026.
“People still want to do deals,” he said.
Kiel’s practice spans far beyond California. In the past year alone, he led several transactions that highlighted his range and depth.
Among the standouts is him as lead counsel, pitching and securing a mandate from a U.K.-based, private equity-backed events and media company for its U.S. expansion. That led to the formation of a U.S. holding company and multi-year acquisition pipeline.
As a lead, he guided a solar and battery-storage development platform through a complex preferred-equity financing deal – one involving tax-credit structuring, milestone payouts and layers of interplay between all stakeholders. Lastly, he represented a Hong Kong-based manufacturer in a cross-border joint venture with a U.S. distributor, which involved intricate tax structuring and asset transfer considerations, including foreign intellectual property contributions.
For Kiel, the appeal of M&A lies in its constructive nature. Before shifting entirely into transactional work, he spent about four years working for a private litigation practice – handling aerospace, employment and some tort matters. In litigation, he often handled conflicts. The construct stuck with him.
“There’s something special about helping to engineer solutions on an M&A transaction that I didn’t experience in litigation,” he said. “You’re really trying to find solutions for your client and help create new value.”
Kiel gravitated toward the legal side of the M&A business during his first year of law school after taking a contracts class. The professor explained the basic concept of a contract serving as the “governing law between two parties” and that this framework allows attorneys handling the matter to offer a business perspective, thereby acting as business partners.
“That really resonated with me,” Kiel said. “I knew that’s where I wanted to go.”
During his nearly seven-year tenure, the collaborative ecosystem at Foley has fostered his growth as a leader within this space. He touts that Foley is a place where attorneys are treated as business partners in training, not just technicians. It’s a culture that’s collaborative and focused on giving attorneys the support they need to develop, he said.
“The community of Foley is one of camaraderie,” said Kiel, who is on the partnership track and serves on the firm’s national recruiting committee.
Beyond his transactional work for clients, Kiel stays active in the region’s civic and nonprofit institutions.
He serves as the Los Angeles liaison to the nonprofit law organization Public Counsel’s leadership council, supports the Boy & Girls Clubs of Metro Los Angeles through Foley’s community initiatives and recently joined the board of trustees at Western University of Health Sciences.
Also outside the office, the former high school cross-country runner still heads out for a recreational jog today – “Slow and steady,” he joked.
He’s a devoted jazz enthusiast, particularly the improvisational trios and quartets of the 1950s and ‘60s. “There’s tension and release in jazz,” he said.There are unexpected turns, “improvisation (and) conversation (between instruments). It’s such a beautiful thing.”
The parallels to dealmaking–complexity, collaboration, and the satisfaction of a well-resolved progression–aren’t lost on him. As the next year arrives, Kiel sees more opportunities than obstacles.
“There’s more growth (to come),” he said. “We’re seeing enthusiasm carrying through … we’re optimistic and excited (about what’s ahead).”
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