More mergers, more high-profile lateral moves and more work! Here’s a roundup of the key legal developments making an impact this month.
London
Slaughter and May Enters Private Equity Areana
Slaughter and May is advising Fortress Investment Group on its £338 million acquisition of UK-listed hospitality group Loungers plc. This move, led by partners Harry Bacon, Richard Smith, and Filippo de Falco, indicates a potential shift towards private equity for the firm. Traditionally focused on high-profile blue-chip clients, such as the £2.5 billion Barratt-Redrow merger and Nationwide’s £2.9 billion takeover of Virgin Money, Slaughter and May is expanding its private equity practice, promoting Aleezeh Liaqat to partner this year. Senior partner Roland Turnill noted that private equity is "an obvious area of focus now."
Simpson Thacher Strengthens Finance Team
Simpson Thacher & Bartlett has enhanced its London practice by hiring Dan Peach, a leveraged finance partner from Linklaters. Peach specializes in advising private equity funds, asset managers, and portfolio companies on complex leveraged and acquisition finance transactions.
Kirkland & Ellis Adds Fund Finance Partner
Kirkland & Ellis has recruited Andrew Husdan, a senior fund finance partner from Clifford Chance, to its London office. Husdan’s expertise in advising lenders, sponsors, and funds on complex financing arrangements bolsters Kirkland’s fund finance capabilities in the City.
New York
Latham & Watkins Expands Restructuring Practice
Latham & Watkins has strengthened its New York restructuring team by hiring four prominent bankruptcy partners: Ray Schrock, Candace Arthur, and Alexander Welch from Weil Gotshal & Manges, and Andrew Parlen from Paul Weiss. Schrock will serve as global chair of restructuring, while Parlen will lead U.S. restructuring, bringing expertise in Chapter 11 reorganizations and distressed acquisitions.
Major U.S. Law Firms Match Milbank Bonus Scale
Following Milbank’s announcement of year-end bonuses, firms including Cravath, Paul Hastings, and McDermott have matched the scale, with bonuses ranging from $15,000 to $115,000 based on seniority, plus special bonuses between $6,000 and $25,000. This trend reflects a strong financial year for these firms.
Singapore
Hogan Lovells Expands with New Partner Hire
Hogan Lovells has bolstered its Singapore office by hiring Rob Palmer, former managing partner of Ashurst's Singapore office, to enhance its international arbitration practice. Palmer brings extensive experience in energy, construction, and infrastructure disputes across the Asia-Pacific region.
Australia
DWF Strengthens Australian Insurance Offering
DWF has expanded its Australian operations by recruiting a nine-partner insurance litigation team from Hall & Wilcox. Led by Matt Curll and Rachael Arnold, the team is considered one of the leading insurance litigation practices in Australia, complementing DWF’s existing client base of global insurers and London market-based insurance syndicates.
Global
Herbert Smith Freehills and Kramer Levin Announce Merger
Herbert Smith Freehills and U.S.-based Kramer Levin Naftalis & Frankel have announced a merger to form Herbert Smith Freehills Kramer, creating a global M&A powerhouse with over 2,700 lawyers and combined revenues exceeding $2 billion. The merger aims to enhance the firms' global offerings, with a single global profit pool from day one.
For more details, please refer to the linked sources.
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