Who Could Fill Their Shoes? How Kirkland Messed Up The UK’s Funds Market
The commercial legal industry is well known for having M&A stars—partners who pull in the biggest deals and act as a figurehead to their corporate departments. But this phenomenon is significantly amplified in the world of private equity funds.
Unlike in other practice areas, a firm’s top partner advising on private equity fund formation tends to enjoy a status that is elevated well beyond others in the same team.
“The profile of the head of group is so dominant compared to the number two”, explained one London funds partner, “the vulnerability of funds, unlike other practices, is that most funds practices tend to have one person that is the name of the team. Those lawyers that came to this in the late 90’s compared to anyone else at their firms, stand out.”
Just some of these...