Allen & Overy (A&O) partner Derek Baird has won his first instruction for investment house Advent International since his arrival from Lovells earlier this year.

Baird is leading the A&O team advising Advent on the £137m sale of financial public relations company Financial Dynamics to US consulting group FTI Consulting.

Advent has a close relationship with Baird's fellow ex-Lovells partner Marco Compagnoni, who joined Weil Gotshal & Manges earlier this year. However, Baird landed the role after having advised Advent on its purchase of Financial Dynamics in 2003.

Baird told Legal Week: "It is always nice to act both on the investment going in and on the exit. I joined A&O with a view to bringing a focus on private equity and I have already closed a deal for Charterhouse, so I am very happy to have won two public deals for recognised private equity houses."

Magic circle rival Clifford Chance is advising FTI on the deal, with London-based corporate partner Mark Carroll leading the team.

Mayer Brown Rowe & Maw is acting for Financial Dynamics' senior management, with corporate partner Richard Page leading the team.

The transaction, which was announced on Monday (11 September) and should close in early October, represents a significant return for Advent on its initial investment, having purchased the group for just £26m.

First reported on legalweek.com (14 September).