Dealmaker: Neel Sachdev
Neel Sachdev is a finance partner in Kirkland & Ellis' London office, a connoisseur of fine suits and a wannabe international playboy
November 07, 2007 at 09:19 PM
5 minute read
Neel Sachdev is a finance partner in Kirkland & Ellis' London office, a connoisseur of fine suits and a wannabe international playboy
Why did you become a lawyer?
Because my cricket career wasn't taking off and my parents were keen that I did something more respectable than the jobs I had in mind (apparently the job centres don't advertise vacancies for 'international playboys').
Who has been the biggest influence on your career?
My parents instilled in me the importance of having a good work ethic and always striving to achieve the best – two qualities which clients are always keen to see. Over the past few years, the commercial approach of my partners, Jim Learner, Stephen Gillespie and Erik Dahl, has been a big influence on how I approach deals – also their support and trust that no matter how much rope they give me, I won't hang myself has been invaluable.
What's your proudest professional moment?
Becoming one of the youngest ever partners at Kirkland and (by default) the City.
… and worst day on the job?
As a trainee at SJ Berwin playing in a client/lawyer cricket match and running out my batting partner, the formidable and cricket-mad Ian Insley, before he had even faced a ball.
Aside from your own firm, which lawyer do you most admire and why?
Acting on deals which are at the cutting edge of market terms in acquisition finance, I tend not to admire other lawyers as they generally only create obstacles.
What's your strongest characteristic… and worst trait?
I think my obsessive nature and indefatigability are both my best and worst characteristics. When I get a new deal, I don't rest until we have achieved the best results for the client, but when I see a new suit I want, my daughter's university fund depletes exponentially.
How do you think assistants in your team view you?
From as far away as they can run when they see me coming. I would say they see me as a demanding boss but hopefully one who makes the work a little more entertaining than it might otherwise be.
What advice would you give to young deal lawyers starting out?
Be prepared to work hard. Even if you are working on a small element of the deal, try to see the bigger picture so you can learn from the experience – and always dress well.
What most annoys you about the legal profession?
The politics that are sometimes associated with being a lawyer in a large firm.
What's your strongest card – technical wizardry or smooth client skills (you can only pick one)?
Prior to the 'credit crap', I would have said smooth client skills, but given the tough conditions we have been operating in recently we have had to come up with some highly technical and inventive ways around issues where technical wizardry has been essential.
What will be the most significant market trend in terms of your practice area over the next 12 months?
An increase in activity in the mid-market, as larger deals are becoming harder to syndicate, and the banks' appetite for taking on bigger risks and large amounts of debt will diminish. Industry buyers will become more prevalent and more of a threat to a private equity bidder. We have already seen a return to full financial covenants and amortising debt in deals that had more or less gone away, and so lawyers acting for borrowers will have to be ever-more creative to ensure we achieve terms that companies can work with. In parallel, as the 'credit crap' begins to bite in the banks and people are fired and bonuses reduced, I imagine (hope) there will be a decline in prices for loft apartments in Shoreditch and a reduction in the price of expensive champagne.
Is it true that LBO lawyers are the party animals of City law?
Not all of them, but in a straight competition I am sure we could see off many a tax department.
Who are the firm's stars of tomorrow?
The ones who listen to my sage advice.
What would you do if you weren't a lawyer?
I would be the only cricket journalist who worked 24 hours a day, seven days a week.
Where do you see yourself in 10 years' time?
Still trying to come up with a 10-year plan.
What's your favourite item of clothing?
Any one of my collection of Kilgour suits.
What would you put on your tombstone?
A champagne bar.
What's your favourite cheese?
Britney Spears.
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