Latham raids Clifford Chance for German buyout practice
Latham follows London private equity expansion with German partner hires from CC. Felsenstein and Hesse to rejoin former colleagues at US firm.
February 02, 2015 at 10:52 AM
2 minute read
Latham & Watkins has poached two leading private equity partners from Clifford Chance (CC) in Germany.
Oliver Felsenstein, global co-head of private equity, and Burc Hesse will join Latham in Frankfurt as partners in the corporate department. The new arrivals take the firm to 12 private equity partners in Germany.
The pair have both spent nine years working with CC's corporate and mergers and acquisitions (M&A) practice with Hesse based in Munich and Felsenstein in Frankfurt. They are the latest in a number of partners leaving CC for Latham in recent years, as the US firm has aggressively built up its European presence.
Latham hired CC's Africa co-head Kem Ihenacho in London last year and in 2013 the firm recruited CC's then global private equity head David Walker and private equity partner Tom Evans.
Daniel Lennon, global chair of Latham's corporate department, said the two hires were "another exciting development in the growth of our private equity practice in Europe".
He added: "Their arrival – coupled with our recent additions in London and our deep bench spanning the major global financial markets – positions Latham as one of the clear global leaders in private equity."
Latham has been expanding significantly in Europe, with a focus on London and Germany.
News of the exits comes after CC confirmed there would be a number of departures from its German practice as part of its largest regional review in years but is not believed to be related.
The firm declined to comment on how many partners had already left following the review of the practice led by head of the German arm Peter Dieners.
The magic circle firm has also kicked off a review of its firm-wide partner remuneration scheme.
CC's global private equity practice will now be headed solely by London partner Jonny Myers.
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