Paul Hastings set to ramp up City transactional practice after key DLA, Linklaters hires
The US firm's London head Ronan O'Sullivan wants to copy the firm's approach to City finance growth in private equity practice
May 25, 2018 at 06:34 AM
4 minute read
Paul Hastings may not have always been as visible as some of its US peers when it comes to City recruitment, but that stance looks set to change in the wake of the firm's high-profile recruitment of Linklaters corporate heavyweight Roger Barron and DLA private equity partner Anu Balasubramanian within the last week.
London managing partner Ronan O'Sullivan says the firm is now on a mission to build up its City corporate transactional practices, with the latest partner additions "a catalyst" for further corporate and private equity growth.
He concedes that the transactional business has been "a little underweight" in the City to date but believes "now is the right time" to build, with a series of lateral partner hires planned during the course of the year.
The firm currently has about 27 partners in London, 15 of who will have a transactional remit once Barron and Balasubramanian arrive. O'Sullivan expects to add further partners, predicting that total London lawyer count is likely to rise from 85 at present to more than 100 during the course of this year.
Corporate veteran Barron spent 27 years at Linklaters, including 17 as a partner, and is set to help lead Paul Hastings' efforts to build its M&A practice.
During his time at the magic circle firm he worked on a host of big mandates, with a particular focus on sectors including energy, utilities and telecoms, acting as relationship partner for National Grid.
Balasubramanian, meanwhile, joined DLA Piper as a partner in 2013 from Kirkland & Ellis. She specialises in private equity transactions, cross-border acquisitions and divestitures, management equity plans and joint venture arrangements. Her key clients include Abry Partners and Oaktree Capital, with O'Sullivan keen to leverage these – and other – relationships.
He says: "Anu is extremely driven and has great connections with her clients. With her focus and drive she will help us accomplish what we want to achieve in private equity in London and Europe."
He adds that the firm had wanted to build out its PE offering to bring it in line with the expansion it has achieved in its City finance team during the past three years. This practice has gone from 12 to 45 lawyers since the end of 2014.
Significant City finance hires include restructuring and debt finance heavyweight David Ereira from Linklaters in 2015, and legacy Berwin Leighton Paisner's head of structured debt and capital markets Paul Severs in the same year.
The firm also picked up a trio of Ashurst City finance partners in 2016, though the most high profile of what had been a four-partner group – Nigel Ward – never joined, changing his mind after his hire had been announced and instead of opting to stay at Ashurst.
O'Sullivan adds: "If you look at our investments in structured finance, collaterised loan obligations and credit funds work in the City in recent years, we've built a formidable finance bench.
"When we invested in finance we did it fully and properly and we expect to build our corporate presence in the same way over time."
O'Sullivan says the aim is to create a City private equity offering that can enhance Paul Hastings' relationships with key US clients such as Starwood, HIG Capital, Oaktree and Vector Capital and offer them more service across the UK and Europe.
The firm clearly has its chequebook out but with a host of its US rivals among those boosting their City buyout teams in recent months, it will not be the only firm on the lookout for fresh talent.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllBig Law Leaders, Dealmakers Optimistic about M&A Deal Flow Under Trump, With Caveats
5 minute readThe Law Firms Generating 8-Figure Fees on the Year's Big Ticket UK Deals
3 minute read'Significant' Competition Concerns Over £762M GXO Logistics-Wincanton Merger
Trending Stories
- 1Gibson Dunn Sued By Crypto Client After Lateral Hire Causes Conflict of Interest
- 2Trump's Solicitor General Expected to 'Flip' Prelogar's Positions at Supreme Court
- 3Pharmacy Lawyers See Promise in NY Regulator's Curbs on PBM Industry
- 4Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 5Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250