Law firms are throwing cash at fund finance lawyers because the market's about to explode from 1.2 trillion to over 2.5 trillion by the end of the decade. Gibson Dunn grabbed Duncan McKay from Fried Frank to run their fund finance group in New York, and Paul Hastings snagged Jennifer Passagne from Haynes Boone for their London operation. Both specialists work on NAV facilities and GP support lines, which are the bread-and-butter products keeping private equity funds liquid.
US firms have been flooding London with partner-level hires since last summer, and recruiters say the compensation packages are getting wild. Mayer Brown picked up a three-partner team from Dechert, while Kirkland brought over Andrew Husdan from Clifford Chance, and Paul Weiss added Cameron Roper to build out their fund finance practice. Sullivan & Cromwell's recent Mike Francies hire signals they're planning more expansion in private capital and leveraged finance across the pond.
US firms have been flooding London with partner-level hires since last summer, and recruiters say the compensation packages are getting wild. Mayer Brown picked up a three-partner team from Dechert, while Kirkland brought over Andrew Husdan from Clifford Chance, and Paul Weiss added Cameron Roper to build out their fund finance practice. Sullivan & Cromwell's recent Mike Francies hire signals they're planning more expansion in private capital and leveraged finance across the pond.
