Skadden jumped in to rep Walkers while Freshfields backed Vitruvian Partners on a deal where the private equity shop is co-investing in the offshore law firm's corporate services arm. Walkers Professional Services does back-office stuff for hedge funds and CLO managers, and the partnership means both sides will pump money into tech upgrades and market expansion. Richard Youle and Katja Butler led the Skadden crew out of London, while Alastair Brown and Tim Wilmot ran point for Freshfields with a bunch of partners from different practice areas.
The move drops right when private equity firms are sniffing around law practices because they dig the steady cash flow and growth potential. McDermott Will recently said it might restructure to let PE firms take stakes, and UK legal deals hit 534 million pounds this year, even though that number stays pretty small compared to the overall market size.
The move drops right when private equity firms are sniffing around law practices because they dig the steady cash flow and growth potential. McDermott Will recently said it might restructure to let PE firms take stakes, and UK legal deals hit 534 million pounds this year, even though that number stays pretty small compared to the overall market size.
