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Clifford Chance London Funds Team Quits For Weil Gotshal
10-06-2011
Tagged Under : Weil, Weil Gotshal
Those moving include practice headEd Gander, who will be joined at Weil by fellow funds partners Nigel Clark and Nick Benson, and tax partner Jonathan Kandel. The group hasrepresented London private equity firm BC Partners Limited, Dubai-based Abraaj Capital Limited, and Monaco hedge fund SRM Capital Management.
A Weilspokesperson said in an e-mail to The Am Law Daily that the firm is “currently in negotiations” with Clifford Chanceover a start date. The partners may be forced to remain at Clifford Chance for as long as six months, according to Legal Week. A senior source at Clifford Chance tells us that the group will serve a notice period, during which time they will continue to work with the firm to “ensure a smooth transition of mandates.”
The departures will leave Clifford Chance with just one funds partner in london, afterGanders predecessorand star rainmaker, Jason Glover leftto launch a U.K. funds business at Simpson Thacher & Bartlett last July.
Weil London managing partner Mike Francies told Legal Week that the firm had been looking to compliment its U.S. funds practice in Europe “for some time”.The hires wereapproved by a partnership vote last week.
“The funds practice in the U.S. has been a key part of the growth of our private equity business,”Francies said.”[We] are delighted that four partners of such high calibre will be joining us. It makes huge sense for us and I think will have a significant impact in the European private equity market.
Clifford Chance London corporate head Simon Tinklertold The Am Law Dailyin a statement: “We will maintain the strength of our capability in London with a long-term strategy of a combination of internal promotions and transfers and possibly lateral hires.” He added that the firm still has “over 150 lawyers” in its funds practice globally.
Experienced funds partner Nigel Hatfield has replaced Gander as head of the practice, which a Clifford Chancespokesperson saidwill draw on resources from the wider corporate department while the team is restocked.
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