‘Creating value and preventing value destruction are two sides of the same coin’ – Livingbridge GC Jeremy Dennison

‘Creating value and preventing value destruction are two sides of the same coin’ – Livingbridge GC Jeremy Dennison

Jeremy Dennison – General counsel, Livingbridge

Year of qualification: 2009
Travers Smith, 2007-12
Goodwin Procter, 2012-14
MUSTO, 2014-15
Travers Smith, 2015-18
Livingbridge, 2018-present

Why did you want to become a private equity lawyer?

My first exposure to private equity was during my training contract at Travers Smith, which has one of the leading mid-market private equity practices in the City. I was working with an amazing team of lawyers and loved the buzz of the deal and the elegance of the PE model. I knew early on that this was the area of law I wanted to focus on. Continue reading “‘Creating value and preventing value destruction are two sides of the same coin’ – Livingbridge GC Jeremy Dennison”

‘Private capital is a super creative industry’ – KKR Europe GC Susanna Berger

‘Private capital is a super creative industry’ – KKR Europe GC Susanna Berger

Susanna Berger – Managing director, general counsel for Europe, KKR & Co

Year of qualification: 2002
University of Chicago Law School, 1997-98
Simpson Thacher & Bartlett, 2000-06
Avenue Capital Management, 2006-08
Gibson, Dunn & Crutcher, 2008
KKR & Co, 2009-present

I joined KKR 15 years ago. At that point the team consisted of about 40 people focused purely on private equity. Fast forward and there’s been a huge shift – today we are an alternative asset manager; we cover multiple asset classes including infrastructure, real estate and credit. Continue reading “‘Private capital is a super creative industry’ – KKR Europe GC Susanna Berger”

‘My time on non-legal is the same as my time on legal’ – Bridgepoint GC Rachel Thompson

‘My time on non-legal is the same as my time on legal’ – Bridgepoint GC Rachel Thompson

Rachel Thompson – Partner and group general counsel, Bridgepoint

Year of qualification: 2007
Clifford Chance, 2005-09
Bridgepoint, 2010-present

It was never really a conscious decision to go in-house; I came on secondment from Clifford Chance two years after qualification, when Bridgepoint had just hired [former Travers Smith private equity head] Charlie Barter as its first GC. It was right back at the start of PE houses getting more sophisticated in terms of their in-house legal functions. Continue reading “‘My time on non-legal is the same as my time on legal’ – Bridgepoint GC Rachel Thompson”

‘Working in private markets keeps you on your toes’ – Ontario Teachers’ Pension Plan’s Melanie Sanchez

‘Working in private markets keeps you on your toes’ – Ontario Teachers’ Pension Plan’s Melanie Sanchez

Melanie Sanchez – Global general counsel, investments, Ontario Teachers’ Pension Plan

Clayton Utz, 2005-06
Blake, Cassels & Graydon, 2006-14
Ontario Teachers’ Pension Plan, 2014-present

I ended up working on private equity deals not by design, but rather by chance. I started out my career in Australia as a financing lawyer and when I moved to Canada I transitioned to general corporate work. Over time my practice evolved to support primarily US private equity clients investing into the mid-market in Canada. Since moving in-house I have had the opportunity to support our Ontario Teachers’ private equity team globally, as well as our other asset classes. Continue reading “‘Working in private markets keeps you on your toes’ – Ontario Teachers’ Pension Plan’s Melanie Sanchez”

‘Doubling down’: CC’s London PE head sets out strategy as buyout partners predict uptick

‘Doubling down’: CC’s London PE head sets out strategy as buyout partners predict uptick

Spencer Baylin, Clifford Chance’s recently-appointed London private equity head, discussed his ambitions for the practice with LB as we garnered views from peers on how the market is faring.

In December, CC lifer Baylin stepped up to the role soon after the high-profile loss of Christopher Sullivan to Paul Weiss’ M&A practice amid the US elite firm’s aggressive drive to build a top-tier corporate practice. Continue reading “‘Doubling down’: CC’s London PE head sets out strategy as buyout partners predict uptick”

DWF’s private equity buyout: Selling the family silver or the opportunity of a lifetime?

DWF’s private equity buyout: Selling the family silver or the opportunity of a lifetime?

In July, the board of DWF Group Plc confirmed market reports that it was planning to delist from the London Stock Exchange in a buyout by private equity firm Inflexion. Having floated in 2019, the fanfare of a record £95m IPO and a valuation of £366m to make DWF the UK’s largest listed law firm has arguably not lived up to the hype.

In the four years since, the firm’s fortunes have been chequered, with its highest valuation recorded just before the pandemic hit at 141.4 pence per share in February 2020, with a drop to 90 pence per share in March 2020 and an all-time low in June 2020 of 53 pence per share. Continue reading “DWF’s private equity buyout: Selling the family silver or the opportunity of a lifetime?”

‘The most tonto year ever’: the story behind a frenetic 12 months for private equity – and what’s next

‘The most tonto year ever’:  the story behind a frenetic 12 months for private equity – and what’s next

‘Ten years ago, PE didn’t do take-privates that often; what’s changed over the last five years in particular is that they are now completely accepted as buyers of public businesses. All the regulatory authorities get it, the banks understand it, so there’s no limit on the deals.’ So comments David Higgins, Kirkland & Ellis private equity (PE) heavyweight on the ever-increasing influence buyout houses now have on the public markets.

Of course, public-to-privates are nothing new but the volume and profile of deals and the breadth of sectors they are investing across is continuing to rise to new heights. Inevitably, as it does so, many firms are responding by reshaping their corporate practices – not to mention the way they do deals. Continue reading “‘The most tonto year ever’: the story behind a frenetic 12 months for private equity – and what’s next”