Paul Weiss Bolsters Talent Pool from Kirkland & Ellis

Paul Weiss Bolsters Talent Pool from Kirkland & Ellis

Paul, Weiss, Rifkind, Wharton & Garrison, a prominent U.S. law firm, has initiated a global talent acquisition move targeting its larger competitor, Kirkland & Ellis. In the escalating competition for top legal professionals, Paul Weiss, headquartered in New York, is securing the expertise of several private equity specialists from Kirkland's London office. Among the new hires is Neel Sachdev, a seasoned practitioner in debt financing.

According to the Financial Times, it has been revealed that Paul, Weiss is poised to bring on board Roger Johnson, a former senior partner at Kirkland who recently departed the firm. Additionally, Paul Weiss has successfully attracted a group of lawyers based in Los Angeles from Kirkland, led by Eric Wedel. Insider sources indicate that the firm is also engaged in discussions to secure the services of several other partners from the same Los Angeles office.

Just days after Alvaro Membrillera, the head of Paul Weiss's London office, joined Kirkland, a team of private equity lawyers have joined Paul Weiss.

The latest move underscores the intense competition for top talent in the private equity legal market. Leading private equity lawyers can fetch annual pay packages of up to $20 million, rivalling the salaries of top bankers.

The rise of private equity as a prominent force in dealmaking has proven advantageous for law firms. Through the cultivation of extensive relationships, these firms have gained a steady stream of work, ensuring a continuous workflow even during periods of reduced transactional activity.

The moves are a sign that Kirkland is determined to maintain its dominance in the private equity legal market. The firm has been the top-ranked law firm for private equity deals for the past 10 years, and it is not about to give up its crown without a fight.

Sachdev is concluding his over two-decade tenure at Kirkland, during which he significantly contributed to the firm's European expansion. His advisory role has centred on assisting private equity entities in financing leveraged buyouts, with esteemed clients like Bain Capital, BC Partners, and Warburg Pincus. Johnson's portfolio includes EQT among his clients. On the other hand, Membrillera, who will be joining Kirkland, boasts strong connections with notable names such as KKR and General Atlantic, having worked closely with them.

Paul Weiss is also set to welcome additional partners in London, including capital markets experts Matthew Merkle and Deirdre Jones, as well as debt finance partner Kanesh Balasubramaniam, according to sources familiar with the matter. Kirkland expressed its gratitude for the contributions of the departing lawyers to the partnership and extended its well-wishes for their endeavors at their new firm.

Paul Weiss is a widely recognised law firm on Wall Street, boasting prominent clientele such as the U.S. private equity powerhouse Apollo Global Management, while maintaining strong affiliations with the U.S. Democratic party. Notably, its senior leadership even includes the sibling of the U.S. Senate Majority Leader Chuck Schumer. Helmed by Brad Karp, the firm also features standout mergers and acquisitions lawyer Scott Barshay among its partner ranks. In June, the firm further reinforced its capabilities by recruiting Rob Kindler, previously the Chair of M&A at Morgan Stanley

Despite its relatively modest presence, with over 30 lawyers, in London, as indicated by its website, Paul Weiss' impact and reputation remain noteworthy.