Macfarlanes appoints a highly rated investment funds partner to boost its Alternative Asset Management Offering
In lateral hiring, London's top independent law firm Macfarlanes has appointed Stephen Ross, a highly rated investment funds partner from Sidley Austin in London.
Ross, who led the London private funds team at Sidley Austin, has moved out of the firm after being associated with it for nine years. The former group general counsel of Man Group will be associated with the Macfarlanes' investment management group in the private funds team, headed by Stephen Robinson, as a partner.
He advises on a wide range of issues that includes private fund formation, cornerstone investing, general partner (GP) equity stakes, and hedge funds.
Ross gained extensive experience in the sector during his associations with Clifford Chance where he functioned as co-head of investment funds. He later joined Man Group, where he spent a decade.
"The alternative asset management space has been one of our key drivers in recent years and remains an area of focus for us. Stephen's experience and market reputation will augment our alternative asset management offering and provide new impetus to our growth," Macfarlanes senior Partner Sebastian Prichard Jones said.
Partner laterals remain relatively rare for the highly profitable but tight-knit Macfarlanes, whose profit per equity partner (PEP) for the 2021-22 financial year jumped by 19 per cent to £2.5 million, putting it well ahead of rivals firms like Freshfields Bruckhaus Deringer, which is the most profitable Magic Circle firm.
Ross's arrival at Macfarlanes marks the latest of a flurry of top-level lateral hires in London this month.