UK Lawyers and US Lawyers in the market of private equity
UK firms are in battle with their US counterparts to win more private equity and related work – and a report suggests ways that the UK lawyers could make greater advances.
A report by Fox Rodney Search into the market for private equity, high yield and leveraged finance areas says that US lawyers have dominated this market since they went into it 35 years ago. The UK firms, by contrast, only began concentrating on this sector in the last decade.
Canadians
But Fox Rodney suggests ways the UK lawyers could make more inroads – by, for instance, capitalising on a loss of popularity of US high yield debt financing by organisations and by using their special knowledge of European markets. There are also certain companies, such as the Canadian pension funds, which are not tied into the US market and which might be persuaded to do more in the European markets.
US loyalty
However, UK firms would not find it simple to make inroads from their well-placed rivals on the other side of the Atlantic. The US firms have long track records with their clients and can count on some loyalty from the top private equity houses. And Lawyers Monthly says that the US lawyers are ‘increasing their hold’ on the private equity mandates at the moment.
Source: GlobalLegalPost – UK Lawyers and US Lawyers in the market of private equity
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