Paul Weiss has added two seasoned asset management attorneys from Skadden Arps Slate Meagher & Flom, further strengthening its corporate department. David Hepp, previously the co-head of Skadden’s financial institutions group and head of its asset management transactions practice, along with partner Michael Collin, are set to join Paul Weiss. Hepp will lead the firm’s newly established asset management M&A practice.
The expansion aligns with Paul Weiss’s strategic focus on asset management, an area that has seen significant growth. “Asset management, a niche area in past decades, is now more mainstream,” Hepp stated, emphasizing the complementary nature of top-tier M&A and regulatory practices that clients highly value.
Paul Weiss has been aggressively recruiting top-tier talent across its offices over the past year. The firm is on the verge of onboarding Kirkland & Ellis investment funds partner Jeremy Leggate in London. Past recruits include M&A partner Jim Langston from Cleary Gottlieb Steen & Hamilton and debt finance partner Eric Wedel from Kirkland & Ellis.
The firm’s growing clientele comprises major funds such as Apollo Management, KKR, and Oak Hill. Recent notable deals include General Atlantic’s acquisition of Actis and Angelo Gordon’s $2.7 billion sale to TPG.
“Building something best in class” is the aim, according to Marco Masotti, deputy chair of Paul Weiss’s corporate department and global co-head of the investment funds group. He highlighted that integrating strategic and alternative/private equity perspectives results in a powerful business model.
Hepp and Collin’s track record includes leading Skadden’s representation of BlackRock in its $12.55 billion acquisition of Global Infrastructure Partners earlier this year. They also played key roles in advising on high-profile transactions such as E*Trade’s $13 billion sale to Morgan Stanley and BlackRock’s acquisition of Kreos Capital. Hepp’s tenure at Skadden spanned nearly 25 years, while Collin’s lasted almost 14.
For more details, please see the original article on Bloomberg Law.