Allen & Overy (A&O) has vowed to become one of the country’s top private equity firms, following its move to boost its UK buy-out practice with the hire of Lovells private equity partner Derek Baird.
Baird, who has been a partner at Lovells since 2002 after joining from Dickson Minto, becomes the firm’s fourth private equity partner in London, and will look to continue working for his main private equity clients Charterhouse and 3i.
A&O private equity partner Alan Paul told Legal Week: "If you look across Europe we are in the top few advisers, but the truth is we have slipped back a bit in the UK and it is important for us to get back into the top three or four."
He added: "Our overall objective is to have an involvement in the major transactions."
In July last year, Baird led a team for Lovells advising Charterhouse on its £739m acquisition of office facilities company PHS Group. A&O, led by corporate partner Patrick Speller, advised PHS. A&O has lagged behind its magic circle rivals in the private equity market in recent years. Clients of the firm’s buy-out practice include Macquarie, Baugur and Japanese private equity house Nikko.
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Published: 26/01/2006 00:00
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