Fund Formation Private Capital Law Firms: Fund Formation

PRIVATE CAPITAL LAW FIRMS: FUND FORMATION PRIVATE CAPITAL LAW FIRMS: FUND FORMATION

We put fund formation law firms under the microscope, looking at the activity of these firms by fund asset class, primary geographic focus, fund size, manager experience and more.

Fig. 1: Prominent Law Firms Servicing Private Capital Funds Closed in 2018 YTD (As at May 2018) No. of Known Private Capital Aggregate Capital Raised by Known Private Firm Funds Closed in 2018 YTD Capital Funds Closed in 2018 YTD ($mn) Kirkland & Ellis 27 36,773 Simpson Thacher & Bartlett 7 22,578 Clifford Chance 7 7,804 Burness Paull 6 2,907 King & Wood Mallesons 5 5,523 Proskauer 4 4,177 Latham & Watkins 4 2,786 Goodwin 4 2,115 Ropes & Gray 3 4,960 Fried Frank 3 4,081 Macfarlanes 3 901 DLA Piper 3 274 Cooley 3 66 Weil, Gotshal & Manges 2 7,053 Bruun & Hjejle 2 5,078 Schulte Roth & Zabel 2 3,227 Maples & Calder 2 3,000 Paul, Weiss, Rifkind, Wharton & Garrison 2 1,619 P+P Pöllath + Partners 2 630 Willkie Farr & Gallagher 1 6,168

Source: Preqin

Fig. 2: Prominent Law Firms Servicing Private Capital Funds in Market (As at May 2018) No. of Known Private Capital Aggregate Capital Targeted by Known Private Firm Funds in Market Capital Funds in Market ($mn) Kirkland & Ellis 41 157,616 Schulte Roth & Zabel 24 11,425 Goodwin 22 8,288 Clifford Chance 20 8,039 Debevoise & Plimpton 19 22,761 Burness Paull 19 21,500 Dechert 18 5,225 Gunderson Dettmer 17 1,210 Proskauer 16 10,401 Fried Frank 15 36,847 Jones Day 15 4,018 Baker McKenzie 13 4,078 Paul Hastings 11 6,892 DLA Piper 11 3,650 King & Wood Mallesons 11 2,819 Greenberg Traurig 11 2,345 Cooley 11 970 Travers Smith 10 4,771 Macfarlanes 10 3,193 Weil, Gotshal & Manges 9 6,902

Source: Preqin

Fig. 3: Prominent Law Firms Servicing First-Time Private Capital Funds Closed in 2018 YTD (As at May 2018) No. of Known Aggregate Capital Raised by Known Law Firm First-Time Funds Closed First-Time Funds Closed ($mn) Kirkland & Ellis 2 1,075 Simpson Thacher & Bartlett 2 698 Osborne Clarke 1 680 Proskauer 1 385 Ropes & Gray 1 360 McCann FitzGerald 1 349 Corrs Chambers Westgarth 1 254 MJ Hudson 1 227 Schulte Roth & Zabel 1 227 Clifford Chance 1 222 CMS DeBacker 1 222 Raveh Haber & Co 1 212 Mayer Brown 1 175 Dechert 1 120 Norton Rose Fulbright 1 110 Davis Graham & Stubbs 1 55 Eversheds Sutherland 1 37 Buchalter Nemer Fields and Younger 1 30 Reitler Kailas & Rosenblatt 1 29 Kleinberg, Kaplan, Wolff & Cohen 1 15

Source: Preqin

Fig. 4: Prominent Law Firms Servicing Private Capital Funds in Market (As at May 2018) No. of Known First-Time Aggregate Capital Targeted by Known Law Firm Funds in Market First-Time Funds in Market ($mn) Kirkland & Ellis 9 107,457 Dechert 7 1,913 Cooley 6 505 Greenberg Traurig 5 1,225 DLA Piper 5 950 Morrison & Foerster 4 100,300 Jones Day 4 1,577 Proskauer 4 675 Linklaters 3 100,945 Simmons & Simmons 3 7,534 Simpson Thacher & Bartlett 3 2,297 Seward & Kissel 3 1,706 Clifford Chance 3 1,505 Shearman & Sterling 3 1,350 K&L Gates 3 1,050 King & Wood Mallesons 3 1,043 Morgan Lewis & Bockius 3 925 Baker McKenzie 3 789 Willkie Farr & Gallagher 3 580 MJ Hudson 3 579

Source: Preqin

Fig. 5: Prominent Law Firms Servicing Private Capital Funds Closed in 2018 YTD by Asset Class (As at May 2018) Private Equity & Infrastructure & Private Debt Real Estate Venture Capital Natural Resources Kirkland & Ellis Kirkland & Ellis Kirkland & Ellis Kirkland & Ellis Simpson Thacher & Bartlett Simpson Thacher & Bartlett Goodwin Latham & Watkins Clifford Chance Macfarlanes Clifford Chance Bruun & Hjejle Proskauer Fried Frank DLA Piper King & Wood Mallesons Burness Paull Burness Paull Latham & Watkins Thompson & Knight King & Wood Mallesons Schulte Roth & Zabel King & Wood Mallesons Clifford Chance Cooley Maples & Calder Greenberg Traurig Ropes & Gray Paul, Weiss, Rifkind, Ropes & Gray Osborne Clarke Weil, Gotshal & Manges Wharton & Garrison P+P Pöllath + Partners Carey Olsen Cole Schotz Corrs Chambers Westgarth Gianni Origoni Grippo Goodwin Simmons & Simmons Baker Botts Cappelli & Partners

Source: Preqin

Fig. 6: Prominent Law Firms Servicing Private Capital Funds Closed in 2018 YTD by Primary Geographic Focus (As at May 2018) North America Europe Asia-Pacific Rest of World Kirkland & Ellis Clifford Chance King & Wood Mallesons Corrs Chambers Westgarth Simpson Thacher & Bartlett Kirkland & Ellis Kirkland & Ellis Goodwin Proskauer Burness Paull Latham & Watkins Norton Rose Fulbright Goodwin King & Wood Mallesons Fried Frank Bentsi-Enchill, Letsa & Ankomah Latham & Watkins Macfarlanes White & Case - Cooley Simpson Thacher & Bartlett Ropes & Gray - Schulte Roth & Zabel Bruun & Hjejle Winston & Strawn - Maples & Calder P+P Pöllath + Partners Baker McKenzie - Paul, Weiss, Rifkind, Willkie Farr & Gallagher - - Wharton & Garrison Burness Paull Weil, Gotshal & Manges - -

Source: Preqin

Fig. 7: Prominent Law Firms Servicing Private Capital Funds Closed in 2018 YTD by Fund Size (As at May 2018) Less than $100mn $100-249mn $250-499mn $500-999mn $1bn or More P+P Pöllath + Partners Burness Paull Kirkland & Ellis Kirkland & Ellis Kirkland & Ellis Burness Paull Simpson Thacher & Bartlett Clifford Chance King & Wood Mallesons Simpson Thacher & Bartlett Bryan Cave Clifford Chance Burness Paull Fried Frank Clifford Chance Winston & Strawn Kirkland & Ellis Macfarlanes Goodwin Ropes & Gray CMS Bureau Cooley DLA Piper Latham & Watkins Proskauer Francis Lefebvre Dinsmore & Shohl LLP Macfarlanes Ropes & Gray Greenberg Traurig Weil, Gotshal & Manges Davis Graham & Stubbs Baker Botts Corrs Chambers Westgarth Weil, Gotshal & Manges Willkie Farr & Gallagher Bentsi-Enchill, Letsa MJ Hudson De Pardieu Brocas Maffei Bruun & Hjejle Bruun & Hjejle & Ankomah Conlin, McKenney & Philbrick Schulte Roth & Zabel Andulf Advokat Clifford Chance King & Wood Mallesons Eversheds Sutherland CMS DeBacker Linklaters Osborne Clarke Thompson & Knight

Source: Preqin

Unless otherwise noted, firms are included in tables based on number of known funds serviced within the given criteria. In the event of a tie, firms with the same number of known fund clients will be ranked according to the funds’ aggregate value.

We hope that you find the data in this report useful and welcome any feedback you may have.

If you would like to learn more about the methodology used or share data for our future reports, please contact [email protected] or get in touch with your account manager.