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Double hire for Dechert as White & Case PE player Allardice exits with K&E finance partner

Dechert has strengthened its private equity and finance practices hiring White & Case‘s Ross Allardice and Kirkland & Ellis partner John Markland to boost its presence in the City.

Private equity partner Ross Allardice (pictured) joins from White & Case having moved from Kirkland in 2013. Recently, Allardice has advised HgCapital on its £200m acquisition of The Foundry from Carlyle. He also guided Mid Europa through its acquisition of Danube Foods Group BV and Clates Holding which had combined revenues of more than €400m in 2014. Other clients include Better Capital, Arle Capital, Nordic Capital and Rhone Capital.

Markland has been with Kirkland for 12 years after making the move from Weil, Gotshal & Manges and founded the firm’s European debt finance team. Markland has advised clients such as Palamon Capital Partners, Mid Europa Partners and Bain Capital.

Chair of Dechert’s London office management committee Camille Abousleiman said: ‘The London office is expanding and adding some very dynamic partners. With the addition of John and Ross as a team, we have significantly enhanced our private equity and global finance offerings both in London and on the continent.’

In August, the Philadelphia headquartered firm bolstered its finance team in the City with the hire of two DLA Piper partners, Philip Butler and David Miles. Miles was DLA’s head of debt finance in London while Butler was head of finance and projects, and global co-chair in the firm’s financial services sector. Going the other way, Dechert recently lost real estate partner Jeremy Trinder to Latham & Watkins in July this year.

Dechert posted global robust revenues growing 6% from $839.5m in 2014 to $890m in 2015 driven by strong growth in the firm’s litigation practice which was up 17%. The firm’s PEP also grew by 8.5% from $2.32m to $2.5m. The firm has 127 fee earners in the City, and its partnership ranks in London fell 9% to 39 partners in 2015.#

For more on Private Equity in the City see: ‘ABC – the brutally simple world of a private equity lawyer’