‘Doubling down’: CC’s London PE head sets out strategy as buyout partners predict uptick

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‘Doubling down’: CC’s London PE head sets out strategy as buyout partners predict uptick

Spencer Baylin, Clifford Chance’s recently-appointed London private equity head, discussed his ambitions for the practice with LB as we garnered views from peers on how the market is faring.

In December, CC lifer Baylin stepped up to the role soon after the high-profile loss of Christopher Sullivan to Paul Weiss’ M&A practice amid the US elite firm’s aggressive drive to build a top-tier corporate practice. Continue reading “‘Doubling down’: CC’s London PE head sets out strategy as buyout partners predict uptick”

DWF’s private equity buyout: Selling the family silver or the opportunity of a lifetime?

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DWF’s private equity buyout: Selling the family silver or the opportunity of a lifetime?

In July, the board of DWF Group Plc confirmed market reports that it was planning to delist from the London Stock Exchange in a buyout by private equity firm Inflexion. Having floated in 2019, the fanfare of a record £95m IPO and a valuation of £366m to make DWF the UK’s largest listed law firm has arguably not lived up to the hype.

In the four years since, the firm’s fortunes have been chequered, with its highest valuation recorded just before the pandemic hit at 141.4 pence per share in February 2020, with a drop to 90 pence per share in March 2020 and an all-time low in June 2020 of 53 pence per share. Continue reading “DWF’s private equity buyout: Selling the family silver or the opportunity of a lifetime?”

‘The most tonto year ever’: the story behind a frenetic 12 months for private equity – and what’s next

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‘The most tonto year ever’: the story behind a frenetic 12 months for private equity – and what’s next

‘Ten years ago, PE didn’t do take-privates that often; what’s changed over the last five years in particular is that they are now completely accepted as buyers of public businesses. All the regulatory authorities get it, the banks understand it, so there’s no limit on the deals.’ So comments David Higgins, Kirkland & Ellis private equity (PE) heavyweight on the ever-increasing influence buyout houses now have on the public markets.

Of course, public-to-privates are nothing new but the volume and profile of deals and the breadth of sectors they are investing across is continuing to rise to new heights. Inevitably, as it does so, many firms are responding by reshaping their corporate practices – not to mention the way they do deals. Continue reading “‘The most tonto year ever’: the story behind a frenetic 12 months for private equity – and what’s next”