Davis Polk has made a splash in London with the hire of senior A&O Shearman private equity partner Gordon Milne as it signals an investment push in the City. 

Milne is the second partner to join the top Wall Street firm in recent months following its hire in May of Paul Hastings’ former global finance practice co-chair, Luke McDougall.

The firm has historically operated a relatively small London office, rarely dipping into the market for lateral hires. However, it has earmarked the office for growth, a move that comes in the wake of Wall Street rival Paul Weiss’ recruitment of more than 20 partners since last summer as it seeks to build a top-tier private equity practice from scratch. 

“I am thrilled to welcome Gordon to Davis Polk,” said managing partner Neil Barr. “We have identified our London office as an area ripe for growth. Gordon is highly respected in the market and represents an important step in the execution of our strategy to build out our UK private equity capabilities.”

Milne advises private equity houses, financial sponsors and their portfolio companies on M&A and other corporate finance transactions, including carve-outs and public-to-private takeovers. 

He has more than 25 years of private equity experience, having started out his career at renowned private equity boutique Dickson Minto before joining legacy Allen & Overy (A&O) in 2000, where he made partner in 2009.

In February, he co-led the team that advised key client, the UK’s Exponent Private Equity, on its acquisition of Ireland’s Chanelle Pharma in a deal valued at $323m. That followed from advising Exponent last year on its acquisition of International Flavors & Fragrances’ Flavor Specialty Ingredients business for $220m.

Other private equity houses he has advised include PAI Partners, Charterhouse Capital, Advent International and Bridgepoint.

“Gordon’s practice mix of private M&A transactions, minority investments and portfolio company mandates spanning refinancings, restructurings and exits aligns very well with our platform,” said Davis Polk’s Europe practice head Will Pearce, who joined in 2013 from Herbert Smith Freehills. 

“Gordon is one of the preeminent private equity practitioners in London, with an impressive portfolio of longstanding fund clients. We are absolutely delighted to have him on board as we continue to grow and evolve our London practice.” 

An A&O Shearman spokesperson said: “We thank Gordon for the contribution he has made to the firm and wish him all the best for the future.”

Earlier this month, Paul Weiss continued its London expansion with the hire of Kirkland & Ellis funds partner Jeremy Leggate, boosting the number of partners it has hired from Kirkland since last summer to 12.