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Paul Weiss has recruited a pair of asset management partners from Skadden Arps Slate Meagher & Flom in New York as it continues to pick off top-tier talent from rivals on both sides of the Atlantic.
David Hepp, who co-led Skadden's financial institutions group, has joined the 1,000-lawyer firm alongside Matthew Collin. At Paul Weiss Hepp will lead the firm's new asset management M&A practice within its corporate department.
Hepp and Collin advise public and private acquirers as well as target companies in deals involving asset management, broker-dealers, wealth management and other financial service providers.
“David and Matthew have been at the forefront of many of the most significant transactions in these industries, including GP stakes and other minority investment transactions, which are becoming increasingly prevalent in today’s market,” said Marco Masotti, deputy chair of Paul Weiss' corporate department and global co-head of the investment funds group. “They will be a tremendous asset to our private equity clients.”
Hepp and Collin worked together on a number of transactions at Skadden, including leading the team that acted for BlackRock in its $12.6bn acquisition of Global Infrastructure Partners earlier this year. They also advised Janus Capital Group in its merger-of-equals with Henderson Group and Sun Life Financial in its acquisitions of InfraRed Capital Partners and Crescent Capital Group, as well as Affiliated Managers Group in numerous transactions. Hepp spent nearly 25 years at Skadden, while Collin joined the firm in 2011.
Paul Weiss has been on a hiring spree since last summer, particularly in London, where it has recruited a slew partners from Kirkland & Ellis and other rivals including Linklaters and Clifford Chance to build a top-tier practice around private equity.
The firm has also been busy adding dealmakers in New York, where it lost senior private equity M&A lawyers to Sidley Austin and White & Case earlier this year, from rivals including Cleary, Willkie Farr and Kirkland.
In May Michael Holston also joined the firm as a partner from the GC role at client firm General Electric to focus on matters including large transactions and crisis litigation.
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