Proskauer rising

Anyone concerned that the credit crunch is slowing private equity activity isn’t thinking globally. Consider Proskauer Rose. The Boston-based law firm has just opened new two new offices in Europe and Latin America, and hired new partners in four locations. In the past couple of months, Proskauer Rose has announced the launch of offices in London, to be headed by former O’Melveny & Myers private equity partner Matthew Hudson, and in São Paulo, headed by corporate partner Antonio Piccirillo. The addition of the two offices brings the firm’s total office count to 10 globally.
Recent hires include private equity partners Daniel Schmidt and Olivier Dumas from Schmidt Gicqueau Dumas Mull-Jochen in Paris; hedge fund and private equity partner Timothy Clark from O’Melveny & Myers in New York; corporate partner Trevor Chaplick from Wilson, Sonsini, Goodrich & Rosati in Washington DC; and real estate partners Louis Eastman and Douglas Frank from Mayer, Brown, Rowe & Maw in Los Angeles.
“Our strategy for expansion has always been very simple: we find the best individuals or groups of individuals that are at the top of their game and work around them,” says Robin Painter, a corporate partner and co-chair of the private investment funds group in Boston.
Private equity, according to Proskauer Rose chairman Alan Fagin, is one of the cornerstones of the firm’s strategy. The firm’s 125 private equity professionals service an enviable client list, consisting of JPMorgan Private Equity, Adams Street Partners, Merrill Lynch Global Private Equity, Circle Peak Capital, Ares Management, Charterhouse Group and New Enterprise Associates, among many others. Recent representations on private equity transactions include the $33 billion acquisition of HCA and the $8 billion acquisition of Extended Stay Hotels.
About 25 percent of the firm’s private equity work comes from non-US clients, but that proportion could change quickly in light of recent developments. Does Proskauer Rose have plans to open more offices?
“Our clients view the opening of a London office as responsive to their needs, and future Proskauer expansion in Europe and elsewhere will also be driven by the demands of our client base,” says David Tegeler, a corporate partner and co-chair of the private investment funds group.