Paul, Weiss, Rifkind, Wharton & Garrison LLP has strengthened its asset management practice by recruiting two prominent dealmakers from Skadden, Arps, Slate, Meagher & Flom LLP. The New York-based law firm announced on Thursday the addition of David Hepp, co-head of Skadden’s financial institutions group and leader of its asset management transactions practice, along with partner Matthew Collin.
Hepp and Collin have an impressive track record, having advised major clients such as BlackRock on high-profile transactions, including the $12.5 billion acquisition of Global Infrastructure Partners earlier this year. Their client portfolio also includes industry giants like Wells Fargo, Affiliated Managers Group, and Dai-ichi Life.
The move comes as demand for legal services in corporate transactions is on the rise, following nearly three years of subdued activity. According to a recent report from the Thomson Reuters Institute, law firms are experiencing a surge in M&A work in the second quarter of 2024.
Paul Weiss and Skadden are both recognized leaders in the U.S. legal market for M&A advisory services. Hepp, a 25-year veteran of Skadden, will lead a newly established asset management M&A practice within Paul Weiss’ corporate department.
Reflecting on the growing importance of asset management in the M&A landscape, Hepp noted, “Asset management M&A has grown and continues to grow into a really robust segment of the M&A market. The deal sizes are getting bigger, attracting more attention, and the clients are becoming more significant.”
This recruitment marks the second significant loss for Skadden’s financial institutions group in recent months, following the departure of co-leader Sven Mickisch to Simpson Thacher & Bartlett LLP, where he now serves as managing partner of the financial institutions practice.
Contact: Paul, Weiss, Rifkind, Wharton & Garrison LLP
1285 Avenue of the Americas
New York, NY 10019
Phone: (212) 373-3000
Website: www.paulweiss.com
This strategic hire underscores Paul Weiss’ commitment to expanding its capabilities in asset management M&A, reinforcing its position as a leading law firm in the sector.