Private Equity: UK-wide

This regional firm is a mainstay of the domestic mid-market private equity space. Despite the straitened market circumstances, the team has managed to complete a high volume of investments, disposals, restructurings and portfolio company issues, and is also taking a greater interest in the venture capital market. It offers "consistently strong, commercially focused advice," and clients appreciate its cost-effectiveness and ability to advise in several centres of excellence across the UK. Highlights for the team include its involvement on the £215 million disposal of Kurt Geiger to the Jones Group.

KEY INDIVIDUALS Leeds-based Yunus Seedat is considered a "sensible" private equity lawyer in the mid-market space. He handled 3i's investment in retail chain Go Outdoors, and advised Elysian Capital on the MBO of Tekmar Energy.

Ben Rodham has joined the firm from Linklaters as a partner. According to sources, he "clearly has significant experience in executing private equity transactions and is highly capable."

Allen & Overy's private equity team handles a range of mid-to-large transactions. It has an excellent and increasingly busy sponsor practice as well, and is also handling an increase in matters relating to infrastructure funds. The team has a growing international focus, with continuing strength in the Nordic countries. The team recently lost the venerable Alan Paul to Berwin Leighton Paisner, but remains a "first-class quality" offering. Key pieces of work include advising Pamplona Capital Management on the sale of the TMD Friction group, a EUR600 million deal. The team has also acted for Towerbrook on several matters.

KEY INDIVIDUALS Global infrastructure group co-head Susan Howard leads on many of the infrastructure mandates for the team, recently advising Capstone Infrastructure on its CAD215 million acquisition of a 70% stake in Bristol Water from Sociedad General de Aguas de Barcelona.

According to sources, Ashurst "excels in the commercial quality of its legal advice." Its long experience in the private equity market combined with cross-border skills enable it to advise on any aspect of transactions. The nine-partner team's diversified practice sees it act for clients such as Allianz, Apax, Cinven and Nordic Capital. Its "focused approach" has seen it maintain a steady deal flow, including advising Oakley Capital on its acquisition of a controlling stake in Time Out New York.

KEY INDIVIDUALS Stephen Lloyd leads on the Apax relationship, and is widely perceived as being "very commercial and proactive – he understands what the client needs almost immediately." He advised Envoy Services on its acquisition by WorldPay.

Private equity head Bruce Hanton is a "strong technical lawyer" who is widely respected by peers.

David Carter has had a highly successful year, with observers saying he is "someone to keep your eye on." His hands-on involvement is much appreciated, as is his commercially driven approach: "His main forte is pushing a deal forward and getting it done. He grabs all parties on all sides and bashes their heads together and forces the deal to go through."

This private equity team is strong in cross-border transactions, particularly pan-European. The group is also able to tap into the growing Turkish market, having completed its affiliation with Esin Attorney Partnership in October 2011. It has capitalised on the buoyancy of the Nordic region, advising EQT on several deals. Platinum and AXA are other significant names on the client roster.

KEY INDIVIDUALS David Allen has an excellent track record in advising sponsors and management teams on a variety of buyouts. He has particular strength in cross-border management equity arrangements in primary and secondary buyouts.

The team at Berwin Leighton Paisner notably stands out for its work in the real estate and hospitality sectors. Sources note that the team is "knowledgeable, professional and very commercially aware," and that "the level of partner involvement is perfect."  It advised longstanding client Patron Capital on its equity investment into Jupiter Hotels Holdings. Other clients include Darwin Private Equity and Montagu Private Equity. 

Raymond McKeeve is noted for his "outstanding leadership" of Berwin Leighton Paisner LLP's private equity practice, and combines "skills, market knowledge and experience."

The venerable Alan Paul is considered a legend in this space with incredibly deep knowledge of the field.

Bird & Bird is a leading firm in the venture capital field, known for its expertise in technology, life sciences and cleantech. Clients note its comprehensive international network as a big draw. The team has recently expanded with several lateral hires, enabling it to cover a broader remit. It has experienced an uptick in US interest in the European venture capital market, and the London practice has been involved in deals throughout Europe, with Germany and Finland being especially active jurisdictions. Highlights include advising Advent on the £11.4m Series B funding round for high-end online marketplace Farfetch.com. Other clients include Index Ventures and Kreos Capital.

KEY INDIVIDUALS The "superb" Struan Penwarden stands out for his "integrity, commercial balance and loyalty." He advises both equity and debt providers, and acts for investee companies.

Angus Miln covers a broad range of private equity transactions, running from early-stage investments to later-stage buyouts.

Simon Fielder combines expertise in the technology and leisure sectors with formidable experience and commendable client service.

Geraint Lloyd recently arrived from Berwin Leighton Paisner, strengthening Bird & Bird's team in the venture capital area.

Brown Rudnick's venture capital team has earned a sterling reputation through its work for a wide range of European venture capital funds, both domestically and across other jurisdictions. It covers the full scope of the investment cycle, assisting funds with everything from seed and early-stage capital to the later and buyout stages.

KEY INDIVIDUALS Scott Burns is a key contact.

This major US firm fields a "good bench of smart people who are versatile and can turn their hand to unique transactions." It has had a successful year in the emerging markets, with a raft of instructions relating to Africa, the Middle East and Russia. It advised Renaissance Partners on its acquisition of land interests outside the Ghanaian city of Takoradi, the home of the country's oil industry. The team continues to be active in the European market, recently advising Agilent Technologies on its USD2.2 billion acquisition of cancer diagnostics company Dako.

KEY INDIVIDUALS Sources assert that Michael McDonald is "creative and thoughtful about how to find solutions," and excels at "driving processes – he makes sure we hit deadlines and pushes things through."

Simon Jay led on many of Cleary's major private equity deals throughout 2011, such as assisting TPG with its £1.3 billion divestment of Turkish spirits manufacturer Mey Içki Sanayi ve Ticaret to industry giant Diageo.

The "bright and committed" Tihir Sarkar has a strong cross-border practice, and has acted on several major deals in Africa, including advising Helios Investment Partners on the formation of the largest pan-African private equity fund to date.

Clifford Chance remains at the pinnacle of the private equity market "without a shadow of a doubt," say interviewees. The "exceptionally strong" team remains at the forefront of any developments thanks to continual innovation, adaptation to market conditions and some exciting new client wins. Of note, the team was recently appointed as one of Cinven's first-choice legal counsel, and is also instructed by Parcom Capital. Its ability to "source experts in any legal area" is much admired, enabling it to offer a seamless service across transactions, covering everything from tax to regulatory approvals. It advised The Carlyle Group on its £1 billion acquisition of RAC, one of the largest UK buyouts in 2011. Clifford Chance is also a leader in the infrastructure field, where it has expanded the remit of the private equity group to capitalise on the growing popularity of specialist infrastructure funds.

KEY INDIVIDUALS Matthew Layton leads the global corporate group and has had "a stellar reputation since day one." According to peers, he remains the "gold standard" for private equity lawyers.

Due to his wealth of experience, David Pearson is "one of the best private equity lawyers in London" and "one of the savviest professionals in the field." According to one client, he is "commercial whilst keeping the interests of his client at heart."

London corporate head Simon Tinkler acts for Montagu Private Equity, Clayton Dubilier & Rice and Duke Street Capital, amongst other clients. He recently acted for one of Montagu's portfolio companies on the £22 million purchase of a website hosting company.

Kem Ihenacho is the rising star of the practice, and is noted for his African expertise. He advises a range of funds on African investments, and recently assisted Helios Investment Partners with its participation in a joint venture with Vitol to acquire Shell's African downstream petroleum business.

Amy Mahon handles a range of domestic and cross-border deals, and is a key member of Clifford Chance's infrastructure funds team.

Clients recommend CMS for its "tailored and personal" service, its "commercial and pragmatic approach" and its strength in the domestic mid-market. The team also benefits from the firm's network for international transactions, especially in the CEE market, where it advises leading players such as Advent International, BC Partners and AnaCap Financial Partners. Interviewees add that "the senior team remains at the centre of service provision, ensuring that the client gets the highest quality service."

KEY INDIVIDUALS Competitors appreciate that Andrew Sheach is "sensible and straightforward to deal with," and describe him as a "quality operator." He recently acted for the Capital Safety Group management team on its tertiary buyout by KKR.

According to clients, James Grimwood stands out for his "commercial awareness, sector knowledge, attention to detail, quality of output and project management."

Jason Zemmel's case management skills and commercial acumen earn high praise from sources. He led the team that advised Sovereign Capital Partners on its secondary buyout of the National Fostering Agency Group.

This US firm is well recognised in the general biotech area and carries this expertise to venture capital matters. It advises some of the leading funds, such as SR One, Novartis Ventures and Qualcomm Ventures.

KEY INDIVIDUALS Louise Nash advised Novartis Ventures as the lead investor in Atlas Genetics, a UK-based DNA diagnostics company. She focuses on early-stage investments and is seen as a "commercially savvy" lawyer.

Paul Claydon's "commerciality and corporate skill are second to none" in the life sciences area. His sector-specific knowledge, efficiency and "commercial astuteness" are in high demand.

James Gubbins acted for Sofinnova Partners in its investment in Mission Therapeutics, a new spin-off company. He is recommended for later-stage investments and full buyouts.

This private equity practice has a solid reputation for its work in emerging markets investments and fund formation, particularly in Russia, Africa and India. It recently assisted Helios Investment Partners with its USD110 million acquisition of a controlling stake in Nigeria's Interswitch. The UK has proven to be a steady source of deals for the team, with the mid-market especially active. The lawyers are "extremely smart and knowledgeable; they know when they need to spend more time on issues and when to take a light approach."

KEY INDIVIDUALS David Innes is known for his sterling work with management teams, where he is held in high regard by peers. His recent highlights include advising HarbourVest Partners on its funding and participation in the acquisition of a portfolio of five Canadian industrial businesses, led by Nova Capital Management.

This boutique firm remains a premier destination for private equity instructions, advising on issues from its offices in Edinburgh and London. Sources commend the firm for its commerciality, and say "the experience of working with Dickson Minto is a positive one." BC Partners remains one of the firm's biggest clients.  

KEY INDIVIDUALS Market observers invariably state that Alastair Dickson is "a real class operator" with a "tremendous reputation." One peer added: "As long as he is there Dickson Minto will be a force in the market." 

DLA Piper is a leader in the domestic lower mid-market space, where it handles a high volume of LBOs and advises management teams on headline transactions. Prominent clients include Gresham Private Equity, Towerbrook and Sun Capital. The team is able to access expertise from across the firm's global network, enabling it to offer a streamlined international service.

KEY INDIVIDUALS Birmingham-based James Lavery is recognised as a key player in the UK private equity scene. His clients include Barclays Private Equity, Gresham, LDC and Sovereign Capital.

Ed Griffiths is "super in terms of understanding the technical aspects of deals," sources comment. Based in London, he advises on domestic private equity assignments.

With excellent technology and IP practices and a European network, this firm provides a streamlined service on venture capital mandates. It has had a busy year in Europe, with Germany and France being especially active. The 15-strong group acts for both investee companies and investors, and recently assisted Esprit Capital I with the £20 million sale of the PacketExchange group to GTT-EMEA. Other clients include BBC Worldwide and Peerless Ventures.

KEY INDIVIDUALS Andrew Blankfield is the key contact for the team.

This magic circle powerhouse moves up to the top band in recognition of an outstanding year. It acts for a host of leading funds, including CVC Capital Partners, Cinven, Apax and Blackstone. The London office assisted new client Permira with its EUR1.5 billion divestment of global animal nutrition business Provimi to Cargill, one of the largest deals of 2011. Satisfied clients appreciate that the team can use the firm's market-leading corporate expertise to deliver "top-quality legal advice efficiently and commercially." It is active in the Nordic countries, where private equity investors are taking advantage of greater bank liquidity. Turkey and the CEE are other areas where the firm has seen a solid deal flow.

KEY INDIVIDUALS Financial investors sector group co-head David Higgins, a top name in the field, has vast experience in handling complex domestic and cross-border transactions. He is noted for his expertise in Australian-related matters.

Christopher Bown is "one skip ahead of the other side on deals," and is praised for his "excellent legal and commercial advice."

This 14-strong team is known for its cross-border work, where the Middle East remains an important area. The CEE has also emerged as an important jurisdiction, and the team advised Trans Balkan Investments on the disposal of its 67% interest in TechnomarketDomo to the State General Reserve Fund of Oman.

KEY INDIVIDUALS Paul Harter is the first port of call for clients.

Herbert Smith Freehills' compact private equity practice works on buyouts, MBOs and secondaries across the UK, Europe, the Middle East and Asia. It benefits from the expertise of the firm's excellent corporate practice, and can call upon other departments when needed to provide a fully integrated service. Carlyle and Blackstone are some of the top funds that it advises.

KEY INDIVIDUALS Gavin Davies is the key contact at the firm.  

This firm rises in the rankings this year having earned praise for its "fantastic breadth and depth of knowledge and experience." It works on a truly international scale, with established practices across Europe, the Middle East and Asia, and it is now also making inroads into Africa and Latin America. It covers MBOs on headline transactions as well, acting for the management of Phadia on its EUR2.47 billion acquisition by Thermo Fisher Scientific. Another significant transaction was acting for GI Partners on its acquisition of two companies from Citibank.

KEY INDIVIDUALS The "excellent" Alan Greenough is praised as being "extremely committed to his clients." He advised Inflexion Private Equity Partners on its minority investment in Rhead Group in 2011.

Tom Whelan handles domestic and multi-jurisdictional transactions, and is recommended for his meticulous eye for detail and business-driven approach.

This team has a presence in both the venture capital and buyout markets, advising on domestic mid-market deals; it also has a strong reputation in real estate private equity. Recent highlights include advising SAV Credit on its £472 million acquisition by Värde Partners. The team's international presence is also highlighted as a strength. On the venture capital side it advises on later-stage investments and buyouts.

KEY INDIVIDUALS Peers routinely describe practice leader Adam Greaves as "excellent." He advises on a broad range of private equity issues, including later-stage venture capital investment.

This US private equity powerhouse has one of the strongest international brands, acting for the likes of Bain Capital, TowerBrook and Sun Capital. The team recently lost the much-admired Jim Learner, but continues to impress interviewees. It is known as a market leader on fund formation, and its transatlantic capabilities are much in demand. It is "spectacular on client service," with one client adding: "The team does a fabulous job of balancing technical legal advice with relevant commercial advice, and helps determine a reasonable solution." Headline transactions for the practice include advising Bain on its EUR2.3 billion acquisition of Securitas.

KEY INDIVIDUALS Practice leader Graham White is a practitioner well known in the market, and earns widespread praise for his successful London practice.

Gavin Gordon is a "star of the future" who continues to thrive at Kirkland & Ellis. He led the team that advised Vista Equity Partners on its acquisition of Thomson Reuters' risk management software business.

New entry Sam Pakbaz  led on the big-ticket Bain- Securitas deal, and is an absolute favourite amongst clients: “He was a superstar on the corporate side – he was incredible in putting clients at ease and getting things pushed through,” said one, while another admired the way that “he is able to get into a businessperson’s head.”

With leverage becoming scarcer, Latham & Watkins's private equity practice benefits from the firm's first-class high-yield practice, and from its ability to deal with the financing of transactions through a bank and bond mix. It has close relationships with a range of top funds, including AXA, Charterhouse, KKR and Carlyle. Sources also note the strong Nordic practice in the London office, which has close relationships with Nordic Capital.

KEY INDIVIDUALS Peers highlight Michael Bond as a "really strong lawyer." He acts for US and European companies on a range of investments. 

Graeme Sloan led the team that advised KKR on its USD1.12 billion acquisition of UK-based Capital Safety Group.

Managing partner Nicholas Cline is recommended for private equity transactions involving Middle Eastern clients and has worked with the State of Qatar, the Qatar Investment Authority and Qatar Holdings.

David Walker recently joined the practice from Clifford Chance. He is highlighted by clients and peers alike for his "pragmatic and commercial manner" and previously led on matters for clients such as Carlyle, Equistone Group and Warburg Pincus.

This exceptional corporate practice is an important player in the private equity market, providing clients with "outstanding global skills" and cutting-edge cross-departmental advice. TPG Capital, Bridgepoint, Terra Firma and Carlyle are some of the major names on the client roster. Peers and clients respect the young team as being "energetic, dynamic and ruthlessly client-driven, with the backing of a fantastic firm." One of the practice's key deals was assisting HgCapital with the £153 million recommended cash offer for Group NBT.

KEY INDIVIDUALS Private equity co-head Ian Bagshaw is widely liked and admired by peers, who consider him a leading figure in the private equity market. 

Richard Youle's "balance of technical legal ability and commercial drive" make him a popular choice for complex transactions. He advised HgCapital on the combined acquisition of the Iris Software Group and Computer Software Group.

Clients are consistently impressed by Carlton Evans's "knowledge of the relevant legal points, delivery of work and extensive experience working with private equity funds." Of late he has advised TPG, Apax, Nordic Capital and Capio.

Recently made partner, Alex Woodward is one of the brightest up-and-comers in the market. He is "sensible and easy to work with." 

Macfarlanes is principally known for its fantastic fund formation practice and its activities in the mid-market. It provides "real strength and depth" in this area, and its partner-led and client-focused service is much admired. The 33-strong team advises sponsors, secondaries houses and management teams, amongst others, with key clients including Graphite, Darwin and Lexington.

KEY INDIVIDUALS Ian Martin is noted for his long-standing private equity experience. He recently advised Graphite on the acquisition of Protocol Education from Bridgepoint Capital.

Head of corporate Charles Meek is well respected by peers for his solution-focused approach. He notably advised Duke Street Capital on its tertiary buyout of Wagamama.

Senior partner Charles Martin has taken on a more managerial role but remains a source of important strategic advice for the team.

Kevin Tuffnell is another senior member of the team, with vast experience in the corporate and private equity fields.

Howard Corney covers a wide range of M&A work, with a particular focus on cross-border M&A and private equity mandates.

Marriott Harrison's 19-lawyer venture capital practice is "excellent, efficient and thorough," and typically acts on early-stage deals. Over the past year, it has handled a range of transactions for prominent venture capital houses including Sovereign, Matrix and Beringea. 

KEY INDIVIDUALS Duncan Innes is singled out as a "solid lawyer" in this field, who knows his way around venture capital transactions. He also advises on private equity buyouts.

Since publication, Dee Sian has joined Keystone Law

This "customer-focused" team has a strong reputation for early-stage venture capital deals, especially those run from the firm's Cambridge office. It attracts a considerable flow of instructions through its proximity to the Cambridge Angels network and the firm's expertise in the technology sector. It advised Metalysis on a syndicated investment round that raised ��10 million from existing investors.

KEY INDIVIDUALS Venture capital head Zickie Lim's key attributes are "speed, imagination and the ability to help lead transactions," say sources.

Nabarro has a fine reputation for lower mid-market domestic private equity and venture capital mandates. Observers are impressed with the firm's partner-led client service and commercial approach to transactions. Its venture capital work focuses on seed and early-stage investments, acting for both funds and investee companies. Highlights include acting for Cherrygood on an investment in the company.

KEY INDIVIDUALS Clients rate venture capital head Andrew Wigfall's "commercial awareness, experience and friendliness." He recently advised Accel Partners and Mangrove Investments on a £30 million Series C investment in online fashion retailer Kupi.

Olswang's fantastic reputation in the life sciences and technology fields extends to related venture capital and private equity transactions. Sources admire its "high levels of partner commitment to the client and strong commercial skills," and the team attracts its fair share of investors, management and portfolio deals. Clients include mid-market houses such as ISIS Equity Partners, Better Capital and Lyceum Capital. On the venture capital side the team has acted for MVM Life Science Partners and Abingworth on a £13 million subscription for shares in Lombard Medical Technologies.

KEY INDIVIDUALS Venture capital specialist Stephen Rosen stands out for his "tenacity and ability to think through complex legal issues to deliver a practical solution." 

Department head Fabrizio Carpanini is a prominent name in the domestic mid-market, and advises UK and US clients investing in the UK and continental Europe.

Chris Mackie is another well-known practitioner who advises on the private equity side. He advised Attenda Group Holdings on Darwin Private Equity's MBO of Attenda.

Market observers say Duncan McDonald has "strong transaction project management and team leadership skills," ensuring the smooth progress of transactions. 

This global firm's presence in the venture capital area stems from its dominance of the Silicon Valley and US market, making it a compelling choice for investors. It has a strong international network in this area, and on-the-ground capabilities in other key markets, including the UK and Germany.

KEY INDIVIDUALS US and UK-qualified Chris Grew has extensive experience in the venture capital field, with specialised knowledge of technology companies, especially in the internet, computer software and hardware areas.

Osborne Clarke is a strong domestic contender, combining an impressive regional practice with private equity expertise in the technology area. Cloud computing and gaming are two current areas of focus for the team, where it has advised on both seed investments and later-stage work. Clients say the digital media team and its skills in acting for software gaming companies are "first-class." Recent work on the private equity side has involved several MBOs, such as that of SPTS Technologies UK, where it acted for both the management and the purchasing vehicle.

KEY INDIVIDUALS Mike Turner is recommended for his "incredible knowledge of the sector and both sides of the investment dialogue," and for his "strong attention to detail." He has a strong practice in digital media.

Greg Leyshon handles a broad range of issues in the private equity world, from full buyouts to early-stage investments and seed capital issues.

Reading-based Robert Wood is one of the standout names of the practice, known for his "responsiveness and commercialism."

Alisdair Livingstone has recently advised on several MBOs, including leading the team on the SPTS Technologies MBO. Observers note his ability to "simplify complexity."

Matthew Lewis acted for the management of Wireless Logic on its buyout by ECI.

This "exceptionally responsive" team is highly active in the domestic private equity field, and has started to expand its international presence, with Asia being a growing target market. The firm is increasingly strong in the venture capital area, especially in technology-related matters. Clients appreciate the team's "fantastic grasp of the documentation as it evolved through the deal." The group acts for an impressive number of mid-market funds, including H.I.G. European Capital Partners, ISIS Equity Partners and 3i Growth Funds.

KEY INDIVIDUALS Andrew Masraf has a solid reputation for mid-market private equity work, and attracts praise for his highly commercial service.

The private equity practice at this US firm is simply "brilliant," according to peers. The workload is dominated by the firm's very close relationships with KKR and Blackstone, with highlights include closing the Blackstone Group’s USD995 million acquisition of Jack Wolfskin in August 2011. The group's ability to advise across various jurisdictions, especially the USA and China, combined with its "fantastic finance offering" in London, make it a real force in the market.

KEY INDIVIDUALS Adam Signy covers a range of work including private equity and M&A, and is "a great brand and an absolute class act" in both. He earns significant praise from peers: "He is phenomenal, a brilliant lawyer."

Michael Wolfson leads the firm's work for Blackstone, and advised the fund on its £385 million sale of Intelenet.

Derek Baird is a "big competitor," according to peers, who see him as a skilled lawyer in this field. He acts for a range of private equity houses, including Apax and Charterhouse.

SJ Berwin has a fine reputation for both buyouts and venture capital mandates, with later-stage venture capital work being especially notable. Despite the recent departure of respected practitioner Perry Yam, the venture capital practice remains one of the best-known in the market. The firm also stands out for the strength of its fund practice, which is seen as top-flight in the market. Clients include Duke Street Capital and Lion Capital, which it advised on the £215 million secondary buyout of Wagamama.

KEY INDIVIDUALS Ylan Steiner is fantastic on venture capital deals with a technology twist to them, where his background in the industry comes to the fore.

According to sources, the "excellent" Steven Davis has "a great handle on transactions so he knows everything that is going on in our matters."

Managing partner Rob Day continues to be well regarded for his corporate expertise.

Richard Lever has extensive experience in advising private equity houses and management teams on buyouts, buy-ins and public-to-private transactions within the UK and internationally. He advised Lion Capital on its acquisition of AllSaints. 

Timothy Wright frequently acts for Duke Street Capital, which he recently assisted during the acquisition of a majority stake in the Parabis Group, and thus the latter's Cogent Law and Plexus Law, the first acquisition of a law firm by a private equity house.

Skadden continues to be busy, thanks to its excellent relationships with several leading US funds. Doughty Hanson remains the firm's biggest client, for which the team recently acted on its £250 million acquisition of gas and logistics company ASCO. The group's reputation in Europe is equally strong, and it offers clients a seamless multi-jurisdictional service across its various European offices. Interviewees appreciate its "clear, robust, simply communicated legal and commercial advice on complicated issues."

KEY INDIVIDUALS Allan Murray-Jones "remains outstanding in terms of rapid, proactive, sensible advice and the ability to condense details to the essential commercial core." He leads on many of the firm's key deals in this area.

This magic circle firm has a fantastic corporate department, enabling it to provide high-quality advice on complex private equity transactions. The practice is able to draw upon expertise within the firm's other departments as well as its offices in Brussels, Hong Kong and Beijing. It has an "understanding of which points to push and which ones to let go of," according to observers.

KEY INDIVIDUALS Jeffrey Twentyman is a "well-known practitioner" in this field.

With offices in London, Birmingham, Leeds and Manchester, Squire Sanders is well equipped to deal with domestic private equity transactions. The 30-strong group advises lower to mid-market UK-based private equity houses on investments, MBOs and MBIs and secondary buyouts, amongst other matters. Fund clients include ECI Partners, Sovereign Capital and ISIS Equity Partners.

KEY INDIVIDUALS Leeds office head Jonathan Jones has particular expertise in the private equity area, covering buyouts and MBOs as well as corporate finance issues.

Despite the tough economic environment Stephenson Harwood has made inroads into both the buyout and venture capital markets. The 18-lawyer practice has had a busy year advising on deals in a range of sectors, including education and shipping. Its well-developed Middle East practice continues to attract instructions, and regularly works with Saudi and Emirati investors. On the venture capital side the team is active in the technology sector, especially on late-stage transactions. It advised the management of Boxclever on its sale by Cerberus and Fortress Investment Group to Weight Partners.

KEY INDIVIDUALS Elizabeth Field "does a great job, providing practical, well thought-out advice in a timely fashion on some complex issues." She led on the buyout of LOVEFiLM's remaining shares by Amazon.

Taylor Wessing's competitors acknowledge it is "an obvious choice on the venture capital side," handling everything from start-ups to fully-listed companies, especially in the technology, consumer products and healthcare sectors, mostly out of the firm's Cambridge offices. On the buyout side the team is increasingly focusing on international work, and continues to build upon established relationships with mid-market private equity houses including Rutland Partners, Electra Partners and GCP Capital Partners.

KEY INDIVIDUALS David Mardle leads on the majority of the firm's venture capital deals, and is described as "exceptional" and a "standout name in the area." He advised Worldstores on its £8.5 million investment from Advent Venture Partners and Balderton Capital. His practice is based in Cambridge.

Venture capital practice head Simon Walker is a "doyen of the industry" who is very well known in both the private equity and venture capital space. He is commended as a "very good technical lawyer."

Howard Palmer acts on the private equity side, where he is seen as a "technical and extremely smart" practitioner.

London-based Martin Winter is a hugely experienced private equity lawyer who has "great personality and drive." He advised BSG Resources on the disposal of its entire holding of Bateman Engineering to Tenova.

Private equity partner Emma Danks is seen as one of the up-and-coming stars of the Taylor Wessing practice. She has wide-ranging experience in domestic and cross-border transactions.

James Goold  joined the team from Jones Day. He acts on mid-market MBOs and LBOs. In 2011 he advised Alcuin Capital on the disposal of Glide Technologies, and acted for the Cabot Financial management team on a tertiary buyout by Anacap.

This well-developed private equity practice has a sterling reputation for its work on buyouts, often representing management teams in headline transactions. The "well-disciplined and large team" is "very strong on the management side," with highlights including acting for RAC's management on its £1 billion sale to Carlyle. On the buyout side, the team acted for Exponent Private Equity on its £145.8 million acquisition of Pattonair from Umeco. Sources say that "you can never go wrong" with the firm's nine-partner team. Other prominent clients include Bridgepoint and 3i.

KEY INDIVIDUALS Chris Hale is marked out as a leader in this field through his "ability to remain calm under pressure, manage difficult counterparties and think clearly with sensible advice." Another peer confirms: "He is extremely good and deserves his top ranking." 

Paul Dolman is "one of the partners of the future" at Travers Smith and is highlighted for his commerciality and ability to cut through problems and achieve solutions.

Head of private equity Philip Sanderson is an "excellent and high-quality performer." He led the team advising Exponent on the significant purchase of the BBC magazine portfolio.

Edmund Reed's past experience in the private equity world is much appreciated by clients. His recent highlights include acting for ECI Partners on the buyout of CarTrawler.

On a slightly more junior level, Helen Croke impresses sources as someone who is "extremely good" and "will go up the rankings."

Ian Shawyer is another promising lawyer at Travers Smith, and is tipped to go very far.

Private equity is one of the key focus areas for this US giant, and its excellence in this field clearly shows. The team handles the full range of matters, including highly complex and multi-jurisdictional mandates, and is highly rated for its abilities across the US-UK nexus. It has been busy of late working with Asian and US investors keen to take advantage of UK-based assets. The firm continues to build on its relationships with key clients, which include OMERS, Avista and Advent, strengthening its position at the top of the market. Recent standout matters include advising one of the parties in a consortium that acquired EMI Group’s music publishing operations for USD2.2 billion.

KEY INDIVIDUALS Marco Compagnoni is widely respected for his long-standing experience in the field, and for his work with Advent and TowerBrook. Peers say: "You can't go much better than him for jumbo buyouts." A client adds: "He gets all the nuances and the issues in the private equity area."

Managing partner Michael Francies is acknowledged as a "tremendously commercial and pragmatic lawyer" who "has seen it all and knows things inside out."

Jonathan Wood led on HgCapital's acquisition of Finland's largest social care company, Mainio Vire Oy. He is praised as "commercial, a strong negotiator, balanced, with great attention to detail."

Corporate associate James Harvey has impressed clients, one of whom noted: "He knew what he was doing, really making the process streamlined."

This compact Oxford-based venture capital boutique is known for its work with early-stage funds and seed investments. This specialist practice is wholly focused on the technology sector, often working with US and joint US/UK funds. Its "effective mix of eye for detail and commercial judgement" has proven popular with entities such as Mantis Deposition Holdings and Delta Economics.

KEY INDIVIDUALS Phil Riman is recommended for "his extensive deal-doing experience, his robust negotiation on key points and his ability to see the wood for the trees."

White & Case's fantastic network coverage throughout Europe and its excellent reputation for private equity on the continent make it an attractive choice for investors. The team is best known for large-scale buyouts involving cross-border elements.

KEY INDIVIDUALS Head of corporate Ashley Ballard is the main contact.