Weil Gotshal’s Private Equity Team Faces Dual Movement: Key Departures and San Francisco Additions

Key points

• Weil lost at least two private equity partners to Paul Weiss and two others to Simpson Thacher within two weeks, marking the second such instance in two years.
• The firm simultaneously added Jonathan Stott from Dechert and Michael Hanna from Kirkland & Ellis to its San Francisco private equity group.
• These moves bring Weil’s California private equity partner count to 20, reinforcing its presence in the Bay Area market.
• The firm’s global private equity practice advises over 300 clients, including eight of the top 10 global funds.
• The departures and additions highlight ongoing strategic adjustments in the firm’s elite practice groups.

Background

This development follows a period of significant private equity activity, including LIV Golf’s restructuring efforts and increased PE investment in utility assets. The firm’s private equity group has doubled in size under current leadership, reflecting a broader trend of consolidation and expansion in the sector.

How outlets are covering it

Law.com emphasizes the 'roiled' nature of the partner shuffle and the recurring pattern of departures, framing it as a stability issue. In contrast, Weil’s official announcement and Bloomberg Law focus on the strategic growth and market expansion in California, highlighting the additions of Stott and Hanna as positive developments. The outlets differ in tone, with Law.com questioning the firm’s retention capabilities while the others celebrate the firm’s continued investment in the private equity platform.

Why it matters

The movement of high-profile partners in a specialized practice like private equity can impact client relationships and market share. For Weil, balancing departures with strategic additions is crucial to maintaining its position as a market leader. For the broader legal industry, this reflects the competitive dynamics and talent mobility within elite law firms.

What to watch

Weil will likely continue to monitor the impact of these partner movements on its client base and practice performance. The firm may also explore further strategic investments in its private equity group to mitigate any potential losses from departures. Industry observers will watch for any further shifts in the firm’s leadership and practice structure.