Gibson Dunn Hires Weil Gotshal Private Funds Team: 120 Lawyers Join

• Gibson, Dunn & Crutcher is acquiring a 120-lawyer private funds group from the dissolving Weil, Gotshal & Manges.
• The incoming team includes co-managing partner Jonathon Soler and 23 partners, starting in January across New York, Washington, D.C., and London.
• Weil Gotshal's partners voted earlier this week to wind down the 95-year-old firm, following an October 28 leadership recommendation.
• Other major firms, including Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom, are also hiring lawyers from Weil Gotshal.
• Shukie Grossman, Gibson Dunn's global chair of investment funds, called the team "the most sought-after cross-border funds team in the market."

This substantial group, which features co-managing partner Jonathon Soler, is slated to commence work at Gibson Dunn in January.

Gibson, Dunn & Crutcher has secured a significant portion of Weil, Gotshal & Manges' private funds practice, a move that includes the acquisition of 120 lawyers. This substantial group, which features co-managing partner Jonathon Soler, is slated to commence work at Gibson Dunn in January. The incoming team comprises 23 partners and will be distributed across key legal markets including New York, Washington, D.C., and London, marking a major expansion for Gibson Dunn's capabilities in the private funds sector.

Shukie Grossman, who chairs Gibson Dunn’s global investment funds practice, emphasized the strategic importance of this acquisition. Grossman described the incoming professionals as "the most sought-after cross-border funds team in the market," further stating that their arrival represents a "defining moment" for the firm's practice area. This development comes as Weil Gotshal's partners have formally voted to dissolve the firm, making its talent available to rival firms as it winds down.

The acquisition by Gibson Dunn is part of a broader scramble among leading law firms to absorb legal talent from the 95-year-old Weil Gotshal, which is in the process of winding down. Several other prominent firms have also announced or confirmed the hiring of Weil Gotshal lawyers in recent days. Kirkland & Ellis, for instance, disclosed last week that 40 lawyers, including private equity partner Ramona Nee, are set to join its ranks. Nee had previously been positioned to lead Weil Gotshal and served as a co-managing partner alongside Jonathon Soler.

Skadden, Arps, Slate, Meagher & Flom also confirmed on Thursday the addition of three Weil Gotshal partners, building on two previous hires made before the dissolution process began. Other firms actively recruiting from the closing firm include Latham & Watkins; Paul, Weiss, Rifkind, Wharton & Garrison; Fried, Frank, Harris, Shriver & Jacobson; and Massumi + Consoli, all of whom have announced or confirmed partner hires this week. This competitive environment underscores the high demand for specialized legal expertise, particularly within the private funds domain, as firms seek to capitalize on the availability of experienced professionals through law firm wind down talent acquisition.

The influx of Weil Gotshal dissolution lawyers into other firms follows a pivotal decision made earlier this week by Weil Gotshal’s partners to wind down the firm. This vote to dissolve the long-standing institution was prompted by a recommendation from its leadership on October 28. The firm's impending closure has created a unique opportunity for competitors to bolster their practices with seasoned attorneys, particularly those specializing in private funds team moves. Jonathon Soler, a key figure in the group moving to Gibson Dunn, did not immediately provide comment when contacted by Reuters regarding these developments.

This development signals a significant shift in the legal market, particularly within the private funds sector, as a major firm dissolves and its talent disperses. Lawyers should monitor these movements for potential client opportunities, competitive landscape changes, and insights into talent retention strategies, especially concerning large team acquisitions.

Source: Original reporting via Reuters.