By Benjamin Horney
DLA Piper announced last Thursday that it’s adding a group of nearly 30 private equity attorneys, including more than five partners, all of whom come from Honigman LLP, in a move that’s part of the firm’s push to entrench itself as a premier player in the middle market.
The private equity practitioners are all joining DLA Piper’s office in Chicago, according to a statement. The group is highlighted by partners Harris Eisenberg and Alex Plakas, and includes partners Nathan Wilda and Drew Rosenberry, plus “several other partners.” In addition, the firm is bringing in roughly 20 other PE-focused lawyers, ranging from junior associates to counsel, and in total it will be bringing on board approximately 27 attorneys in the coming days and weeks.
When taking into account the new hires, DLA Piper now employs around 35 partners and a total of about 100 lawyers who focus specifically on private equity.
A partner and US vice chairman for DLA Piper, Joe Alexander told Law360 that the group fits in perfectly with the firm’s objectives, which include growing its middle-market private equity practice and increasing its expertise in areas like health care and technology.
“From our perspective, there aren’t many opportunities out there to bring in a group of this size that fit what we do,” he said. “We based this decision on where we are already strong. It’s not just a matter of picking things out of thin air. You pick things you are already strong at and want to become dominant in.”
The former Honigman lawyers come with a ton of collective experience advising private equity funds and their portfolio companies in complex transactions, especially middle-market, ones according to DLA Piper’s statement. Their experience lines up with the kinds of deals the firm typically works on, Alexander said, which range from low eight figures to more than US$1 billion.
Though he wouldn’t comment on any specific clients that the group is bringing with them, Alexander noted that, for DLA Piper, forming new client relationships is part of the plan.
“We know a lot about their practice, and we fully expect their clients to fit in with our existing client base,” he said.
Recent private equity matters that DLA Piper has advised on include a US$100 million Series C funding round for digital commerce company OSF Digital, announced April 13, as well as a US$215 million investment procured by cybersecurity startup Critical Start, announced April 12, according to the firm.
It’s a big splash for DLA Piper, but the firm does not intend to slow the pace of its private equity additions, with Alexander saying to expect more major hires going forward.
“Absolutely we’re looking to add more talent,” he said. “We view this as the first of hopefully many moves in the space.”
A spokesperson for Honigman told Law360 last Friday that “we appreciate the contributions of these Chicago PE attorneys and wish them well.”
“Honigman has enjoyed record growth in recent years,” they added. “We have an extraordinary private equity and corporate practice with a deep bench of talent, so we remain well-positioned across the firm and in Chicago. We will have departures just like we will have arrivals. In today’s highly competitive environment, it is simply the nature of the beast for the legal industry.”
Additionally, Honigman noted it continues to actively recruit “top lawyers to support our corporate, private equity and transactional practice areas, continuing on a path we’ve charted with the nearly 80 hires made over the previous 18 months.”
–Editing by Adam LoBelia.
* Editor’s Note: This story has been updated to include comment from Honigman.
