Key Takeaways
- • Massumi + Consoli, a Los Angeles-based private equity law boutique, has sold a stake in its back-office operations to Dallas-based Trive Capital through a management services organization (MSO) structure, enabling non-lawyer capital access while maintaining attorney control of legal practice.
- • The firm plans to deploy capital from Trive's investment to enhance technology infrastructure and develop artificial intelligence capabilities, addressing competitive pressures in legal service delivery.
- • The transaction exemplifies a growing trend in the legal profession where law firms establish MSOs to access private equity growth capital while circumventing state regulations that prohibit direct non-lawyer ownership of legal practices.
- • Massumi + Consoli, founded in 2015 by former Kirkland & Ellis partners Peter Massumi and Anthony Consoli, specializes in mid-market private equity transactions and has advised on notable deals including a Monogram Capital portfolio company's beef jerky acquisition and the Skillz-Beamable transaction.
- • Private equity firms have intensified investment in legal services, particularly personal injury law, driven by high profit margins from contingency fee structures and concentrated ownership models that present scalable return opportunities.
Summary
Massumi + Consoli, a boutique law firm headquartered in Los Angeles, has sold a back-office stake to Trive Capital, a Dallas-based private equity firm, through a management services organization structure. The transaction reflects an emerging strategy in the legal profession designed to unlock growth capital while adhering to state regulatory constraints that prohibit non-lawyer direct investment in law practices.
Under the MSO framework, Trive Capital will assume responsibility for the firm's administrative and back-office functions, while attorneys at Massumi + Consoli retain full control over legal practice and client matters. According to sources familiar with the transaction, the firm intends to deploy proceeds from Trive's investment toward advancing its technology infrastructure and integrating artificial intelligence capabilities. The specific investment size has not been disclosed, and neither party has publicly commented on the deal.
Massumi + Consoli was established in 2015 by Peter Massumi and Anthony Consoli, both former partners at Kirkland & Ellis, the world's most profitable law firm by virtue of its dominance in alternative investment advisory work. The firm has built a practice focused on providing comprehensive legal counsel for mid-market private equity transactions. Notable recent engagements include advising a Monogram Capital portfolio company on the acquisition of a beef jerky manufacturer and representing clients in the Skillz-Beamable transaction involving a mobile gaming platform.
The MSO model has gained traction across the legal profession as a mechanism for law firms to access institutional capital while maintaining regulatory compliance. Private equity has substantially increased its investment focus on legal services, particularly personal injury law firms, where high profit margins generated through contingency fee arrangements, consumer-facing marketing strategies, and concentrated ownership structures create attractive investment profiles. The Massumi + Consoli transaction represents another data point in this broader capital deployment trend toward legal services infrastructure.
Under the MSO framework, Trive Capital will assume responsibility for the firm's administrative and back-office functions, while attorneys at Massumi + Consoli retain full control over legal practice and client matters. According to sources familiar with the transaction, the firm intends to deploy proceeds from Trive's investment toward advancing its technology infrastructure and integrating artificial intelligence capabilities. The specific investment size has not been disclosed, and neither party has publicly commented on the deal.
Massumi + Consoli was established in 2015 by Peter Massumi and Anthony Consoli, both former partners at Kirkland & Ellis, the world's most profitable law firm by virtue of its dominance in alternative investment advisory work. The firm has built a practice focused on providing comprehensive legal counsel for mid-market private equity transactions. Notable recent engagements include advising a Monogram Capital portfolio company on the acquisition of a beef jerky manufacturer and representing clients in the Skillz-Beamable transaction involving a mobile gaming platform.
The MSO model has gained traction across the legal profession as a mechanism for law firms to access institutional capital while maintaining regulatory compliance. Private equity has substantially increased its investment focus on legal services, particularly personal injury law firms, where high profit margins generated through contingency fee arrangements, consumer-facing marketing strategies, and concentrated ownership structures create attractive investment profiles. The Massumi + Consoli transaction represents another data point in this broader capital deployment trend toward legal services infrastructure.
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