Key Takeaways
- • Freshfields Bruckhaus Deringer has lost its secondaries co-head to Debevoise & Plimpton in London, marking the latest high-profile departure in an intensifying talent war for specialist funds lawyers.
- • The move underscores escalating competition among major law firms for expertise in secondary fund investments, a growing segment of the alternative asset management market.
- • Debevoise & Plimpton's secondaries team, led by partner Krishna Skandakumar and including partner Natalia Kubik, has been actively recruiting senior talent from rivals, signaling aggressive expansion in this practice area.
- • The departure reflects broader patterns of lawyer mobility between Freshfields and US-based rivals, with the London-founded firm experiencing multiple high-profile exits across geographies and practice areas.
Summary
Freshfields Bruckhaus Deringer has lost a secondaries co-head to rival US firm Debevoise & Plimpton in London, continuing a wave of senior attorney departures from the UK-headquartered firm. The move represents the latest casualty in an intensifying hiring competition for specialized secondaries lawyers—professionals who focus on secondary fund investments, a segment experiencing substantial growth within alternative asset management.
The exit occurs amid visible friction between Freshfields and competing US-based law firms, particularly Debevoise & Plimpton, over top talent in the funds space. Debevoise's investment management and funds practice, anchored by partner Krishna Skandakumar and including partner Natalia Kubik, has been actively building its secondaries capabilities through targeted senior hires. This competitive recruitment strategy reflects market-wide demand for experienced secondaries counsel as limited partners increasingly deploy capital into secondary vehicles and secondary fund sponsors expand their platforms.
Freshfields has experienced multiple prominent partner departures in recent periods, spanning both geographic regions and practice areas. The firm has seen exits of high-profile New York partners, Italian private capital specialists, and Latin America-focused practitioners to US-based competitors. These moves suggest Freshfields faces sustained pressure in retaining senior talent despite its scale and London heritage, even as the firm pursues strategic growth initiatives in the United States.
The secondaries legal market remains highly competitive, driven by sustained capital formation in secondary funds and the technical complexity of secondary transactions. Law firms competing for market share in this space are prioritizing senior hires with deep client relationships and sector expertise. For institutional investors and fund sponsors evaluating legal counsel, the ongoing lateral movement among partners signals a fluid market where specialist expertise commands premium value and firms are investing substantially to build and retain dedicated capability in this growing asset class.
The exit occurs amid visible friction between Freshfields and competing US-based law firms, particularly Debevoise & Plimpton, over top talent in the funds space. Debevoise's investment management and funds practice, anchored by partner Krishna Skandakumar and including partner Natalia Kubik, has been actively building its secondaries capabilities through targeted senior hires. This competitive recruitment strategy reflects market-wide demand for experienced secondaries counsel as limited partners increasingly deploy capital into secondary vehicles and secondary fund sponsors expand their platforms.
Freshfields has experienced multiple prominent partner departures in recent periods, spanning both geographic regions and practice areas. The firm has seen exits of high-profile New York partners, Italian private capital specialists, and Latin America-focused practitioners to US-based competitors. These moves suggest Freshfields faces sustained pressure in retaining senior talent despite its scale and London heritage, even as the firm pursues strategic growth initiatives in the United States.
The secondaries legal market remains highly competitive, driven by sustained capital formation in secondary funds and the technical complexity of secondary transactions. Law firms competing for market share in this space are prioritizing senior hires with deep client relationships and sector expertise. For institutional investors and fund sponsors evaluating legal counsel, the ongoing lateral movement among partners signals a fluid market where specialist expertise commands premium value and firms are investing substantially to build and retain dedicated capability in this growing asset class.
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