Private Capital Perspectives: Podcast Series
13 January 2023
What is Private Capital?
The term Private Capital has become synonymous with a broad range of interrelated sectors, including private equity, private credit, real estate, infrastructure and venture capital. These sectors and asset classes have become the cornerstone of our business and our strategy.
We are fortunate to be a trusted adviser to many of the key industry players ranging from international law firms and global fund sponsors through to banks, alternative credit providers and investors. Our holistic approach means we support our private capital clients throughout the fund life cycle.
Private Capital Perspectives
The Private Capital Perspectives podcast series is designed to give a platform to some of the leading voices in the Private Capital industry. It provides an opportunity for them to share their views on a wide range of topics and for us to learn. It also aims to get behind the technical and legal aspects of the industry and provide an insight into the people involved in it. The participants in this market are at the vanguard of the financial services industry and are some of the most talented, interesting and innovative thinkers operating in the private sector. We hope you enjoy!
We welcome your feedback so please feel free to contact us.
Alex Last | Global Practice Leader - Funds
M +1 345 925 1443
Ben Robins | Global Practice Leader - Funds
M +44 7797 820 219
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We would like to thank Richard Perris for his contribution as guest interviewer.
Richard has 20 years’ experience working as a lawyer in private markets, most recently as General Counsel at CVC, a role he left at the end of 2020.
Richard is based in New York and is currently working on a variety of projects in the private markets, involving private equity, real estate, litigation funding and digital assets.
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Episode 7:
With John O'Neil | Kirkland & Ellis
Global Head of the Investment Funds Group
Richard speaks with John O’Neil, the Global Head of the Investment Funds Group of Kirkland & Ellis. John is a recognised leader in his field, having presided over the phenomenal growth in Kirkland’s funds practice in recent years. This conversation covers John’s first career as a software programmer, his route into law and his reflections on the growth of the Kirkland practice. The discussion also covers 'Funded', a new Kirkland platform designed to automate the subscription process for investors in private equity funds, and John’s thoughts on the potential for technology to change the way funds are raised in future.
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Episode 6:
With Sophie Smith (Counsel) and Mike James (Partner) | Cleary Gottlieb
Richard speaks with Sophie Smith and Mike James, who co-head the private funds practice at the London office of Cleary Gottlieb. Sophie joined the team in 2022, and in October was named among Europe’s 25 best up-and-coming private equity lawyers by Law.com International in its Rising Stars 2022 list. In the conversation, Sophie covers the firm’s plans to grow the practice out of London, as well as her thoughts on the London funds market more generally. Sophie and Mike also address the latest trends in the private funds market, including secondaries transactions, and longer-dated and 'evergreen' funds. They also take a look to the future including discussing 'Cleary X', the firm's legal technologies and services platform.
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Episode 5:
With Jason Glover | Simpson Thacher & Bartlett
Managing Partner of the London office
Richard speaks with Jason Glover, who is Managing Partner at the London office of international law firm Simpson Thacher & Bartlett. Jason is one of the most respected lawyers in the international funds market, having represented many of the largest European private equity firms on their fundraisings, including the likes of Apax, Bridgepoint, BC Partners, Cinven and CVC. In the episode, the conversation covers Jason’s career and route into private equity, including his time in-house at Asian Infrastructure Fund and Duke Street Capital, as well as his reflections on the state of the funds market, the dynamics of negotiations between GPs and LPs, what makes a good funds lawyer, and what the future might hold for the industry and the lawyers who work in it.
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Episode 4:
With Kem Ihenacho | Latham & Watkins
Partner
Richard speaks with Kem Ihenacho, who is Global Vice Chair of Latham & Watkins’ Africa Practice and Private Equity & Investment Funds Practice. Kem Ihenacho is an M&A lawyer with more than 20 years of experience focusing on UK and international private equity, infrastructure, and M&A transactions.
The conversation covers Kem’s background and career story, his experiences doing deals in Africa, the interaction of the recent focus on ESG and African investment, the challenges that pandemic lockdowns presented for lawyer morale and work/life balance, and how technology might change M&A deal doing in the future.
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Episode 3:
With Marisa Beeney | Blackstone Credit
General Counsel
Richard speaks with Marisa Beeney, who is General Counsel at Blackstone Credit. Having begun her legal career as an Associate at Latham & Watkins and then DLA Piper, Marisa joined the credit-focused hedge fund GSO Capital Partners in 2007. GSO was acquired by Blackstone in 2008 and subsequently rebranded as Blackstone Credit.
The conversation covers Marisa’s experiences through that time as the GSO business grew and developed, how her role and responsibilities have changed over time, how the Blackstone legal and compliance team is organized, the impact of regulatory change, Blackstone’s utilization of more retail-focused structures, dealing with conflicts of interests, and “BX TV”, a pandemic-inspired internal communication tool that became the subject of a holiday video starring Reese Witherspoon!
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Episode 2:
With Leonard Ng | Sidley Austin
Member of the firm's Executive Committee and Co-Head of the UK/EU Financial Services Regulatory Group
Richard speaks with Leonard Ng, who is the Co-Head of the UK/EU Financial Services Regulatory Group at Sidley Austin. Leonard advises a wide range of global financial institutions on complex UK/EU financial services regulatory issues. He has received numerous industry accolades, and most recently was selected as one Financial News Europe’s 50 most influential lawyers.
The conversation covers Leonard’s second life as a musician (including the moment he turned down the chance to go on tour with David Gray), a critical look back at the regulation of private markets in the EU and the US since the Global Financial Crisis, a look forward at the forthcoming changes to regulation in the EU, most notably AIFMD II, the impact of Brexit and the future direction of the UK, ESG regulation, and a number of other topics.
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Episode 1:
With Ranesh Ramanathan | Kirkland & Ellis
Partner and Co-Chair of Diversity & Inclusion Committee (joined firm in 2018, co-chaired committee since 2019)
Richard speaks with Ranesh Ramanathan, a partner in the Boston office of Kirkland & Ellis. Ranesh focuses his practice on debt finance, distressed/special situations, alternative investments and credit fund transactions. He is also Co-Chair of Kirkland’s Diversity & Inclusion Committee.
Ranesh returned to private practice in 2018, after nearly 15 years in in-house legal roles with Bain Capital and Citigroup. Immediately prior to joining Kirkland, he was a Managing Director at Bain Capital and General Counsel to Bain Capital’s public markets business. Ranesh is married to Erik Ramanathan, the current US Ambassador to Sweden. The conversation covers a range of topics, including remote working, distressed credit markets through the pandemic, how to define “special situations”, the dangers of over-specialization for lawyers, the outlook for ESG, and the ongoing challenges of diversity and inclusion.
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This series was brought to you by:
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Contact us
A full list of our funds team can be viewed here.
For queries and further information, please contact either Alex Last or Ben Robins.
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About Mourant
Mourant is a law firm-led, professional services business with over 60 years' experience in the financial services sector. We advise on the laws of the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg and provide specialist entity management, governance, regulatory and consulting services.
