Law.com - Private Equity Firm First to Openly Target Legal Services in U.K.

Law.com - Private Equity Firm First to Openly Target Legal Services in U.K.
This is not possible yet, if ever, in the US, but it is possible in some parts of the world, including Australia and the UK. It is interesting that the private equity firm is targeting mid-tier firms. You might argue that, while these firms have more growth potential than some of the mega firms, they are probably not as well managed, do not always have the best client bases, and may not be able to break through to the mega firm level within a reasonable time. Also, helping a mid-tier firm develop a new practice area seems to be a very risky investment, unless there is a core group of clients to which the firm could successfully market these services. Time will tell, of course, if non-lawyer investment in law firms is a good idea or even a workable idea. This is something we need to watch closely to see what lessons, if any, can be gleaned from the experience.