Reputation Management and Big Law: Kirkland & Ellis Moved Fast, Speculation Where Paul Weiss Is Heading
"Kirkland & Ellis advised Apollo (NYSE: APO) in connection with the sale of Broad Reach Power, a Houston-based company specialized in battery storage, to French multinational utility company ENGIE, by co-investment partners Apollo, EnCap, Yorktown Partners and Mercuria Energy." - Posted on Kirkland & Ellis website, August 24, 2023
This was not a new client for Kirkland & Ellis. In November 2021 it had advised Apollo in acquiring a 50% stake in Broad Reach Power. For several years Apollo has been a major client for Paul Weiss.
As many watchers of the intensified competition between Kirkland & Ellis and Paul Weiss know, the latter recently raided the rival's London and Los Angeles offices. However, Kirkland & Ellis did not allow those optics to dominate for long. As Law.com reports it has been restocking its London Office.
This rapid move by Kirkland & Ellis goes back to the fundamental in reputation management: It's not what happens to you it's how you handle it. In coaching former employees from Kirkland & Ellis I have found out how relentless the firm is. Depend on it to win.
Obviously, the buzz about both law firms has increased because of these recent developments. Most engaging is when the combatants are formidable players but unequal in raw resources. Kirkland & Ellis is, in lawyer headcount, three times the size of Paul Weiss
There has been speculation on professional anonymous networks such as Reddit Big Law and Fishbowl Big Law that Paul Weiss is positioning itself to be the Next Kirkland & Ellis. That's possible.
In what is essentially a down market in Big Law Paul Weiss keeps getting new high-profile business. For example, it had advised Roark Capital in the acquisition of Subway. Its long-time chair Brad Karp could imprint himself on the legacy of Paul Weiss in the same ways that the iconic Judge Simon H. Rifkind and Arthur Liman had.
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