The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Allen & Overy (A&O) has strengthened its relationship with Och-Ziff Capital Management, scooping a role to advise the secretive US hedge fund on a bid for headhunter Whitehead Mann.
Och-Ziff has emerged as the financial backer behind Piers Marmion, the recruitment specialist that has made a £24.5m offer for Whitehead Mann.
Och-Ziff's relationship with A&O dates back to 2005, when US sports tycoon Malcolm Glazer took over Premiership football club Manchester United. In addition to advising Glazer, the magic circle firm advised Och-Ziff and Perry Capital on their financing of the controversial deal.
Since then A&O has advised Och-Ziff and Perry Capital on the £410m management buyout of clothing retailer Peacock Group. The transaction was the UK's first-ever leveraged buyout by hedge funds.
A&O partner Andrew Ballheimer, who is leading the team advising Och-Ziff and the bid vehicle, compared the deal to a private equity transaction. "It's a classic leveraged private equity bid," said Ballheimer.
Och-Ziff is understood to be one of the most advanced in private equity investing. Other hedge funds that behave like private equity investors include Goldentree Capital and Oak Tree Capital.