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BLP is in negotiations with Herbert Smith about a starting date, as De Pury needs to conclude a number of deals before leaving.
BLP made a huge splash in the real estate market with the hire of Robert MacGregor from Clifford Chance in 2005.
MacGregor is understood to be on a £1.3m package. It is thought that De Pury’s remuneration will total more than £1m.
Herbert Smith, which rarely suffers an equity partner departure, will be left with 11 real estate partners and two real estate litigators. De Pury becomes BLP’s 49th real estate partner.
De Pury has had a stellar 20-year career at Herbert Smith, with highlights including advising the Qatar government on its £107m acquisition of One America Square and its £90m refinancing in April 2005, and securing Herbert Smith’s first instruction from the Carlyle Group’s European property fund in August 2004.
More recently De Pury helped advise longstanding client Hammerson on the first real estate investment trust conversion mandate and advised the University College London Hospitals NHS Foundation Trust on its £175m sale of the former Middlesex Hospital site.
De Pury, Herbert Smith and BLP declined to comment.