Clifford Chance mulls expansion in Turkey

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  • Turkey is a really interesting market and it looked like the private equity market was about to take off there just before the recession hit. CC could do really well by establishing a decent presence there while things are still quiet. There's bound to be private equtiy interest once things pick up again and they stand a good chance of making themselves the go-to firm for such deals,

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  • According to Turkish law, foreign law firms are not allowed to open local offices that practise Turkish law. In order to establish a presence on the ground, they need ‘working relationships’ with local firms.

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  • CC has always taken the "long view". Back in the 90's they really invested in building their CEE practice eg by sposoring students years before they were going to qualify or even be needed by the firm... just to make sure that they had a pool of local talent available to them as and when needed. This more formal/structured move into Turkey merely cements their position as one of the top finance practices for deals in Turkey. As ever, hats off to them. They will dominate that market just like they have dominated the others.

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