Clifford Chance has raided Lovells’ German practice for a five-strong private equity team.
Lovells head of German private equity Oliver Felsenstein quit the firm this morning (20 September) to move to Clifford Chance’s Frankfurt office. Felsenstein is taking a team of four associates with him.
Clifford Chance Frankfurt head Christopher Kellett told The Lawyer: “We have a strong practice here. It’s a busy market and we see scope for expansion.”
Clifford Chance’s German private equity team numbers 12 partners over three offices.
The departure of Felsenstein will come as a blow to Lovells, which has been making efforts to consolidate its European corporate practice.
Felsenstein, a former German managing partner, is understood to be one of the biggest billers in Germany and the firm’s highest-profile corporate partner. His clients at Lovells have included HG Capital and Terra Firma.
Joachim Habetha will be taking over from Felsenstein as head of Lovells’ German private equity practice.
A Lovells spokesperson confirmed Felsenstein’s departure but declined to comment further.