Norton Rose has boosted its investment funds team with a raid on DLA Piper, taking on partner Michael Newell.
Prior to becoming a partner at DLA Piper, Newell spent four years at Freshfields Bruckhaus Deringer, where he specialised in hedge funds and other alternative investment products.
His arrival at Norton Rose marks a concerted push by the firm into the hedge fund sector, which is traditionally dominated by a select group of firms, including Dechert, Simmons & Simmons and Schulte Roth & Zabel.
The lateral hire leaves DLA Piper with two investments funds partners in London.
Newell, who will work closely with head of investment funds Ian Fox, said he was attracted by the firm’s financial services offering.
Fox said: “Since working on the establishment of the first UK investment trust over 140 years ago, Norton Rose has been committed to the investment funds sector.
“In the current economic climate, fund managers and independent boards are highly selective about who they instruct to advise them.”