Sidley ramps up funds group with Covington hire

Sidley Austin has snared a Covington & Burling London tax partner to boost the firm’s fund formation practice in the capital.

David Hinds, who joins the firm as a partner, has been brought in to help build a funds formation group in Sidley’s London office. He will also advise on tax issues on corporate transactions.

Sidley London managing partner, Drew Scott, said: “Tax is critical to every aspect of our transactional practice here in London, which increasingly includes funds related work, encompassing both hedge funds and private equity.”

Sidley’s global funds practice currently includes 88 associates, eight counsel and nine partners. Hinds move should significantly enhance the firm’s fund capabilities in London.

London-based corporate and securities partner, Thomas Thesing, commented: “We have had a pre-eminent funds practice at the firm. In some respects London has been somewhat lagging behind. David’s experience at Covington and at SJ Berwin in tax and fund formation fits very well with our team in London.”

Thesing added the firm has been focusing on building up the London tax group at the associate and partner level with the aim of strengthening its funds capabilities.

“You need tax expertise to advise on fund formation, which is heavily linked to offshore jurisdictions, especially the Cayman Islands and Luxemburg,” Thesing said.

Earlier this month (5 February), The Lawyer reported that Sidley’s London office had posted a 12.4 per cent increase in turnover, from £55.03m in 2006 to £61.87m for the 2007 financial year.