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Weil Gotshal & Manges has won the battle to hold on to star funds associate Stephen Fox after a secondment at private equity house Apax Partners threatened to stall his move from Clifford Chance to the US firm.
Fox is set to join Weil and is already listed as a corporate associate on the US firm’s website.
He was tipped for partnership at Clifford Chance before quitting the magic circle firm along with three funds partners and a tax partner. His departure dashed the hopes of those who saw him as the man to rescue the magic circle firm’s funds practice.
Weil said Fox was still on secondment at the private equity giant, which is one of Clifford Chance’s key funds clients, but declined to comment further.
Fox, who has been seconded to Apax on and off since last year, said he was set to join Weil “in due course”.
A source close to the matter said Fox was expected to return from the secondment before the end of the year.
Tax partner Jonathan Kandel is the only partner to have started at Weil following the groundbreaking raid in June, after being released by Clifford Chance earlier than funds partners Ed Gander, Nick Benson and Nigel Clark, who are understood to be joining the firm in December.
Apax general counsel Simon Cresswell declined to comment.