Real estate investment fund Ashby Capital has recruited a former Berwin Leighton Paisner corporate associate Tom Hill as in-house legal counsel.
Hill worked in M&A and capital markets as well as private equity and corporate work after training at Slaughter and May.
He joins the £1.5bn investment advisory vehicle established by former Heron International directory and property director Peter Ferrari which launched in June this year.
The fund targets prime real estate in the city and focuses on identifying, acquiring and adding value to office, retail and residential properties across Central London.
Hill’s departure comes on the heels of a period of exits from BLP. Last month the firm lost private equity heavyweight Raymond McKeeve, who moved to Jones Day (20 August 2013), followed by contentious tax head Liesl Fichardt who left to join Clifford Chance in September (4 September 2013) and longstanding head of the information law unit, Adam Rose, who left for Mishcon de Reya (2 September 2013).
A raft of redundancies was also announced in May this year, when the firm launched a consultation which it said would affect about 58 legal staff and 44 secretarial staff (14 May 2013).
BLP’s revenue fell by 5 per cent in 2012/13, from £246m to £233m. It is yet to announce its net profit or average profit per equity partner (PEP) (19 July 2013). In 2011/12, turnover rose 10 per cent from £229m to £246m. However, PEP dropped by 7 per cent over the same period, from £712,000 to £660,000.