Macfarlanes investment fund finance head Bronwen Jones is leaving the firm for Reed Smith.

Jones joined Macfarlanes as a partner in 2004 from Kirkland & Ellis, where she had been a partner in the US firm’s funds team for four years.

Prior to starting at Kirkland, Jones was an assistant solicitor at Ashurst.

As head of Macfarlanes’ investment fund finance team, Jones advised clients such as Partners Group, Syntaxis Capital and Ares Capital. She also worked with many retail banks, such as Investec, RBS, Lloyds and Citibank.

Jones will become a member of Reed Smith’s financial industry group in London. The US firm’s funds finance team in the City is led by Leon Stephenson and Nick Stainthorpe, who joined as partners from Clearly Gottlieb Steen & Hamilton and Freshfields Bruckhaus Deringer respectively.

Reed Smith’s managing partner for Europe and the Middle East Tamara Box said: “Funds finance is a growing market with a number of key players internationally, including US-based funds, operating across Europe.”

Commenting on Jones’ move, the firm also highlighted the increase of debt finance by funds and uptick in the number of banks entering the market.

Macfarlanes rarely loses partners, although departures in the last few years include competition head Marc Israel to White & Case and financial services head David Berman to Quinn Emanuel Urquhart & Sullivan. Berman then joined Latham & Watkins less than a year later.

In September last year, Kirkland partner Leith Moghli also joined Reed Smith, specialising in advising European fund sponsors and financial institutions.

Macfarlanes said in a statement: “Bronwen leaves with our best wishes – she has a great reputation in fund finance”.