Private equity – a nice little Bunsen burner

Private equity lawyers across the City keep telling Tulkinghorn that they are not as active as they were this time last year due to the credit crunch. A dreadful business.

But it is heartening to hear that the more ingenious among them are focusing their attention in other ways to keep busy.

And so it is at Ashurst, where the London private equity group has mainly been concentrating on improving its cockney rhyming slang in these quiet times.

Incorrect cockney rhyming slang, to be more precise. An example: “Get Charlie Geffen to give me a buzz on the old dog and phone.” Or: “Was that Stephen Lloyd I just saw on the apples and stairs?”What a load of old horse.