Shearman & Sterling sets up European PE practice

The US law firm has appointed two former Freshfields Bruckhaus Deringer lawyers to help develop its European private equity practice.

International law firm Shearman & Sterling has announced plans to grow its presence in European private equity with the appointment of two former Freshfields lawyers based at the firm’s London offices.

Shearman has appointed financial services lawyer Barney Reynolds, and fund management and private equity transactional lawyer Tom Price who join the firm as Counsel and Senior Associate respectively.

At Freshfields, Price was responsible for deal origination and execution for many of Europe’s biggest private equity firms and financial institutions. At Shearman, he will also be responsible for building the firm’s institutional investment funds practice in the UK, helping to set up private equity and buyout funds.

Reynolds will be responsible for legal and regulatory issues relating to financial services and the financial markets, particularly in the context of banking, domestic and cross border securities trading and fund management.

“Initially we will look to assist existing clients with their private equity activity,” says Price. “Most of the firm’s private equity activity currently stems from its US client base. We will need to be innovative to attract new clients within the European private equity market.”

The firm, which has made five senior appointments from leading London firms in the past two years, plans to make further appointments to the practice to reflect the firm’s increased activity in the asset class.