A&O Shearman's global fund finance co-head joins Weil Gotshal as the firm records 17 partner departures so far in 2026
A&O Shearman has lost its global fund finance co-head to Weil Gotshal, in one of the most significant lateral moves in the London market this year. The departure is the latest in a series of high-profile exits from A&O Shearman — the merged firm formed from the combination of Allen & Overy and Shearman & Sterling — which has now recorded 17 partner departures so far in 2026, according to Law.com Compass tracking data. Fund finance — a practice area covering subscription credit facilities (short-term loans to private equity funds secured against investor commitments) and other lending structures used by private capital managers — has become one of the most contested battlegrounds in the London lateral hiring market, as demand from private equity and private credit fund managers continues to grow rapidly. Weil Gotshal has declared fund finance a strategic priority, and the hire of a practice co-head from one of Magic Circle's largest merged rivals is a direct statement of intent. The broader London lateral market remains volatile, with Kirkland & Ellis and Paul Hastings also frequently involved in partner-level moves, reflecting the sustained appetite of US firms to build out London practices in high-growth transactional areas.
Why this matters
The departure of a practice co-head at this level reflects the intense competition among US firms to capture London's fund finance market, which has expanded dramatically alongside the growth of private equity and private credit. For A&O Shearman, losing 17 partners in six months raises questions about the post-merger integration challenge: retaining talent across a newly combined firm is notoriously difficult, particularly where US firm competitors can offer superior compensation. For Weil Gotshal, the hire directly strengthens a declared strategic priority at a moment when fund finance mandates are growing in volume and complexity. The London lateral hiring market remains a live story for law students targeting City firms, as it shapes which practices have the capacity and the talent to handle the largest mandates.
On the Ground
On a fund finance matter — such as a subscription credit facility for a private equity fund — a trainee would manage the CP (conditions precedent) checklist, coordinate the review of security documents (typically a pledge over investor commitments), and assist with the drafting and execution of drawdown and utilisation requests on behalf of the borrower.
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“What is a subscription credit facility in the context of private equity fund finance, and why has this practice area become so competitive in the London lateral hiring market?”
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