Cleary Gottlieb commits to London with a seventh partner hire in 2026 as the firm deepens its Global Funds practice ahead of a strategic expansion in European private capital
Cleary Gottlieb has announced that David Christmas will join its London office on 5 May as a partner in its Global Funds practice — the firm's seventh partner hire in London so far in 2026. The hire follows a record-breaking 2025 in which the firm promoted and laterally hired a combined 41 partners globally across corporate, funds, capital solutions, antitrust, and litigation practices. Christmas's hire is framed by the firm as part of a deliberate strategy to expand European private capital capabilities. Cleary's Global Funds team holds a Band 1 ranking for fund formation in the US by Chambers, and has advised on funds with aggregate commitments exceeding $500 billion over its 30-year history. The London hire is designed to extend that platform into European fund formation, as asset management clients increasingly diversify strategies across private equity, credit, real assets, and secondaries markets. The appointment is overseen by London partner and Executive Committee member Tihir Sarkar, with the European funds offering led by Mike James in London. Cleary has operated a London office since 1971 — one of the first US firms to establish a permanent UK presence — and the office focuses on M&A, finance, capital markets, disputes, and competition work with a strong cross-border European mandate. The broader context is a sustained lateral hiring wave at elite US firms across the City, driven by competition for European private capital mandates as private equity and credit fund formation volumes grow.
Why this matters
Cleary Gottlieb's seven London partner hires in under five months signals an accelerated expansion strategy at a firm traditionally known for its lean, organic growth model. The focus on Global Funds reflects where deal flow is concentrated: as private equity houses and credit managers raise increasingly large European vehicles, fund formation lawyers — who document the limited partnership agreements, side letters (bespoke terms negotiated with individual investors), and regulatory filings — are in high demand. The 'why now' is structural: European private credit has expanded dramatically, with managers diversifying beyond traditional private equity into credit, real assets, and secondaries, each requiring specialist fund documentation. For law students, this illustrates how US firms are competing directly with Magic Circle practices for the top tier of European funds work.
On the Ground
A trainee seconded to a Global Funds team would be drafting and marking up limited partnership agreement schedules, preparing regulatory filing coordination memos for FCA fund authorisation applications, and reviewing side letter precedents for investor-specific terms negotiated in connection with a new fund closing.
Interview prep
Soundbite
Seven London partner hires in five months at Cleary signals US firms are moving from opportunistic to structural competition for European private capital mandates.
Question you might get
“What are the key legal documents a funds lawyer would draft when forming a European private equity fund, and what regulatory approvals would be required in the UK?”
Full answer
Cleary Gottlieb has hired its seventh London partner of 2026, focusing its Global Funds practice on European private capital — a direct play for a market that has grown substantially as asset managers diversify into credit, real assets, and secondaries. For City lawyers, this matters because it intensifies competition between elite US firms and Magic Circle practices for the top tier of fund formation work, which is a high-margin, relationship-intensive practice. The wider trend is the institutionalisation of private capital in Europe: larger fund sizes, more complex investor structures, and greater regulatory scrutiny from the FCA are all driving demand for specialist legal advisers. Cleary's investment in London suggests it views European private capital as a durable growth driver rather than a cyclical opportunity.
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