Hey, just going to post my answer to the first question in response to this. Would appreciate to hear people's thoughts on what went wrong, would be helpful for the next cycle
Paul, Weiss maintains its competitive advantage in three key ways.
Firstly, the firm attracts top-tier talent in practice areas crucial to successful private equity (PE) transactions, such as debt finance and mergers and acquisitions (M&A). High-profile lateral hires such as Neel Sachdev and William Aitken-Davies have been recognised by the IFLR1000, with Sachdev acknowledged as a ‘market leader’ and Aitken-Davies as a ‘notable practitioner.’ These ‘Galáctico’ hires led Paul, Weiss during KPS Capital’s €3.5 billion acquisition of Innomotics from Siemens. Moreover, this commitment to securing the best talent extends internationally; for example, the firm leveraged its ‘best friend’ relationship with Gleiss Lutz in this transaction.
Secondly, this talent is heavily invested in across all levels of seniority. The M&A team has established mentoring pods, comprising two partners and eight associates, providing a channel for guidance. This will extend to the inaugural cohort of ten trainees, with Christopher Sullivan emphasising that mentoring junior lawyers is crucial, as they represent the firm’s next generation and are essential to its organic growth. Notably, what sets Paul, Weiss apart is its holistic approach to development, which goes beyond legal skills. The firm offers monthly coaching sessions in writing and public speaking, with Neel Sachdev benefiting from the latter. Overall, such investment produces highly skilled lawyers, maintaining the firm’s competitive advantage.
Finally, Paul, Weiss offers an excellent client service. At the Paul, Weiss Open Day, Arun Sohan-Pall highlighted the firm’s lean, carefully curated teams that consistently deliver excellence. He contrasted this with his previous experience at a larger US firm, where the quality of service was less guaranteed. Paul, Weiss has a distinctive approach to lawyering, characterised by short, crisp, commercial advice from small, responsive teams.