Travers Smith looks to grow PE practice in wake of Sanderson exit

Justin Cash (Legal Week)
05 September 2014

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Travers Smith's new head of private equity has said the firm is still on track to grow the practice despite corporate rainmaker Phil Sanderson announcing his departure from the firm.

Paul Dolman, who replaced Sanderson as head of the group in July, told unquote" sister title Legal Week that an increased volume of deal activity means the firm is looking to expand the number of partners in the team from the current headcount of 10.

"Our practice has been going from strength to strength and we fully expect to grow our team in the short to medium term," said Dolman. "You have to anticipate that the team might change over time. That's just natural. But we have our sights firmly set on the future, not the past."

Though Dolman expects the majority of growth to come from internal promotions, it is thought that the firm has not ruled out making a lateral partner hire.

"We have the largest bench of private equity lawyers in the City," said Dolman. "Given the strength in depth and talent we have, my expectation would be for this growth to be organic."

Travers has only made two lateral hires since 2004, the latest being Charles Casassa, who joined from Clifford Chance in 2011 to establish the firm's US securities practice.

Last week, Legal Week revealed that Sanderson would be joining Ropes & Gray's London office later this month.

Sanderson's clients at Travers included UK-focused buyout houses Phoenix, Exponent and Darwin, but Dolman said he expected his team to hold onto its current client roster.

"All our main clients have multiple partner contacts and we are very proud of the fact that our clients have been loyal to us over the years. But we are not complacent and work hard at our client relationships. The building blocks are in place to ensure the continued success of the team," said Dolman.

Travers has recently acted for Cath Kidston Group on an investment into the design company by private equity house Baring Asia, as well as securing its first mandate for new client PAI Partners on the management buyout of residential security providers Vacant Property Specialists.

This article was originally published in unquote" sister title Legal Week.