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UK - Legal Services Bill presents new opportunities for private equity?

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Last week's Legal Services Bill could lead to law firms receiving private equity investment, according to a report from The Lawyer.com. Taylor Wessing has become the first firm to reveal that it is considering selling an equity stake to private equity. Private equity funds could help it finance its plans for new offices.

Noble & Co, the Scottish investment bank, has taken the lead and is currently in discussion with six mid-market law firms about the possibility of outside investment or IPOs, however, director of the Noble financial institutions team, Alasdair Robinson, admits that despite wide interest from law firms, 'it is going to take someone quite enterprising to make that first jump."
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