Kirkland & Ellis has secured its grasp on Bain Capital Credit by seconding partner Ashley Young to fill the space left by general counsel Mark Fine.
It emerged this morning that Fine, a former partner at Kirkland who in 2014 joined Sankaty Advisors – now rebranded as Bain Capital Credit – is leaving for Willkie Farr & Gallagher.
Young, an equity partner at Kirkland who relocated to London from Hong Kong in 2014, is a long-time adviser to Bain Capital Credit and last year acted for the business on its purchase of GE Capital’s sale of its commercial lending and leasing portfolios in Australia and New Zealand.
His appointment is a coup for Kirkland which counts Bain as one of its most important clients.
However, it means that legal procurement may remain a closed shop for other law firms attempting to make in-roads with Bain Capital Credit in London. As well as Kirkland & Ellis, Bain Capital Credit also uses Ropes & Gray as well as Gibson Dunn & Crutcher in the City.
Fine is joining Willkie Farr in the wake of debt finance partner James Crooks’ recent move to Sidley Austin Brown & Wood.
Crooks is joining a team of former colleagues from Kirkland, led by Erik Dahl and Christian Iwasko, who are moving to Sidley in London to set up its private equity team.
Bain Capital Credit and Kirkland were unavailable for comment.