In 1993, when Peter Hermann and several of his colleagues from BancBoston Capital Inc. were starting a private equity firm, they didn’t have enough money to hire a lawyer. So Hermann approached his high school friend Stephen Cohen, a partner at Boston’s Choate, Hall & Stewart, and asked if Cohen could help out. “He listened to our sad tale,” Hermann says, “and agreed to represent us for free. We would repay him if it worked.”

Cohen’s gamble paid off. Hermann’s firm, Heritage Partners Inc., is now a $1.4 billion fund that targets midmarket family-owned companies — and Choate Hall is now its regular outside deal counsel.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]