Private equity giant PPM Ventures has finalised its legal panel, taking the unusual decision to appoint Clifford Chance (CC) as its primary adviser and form a three-firm panel for secondary work across Europe.

The move signals the end of Lovells’ status as PPM’s preferred adviser. The firm had advised the client for around 10 years before the departure of client partner Allan Murray-Jones to Skadden Arps Slate Meagher & Flom last year.