Freshfields Bruckhaus Deringer is to restructure its German private equity practice following the loss of three highly-rated partners – including global co-head of private equity Peter Nussbaum – to Milbank Tweed Hadley & McCloy.

Nussbaum’s former private equity cohead, London-based Christopher Bown, is spearheading the initiative, aimed at taking forward the practice after the market-shaking raid.