Tony Williams: Private equity can transform law
The announcement last week that Lyceum Capital, a mid-market private equity house, is devoting considerable resources to the legal sector and is already actively exploring private equity investment in legal services businesses is another sign that the market is gearing up for the change permitted by the Legal Services Act. I am a member of the advisory board that was established by Lyceum Capital. The Legal Services Act enables law firms to take outside capital or, indeed, for new businesses owned by non-lawyers to provide legal services. It is important to appreciate that this enabling legislation does not force or require firms to change their business or ownership model. They only need to do so and will only do so if they see clear advantages to themselves and significant opportunities to develop the quality and range of clients that they are able to act for.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651