When Mark Mifsud and his funds team left the well-maintained fortress of SJ Berwin for the brave frontier of Kirkland & Ellis, their former colleagues were surely hoping they would join the ranks of high-profile moves to US law firms that have under-performed. And with the US firm’s most high-profile lateral hires – Graham White and the (now departed) Raymond McKeeve – generally regarded to have taken longer than expected to make inroads in private equity, such hopes would not have looked too far-fetched.

Sadly for SJ Berwin, within 18 months the much-touted trio of Mifsud, Richard Watkins and Justin Dolling have built a practice strong enough to catch the attention of even the most sceptical observers. Indeed, what’s striking is the high regard the team is held in by rivals in the closely-knit funds world who have no reason to talk up Kirkland’s efforts.