Legal departments for private equity firms are asked to control outside spending, but they're unable to approve budgets for new legal projects and lack access to live spending data, according to a new survey of in-house leaders for investment management companies in the U.S. and U.K.
January 12, 2021 at 01:59 PM
1 minute read
The original version of this story was published on Corporate Counsel
While the majority of in-house lawyers for private equity firms in the U.S. and U.K. are expected to select outside law firms and control legal spending, they’re being deprived of some key tools for the job.
Corporate counsel in private equity are being kept on the sidelines when it’s time to approve budgets for new legal projects and lack access to live spending data, which has led to widespread overspending, according to a new report from Apperio.
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