Regulation agency Latham & Watkins has employed two new companions to bolster its rising non-public credit score enterprise.
Fergus Wheeler and Paul Yin have joined the observe from rival US legislation agency Akin Gump. Each Wheeler and Yin had been employed by Akin Gump earlier this yr to launch a non-public credit score observe on the agency.
Wheeler has beforehand labored at Apollo, Bridgepoint Credit score and KKR Credit score, earlier than becoming a member of White & Case in 2019.
Yin joined White & Case as a associate in 2022 earlier than transferring to Akin Gump in April 2023.
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At Latham & Watkins, the brand new companions will work to spice up the agency’s non-public credit score enterprise because the sector continues to develop.
“Personal credit score is a key strategic focus for the agency,” stated Latham’s co-chair of personal capital Yen Sum.
“Fergus and Paul… are recognised as leaders within the direct lending house and produce a wealth of expertise advising essentially the most lively credit score funds on mid-market and larger-cap lending transactions.”
In line with Preqin, non-public credit score property beneath administration grew to roughly $1.5trn (£1.19trn) in 2022, up from $726bn in 2018. Nonetheless, a senior govt at Apollo International Administration not too long ago estimated that the non-public credit score market may very well be value as much as $40trn.
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