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Private Lenders Lawyer Up as Unease Grows Over Appointed Counsel

July 5, 2022, 10:55 AM

Some of the most powerful private lenders in Europe are hiring their own outside lawyers to navigate larger deals, a shift in an industry that relies on law firms picked by buyout firms on the other side of the trade.

The direct-lending arms of firms such as Apollo Global Management Inc., Arcmont Asset Management Ltd, Blackstone Inc., Carlyle Group Inc. and KKR & Co. are among several firms said to be appointing their own legal advisers on certain deals arranged by private equity firms, according to people familiar with the matter. Spokespeople for each lender declined to comment on the ...