On Monday, Paul Hastings LLP announced that it had expanded its investment funds and private capital practice by adding a five-partner team from Kirkland & Ellis. The team will be led by veteran partner John Budetti, who has been named the new global chair of the practice. Budetti spent approximately 17 years at Kirkland before joining Paul Hastings as a partner in New York.
The four partners from Kirkland who will also be joining Paul Hastings will cover funds, private capital transactions, tax, and regulatory matters, though the firm has not disclosed their identities.
Budetti's arrival at Paul Hastings is part of a period of rapid expansion for the firm, which has hired over 50 lateral partners since January of last year. Earlier this month, the firm also tapped Cahill Gordon & Reindel LLP partner and group leader Brad Bondi to co-chair its investigations and white-collar defense practice.
Paul Hastings Chair Frank Lopez said in a statement welcoming Budetti and his team, "John's reputation and position in the investment funds market cannot be overstated — we are thrilled he has joined us." He added that the addition of the team further aligns with the firm's goal of representing asset management clients on their most important and complex matters across various asset classes and practices.
Budetti, who has represented private equity firms such as Summit Partners and Arlington Capital Partners and investment firms Audax Group and Kinderhook Industries, expressed his gratitude for having worked with most clients throughout his 17-year career at Kirkland and said he hoped to continue working with them. However, he also emphasized that the success of building a global practice will depend on a combination of the firm's existing and future clients, as well as the growth of the course itself.
Budetti graduated from Trinity College in Hartford, Connecticut, and earned his law degree from the Pritzker School of Law and his MBA from the Kellogg School of Management, both at Northwestern University.
