What has been the number one challenge that has impacted you over the past year?

My main challenge has been finding a solution for an issue in one of our funds, which could have (potentially) led to the bankruptcy of three companies and would have been detrimental to our future funds and the future of our firm. At the start, investors were not happy with the situation and the partnership was not aligned which resulted in tensions. It was quite a challenge finding a way forward within the fund documentation, finding alignment in the partnership and getting the approval from the investors in our funds. The way forward triggered a conflict of interest which complicated the matter even more. It was an extensive process that took almost two years, but we managed to find alignment, gain the support and trust of the partnership, and establish a closer relationship with the investors.

Do you have an example of a time when you have come up with an innovation that improved how your legal team works that did not result in a large expense?

Within private equity, the organisation is quite lean and you are therefore very dependent on external counsels. I would not say it’s a real innovation, but last year I spent a lot of time educating the broader investment team on legal matters. This better equips them to prepare guidelines for shareholder and share purchase agreements and to communicate with external counsels about how we like to do business. This promotes clarity, saves time and costs, helps external counsels better understand our values, and ultimately results in a better and more efficient way of working.

What would you say are the unique qualities required to be successful as an in-house lawyer in your industry?

It is essential that you think strategically, integrate commercial insights, maintain a holistic view of your role in the business and digest information quickly. It is also important to remain non-political while at the same time staying emphatic and sensitive to the dynamics happening amid stakeholder management. It takes balance to be a trusted advisor to the partnership who can also speak up and hold partners accountable. Private equity is a high-performance culture with a fast pace and there is no time for extensive discussions; the advice should be simple and concise. It is therefore crucial to be able to quickly translate input from outside counsels into a practicable solution and route forward.