New Advisory Firm Avonhurst Launches
- Ex-Jones Day Partner launches trailblazing boutique firm https://www.avonhurst.com/
LONDON – New advisory firm Avonhurst launches in London this week, founded by leading figures in the capital markets, banking and finance and real estate sectors.
Avonhurst is dedicated to meeting the changing needs of sophisticated capital by providing a bespoke offering comprising legal, legislative / political risk advisory and capital services. A group of market-leading founders and influencers from the legal world have created a revolutionary advisory business dedicated to helping funds, capital providers, corporate borrowers and issuers, and secured lenders, navigate the complexities of ever-changing markets. The firm will launch with a substantial client portfolio.
With former Jones Day partner and leading capital markets and funds lawyer Jonathan Bloom as a key founder, the new firm’s day-one team includes former head of banking and finance at PwC Legal Laetitia Costa, and Nigel Heilpern, who headed the London real estate and real estate finance department at King & Spalding. Other high-profile hires will be announced shortly.
Bloom comments: “Whilst many traditional law firms profess to offer the best people, services, processes and technology to clients in sophisticated capital, none of them co-ordinates its resources in the most enterprising way. Clients are increasingly pushing back against the traditional delivery model of legal services and are tired of paying high rates for inexperienced junior resources and intolerant of inefficient delivery and poor communication. There is a real demand for more strategic commercial support at every stage of engagement. The status quo needs to change and developments in technology and alternative resourcing present the answer.”
Avonhurst offers a new model, based on an innovative combination of expert advice, smart use of technology and an agile approach to pricing that eschews the rigid models employed by traditional law firms. The firm will concentrate on offering core legal services covering banking and finance, restructuring, high yield capital markets, corporate, real estate, financial regulatory and tax. Other legal advice such as IP, litigation and employment will be accessed from best friend firms.
Wider business advisory services will be supported by a board of advisors comprising senior leaders across the business, funds, investment banks, advisory and real estate communities, while operational support will be handled by Kindleworth, a specialist managed services provider which focuses exclusively on launching and managing top-tier boutique law firms.
Bloom continues: “Avonhurst offers expert strategic advice from senior practitioners that goes beyond legal into a truly multi-disciplinary service. Our services are designed around a deep understanding of our clients’ needs and the defining characteristics of what makes for a long-term relationship. Our pricing eliminates using the billable hour as the metric for assessing value. Rather, we offer a range of options, from fixed, retained and contingent fees right through to equity share, all geared towards aligning our interests with our clients, now and in the future. This is an optimised, technology-enabled delivery model you won’t find anywhere else.”
FOR MORE INFORMATION CONTACT
Kathryn Adamson, Kathryn@legalcomms.com, Mobile (+44) 0771 713 3595
NOTES TO EDITORS
Jonathan Bloom is one of the UK’s leading capital markets lawyers, with a particular focus on high yield debt offerings and fund-related transactions and extensive experience in structuring and negotiating acquisition, bridge, and mezzanine financings and debt restructurings. He was formerly at Jones Day, London.
Laetitia Costa was head of banking and finance at PwC Legal, and previously at Milbank, Tweed, Hadley & McCloy. She has over 15 years’ experience in leveraged finance, real estate and debt restructuring transactions advising arrangers, funds, private equity firms and corporations. Having trained at Freshfields Bruckhaus Deringer, she has worked at both magic circle and City firms, including over 10 years in the Paris offices of Ashurst, Allen & Overy and Clifford Chance.
Nigel Heilpern was recruited by King & Spalding in 2012 to launch its London real estate department, having previously worked as local head of real estate at Fried Frank Harris Shriver & Jacobson.
Kindleworth will provide post-launch operational support, from director-level down, including Strategy and Operations, HR, Finance, IT, and Risk and Compliance. Kindleworth are a specialist managed services provider, focused exclusively on launching and managing top-tier boutique law firms. Notable launches include Three Crowns, Signature Litigation, ARC Pensions and Northridge.