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DLA Piper, the third-largest lawfirm in the US by revenue, is setting up a special department to advise companies involved in commercial space exploration. As reported by the Financial Times, it's part of a growing number of major lawfirms looking to tap into the commercial space race.
Global lawfirm Ropes & Gray has named 12 of its existing attorneys as the firm’s latest Partners, effective 1 November, including several whose practices cater for private equity and other private credit and private fund clients.
ADMATI: We’re at the mercy of these privatecompanies. RITHOLTZ: Because they’re privatecompanies. ADMATI: And so, now, that’s my current interest, which is the corporation, as a legal person, they are not a set of assets owned by shareholders. There are areas that can be restricted. RITHOLTZ: Right.
But yeah, then I went to Wachtel afterward because it, it seemed like, because like, you know, you’re, you’re a law student and you don’t know what a lawfirm is. And then like you can spend your second year summer at a lawfirm. And so you end the summer knowing what a lawfirm is.
So the theory was that’s great that you’re providing a loan, but if you can co-invest with them and get the upside of partnering with some of the most successful private equity funds in the United States, you know, a great way to enhance your returns. RITHOLTZ: We call that legal insider trading. RITHOLTZ: Guilty as well.
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