Law Firms Ramp Up as Investors, Companies Add Risk, Do Deals

Hedge funds and other financial clients are ramping up their interest in riskier investments, and law firms are paying attention.

Simpson Thacher & Bartlett is setting up a multidisciplinary effort that draws on expertise across the firm to provide a comprehensive response on issues arising from client involvement in distressed investments.

Simpson Thacher’s newest unit, the Private Capital and Special Situations Investment Group, aims to draw on legal expertise from the firm’s bankruptcy, capital markets, leverage finance, private equity, tax, intellectual property, employee benefits and litigation practices.

In addition to Simpson Thacher, Latham & Watkins, as well as Cadwalader, Wickersham ...