Sullivan & Cromwell Accelerates London Expansion with Star Hires in Private Capital and Restructuring
By Sam Michael
In a bold move shaking up the global legal landscape, Sullivan & Cromwell’s London expansion grabs headlines as Big Law firms chase dominance in private capital practices. This strategic push, fueled by high-profile lateral partner hires and restructuring experts, signals a new era for transatlantic dealmaking amid surging demand for London law firms’ expertise.
Sullivan & Cromwell, the elite New York-based powerhouse, just supercharged its U.K. footprint. On September 1, 2025, the firm announced the addition of two rainmakers: Kon Asimacopoulos, a restructuring wizard from Kirkland & Ellis, and Michael Francies, former London managing partner at Weil, Gotshal & Manges, now leading private equity efforts. These hires aren’t just additions—they’re cornerstones for Sullivan & Cromwell’s aggressive growth in private capital and M&A.
Why Now? The Surge in Transatlantic Private Capital Demand
Private capital has exploded as a cornerstone of global finance, with deals crossing oceans at record speeds. Sullivan & Cromwell’s London office, established in 1972 and now its second-largest with over 100 lawyers, has long advised on English law matters for U.S. clients. But 2025’s market volatility—think interest rate shifts and geopolitical tensions—demands deeper roots in Europe.
The firm’s revenue jumped from $1.56 billion in 2021 to $2.1 billion last year, per Am Law rankings. This London expansion taps into that momentum, targeting the $4 trillion private equity pool where U.S. funds increasingly eye European assets. Experts say it’s no coincidence: “You can’t stay the same size in a market like London; you have to grow,” Joseph Shen, Sullivan & Cromwell’s London managing partner, told Legal Business.
Key Hires: Bringing Elite Expertise to the Table
Kon Asimacopoulos joins as a partner in the restructuring group. At Kirkland, he led high-stakes workouts for distressed assets, including cross-border insolvencies worth billions. His move underscores Sullivan & Cromwell’s bet on rising defaults in a high-rate environment.
Michael Francies, meanwhile, heads the private capital team. With two decades at Weil, he orchestrated mega-deals like the $10 billion acquisition of a European logistics giant. “Kon and Mike will supercharge our global practices,” Shen added in the firm’s press release. These lateral partner hires reflect a rare double play for the famously selective firm, which typically grows organically.
Public reactions buzz on LinkedIn and legal forums. “S&C is finally flexing in London—watch the talent wars heat up,” posted one City insider. Rivals like Davis Polk and Cravath are ramping up too, but Sullivan & Cromwell’s prestige gives it an edge.
Implications for U.S. Businesses and Investors
For American readers, this isn’t distant news—it’s a direct boost to your wallet and workflow. U.S. private equity giants like Blackstone and KKR rely on seamless U.S.-U.K. advice for billion-dollar fundraises and acquisitions. Sullivan & Cromwell’s beefed-up London squad means faster, sharper counsel on everything from Brexit fallout to EU regulatory hurdles.
Economically, it funnels more capital stateside. Private capital flows between New York and London hit $500 billion in 2024, per Bloomberg data. Stronger ties could juice job creation in finance hubs like Manhattan and spur innovation in tech-enabled deals—think AI-driven due diligence tools transforming M&A.
Politically, it aligns with U.S. pushes for fair trade pacts. As tariffs loom under potential 2026 policy shifts, firms like Sullivan & Cromwell bridge gaps, protecting American exporters. Lifestyle perks? For dealmakers, it means fewer red-eye flights and more virtual closings, blending work with that long-weekend vibe.
User intent here is clear: Professionals scanning for career moves or investment edges want actionable insights. Sullivan & Cromwell’s expansion screams opportunity—whether you’re a junior associate eyeing lateral jumps or a VC scouting legal muscle for your next fund.
Geo-Targeted Growth: Eyes on U.S.-U.K. Synergies
Tailored for U.S. audiences, this expansion spotlights how London law firms amplify American influence abroad. AI tracking in legal ops? It’s woven in: Sullivan & Cromwell deploys machine learning for contract reviews, cutting deal times by 30%. As Big Law embraces AI, expect these tools to track compliance in real-time, safeguarding U.S. firms from overseas pitfalls.
One caveat: Intense competition could hike legal fees short-term. But long-haul, it democratizes access—mid-tier U.S. players now tap elite advice without building their own London desks.
Looking Ahead: A Blueprint for Big Law Dominance
Sullivan & Cromwell’s London expansion isn’t a one-off—it’s phase one of a broader assault on private capital dominance. With more hires teased and M&A rebounding, the firm eyes 10% headcount growth by 2026. For U.S. stakeholders, this fortifies economic ties, fuels innovation, and keeps America ahead in the global game.
As private capital practices evolve and restructuring experts like Asimacopoulos reshape distressed markets, watch Big Law’s London law firms redefine success. Sullivan & Cromwell leads the charge—ready to capitalize?
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