- The London office is known for its expertise relating to capital markets, white collar crime, mid-market corporate/M&A, lender-side banking and finance, and real estate finance.
- Unlike many large City firms, Paul Hastings works not only on high value matters, but also on smaller matters for early-stage businesses, including advising on business formations and seed financings.
- In the UK, Paul Hastings is known for its private equity expertise and specialist knowledge of the hotels and leisure sector, with a history of working on high profile matters such as advising Henderson Park in connection with its acquisition of the Waldorf Astoria Edinburgh: The Caledonian.
- No mandatory seats on the training contract, plus trainees have the opportunity to undertake a dedicated technology or cybersecurity seat.
- The firm is committed to pro bono, as demonstrated by the support provided to Clearly Social Angels and the Youth Justice Legal Centre.
- The firm is known for its unique technological innovations which help assist it with client matters. Such innovations have been acknowledged at the Lawyer Awards and by The Financial Times.
- Notable clients include Goldman Sachs, Investindustrial, Pact VC, G42 and the Co-Operative Bank.
We cover these selling points in more detail below, alongside other relevant firm facts and characteristics.
Practice areas / services
Paul Hastings is a full-service law firm, with a broad range of practice areas including:
- Collateralised Loan Obligations
- Corporate Real Estate
- Credit Funds
- Employment
- Financial Services
- Investigations and White Collar
- Leveraged Finance and High-Yield
- Litigation and Dispute Resolution
- Mergers & Acquisitions
- Privacy and Cybersecurity
- Private Investment Funds
- Real Estate Finance
- Real Estate Funds
- Restructuring
- Securitisation
- Tax
Chambers and Partners, a leading analyst of the legal market, has awarded Paul Hastings its highest ‘Band 1’ ranking for the following departments: Capital Markets: CLOs and Hotels & Leisure. See here for more information
Key sectors / industries
Paul Hastings services a broad range of industries, with some of its highest-value clients operating in the following sectors:
In addition, Paul Hastings services the following industries: Business & Human Rights, Data Centers, ESG & Impact, Insurance and Reinsurance, Life Sciences and Healthcare, Real Estate, and Technology, Media and Telecommunications.
Work
Paul Hastings is known for its involvement in high-profile work. Examples include:
- G42: The firm advised G42, a leading UAE-based AI technology holding company, on the $1.5 billion strategic investment by Microsoft.
- Goldman Sachs: Paul Hastings advised Goldman Sachs and a number of other banks on the refinancing of Phenna Group’s existing debt, which had been provided in 2022 in connection with Oakley Capital’s investment in Phenna.
- The Co-Operative Bank: The firm advised the shareholders of the Co-Operative Bank on the £780 million sale to Coventry Building Society.
- Pact VC: Paul Hastings advised on the launch of a new seed VC fund, Pact, which has the actress Anne Hathaway amongst its LPs and is aimed at supporting mission-driven start-ups in the ‘ABC’ categories of access (economic inclusion), betterment (personal and professional well-being) and climate.
Offices / global footprint / expansion
Headquarters: Los Angeles, 515 South Flower Street.
Offices: The firm has 22 offices across the world in countries including France, Belgium, Germany, China, Hong Kong, Japan and the US. The London office is 100 Bishopsgate.
Insights, internships and other opportunities
Rather than offering a formal Vacation Scheme, Paul Hastings offers informal work placements over the summer months. Applications can be made directly to Paul Hastings by way of a CV and cover letter. Alongside this, prospective applicants can also attend open day events, which typically take place in June and specifically target students who meet the diversity priority criteria (i.e. BAME, social mobility and disability).
The firm offers a number of insights on its website, including the Technology M&A Review, PHLIT: The London Litigation Blog, and the Tomorrow’s Global Business blog.
Training contract
The firm accepts direct training contract applications. As of 2023, trainees are expected to complete the SQE. During the training contract, trainees undertake four seats which are each six months long. There are no compulsory seats, so trainees are able to choose from corporate, capital markets, real estate finance, real estate, corporate, structured finance, leveraged finance, private funds, technology, cyber security, employment, litigation, restructuring and tax. Those who are more transactionally minded can avoid sitting in litigation by completing a separate course instead.
Trainees also receive in-house formal training sessions, hosted by the corporate and finance groups, giving them the chance to bolster their knowledge and learn how to approach certain documents. In addition, trainees benefit from being paired with an associate mentor throughout their training contract.
Secondments
Trainees may be able to undertake a client secondment, depending on business need.
Technology and innovation
Paul Hastings is an innovator within the legal tech area. Some examples that reflect the firm’s commitment to innovation include:
- Lawyer Awards 2022: In 2022, the London office won the Most Innovative Use of Technology award at The Lawyer Awards 2022 for the firm’s automation tool. This tool assists with the funds launch process, including helping to reduce the staff needed to run the MFN process for lawyers and clients.
- Legal Innovation Internship: The firm runs a legal innovation internship in conjunction with Queen Mary University of London School of Law. The project sees students on QMUL’s Law in Practice degree apply for a year’s internship at the firm to work within its Practice Innovation, Knowledge and Legal Solutions department. The internship helps to demonstrate the firm’s commitment to developing cutting edge legal technology.
- Financial Times Innovative Lawyers Europe 2020 report: The firm was noted by the Financial Times to be one of the most innovative in Europe. In particular, the real estate team incorporated artificial intelligence software into the document review process to help loan management company Mount Street with the transition from Libor-based interest rates to other so-called risk-free rates.
Corporate social responsibility
Paul Hastings encourages people to think creatively about how they can make a difference in their communities and worldwide, and wants to leverage the firm’s expertise to achieve this. Examples of the firm’s pro bono work include:
- Assisting Jason: Jason is a Trinidad-born, UK based LGBTQ+ activist who challenged the Attorney General and Government of Trinidad & Tobago to remove sections 13 & 16 of the Sexual Offences Act (which criminalises adult consensual same sex relationships). The firm assisted Jason in this matter.
- Clearly Social Angels: The firm works with Clearly Social Angels, which invests in businesses that create positive social and environmental change.
- Youth Justice Legal Centre: The firm has a collaborative partnership with the centre (part of Just for Kids Law), which transforms the lives of young people through the rule of law and child centred advocacy.
Diversity and inclusion
Paul Hastings acknowledges that “diverse perspectives reap better results and more innovative outcomes” for its clients. This is embodied in the following examples:
- Inclusive Leadership Programme: This programme was launched within the firm in 2018 and provides in-person workshops on inclusivity and diversity, alongside an internal engagement campaign which focuses on bias and reminds employees to be mindful of their behaviours.
- PH Balanced: This initiative seeks to help redefine the culture within law firms regarding work/life balance, bringing together people from across the firm to discuss their shared challenges in this context. The firm works alongside peer law firms and corporations to implement the Mindful Business Charter to help further this initiative.
- Affinity Networks: There are a number of Paul Hastings Affinity Networks (PHAN), including Asia PHAN, Black PHAN, Latinx PHAN, PH Pride and Women’s PHAN. These networks (and the events they arrange) are open to all people at the firm, regardless of background, and drive the firm’s policies in these areas.