Ask Simpson Thacher Anything (26/27)

[Christine - Simpson Thacher & Bartlett]

Hi everyone! Thank you for this opportunity to ask you some questions!

1. When you read or hear a candidate explain why Simpson Thacher is their first choice, what makes you believe that they genuinely understand the firm rather than simply repeating things they’ve read on the website?
2. If you were advising someone applying for the vacation scheme now, what would you encourage them to understand about private equity before they come to interview?
3. Who tends to thrive at Simpson Thacher?
4. If you were supervising a vacation-scheme student for two weeks, what would make you think, ‘I would genuinely want this person on my team’?
5. With the private equity market changing, particularly around financing conditions, secondaries, continuation vehicles and more complex deal structures, what change has most affected the work you’re doing as a lawyer

Thank you for your answers in advance!

These are some really good questions!

1) Paul may disagree with me, but obviously you can only base your understanding of the firm on what you have read/experienced at an event (if you are able to attend one), so I think it's more about tying together what you have read about STB, what you know about the wider market environment, and your knowledge of law firms in general to understand why STB positions itself the way it does.

2) I think it's helpful to understand what the market is looking like at the moment for private equity, both in respect of fundraising and entering into/exiting investments, as well as the basic drivers behind what a PE sponsor is trying to achieve.

3) People who tend to thrive at STB are those who are curious to keep learning, have an ability to see the technical side of a matter as well as the commercial aspects, and are resilient.

4) Everyone will say this, but attention to detail is important as people will not trust you can do the hard things if there are typos etc. in your work. I also think a good attitude goes a long way - no-one expects you to know everything, but a willingness to give it a go, ask sensible questions and take on feedback will get you credit.

5) The fundraising environment has definitely changed in my time at STB and we are seeing investors asking questions they might not have previously, while sponsors are looking to be more accommodating, so our approach to investor responses has had to shift accordingly. As others have said, sponsors are also looking at what other options they have such as CVs or evergreen vehicles.

 

[Christine - Simpson Thacher & Bartlett]

Hello @Christine - Simpson Thacher & Bartlett Was there anything outside school (a society, a job, a hobby) that ended up being surprisingly useful in your work at STB?

I worked in compliance consultancy prior to doing my training contract where a number of my clients were PE houses. I wouldn't say it was necessarily surprising that this experience was useful, but I do think having any sort of job, role of responsibility or team position is helpful as you have already started to develop skills you will use in private practice such as organisation, communicating your ideas/thoughts to others, time management etc.

 

[phoenix11_]

These are some really good questions!

1) Paul may disagree with me, but obviously you can only base your understanding of the firm on what you have read/experienced at an event (if you are able to attend one), so I think it's more about tying together what you have read about STB, what you know about the wider market environment, and your knowledge of law firms in general to understand why STB positions itself the way it does.

2) I think it's helpful to understand what the market is looking like at the moment for private equity, both in respect of fundraising and entering into/exiting investments, as well as the basic drivers behind what a PE sponsor is trying to achieve.

3) People who tend to thrive at STB are those who are curious to keep learning, have an ability to see the technical side of a matter as well as the commercial aspects, and are resilient.

4) Everyone will say this, but attention to detail is important as people will not trust you can do the hard things if there are typos etc. in your work. I also think a good attitude goes a long way - no-one expects you to know everything, but a willingness to give it a go, ask sensible questions and take on feedback will get you credit.

5) The fundraising environment has definitely changed in my time at STB and we are seeing investors asking questions they might not have previously, while sponsors are looking to be more accommodating, so our approach to investor responses has had to shift accordingly. As others have said, sponsors are also looking at what other options they have such as CVs or evergreen vehicles.

Thank you so much for your insights!! It’s very helpful!

 

[Stacy Adei]

I worked in compliance consultancy prior to doing my training contract where a number of my clients were PE houses. I wouldn't say it was necessarily surprising that this experience was useful, but I do think having any sort of job, role of responsibility or team position is helpful as you have already started to develop skills you will use in private practice such as organisation, communicating your ideas/thoughts to others, time management etc.

Thank you so much!

 

[Samira Kaur Dhaliwal]

Simpson Thacher has a particularly strong reputation in private equity and complex cross-border transactions. For trainees in London, how much exposure do they get to the commercial side of those transactions, and how early are they encouraged to understand the client’s wider strategic objectives rather than just their legal work?

 

[Samira Kaur Dhaliwal]

Given Simpson Thacher’s US roots and international client base, how does the London office work with the firm's US offices on major transactions, and what does that mean for the experience of a London trainee?”

 

[helloseoul]

Hi @Paul@SimpsonThacher,

I would love to work at Simpson Thacher through its Vacation Scheme this Winter but I need to resubmit my application. Would it be possible to get in contact with the early careers team at Simpson Thacher to do this?

Thank you!