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Meet the lawyer

Priyanka Patel

Priyanka Patel

University: University of Bristol
Degree: Law
Year of qualification: 2024
Position: Associate
Department: Corporate and securities –  private equity
Pronouns: She/her

What attracted you to a career in law?

I have quite an analytical mindset, which I thought would lend itself well to being a lawyer, but commercial law in particular appealed to me as it requires us to apply that analysis to real-world business and commercial considerations. I work in corporate mergers and acquisitions (M&A) and private equity, where one of the greatest expectations from our clients is our ability to combine the legal considerations with the commercial challenges that are presented in a transaction, and problem solve and negotiate to find a resolution that leads to the successful completion of a deal.

How did you decide which firms to apply to?

There’s no doubt a significant (arguably overwhelming, when you're applying) number of options out there, but Mayer Brown appealed because it offers the traits of a US firm, but with much more of an international approach and access. It has a smaller trainee cohort than many other firms in the City, which naturally facilitates a greater degree of responsibility and opportunity at an early stage for trainees who succeed at the basics and instil confidence in their supervisors that they can take on the more challenging tasks. You definitely don't feel like one small fish in a big pond, but rather that you have the opportunity to make your mark at the firm. You can also get involved in high-quality work, often with an international dimension, which in itself brings its own development opportunities, but within an office that fosters a supportive environment.

What do you think made your application successful?

I tried to demonstrate that, alongside understanding fundamental legal principles (which really is a foregone assumption by the time you qualify), I could simultaneously consider challenges from a client's point of view and consider not only the legal risks, but also the commercial ones as well. At the interview, being able to rationalise and articulate your thought process, and justify the points you're making (beyond the fact they are legally correct) also enabled me to demonstrate that I could work in an environment where a client's needs are central to what we do, and that I could keep those at the forefront of my mind, while attempting to solve legal challenges.

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Please discuss deals/cases that you were involved with, outlining your role in the matter.

I've been involved in a number of disposals and carve-out acquisitions for some of our cornerstone private equity clients this year, including Marlin Equity Partners' acquisition of Napier AI, Sullivan Street Partners' carve-out of the Aerostructures division of Senior Plc, and Inspirit Capital's disposal of Inspiro Learning Limited. Roles can vary depending on the size of the team and overall timeline, but typically you may be involved in anything from running the diligence process, marking up transaction documents and being a point of contact with the other side and the client team. Most often you just have to be flexible and adapt to the team's needs – occasionally someone on the deal team may become consumed by another deal and so you have to step in to help cover their workstreams, so your deal continues to progress seamlessly. Our team is great at providing the opportunity to stretch and challenge ourselves, and the most successful teams are those where everyone is pre-empting the needs of the lawyer immediately senior to them, which also lends itself well to developing your own skill sets.

Please outline your area of expertise. What might you do in a typical day?

My work predominately revolves around private equity transactions and private M&A. On the private equity side, we advise our sponsor clients on every aspect of the deal lifecycle, from investment to exit. During the investment itself, that means we also advise portfolio companies on any day-to-day corporate queries, bolt-on M&A and managing their employee incentive plan and equity arrangements, which we also often put in place.

Most people will say this, but no two days are the same for a transactional lawyer! Key features will include negotiation calls with counterparties, update and process calls with clients, internal planning meetings, drafting and training juniors in the team (as you become more senior). You do also have to accept that the to-do list you wrote at 9:00am may well be untouched at 6:00pm if you've been called by a client with a new issue on a deal that needs immediate attention – and that happens on a not infrequent basis! I personally enjoy the dynamic nature of what we do. Working in private practice, and in a team that’s sector-agnostic, means you get exposed to a range of transactions in different industries and of different sizes, each of which bring their own challenges and learnings.

How involved are you with business development and promoting the firm?

Arguably every interaction you have with a client on a matter is a form of business development! Nonetheless, business development is encouraged for all levels at Mayer Brown. There are the natural opportunities that come from situations like matter-related dinners with clients. We're also often given the opportunity to also be involved in preparing pitches for new clients and looking at prospects. The firm is also very good at encouraging associates to develop their own connections and build relationships. We host an annual associates private equity drinks reception, which is entirely associate-led and we invite all of our clients, particularly focusing on those at a similar associate level. Events like this are great because a large part of business development is about strengthening existing relationships. Similarly, one of the most rewarding parts of the job is when you get the opportunity to do repeat deals for the same client because you understand them better and invariably can apply past learnings to yield future success. I’m also co-chair of the London Office's NextGen committee, which is a firm-wide initiative, now operating in a number of offices, comprised of lawyers who are counsel level and below, which facilitates business development and networking.

What skills/strengths do you need to be a successful solicitor?

It's a foregone conclusion that you'll ‘know’ the law. But a client's needs and priorities are central to what we do, and you must be able to prioritise and understand those to be able to get them the best outcome in their deal. In a similar vein, you need to be able to distinguish between the legal and the commercial. It’s important to be able to read your clients and know when you have to push a legal point versus when the commercial aspects may outweigh.

Being a transactional lawyer means you'll often be simultaneously running multiple deals in parallel (usually at different stages, although you can also end up with three completion dates all conflating on the same day!). Being on top of the detail and knowing the status of the various workstreams is critical as a corporate lawyer, as the client team and wider deal team will look to you to make sure that things are moving in the right direction. The onus is also on us to be proactive rather than reactive, to pre-emptively problem solve and, of course, apply a high level of attention to detail and analysis to the drafting of the key transaction documents that will govern the whole deal. Relatedly, given the corporate team sits at the centre of the deal, we must ensure that all the various workstreams and documents that are progressed by our specialist teams ultimately all work together harmoniously. Empathy is also an underestimated quality – with the best will in the world, deals often take unexpected turns, some of which can be deeply frustrating particularly for our clients, so being able to understand those frustrations, empathise and offer productive solutions can be extremely helpful in being a successful partner to clients through their transaction.

What advice do you have for budding solicitors who are contemplating a career in law?

Think about your ‘why’ and what it is that you can bring to a firm, and to clients. There's no doubt that the application process is challenging and can feel relentless, but at the end of the day, every application is a fresh opportunity to present yourself to a firm, and they only want to know what you can bring to them. Make sure that applications are tailored to the firm, reference any touch points or interactions you've had and try to make it personal by relating your key strengths to your experiences, and ultimately draw that all back to why those strengths would make you an asset for the firm. What is it that you want to achieve by being a lawyer?

What’s the wider culture like?

We're fortunate at Mayer Brown to have the exposure to great clients and work, but to have that coupled with a culture that’s inviting, supportive, inclusive and empowering. We have several initiatives and societies, including sports groups, multi-faith societies and diversity groups.

The firm also pays attention to what its lawyers and business services professionals say and suggest. We have an office community group, which comprises of representatives from every team across the London office who meet with the managing partner once a month to discuss any issues that may be relevant to their team together with topics that apply to the wider office. It's also used as a sounding board for potential new initiatives. There’s a good sense of cross-culture between the teams as well.

Does your department largely work independently, in support of another dept or is it routinely supported by other depts?

I might be biased(!) but the corporate department is an incredibly collaborative team, not least because of the nature of our work. When we’re working on a deal, we invariably always need to involve specialists across the firm, be it for a due diligence exercise, to progress the transaction documents or to solve niche unforeseen issues. That means that at any one time you're working with lawyers across the whole office, and often times with multiple Mayer Brown offices depending on the jurisdictions involved in the deal. Working in corporate is one of the best ways to get to know the whole firm!

What’s your favourite TV show/movie

Fool Me Once. I’d highly recommend – it was gripping and kept you on the edge of your seat. The problem is, when they're that good, you end up getting through the whole season in one go!