The firm
LG is well-known for corporate and commercial property, standing out for the international complexion of much of its work. It has a flourishing practice in small and mid-cap flotations (where Indian companies are a particular focus) and also shows well in M&A. LG's real estate team benefits from a weighty client list and there's also outstanding strength in private client. International reach was boosted by the opening of an office in Moscow in March 2009.
The star performers
Charities and not-for-profit; Commercial property; Construction; Contentious trusts and probate; Flotations: small and mid-cap; Investment funds; Local government; M&A: Lower mid-market, £50m-£250m; Personal tax, trusts and probate; Planning; Property finance; Property litigation; Social housing.
The deals
Advised Terra Catalyst Fund on £116m fundraising; advised Arden Partners on Indus Gas' admission to AIM; advised the Universities Superannuation Scheme in purchasing a 50% share in an investment portfolio joint venture with Tesco; assisted the Government of Brazil in relation to the alleged corruption of Paulo Maluf, former mayor of Sao Paulo; acted for BP in damages claims arising from the Buncefield explosion.
The clients
Allianz Insurance; Bank of Ireland; Canada Life; Capmark; Generali; Harel; Helical Bar; LaSalle; Legal & General; Lukoil; NFU Mutual; Phoenix Life Insurance Company.
The money
(from Legal Business magazine)
Turnover in 2008: £67.5m (+2% from 2007) Profits per equity partner: £429,000 (-6%)
The Lex 100 verdict
Quietly ambitious LG is in expansion mode, opening in Dubai in 2008 and in Russia this year. Current trainees are lapping it up - 'we're a firm with a clear strategy and are definitely on the up' - and several targeted LG as it 'seemed to be expanding with good goals'. Reasons for coming here include the 'large and reputable private client department', plus its strong reputation in real estate and corporate (particularly AIM-related work). Several were won over early: 'having done four vac schemes, LG's was easily the best experience, I was given decent and interesting work, and the place was full of friendly faces'. The firm has certainly earned a reputation as a friendly place to work with a good work/life balance; 'I seem to work shorter hours and have more fun than most other people I know'. LG delivers better working hours than big City firms, but the trade off is 'fewer high-powered deals'. A good choice for those keen to run their own files, the responsibility levels are considerable with 'frequent opportunities to take on matters, with a good level of guidance, so you feel a sense of pride in the work'. You're not thrown in at the deep end, instead offered 'closer supervision but not in such a way as to compromise your independence'. Work experiences range from 'having to negotiate and draft a lease with little supervision' to 'obtaining a court order, which I managed from start to finish', with one trainee enjoying 'being instrumental in the successful completion of a transaction within my first month'. As last year, trainees feel pay is lagging behind a bit, and there are continued requests for more transparency around seat changes and qualification. One trainee may feel frustrated that 'our reputation as a mid-market player does not do justice to the quality of work that we get', but a training contract here will deliver 'top-end corporate clients' plus excellent private client experience.