With slowing economies in the United States and Europe, more law firms are turning to China as a major market for private equity.
" 'We see accelerating interest in China from our private equity clients,' said David Eich, partner at Kirkland & Ellis International LLP in Hong Kong.
Eyeing China's growth, firms are expanding their presence within the country. China is continuing to attract private equity talent and capital from New York and London, Eich said.
'It's not so much a gold rush as a paradigm shift. They're developing the infrastructure and experience necessary to be competitive in what will soon be the largest economy in the world,' he continued."
This article appeared in its entirety in the August 29, 2008 edition of Dow Jones.