Simpson Thacher launches private equity-focused training contract

Simpson Thacher is launching a private equity-focused training contract in London, the first formal path to qualification the firm has offered in the City.

The US powerhouse - known for its top-tier PE practice - said the rotational programme will give trainees aiming for a career as a private equity specialist experience across “the core practice areas that underpin the firm’s market-leading private capital platform”.

Simpson Thacher first announced its plans to launch a formal London training contract at the end of January.

Despite landing in London in 1978, the New York-headquartered firm previously offered no formal path to an England & Wales qualification, instead sponsoring paralegals’ legal studies on an ad-hoc basis.

The firm now joins several of its US peers that offer training contracts in the City. It is also not the first to offer training contracts tailored to their most championed practice areas - Milbank has a leveraged finance-focused programme in London.

The first cohort will join in 2028 and is expected to consist of around ten trainees. NQs will earn £178,000, putting them near the absolute top of the London market. First and second year trainees will take home £65,000 and £70,000 respectively. 

What they said

“As the private capital ecosystem continues to evolve, Simpson Thacher remains at the forefront, advising its preeminent client base on matters that span the full fund lifecycle,” said  European managing partner Wheatly MacNamara.

“With more than 50 years of private equity experience, we are proud to launch our UK training contract programme. 

It will offer trainees meaningful exposure to the disciplines that support the most sophisticated and high-profile global private equity sponsors, working alongside best-in-class lawyers that set the standard for excellence in the market.”