A surge in workload in a high-pressure, fast-paced legal department created an immediate need for a high-quality, flexible legal resource. Within 48 hours, Axiom was able to source and onboard five high-caliber lawyers with deep alternative investment, and has had ongoing engagements with the company since 2017.
An alternative investment management firm previously had hired major law firms to assist with their overflow legal needs. However, increasing costs and fee pressure forced the client to search for a more economical solution, without sacrificing quality and expertise. In addition, high deal activity, rising demand, and workload volume had created a high-pressure, fast-paced environment for the in-house legal department. The client needed to bring on extra support while avoiding attorney attrition and staying within budget. Their main objective was to identify a resource with the specific alternative investment expertise they needed, and the ability to support and enable the client’s various business teams while mitigating risk.
Axiom created a solution that provided strategic support with deep alternative investment experience that could quickly integrate with the in-house team while performing independently. The Axiom lawyers started in a consulting role, which grew into taking on smaller projects and matter-based work, freeing up the in-house team to concentrate on more strategic initiatives. The Axiom lawyers had the specific expertise needed to complete various alternative investment workstreams, including fund structuring and formation, side letter reviews, and LP interest transfers. They quickly became an extension of the legal team, providing full-time, part-time, matter, and project-based support.
Axiom was able to source and onboard attorneys within 48 hours, allowing for seamless integration with the in-house team and immediate transition of matter and project-based support. Overall, working with Axiom drove $1 million in cost savings for the client, and increased the legal team’s efficiency without sacrificing quality.
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