Capital Allocators – Inside the Institutional Investment Industry Jon Ballis – In the Room Where Private Equity Happens at Kirkland & Ellis (Capital Allocators, EP.277)
Oct 24, 2022
Jon Ballis, Chairman of Kirkland & Ellis, shares insights from his journey in private equity law, highlighting the firm's strategic growth and unique talent acquisition approach. He discusses the evolving landscape of fund and deal terms, including trends in private credit and regulation. The conversation also touches on how investment firms are balancing social responsibility with political neutrality amidst changing expectations from younger professionals. Personal reflections on life lessons round out this engaging discussion.
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Unconventional Path to Law
- Jon Ballis's path to law wasn't direct; he majored in Soviet studies and had other career ideas.
- His grandfather's insistence led him to Harvard Law, where a summer internship sparked his interest in transactional law.
From Big Law to Private Equity
- Ballis's focus on private equity started unexpectedly when he worked with a CEO who created a venture capital fund.
- This experience led him to represent J.B. Pritzker and ultimately shift his career to private equity law.
Lateral Hiring Strategy
- Kirkland's success in private equity is partly due to its strategic approach to talent acquisition.
- They recognized a market opportunity in the growing PE industry and adapted their model to recruit lateral hires.