by Michael Washburn
Mid-market law firm Polsinelli has promoted seven attorneys in various practice areas, bolstering its national network.
Transactional lawyer Philip Feigen, who joined Polsinelli’s Washington office in February from Patton Boggs, is now the office’s managing partner. Feigen has extensive experience as an advisor to financial institutions and small business investment corporations, or SBICs. At the time of his hiring, Feigen said he expected a strong year for SBICs, and he stands by that prediction.
“There’s been very strong interest in the SBIC program in general and there continues to be, because this is a great environment for raising capital. It’s evidenced by the fact that a lot of the larger Wall Street funds and fund managers are now also focusing on trying to have a lower middle-market presence as part of their investment platform,” Feigen told IFLR1000.
Feigen said that many of the larger funds are getting into the middle market as investors in SBICs, and not wanting to manage that money themselves. The funds will become an LP in an SBIC, rather than launch their own fund, he explained.
“We’re seeing interest from these larger funds as well as financial institutions who continue to think this is a great place to put their money,” he added.
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