Recently noticed that Paul Weiss and Fried Frank are Band 1 for fund formation. Are they generally considered significantly better than Ropes, Clearly, etc. (Band 2 firms)?

Also, other than STB, K&E and Debevoise (and FF/PW), which firms are considered very solid/great reputation for fund formation work?

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FF has GSAM and PW has Apollo, which are two of the largest sponsors. Ropes and Cleary also have exceptionally broad practices, with Ropes having a very robust secondaries group and some pretty interesting LP work. Realistically any of the band 2/3 firms are very well respected. Band 4 is a bit more variable. Sidley, MLB, Dechert and Linklaters (at least formerly) are well respected. DLA Piper is great in LP work even if sponsors want to kill them. Don’t know much about the others.

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Thanks!

Willkie has good reputation

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Willkie

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