Regulation agency Latham & Watkins has employed two new companions to bolster its rising personal credit score enterprise.

Fergus Wheeler and Paul Yin have joined the apply from rival US regulation agency Akin Gump. Each Wheeler and Yin had been employed by Akin Gump earlier this 12 months to launch a personal credit score apply on the agency.

Wheeler has beforehand labored at Apollo, Bridgepoint Credit score and KKR Credit score, earlier than becoming a member of White & Case in 2019.

Yin joined White & Case as a accomplice in 2022 earlier than shifting to Akin Gump in April 2023.

Learn extra: Julius Baer to evaluate personal debt enterprise

At Latham & Watkins, the brand new companions will work to spice up the agency’s personal credit score enterprise because the sector continues to develop.

“Personal credit score is a key strategic focus for the agency,” stated Latham’s co-chair of personal capital Yen Sum.

“Fergus and Paul… are recognised as leaders within the direct lending house and produce a wealth of expertise advising probably the most energetic credit score funds on mid-market and larger-cap lending transactions.”

In keeping with Preqin, personal credit score belongings underneath administration grew to roughly $1.5trn (£1.19trn) in 2022, up from $726bn in 2018. Nonetheless, a senior government at Apollo International Administration just lately estimated that the personal credit score market might be value as much as $40trn.

Learn extra: Alvarez & Marsal expands UK debt advisory workforce