Freshfields partners explore carve

London | Senior partners at global law firm Freshfields have discussed carving out the firm’s legal artificial intelligence unit, Freshfields Lab, and opening it up to external investors, in the hopes of creating a company “worth billions”, according to an internal email exchange seen by the FT.

In an email to Ethan Klingsberg, the firm’s US co-head of corporate and mergers and acquisitions, global managing partner Alan Mason said on Friday that he was putting “a lot of work” into turning “our AI business in[to] a separate legal entity we can get external investors in / IPO”. He named two Wall Street banks that he said, “have reached out on this”.

Gift articles to anyone you choose each month when you subscribe.