Davis Polk Adds Trio of Asset Management Partners

Davis Polk & Wardwell is continuing its lateral expansion with a trio of asset management partners from Debevoise & Plimpton in New York.

Andrew Ahern, Alisa Waxman and Luke Eldridge are all joining Davis Polk as partners in its investment management practice, the firm announced on Tuesday.

Davis Polk, a storied Wall Street firm whose clients include Morgan Stanley, ExxonMobil and Meta Platforms, Inc., has made lateral hiring a priority, particularly in London and Northern California as well as in its asset management practice.

It recently added A&O Shearman private equity partner Gordon Milne and Luke McDougall, former co-head of Paul Hastings’ global finance practice in London. It also added global head of White & Case’s project development and finance group Elena Millerman as co-head of its infrastructure finance practice as well Nick Caro from Goodwin and Simpson Thacher & Bartlett partner Chris Healey to its investment management practice.

The trio’s hire is “a transformative development” for Davis Polk, said its managing partner Neil Barr in a statement.

“Growing our investment management platform to scale is a top priority for our firm, and with the addition of this market-leading team, we are exceptionally well-positioned to provide the highest-level service to our clients,” he said.

Ahern works with sponsors of private investment funds, including buyout, energy and infrastructure, credit, venture capital and funds of funds. Over his nearly 20-year career at Debevoise he has advised the likes of EIG, HarbourVest Partners, JF Lehman & Company, Lightspeed Venture Partners and Sequoia Capital.

Waxman, who spent nearly 13 years at Debevoise, advises sponsors of private investment funds, co-investment funds, separately managed accounts and complex secondaries covering numerous sectors and strategies, including buyout, growth, venture, energy, infrastructure and credit opportunities. She’s worked with Ara Partners, Bain Capital, Brookfield Asset Management, PSG, Global Infrastructure Partners, among others.

Eldridge, who made partner at Debevoise in 2023, advises sponsors of private investment funds, co-investment vehicles and separately managed accounts, covering numerous sectors and strategies, including debt, energy, growth capital, emerging markets and venture capital funds. He has advised clients such as Carlyle, EIG Global Energy Partners, Glendon Capital Management, Sequoia Capital and Stone Point Capital.

“Andrew and Alisa have exceptional and well-established reputations in the market, and Luke is a rising star with impressive talent,” Leor Landa, head of Davis Polk’s investment management practice, said in a statement.

“The additional bench strength and deep market knowledge and relationships with leading sponsors that this team brings is critical as we continue to grow our private funds team and transform our investment management practice broadly,” he said.

“We of course wish our colleagues well in their future endeavors,” said a Debevoise spokesperson in an email. “Our premier global funds team has more than doubled in size over the last five years to include more than 170 lawyers, so we expect no impact to our business or client work.”