Back to News

Drinks With The Deal: Dechert's Macarchuk Talks Asset Management Convergence

Published: January 20th, 2023
Nicole Macarchuk's career as a PE lawyer in house and at law firms has paralleled the evolution of the asset management industry as PE sponsors, hedge funds and credit funds have increasingly crossed into each other's markets.

The career of Nicole Macarchuk career has paralleled the evolution of the asset management industry, she said on this week’s Drinks With The Deal podcast.

Macarchuk joined Dechert LLP as a private equity partner in San Francisco last year after 18 years as an in-house lawyer at Och-Ziff Capital Management Group LLC, KKR & Co. (KKR) and Angel Island Capital Services LLC.

In that time, hedge funds such as Och-Ziff moved into private equity, while PE sponsors such as KKR expanded into other alternative investments, such as credit. Angel Island also exemplifies the trend; Golden Gate Capital LP started it as a credit boutique.

Toward the end of her time in house, Macarchuk said, she realized she wasn’t “getting as much joy out of the implementation as I thought I would.”

Instead, she enjoyed the legal innovation required to allow asset managers to move into new areas — a trend she said will likely continue. Having been an in-house lawyer, she knows what her clients are focused on from a legal and a business perspective, which helps her be a more effective counselor, she said.

Listen to the podcast with Nicole Macarchuk:

More podcasts from The Deal are available on iTunesSpotify and on

More From Podcasts