My legal life: Smridhi Gulati, Dechert

My history teacher at secondary school suggested that I should think about studying law at university. She thought my analytical skills in class would suit that subject/ profession well. The TV programme Ally McBeal was also very popular at the time, so between those two great influences I ended up pursuing law at university. As I looked into the profession more, I was attracted to a job that looked to be intellectually challenging but was also practical and very business focused. 

Leverage financing/ private equity is still an area (both in law, and in the private equity and finance industry itself) that lacks women in senior positions. Leveraged finance is a very demanding practice area requiring long hours at very short notice. It is a lifestyle choice that many women (and men for that matter) do not want to opt for. It has also traditionally been very male-dominated. Therefore, I suspect, to many women it has not felt particularly welcoming and/or has likely felt like an area which would be challenging to infiltrate and therefore succeed in. I believe, however, that is starting to change.

A large proportion of my practice is working with private credit funds on complex lending transactions. But I also work with a number of private equity sponsors and corporates on a variety of UK and cross-border acquisition finance /corporate lending transactions. The financings that I work on are typically to support private equity-backed buyouts, management buyouts, mergers and acquisitions, or refinancing and restructurings of leveraged assets. I am fortunate enough to work with some of the leading private credit funds and private equity houses in the industry.

'Leveraged finance is a very demanding practice area. It is a lifestyle choice that many women (and men for that matter) do not want to opt for'

I enjoy the intellectual and commercial rigour of working in this area. Being a transactional lawyer also requires a lot of collaboration and is very team-based. I love working with my partners and our team of associates to deliver positive outcomes for our clients, as well as navigating complex deal terms with lawyers on the other side. Importantly, my client base and the deals that I have executed demonstrate that women can thrive in this sector. It is an exciting industry to be in and I would advise women not to be put off from joining a practice area that they perceive to be male-dominated – at least you will stand out! Working hard, building good relationships with clients and colleagues, and producing results is what matters in the long run.

Role models and mentors are incredibly important, no matter what point in your career you are at. We also should not underestimate the importance of sponsors. Mentors are there to provide guidance and counselling whereas a sponsor is there to ‘bang the drum’ for you in every room that it could matter.

I have been very fortunate to have worked with two partners since I was a trainee. They have been hugely supportive of my professional growth since my training contract back in 2006, giving me secondment opportunities early on, as well as the opportunity to move firm as a team. They continued to support me through my elevation to partnership and beyond.

There is a perception that mentors, sponsors and role models are something you need only early on in your career. That is just not true. There are at least three senior female partners at Dechert with whom I have the privilege of working. They are role models to me and some of them have also become mentors. I also mentor a group of associates coming through the ranks at Dechert in the hope that I can pass on to them some of the important lessons I have learned over the years.

I am a professional ambassador for Aspiring Solicitors, providing support for graduates from underrepresented areas in law to pursue a career through coaching, mentoring and work experience. I became involved with the initiative during my time as a senior associate and have continued to work closely with AS since taking on the role of graduate recruitment partner in London (which I undertake with three fellow partners). The legal industry has had a number of barriers to entry, and we are very thoughtful about ensuring that diversity, equity and inclusion remains a part of our recruitment ethos. AS has been a great partner for us in helping to break down those barriers.