Key Takeaways
- • Kirkland & Ellis launches its first Tokyo office, marking the firm's initial Asia expansion outside Greater China, positioning itself to capture growth in Japan's thriving private equity and M&A market.
- • The Tokyo office opens with three lateral hires from major U.S. law firms: debt finance partner Clara Shirota (from White & Case), private equity and M&A partner Naoya Shiota (from Morrison & Foerster, former White & Case), and counsel Catherine Simes (from Ropes & Gray).
- • Shirota brings substantial experience in leveraged acquisition finance and complex bank/bond transactions, with recent mandates including CVC Capital Partners' $1.2 billion acquisition of Japanese pharmacy operator Sogo Medical Group and EQT's $1.1 billion sale of Pioneer Corporation.
- • Japan's private equity market has emerged as one of the world's most attractive for investors, supported by strong returns, a growing deal pipeline, and ongoing corporate transformation, creating substantial opportunities for law firm expansion.
- • The new office will focus on private equity, M&A, and leveraged finance advisory, targeting complex transactions and positioning Kirkland to serve both domestic and international sponsors seeking exposure to Japan's capital markets.
Summary
Kirkland & Ellis, one of the world's largest corporate law firms, is establishing a Tokyo office in 2026, signaling intensified institutional focus on Japan's expanding private equity and mergers and acquisitions markets. The move marks the firm's first geographic expansion in Asia outside of Greater China, reflecting strategic recognition that Japan has become a premier market for complex deal-making and sponsor activity.
The Tokyo office will be anchored by two partner-level lateral hires from competing U.S. firms. Clara Shirota, a debt finance partner specializing in leveraged acquisition finance, refinancings, and complex bank and bond transactions, joins from White & Case, where she spent her most recent tenure advising private equity sponsors and strategic investors. Naoya Shiota, a private equity and M&A partner, transfers from Morrison & Foerster and was previously at White & Case, where the two partners developed a working relationship. The firm also hired Catherine Simes as counsel, an M&A specialist who joins from Ropes & Gray. Kirkland chair Jon Ballis emphasized that the trio's experience across private equity, strategic transactions, and leveraged finance would be "invaluable as we broaden our Asia footprint into Japan, where we see strong momentum for complex transactions."
Shirota's track record underscores the scale of capital flowing into Japanese transactions. Her recent mandates include advising CVC Capital Partners on the financing aspects of a $1.2 billion acquisition of Japanese pharmacy operator Sogo Medical Group and EQT on a $1.1 billion sale of Pioneer Corporation to Singapore-based CarUX Holding. She holds admissions in New York, Hong Kong, and England and Wales, and is registered as a foreign lawyer in Japan, positioning her to navigate both international sponsor requirements and local regulatory frameworks. Her decade-plus tenure at Clifford Chance prior to White & Case adds substantial depth in cross-border finance structures.
The Tokyo expansion arrives as Japan's private equity market consolidates its position as one of the world's most attractive for institutional investors, supported by strong relative returns, a robust pipeline of acquisition targets, and accelerating corporate transformation efforts. Multiple law firms are recognizing that the market now warrants dedicated on-the-ground presence rather than advisory relationships managed remotely. Kirkland's move signals confidence that Japan represents sustained, material opportunity for the firm's transactional practice and justifies the commitment of senior talent to establish local institutional depth.
The Tokyo office will be anchored by two partner-level lateral hires from competing U.S. firms. Clara Shirota, a debt finance partner specializing in leveraged acquisition finance, refinancings, and complex bank and bond transactions, joins from White & Case, where she spent her most recent tenure advising private equity sponsors and strategic investors. Naoya Shiota, a private equity and M&A partner, transfers from Morrison & Foerster and was previously at White & Case, where the two partners developed a working relationship. The firm also hired Catherine Simes as counsel, an M&A specialist who joins from Ropes & Gray. Kirkland chair Jon Ballis emphasized that the trio's experience across private equity, strategic transactions, and leveraged finance would be "invaluable as we broaden our Asia footprint into Japan, where we see strong momentum for complex transactions."
Shirota's track record underscores the scale of capital flowing into Japanese transactions. Her recent mandates include advising CVC Capital Partners on the financing aspects of a $1.2 billion acquisition of Japanese pharmacy operator Sogo Medical Group and EQT on a $1.1 billion sale of Pioneer Corporation to Singapore-based CarUX Holding. She holds admissions in New York, Hong Kong, and England and Wales, and is registered as a foreign lawyer in Japan, positioning her to navigate both international sponsor requirements and local regulatory frameworks. Her decade-plus tenure at Clifford Chance prior to White & Case adds substantial depth in cross-border finance structures.
The Tokyo expansion arrives as Japan's private equity market consolidates its position as one of the world's most attractive for institutional investors, supported by strong relative returns, a robust pipeline of acquisition targets, and accelerating corporate transformation efforts. Multiple law firms are recognizing that the market now warrants dedicated on-the-ground presence rather than advisory relationships managed remotely. Kirkland's move signals confidence that Japan represents sustained, material opportunity for the firm's transactional practice and justifies the commitment of senior talent to establish local institutional depth.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.