Photo by Emma Howie.
In a move that sent shockwaves through the private equity and legal communities alike, Taurie M. Zeitzer – one of the top M&A lawyers in the world – walked away from White & Case barely a year after joining the firm in a headline-making move. Her destination? Not another megafirm. Not a cushy board seat. But something far more daring: her own strategic advisory firm, built from the ground up, and styled to disrupt the very system she helped dominate for decades.
For an industry that measures boldness in 15-minute increments, Zeitzer’s exit was nothing short of explosive. It’s the kind of move executives do – not necessarily lawyers. But Zeitzer is no ordinary attorney. For more than two decades, she’s been the dealmaker’s favorite – knitting together multi‑billion-dollar buyouts, carve‑outs, cross‑border tie‑ups and turnaround strategies at Paul, Weiss, Kirkland & Ellis, Latham & Watkins, and most recently, co-heading the Global Private Equity group at White & Case.
Now, she’s charting her own course. And as it turns out, the market is ready.
In her freshly minted TZ5525 Advisory Group, Zeitzer promises something more nimble, more personal and more tuned to an industry she says has “entirely different” fault lines than before.
“This market is unlike anything we’ve seen before,” says Zeitzer, who is working with national and international clients in their most high-stakes transactions. “These complexities create new opportunities – like redefining how to partner with clients to develop and implement creative and effective solutions.”
Zeitzer’s new firm isn’t just a boutique law shop. It’s a hybrid beast: part strategic advisory, part legal quarterback, part fixer – and all designed to serve a breed of clients who need more than just term sheets and diligence checklists. Her client roster, after all, has included Apollo Global Management, Searchlight Capital Partners, Gamut Capital, Cox Media and Shutterfly – organizations that don’t just transact, they transform.
Zeitzer has been at the center of those transformations. She helped lead Apollo’s $8.1B acquisition of Univar Solutions, the $5.2B take-private of Arconic Corp., and the $5B acquisition of Yahoo! and AOL from Verizon. These kinds of seismic moves are highly intentional – deals that build empires.
And now, Zeitzer is fashioning an empire of her own.
In a profession that often looks askew at risk and rewards deference, Zeitzer is choosing something else entirely: control, vision and velocity. And if her track record is any indication, the rest of the market would be wise to pay attention.
Lawdragon: Tell us about the impulse behind starting the new firm.
Taurie Zeitzer: There were a few key factors that made the timing perfect for me. First, where I was in my career – I’d spent years leading large M&A transactions and teams at top law firms, building both the expertise and a strong, sophisticated network needed to execute complex deals. It takes time to get to a place where something like this is even possible.
The second factor was more specific to this past year. I tend to think in school years because I have a 16-year-old, but in calendar terms, the market has changed significantly. I had several in-depth conversations with clients – people I’ve worked closely with for a long time – about the challenges in the M&A environment: how to get private equity LBOs done despite tough financing conditions, the impact of elections, tariffs and so on. As often happens, challenge brought opportunity. Those conversations evolved into new ideas about how we might partner differently in this environment.
Say a firm wants to be the next sophisticated global asset manager and acquires a platform – once the deal closes, the team moves on, and the GC is left to handle integration. That’s where I step in.
That led to the concept behind my new firm. Even within just a few months, I’ve found I can work with both existing and new clients in ways that weren’t really possible when I was a law firm leader. In that role, you're balancing a lot – client service, yes, but also managing international offices and broader firm priorities. This new structure lets me focus on what I enjoy most: working closely with clients and helping them solve problems.
It also opened the door to work with clients I might not have otherwise, particularly what I’d call New York-facing clients – global capital looking to enter the U.S. market and needing sophisticated deal counsel to navigate it. I’ve found I can plug into that more easily now.
A key shift is the flexibility I now have to handpick teams tailored to each deal. At top law firms, assembling world-class teams was easy – we had or could get the talent – but now I can choose the exact people best suited for each transaction, especially when nuanced issues arise. This model also lets me engage earlier and operate outside traditional billing structures, allowing for a more collaborative, customized approach that better serves clients.
LD: That’s great. So how do you structure your collaborations now that you're independent?
TZ: It’s really a network of firms now, and in some cases, I’ve become the client to those I used to work with – it all depends on the situation. Some clients, like GCs at funds without large legal teams, need help with governance or integration. Say a firm wants to be the next sophisticated global asset manager and acquires a platform – once the deal closes, the team moves on, and the GC is left to handle integration. That’s where I step in – something I wouldn’t have done as an M&A partner.
I also get brought in early on deals, which I love. It’s a bit old-school – someone has an idea, and we start shaping it before diligence even begins. That early, strategic input matters more now because executing deals is harder. The macro climate – elections, policy shifts, rising rates – has slowed deal flow and valuation gaps between buyers and sellers add friction. But I don’t see that as a negative. I believe tough markets are when we do our best work.
There’s also real innovation – private credit stepping in, asset managers using broader tools, new structures emerging. What I value most is being able to plug in early, without the internal demands of a law firm. That experience was foundational, but this is the right move – and the timing couldn’t be better.
LD: And you’re not following the traditional billable hour model?
TZ: That’s right. As an advisor, there's more flexibility in the models you can offer. So without getting into too much detail, you can have a conversation upfront about what makes sense for that particular project. And having flexibility around billing is especially valuable now, as technology like AI starts to reshape how legal work gets done. Tasks that once took hours can now be completed with the press of a button. It raises the question: Why are we still tied to a model that rewards time spent over outcomes delivered?
The billable hour has always struck me as a bit counterintuitive. There’s this inherent tension: Firms want to deliver efficiently for clients, but they're also structured to bill time. It’s particularly tough on junior lawyers – billing more may show you’re working hard, but it doesn’t always reflect the value you're creating.
Now that I’m running my own firm, I can structure things differently. I offer fee models – retainers, flat fees, transaction-based pricing – that better align with the problem at hand. It’s not something clients asked for, but something I knew made sense from a business perspective. At the end of the day, the best transaction lawyers act as true business partners – and that means rethinking old structures when they no longer serve the work.
At top law firms, assembling world-class teams was easy – we had or could get the talent – but now I can choose the exact people best suited for each transaction.
LD: How big is the firm now?
TZ: It’s intentionally still evolving. For now, I’m keeping things flexible – leading an external network and bringing in the right talent for each situation. That could change if, say, a client in Abu Dhabi needs long-term, multi-layered support. But right now, this approach fits. After years running elite teams at top firms, it’s energizing to work in a way that feels more aligned with where the market is headed. There’s real enthusiasm around this model. That foundation is critical – running high-performing teams at top firms is what makes this approach work now.
The conversations I’m having are sharp – focused on what’s missing in today’s advisory model, how to improve execution, solve problems or help firms break into new markets. For international clients entering the U.S., it’s often about building a playbook and defining their edge. A lot of that thinking comes from my time advising Apollo. Our relationship began during Fund IV, when private equity was still early-stage, and saw them grow into one of the world’s top asset managers. I was in the room for pivotal moments – from product launches to the IPO – and even hand-delivered documents to founders before we had BlackBerries. That experience shaped how I advise today.
LD: Tell us about your client base now?
TZ: It’s a top-tier, highly sophisticated client base. I continue to work with existing clients, but I’ve also plugged into new situations – no names, as discretion is how I run my business. These are serious industry players, often entering New York or looking to scale or diversify – adding private credit to private equity, launching new platforms, that kind of thing.
The needs vary, which keeps it interesting: smaller but highly sophisticated asset managers testing this model at different scales, top-tier family offices with deep capital now seeking more strategic deployment, and non-U.S. firms – from Europe, the UK, Asia and the Middle East – looking to tap into U.S.-style dealmaking. There’s still massive global capital chasing entry into what remains the most dynamic market in the world.
LD: Looking back, is there a deal from your career that stands out as a favorite or particularly formative?
TZ: Having worked mainly with Apollo, every deal has been interesting – no cookie cutters. But a couple stand out. One is Apollo’s purchase of Taminco Chemicals in Europe. I’d worked on many industrial deals with them before, so it was right in our wheelhouse. What made it memorable was the classic M&A drama: We were locked in a room in Belgium for five days – no heat, no food, no sleep – with a competing bidder in the next room. Nobody left for fear of losing negotiating ground.
I was a young partner leading an all-female M&A team, which was unusual and something I’m proud of. We had to craft U.S.-style protections within a European framework. We worked through the night with litigators on the phone in New York. It was a classic high stakes deal with tough tactics and a great win for my client. I was the lead with no one senior to call for backup. It was a big moment for me.
LD: Can you take us way back to why you first decided to become a lawyer, and why you chose M&A as your practice?
TZ: I became a lawyer because of my love for writing. At Duke, I studied literature and political science, but writing was my passion. At Columbia Law, I published a journal article and interned with a federal judge on a RICO case, which hooked me on legal logic and argument. But litigation didn’t fully satisfy me – it often takes years and lacked the quick problem-solving I craved.
The macro climate – elections, policy shifts, rising rates – has slowed deal flow and valuation gaps between buyers and sellers add friction. But I don’t see that as a negative. I believe tough markets are when we do our best work.
I stumbled into private equity and deal-making by chance, working as an associate on Apollo’s first billion-dollar deal – a carve-out from Shell Oil. This was old-school negotiation: months spent in Houston, daily in-person talks, dinners strategizing next steps. It was intense and immersive and it laid the foundation for my professional relationships. That deal introduced me to some of the most sophisticated minds in the industry and hooked me on M&A and Apollo. From that moment, I knew this was my path.
LD: What does it take to be great in this field?
TZ: Dedication and constantly honing your craft. You need to stay current on the law and understand enough across specialties to keep deals on the right path.
Authenticity is key. Credibility comes from being honest and knowing when to say no. You have to have the courage to advise against deals just as you would push for them. That takes confidence, and the judgment to bring in experts as needed, rather than guess.
Above all, trust and relationships matter. True leadership in M&A means showing up, staying committed and being reliable. That’s how you become a real business partner to your clients – not just a lawyer. You have to understand their priorities and risk tolerance, and how they think.
The edge often comes from going where others won’t – doing due diligence others avoid, tackling complexity head-on. Great advisors don’t just flag risk – they help quantify it, price it and solve for it. That’s how you stand out, especially in tough markets.
LD: How do you balance being commercial with protecting your client?
TZ: It’s about prioritizing what matters. You can’t ask for everything or you lose the deal. You have to understand the investment thesis – whether they’re growing, selling or doing a roll-up – and tailor your strategy accordingly. That nuanced approach is what makes this work both challenging and rewarding.
LD: You mentioned you were a literature major. What’s the last great book you read?
TZ: I recently re-read a Coco Chanel biography over the summer while in the South of France with my son. I’ve read a few, but this one focused more on her business instincts – how she kept her brand strong through major global challenges. She ran a business on her own in a completely different era. I found it both inspiring and fun.
I also have a side passion for fashion, so it brought two worlds together. It’s become more than a personal interest. I’ve met global business leaders – people from London, Geneva, Shanghai, Dubai, Abu Dhabi – at fashion events I wouldn’t meet through typical legal circles. It’s been fun and good for business.
LD: Very smart. I also imagine you’re getting a flood of resumes for the new firm.
TZ: I am. And I do plan to grow, it’s just a matter of which specialties to bring in-house versus keep outside. Scaling is absolutely part of the vision.
LD: You’re building something people want to be a part of.
TZ: That’s the goal – creating an environment where people can do what they love and actually enjoy it.
