About

As a lawyer sitting on Berkshire’s board of directors, Shar Heslam is something of a trendsetter in the private equity industry. She was the first specialist (ie not from an investment background) to do so, although these days, four out of Berkshire’s 17 partners fit that description. This is reflective of an industry that has matured rapidly and is now regulated, so having a lawyer on board is now key. Heslam was appointed in 2006 as the firm’s first GC, and says ‘I can help with the legal side and free up the others’ time for investments’. And of her elevated position as MD, which she’s had since 2011, she says ‘As an M&A lawyer at Weil Gotshal’s Boston office, which is relatively small, I always had a management-type role so my experience was very transferable’. By championing internal collaboration, Heslam has played a major part in managing Berkshire’s transition to becoming a much more professional set-up, without upsetting the natural order of things. ‘Private equity was one of the last bastions of a small firm industry so we have to be careful not to throw the baby out with the bath water. But for better or worse, we now have more processes and more resources’.