Lyceum commits £25m to enter LPO market in Laureate venture

Lyceum Capital has taken its first steps into legal outsourcing, with the private equity house committing £25m to back new business process services group Laureate Legal Services (LLS).

LLS, which was formed six months ago, is in discussions with a number of major City firms about both business and legal process outsourcing and is hoping to sign deals with two firms within the UK top 30.

BPO contracts taken on by LLS would see the work remain in the UK although the company is also considering offshoring legal work.

The first agreements are expected to see LLS use law firms' existing staff when they take on the work. However, the company is also considering buying businesses and resources in the human resources, accounting and IT fields.

Lyceum's investment into LLS is also an example of the company's growing commitment to the legal sector, as it remains intent on investing directly into law firms through opportunities offered by the Legal Services Act.

The deal with LLS will see Lyceum managing partner Jeremy Hand and operations partner David Harland sitting on the outsourcers' board.

Hand (pictured) said: "We are particularly attracted to new business models in the delivery of legal services. We are having conversations with law firms about a wide range of things and outsourcing is one of them."

He added: "Over time more and more firms will be open to new business models for doing things differently whether that is outsourcing, streamlining, acquisitions or joint ventures."

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