Business Development Manager - Private Equity

McGuireWoods Consulting architect retires after more than four decades with McGuireWoods. Sep 29, 2026 McGuireWoods partner and McGuireWoods Consulting senior advisor Frank Atkinson is retiring after more than four decades with the law firm and 28 years in the consulting group. Frank joined McGuireWoods in 1981 as a summer associate while a student at the University of Virginia School of Law. During that summer, he had a unique opportunity to work on a team defending Virginia's redistricting plan in federal court. Through that work, Frank forged relationships with some of McGuireWoods' most well respected lawyers, including then-chairman Bob Patterson and Anne Whittemore, as well as the late John Battle, Jr., Jim Sanderlin and Duncan Getchell. Though Frank knew from an early age he wanted to pursue a legal career, that summer changed his perspective on what that career might entail. "I had always thought that I would go back to my small town in Bowling Green, hang out my shingle as a small-town lawyer, and run for office," Frank said. "The idea of working for a large law firm didn't appeal to me, but I had such a remarkable experience that summer and was so impressed with the people I met that when they made an offer for full-time employment, I accepted it." Frank joined McGuireWoods as a litigation associate in 1984 after the first of two stints of public service in the U.S. Department of Justice (DOJ) during the Reagan administration. He served as an assistant to future Judge J. Harvie Wilkinson III during 1982-1984 and then returned to DOJ as senior counsel and deputy chief of staff to Attorney General Edwin Meese III in 1987-1988. In 1994-1996, Frank served in Virginia Gov. George Allen's cabinet as counselor and director of policy. Frank returned to McGuireWoods for good as a partner in September 1996. A principal founder of McGuireWoods Consulting, Frank presented the proposed business plan for the new bipartisan public affairs group to the McGuireWoods leadership, ultimately gaining support for the subsidiary's launch in 1998. Frank and other McGuireWoods lawyers, including future chairman Richard Cullen, Jackie Stone, Jim Dyke and Bill Broaddus, had observed that client needs often ranged beyond traditional legal work into government relations, strategic communications and related fields. "The law firm took a real leap of faith," Frank said. "I don't think any other firm would have been willing to chance it. There was not really a model for it in other law firms or public affairs firms. But clients saw the value in it from year one, and we were able to exceed revenue targets, so it was off and running and has grown steadily from there." McGuireWoods Consulting emerged from the notion that combining those services under the McGuireWoods umbrella would give clients a more complete strategy and the efficiency of one-stop service. "Frank's vision in founding McGuireWoods Consulting, his dedication to client service and his commitment to integrity have left an indelible mark on our firm," said McGuireWoods chairman Jon Harmon. "We are grateful for his countless contributions over more than four decades and wish him all the best as he embarks on a new chapter." Over the years, McGuireWoods Consulting has continued to reflect the strategic elements emphasized at its conception: a bipartisan firm that integrates state government relations, federal public affairs, strategic communications, grassroots coalition-building, and infrastructure and economic development across the country. The key factor in McGuireWoods Consulting's success has always been the people on the team and the culture of the firm, Frank said. "You want to create a place to work where you enjoy your colleagues, you do excellent work with integrity, and it's a mutually supportive environment with teamwork and collaboration," Frank said. "The culture is a living, breathing thing, and it doesn't happen unintentionally. It happens because people live those values, talk about those values, and celebrate those values." McGuireWoods Consulting director of planning and organization Betsy Beamer describes Frank as the "heartbeat" of the firm, fostering this positive environment from the beginning. "With the rare combination of brilliance, empathy, and uncompromising integrity, he sets the standard," Betsy said. "It has been a true privilege and career highlight to share a hallway with him for so many years." After 20 years leading McGuireWoods Consulting, Frank stepped down as the group's chairman in 2018 and became a senior advisor while continuing as a partner in the law firm. Mark Bowles, who had been a leader on the team since its launch, became McGuireWoods Consulting's new chairman. That same year, longtime McGuireWoods Consulting president L.F. Payne retired and was succeeded by the consulting group's current president, former Gov. Jim Hodges of South Carolina. "Frank established the foundation, culture, and platform that has made McGuireWoods Consulting one of the most successful government affairs firms in the country," Mark said. "His imprint is on each of our offices, and it is a legacy that we have been honored to help carry on as we grow the firm, recruit the best talent, and provide excellent client service." Frank's client focus on higher education and workforce and economic development helped produce major policy and investment measures that have enhanced Virginia's national standing as a talent and opportunity leader. He spearheaded business-education partnership initiatives in higher education such as Grow By Degrees and Growth4VA. Together with Chris Lloyd, the leader of the firm's infrastructure and economic development team, Frank worked on legislation to foster public-private partnerships and promote regional economic development through GO Virginia. "Frank Atkinson is one of the most respected voices in government, politics and law in the state of Virginia," said Jim. "He has built a career solving big problems and has pioneered the practice of building stakeholder partnerships to advance critical state issues like higher education and workforce development. While he is retiring from McGuireWoods Consulting, I have no doubt he will continue to contribute his many talents to making life better in Virginia." Frank has served the community on various governmental and nonprofit governing boards. A current favorite is NextUp RVA, which coordinates after-school programs for Richmond city middle school students. He previously served on the University of Virginia board of visitors, the Jamestown-Yorktown Foundation board of trustees, and the governing board for James Madison's Montpelier. He chaired the national commission that helped plan the commemoration of Jamestown's 400th anniversary in 2007. In addition to his client and public service endeavors, Frank is also an accomplished writer. He has published three books: two nonfiction works about modern Virginia politics titled The Dynamic Dominion (1992) and Virginia in the Vanguard (2006), as well as the recently released second edition of his novel, The Lion's Den, which addresses democratic renewal. The Lion's Den details the journey of Daniel Madison McGuire as he navigates an action-filled political arena that puts his values, morals and ethics to the test. The subtitle of the book is Renewing Its Democracy By Renewing Ourselves, and Frank hopes it will encourage readers to reflect on their own choices, whether in politics or day-to-day life. "We all want government we can be proud of. We want people in public life to behave in ways they and we can be proud of," Frank said. "But the only choices we can truly control are our own, and that's why the renewal of our democracy has to begin with each of us - with our own decision about what kind of person we choose to be." Frank views his retirement as a transition to full-time writing, and he believes his literary pursuits are the best way he can continue to contribute to the governance of the state and nation that have given him so many opportunities. At both McGuireWoods Consulting and McGuireWoods, Frank leaves a legacy of client service, collaboration and community. "I will always be deeply grateful for the lifetime I have spent here, for the wonderful friendships and fantastic experiences and the opportunities to do good work for clients as well as for the larger community," Frank said.

How first-time funds break through. The fundraising freeze is producing a smaller class of lower-middle-market winners with strong distributions, narrow strategies and multiple paths to an exit. As the independent sponsor universe expands, more firms are raising capital to back them and gain access to lower middle-market deals. New managers cannot manufacture a long record of distributions, but they can make themselves easier to underwrite. Here's how: First-time managers face a fundraising catch-22: LPs increasingly demand realizations from firms whose funds are not yet mature enough to produce them. Emerging managers cannot eliminate that disadvantage, but they can give investors other evidence. Co-investments, seeded portfolios, independently verified track records and disciplined early deals can show LPs how a new firm invests before it has accumulated years of distributions. That distinction has become more important as investors concentrate commitments with established firms, reduce the number of manager relationships they maintain and place greater weight on cash returns. Raising an inaugural private equity fund has always required investors to underwrite a team without a record. Now managers must demonstrate their ability to source, underwrite and improve companies while simultaneously building the institution that will oversee investors' capital. McGuireWoods law firm says emerging managers who have secured commitments share several traits. McGuireWoods focuses its practices on representing new firms and recently hosted the 4th Annual Emerging Manager Conference in Dallas. "While team and track record remain foundational, they are increasingly evaluated alongside clearly articulated strategies, demonstrated execution and repeatable value creation frameworks," the firm says. "Anchor and seeded portfolios play an increasingly prominent role in accelerating firm formation, providing early momentum but introducing long-term economic considerations that must be carefully managed." Other keys to success: * Start early. Fundraising can take up to 24 months. An introductory meeting may not produce a commitment for months or years, making sustained engagement more important than a concentrated marketing push. * Co-investments. Co-investments can shorten that courtship by allowing prospective LPs to evaluate a manager through a live transaction. Investors gain a direct view of sourcing, underwriting, risk assessment and decision-making that pitchbooks cannot provide. Even opportunities that do not close can demonstrate judgment and discipline. * Seed and anchor investments. A respected anchor investor can turn an uncertain fundraise into a viable one, giving the manager capital, credibility and momentum with other LPs. * Early execution. For emerging managers, the first deals are especially consequential. Investments that depart from the promised strategy may generate short-term fundraising momentum at the cost of long-term LP trust. Those steps do more than support the initial fundraising. They give LPs evidence that the manager can remain disciplined after capital begins arriving. Recent fundraising successes show that the first-fund penalty is not insurmountable. BayHawk Capital, founded by former THL Partners executives Jeff Swenson and Doug Haber, closed its inaugural fund at a $616 million hard cap this year, exceeding its $475 million target. Palm Peak Capital closed its debut lower-middle-market fund at a $374 million hard cap. Such firms enter the market with established records, industry relationships and tangible evidence of execution. Track-record attribution is another important test, particularly for teams that have spun out of larger firms. LPs increasingly verify a manager's claims through former colleagues, portfolio-company executives and other third-party references. They want to know who sourced an investment, served on its board, shaped its operating plan and helped produce the exit - not simply whether the deal appeared on a former employer's track record. The same scrutiny applies to the firm itself. Emerging managers must build credible finance, compliance and reporting functions earlier than they once did. Transparent communication is particularly important when a portfolio company misses expectations. LPs may tolerate an early setback, but they are less likely to forgive being surprised by one. Managers also need to resist raising more capital than their strategy and infrastructure can support. A larger fund can create pressure to pursue bigger companies, deploy capital faster or stray into unfamiliar sectors. For a new firm, a smaller pool deployed consistently may provide a stronger foundation for a successor fund than a larger vehicle accompanied by strategy drift. Recent successful fundraises show the first-fund penalty is not insurmountable. But the firms breaking through generally arrive with more than a polished pitch. They offer LPs a clearly defined strategy, independently supported track records and live examples of how they invest. Without years of distributions, emerging managers must manufacture other proof points. The firms most likely to win commitments are those that make an untested platform easier to underwrite - one relationship, reference and transaction at a time.

Mass Tort Litigation counsel Frank Talbott joins Hunton in Richmond. September 14, 2026 Hunton Andrews Kurth LLP is pleased to welcome nationally recognized litigator Frank Talbott, V, to Richmond as counsel in the firm's Product Liability and Mass Tort Litigation practice. With a focus on environmental, toxic tort, and consumer product litigation, Talbott regularly represents consumer product manufacturers, retailers, and online marketplaces defending consumer class actions and mitigating risks across the country. Talbott joins Hunton from his position as counsel at McGuireWoods, where he defended companies facing a wide variety of cases from claims of nuisance and false advertising class actions to civil enforcement, public interest litigation related to environmental statutes, and mass tort litigation. "Frank's arrival reflects our continued investment in a premier litigation team serving clients in the consumer products, retail, and e-commerce sectors, while further strengthening our toxic tort and environmental class action capabilities," said Alexandra Cunningham, head of Hunton's litigation team. "He is a highly regarded litigator with deep experience handling complex, high-stakes matters, and we are delighted to welcome him to the firm." A selection of Talbott's notable representations prior to joining the firm include: * Defense of the world's largest secondary ticket marketplace in a proposed class action, in which plaintiffs alleged failure to provide refunds for postponed and canceled events in response to the coronavirus pandemic. Led the defense that defeated class certification. * Defense of a private equity firm in numerous litigation matters regarding its investment in a solar panel retailer, for allegations of fraud related to consumer purchases and led the defense that obtained dismissal of over twenty individual actions. * Defense of an American multinational automaker in a public and private nuisance class action lawsuit in Missouri, seeking damages related to odors from the painting facility adjacent to the main assembly plant. * Defense of a Fortune 200 manufacturer in a public and private nuisance class action lawsuit in Virginia, seeking damages and injunctive relief related to alleged dust from a paper mill. * Defense of numerous online retailers in threatened and filed class actions related to strike-through pricing. Talbott earned his undergraduate degree from the University of Virginia and his law degree from the University of Richmond School of Law, cum laude. About Hunton's Product Liability and Mass Tort Litigation Practice Ranked as a top national practice in Chambers USA (2026) and The Legal 500 (2026), the product liability and mass tort team at Hunton brings depth of experience in crisis management, risk mitigation, and veteran trial lawyers essential to the development of a comprehensive and winning defense strategy. Its product liability and mass tort litigation practice provides clients the advice and counsel needed to develop a business strategy to avoid litigation where appropriate, and the talent and experience required to engage and resolve litigation where necessary. Its lawyers provide critical risk assessments and advise manufacturer and retail clients on other liability issues, including regulatory compliance, product recalls, product failure events, labeling, warnings and warranties.