A typical pro bono matter for senior associate Jason Webber (New York) would be a dream deal for most corporate associates: complex financial issues, exotic jurisdictions, partner-level responsibilities and frequent interaction with a business-savvy client.

Until recently, associates in transactional practices rarely found meaningful pro bono opportunities requiring their particular legal skills. But a new nonprofit and philanthropic trend demands precisely the sort of sophisticated transactional work that the Firm's associates provide.

A new world of pro bono transactions

Webber coordinates much of the Firm's pro bono work for Acumen Fund, Inc., a nonprofit fund with a market-oriented approach to solving global poverty and related problems. Acumen Fund provides financial investments and other resources to stimulate economic development and to support enterprises that serve impoverished communities in developing countries.

As part of their work for Acumen Fund, teams of associates throughout the Firm — in mergers and acquisitions, project finance, banking and other transactional practices — structure, negotiate and close intricate financing deals. These include: a $1.1 million investment in a company that places pharmacy kiosks in underdeveloped rural areas of India (where medicines are otherwise not available); a guaranty of a $50 million portfolio of home mortgage loans to be issued to low-income Pakistanis; and a loan to a foundation that trains local entrepreneurs throughout the developing world to give basic eye exams and sell affordable reading glasses in their communities.

Anjali Kumar, Acumen Fund's general counsel, sees our lawyers as key business advisors who make it possible to carry out the fund's deal-based approach to philanthropy. "White & Case has developed a special relationship with us, and their team has become literally mission-critical to the work we do," she says. "As a nonprofit, we could never afford to pay for such high-quality transactional legal services."

According to asset finance partner Mike Smith (New York), a primary contact for Acumen Fund, these pro bono transactions mirror the complex, cross-border deals that the Firm regularly handles. "Acumen Fund ventures into regions where many for-profit companies hesitate, such as parts of sub-Saharan Africa and South Asia," Smith explains. "In working with local counsel, we gain a greater understanding of the law in these jurisdictions, giving the Firm even more global exposure."

As a result, Acumen Fund transactions in these countries have been included in several recent client pitches and deal lists outlining the Firm's global experience. In other words, helping Acumen Fund achieve its philanthropic goals is also enhancing the Firm's business development efforts with billable clients.

Everyone wins

In addition to the Acumen Fund deals, corporate associates are working on other pro bono transactional matters, including microfinance lending initiatives, debt-for-nature swaps, licensing arrangements and similarly sophisticated projects.

Associates who participate in these transactions gain many advantages, including opportunities to:

• Take on higher-level challenges With pro bono deals, associates frequently tackle tasks handled by more senior lawyers on billable matters. Junior associates may draft documents and help discuss important business issues. Most associates call pro bono clients directly, build relationships with decision-makers and learn more about clients and their needs. Webber manages multiple teams of associates on Acumen Fund pro bono transactions, coordinates conflict checks and staffs the deals — skills that few associates get to practice. At the same time, there are many senior lawyers to call upon when advice or guidance is needed.
• Brainstorm creative, complex transactions Nonprofit groups like Acumen Fund may be willing to incur different types and degrees of risk and may have a different time horizon than many for-profit clients. As a result, lawyers working on these deals address issues that might not arise in transactions for our other clients and must be more creative than usual in structuring solutions that will work for our pro bono clients and the other parties in these transactions.
• Learn about more legal systems around the world Practicing law at a global firm becomes even more interesting when it includes working with local counsel in distant regions of the developing world.
• Gain a sense of satisfaction Historically, disadvantaged individuals and groups didn't benefit from sophisticated, complex financings. But now corporate associates find that their years of schooling and practical training can help thousands of low-income people drink clean water, purchase medications and start businesses in poor communities.

Pro bono work also brought Jennifer Kettner (New York) a rare and wonderful opportunity for a first-year associate — the chance to act as in-house corporate counsel for two weeks last month when Acumen Fund's general counsel went on vacation.  She served as a resource to help staff members find information on legal topics and participated in a number of internal meetings. "In addition to gaining valuable insights into the relationships among the business team, in-house counsel and the outside legal team, I learned a lot about how clients perceive and use law firm services. Before this, like most of my peers, I had only been exposed to the 'sell-side' of legal services," Kettner reported.

Getting involved

For information on participating in Acumen Fund (www.acumenfund.org) pro bono deals (there are plenty of opportunities), get in touch with Jason Webber or Mike Smith. And to learn about other exciting pro bono transactional projects or to suggest new ones, contact James Stillwaggon, the Firm's pro bono counsel.

Associates who volunteer for these new types of pro bono transactions improve the lives of thousands of people in developing countries, receive valuable training and help the Firm's business development efforts — a win-win situation for everyone involved.

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© 2007 White & Case LLP