Stephen Jacobson, a busy executive compensation and benefits partner at Vinson & Elkins in Houston, is moving to Kirkland & Ellis, two sources told The Texas Lawbook.
Jacobson’s last day at V&E is March 1 and he’s expected to start at Kirkland on March 2, the sources said.
A Kirkland spokeswoman wouldn’t comment and neither would Jacobson. Spokespeople at V&E didn’t respond to requests for comment.
Jacobson will make the second compensation partner Kirkland has poached from other firms so far this year. Last month, Rob Fowler joined Kirkland after 15 years at Baker Botts, where he was a partner.
At the time of his hiring, Fowler told The Texas Lawbook that Kirkland planned to build an executive compensation team in Texas with both lateral hires and by developing young transactional lawyers with an interest in the practice.
Jacobson, who has spent his entire legal career at V&E, made partner at the firm in 2016 and is thought to have a good book of business.
The Tulane-trained lawyer advises public and private companies, private equity firms and their portfolio companies on employment, compensation and benefits matters in transactions.
The attorney also advises clients on the tax, securities law, corporate governance and disclosure implications of equity and cash-based incentive plans and aids management teams and executives in negotiating employment, separation and incentive agreements.
Earlier this month, he was part of the team that advised Plains All American Pipeline on the $155 million sale of a 20% stake in the Saddlehorn pipeline to Black Diamond Gathering, a joint venture between Noble Energy affiliate Noble Midstream Partners and EnCap Flatrock Midstream-backed Greenfield Midstream.
Jacobson weighed in on at least 25 deals last year, including advising private equity-backed Momentum Midstream on the sale of its stake in a natural gas gathering system and pipeline in Louisiana’s Haynesville shale in October to DTE Energy unit DTE Midstream for $2.25 billion.
Also in October, he was part of the group that advised Roan Resources Inc. – which was split off from bankrupt Linn Energy – on its sale to Warburg Pincus-backed Citizen Energy Operating for $1 billion.
Jacobson also pitched in on advising Osaka Gas Co. Ltd. on its purchase of Sabine Oil & Gas Corp. this past July for $610 million and Oryx on its sale to Stonepeak Infrastructure Partners in April for $3.6 billion.
Oryx – the largest privately held midstream crude operator in the Permian Basin – had several investors, including Quantum Energy Partners, Post Oak Energy Capital, Concho Resources and WPX Energy.