Alumni Spotlight: Gordon Cruess

Gordon Cruess, managing director, Global Transactions, and associate general counsel at General Atlantic, L.P., practiced in the firm’s Corporate Department in the Mergers and Acquisitions group from 2011 to 2015.

Tell us about your professional experience. What led you to go to an in-house position?

I actually wasn’t looking to go in-house. I was very happy at Paul, Weiss and envisioned myself as a partner there! But I’ve always tried to have an open mind about my career, and I’d done a lot of work for General Atlantic while I was at Paul, Weiss. I knew a lot of the players, including our Chief Legal Officer Chris Lanning, who I report to and who has been a key mentor to me for over a decade. I had a good sense of the culture and the role of a deal lawyer at General Atlantic. You have to be very nimble and alignment-oriented in growth equity, where you are partnering with founders, management and existing investors. It’s a very creative and business-oriented approach to getting transactions done. 

When General Atlantic reached out, I was enthusiastic about learning more about how the firm operated, and excited to join a place that was growing fast, where there was a role with a lot of opportunities to develop. So, I bet on myself and took the leap. I was also very happy that I would get to continue to work with Matt Abbott and the rest of the General Atlantic team at Paul, Weiss, many of whom I view as partners and close friends. 

You have been with General Atlantic for nearly 10 years. How has your role evolved since you first joined in 2015, and what does an average day look like now?

When I joined, we were about five times smaller in terms of assets under management and four times smaller in terms of head count, not to mention much smaller in terms of capital deployed and returned. We have gone from one product – growth equity – to several. My bread and butter is still helping deal teams effectuate their investment objectives, work with portfolio companies and ultimately exit, but I’ve also gotten involved in projects to grow the enterprise. Chris Lanning and Kelly Pettit, my counterparts in funds and compliance, are key partners day-to-day, and we’ve created a world-class legal and compliance function that we are very proud of. It’s been a blast!

Looking back, what do you consider the most valuable skills or experiences you gained during your time at Paul, Weiss?

I was exposed to a wide variety of work that made me a better lawyer and advisor, even if not all of it was directly correlated to my day-to-day job today. In addition to private equity and a wide variety of sponsor-backed M&A, I did a lot of public M&A, activist work and corporate governance work, among other areas of work. I was given a lot of responsibility, led deals and got to know the key players in the supporting practices for sponsor work. Private equity is getting more and more complicated, and the more arrows you have in your quiver, the better. 

More fundamentally, I was drawn to Paul, Weiss at a time it was taking market share from more established corporate practices, and I was invigorated by the entrepreneurial spirit and ambition that underpinned that performance. There was a humility to Paul, Weiss lawyers, bolstered by a willingness to work tirelessly at a world-class level to achieve great outcomes for their clients. I grew up playing team sports, so that attitude was familiar to me, and Paul, Weiss taught me a lot about how to apply that mentality successfully in the business world. Ask yourself what your role is and what is required of you to help your team win. Watch closely, be adaptable and think about how you can apply your strengths so that you can play more senior roles effectively as you grow professionally.

What advice would you give to current Paul, Weiss associates who are interested in transitioning to roles in private equity or venture capital?

Act for a lot of different sponsors. Work your butt off in your 20s and 30s so that you have a reference point for the myriad of situations you will see in your career, and so that you can see the forest for the trees in your 40s and beyond. To be a creative, trusted advisor, you need to put in your 10,000 hours, to borrow from Malcolm Gladwell.

Who were some mentors who inspired you? How have they impacted your work and relationships today?

Several Paul, Weiss partners, including Matt Abbott, Neil Goldman, Bob Schumer and Ken Schneider, and a former Paul, Weiss partner, James Schwab (Corporate M&A, 1987–1991; 1992–1999; 2001–2014), now a senior advisor and lead mentor to the Dalio Family Office, were instrumental to my growth as an effective, commercial lawyer. They taught me how to focus on what’s important, follow the money and not compromise on quality. Brian Lavin and Ellen Ching, also at Paul, Weiss, are my contemporaries, and I’ve always admired their work ethic and unflappable dispositions. It doesn’t hurt that these are all really good people, who, in addition to always being there for me, are really fun to be around. There are a lot of people who can do this job from a technical perspective, but fewer who are fundamentally decent people with EQ as high as their IQ.

How has your perspective on the legal industry changed since moving to the private equity industry?

Being able to spot issues and draft well isn’t enough. I have a lot going on even at the ebb points and need to get to the best judgment quickly. I need thought partners who can help calibrate risk, who understand different markets. Networks are important – my network, but also my advisors’ networks. The world is big and complicated, and knowing the right person to talk to about a given issue – or knowing someone who knows the right person – is critically important. At the same time, the world can be small; you will encounter people from prior experiences at unpredictable times, and being known as someone others can work with will pay dividends. Your reputation is critical; don’t ever compromise it.

What is the most challenging aspect of your job from a legal perspective?

Every day is different; every deal is different. The portfolio is large and is much more complex than it was 10 years ago. New issues crop up all the time. The good news is, after many years of it, I feel pretty comfortable being uncomfortable, and I’m never bored.

Are there any emerging trends in the private equity industry that you find particularly exciting or challenging?

The asset class is mature, and there is a lot more competition than there was even 10 years ago. The winners are going to be places that stress and achieve investment excellence at scale, that have good cultures, that don’t compromise on doing the right thing, and that understand that doing deals isn’t a zero-sum game. All boats should rise in a partnership, and that’s the attitude with which we approach our companies, our capital partners and the communities in which we operate.

Looking ahead, how do you see the relationship between law firms and private equity firms evolving?

I’m not sure it’s a change so much as an observation – all sponsors are different, and we benefit a great deal from the depth of our relationship with Paul, Weiss and the rapport we have with other advisors in the markets in which we operate. Having advisors who know the players and who understand our increasingly complicated structure and how we approach deals is critical. I think that goes for most large sponsors. It’s a relationship business, and having outside partners who know you and can be responsive to your needs without having to come up to speed is invaluable.

Tell us about your life outside of work. What are some of your favorite ways to unwind or spend your free time?

I am blessed to have an amazing wife, Lindsay, and two beautiful kids, Will and Sophie, who are now 10 and 7, respectively. We love our family time, traveling and goofing off together, and spending time with extended family during the summer in Canada, where Lindsay and I come from. I’m an avid skier and will forever be an aspiring golfer. I love working out  – it makes me feel better and sharper. I’ve gotten pretty into chess since General Atlantic acquired an interest in Chess.com! I love reading, I’m glad we live in the golden age of television, and I love the outdoors and being on the water. I love life … you’re never too old for new passions, and I firmly believe your mental age is more important than your biological age!

Looking back at your career journey, what’s one piece of advice you’d give to your younger self about balancing professional ambitions with personal fulfillment?

There are probably a few family and personal events I didn’t attend because of work that I could have managed. Obviously, you need to prioritize. We are all busy, but in making these decisions, ask yourself if you’ll regret not being there in 10 years. Stay physically active, and don’t take your health for granted. Being able to keep up with kids and younger people and to fully enjoy your friendships and the beauty of life is more important than anything.

Always remember if you do want to go in-house that you only leave Paul, Weiss once. Think about the relationships you have inside and outside the firm and how you can leverage them to find the best fit for you. Don’t reactively take a job because you’ve had a few hard months. Don’t be afraid to speak to your mentors about the kind of career and opportunities you’re looking for.

Tell us about some of the professional accomplishments and pursuits that you are most proud of.

General Atlantic has a deep and authentic commitment to philanthropy that is core to our origin and culture. I’d encourage anyone to read The Billionaire Who Wasn’t, which is a terrific story about the life and work of Chuck Feeney, our original capital partner. I’m proud to be involved as a board member with Project Morry, a nonprofit that makes a 10-year commitment to kids from under-resourced communities in the tri-state area beginning in their fourth grade year, preparing them for college and the work force, and providing an impactful multi-week overnight camp experience each summer upstate at Morry’s Camp. I’m also involved with our local church in Pelham, Huguenot Memorial, and am proud to contribute to my alma matter as a member of McGill University’s regional advisory board for the Northeast.

How do you approach mentoring or giving back to the community, both professionally and personally?

I’m always thrilled to talk to young people about their careers and aspirations. If you’re reading this and want to talk, please reach out! Young people are so talented, and their energy is infectious, but the biggest favor you can do for yourself is to surround yourself with great people you’re learning from daily. The best piece of career advice I ever got was actually at my commencement. Lorne Michaels, the creator of SNL, was the speaker, and in addition to being very funny in his signature dry manner, he told us in all seriousness, “If you find yourself in a room and you’re the smartest person there, you’re in the wrong room.” I took that to heart, and I’ve been very fortunate to work at places like Paul, Weiss and General Atlantic, where I’ve never found myself in the wrong room!