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O'Melveny & Myers
O'Melveny & Myers Cash Balance Plan, launched in 2013, is a $180M vehicle for law firm equity partners, deploying a mezzanine strategy from Los Angeles.
O'Melveny & Myers
O'Melveny & Myers established its Cash Balance Plan in 2013 as a defined benefit vehicle for the law firm's equity partners, with operations run from the firm's Los Angeles headquarters. The plan represents the pooled retirement capital of the partnership rather than wealth generated by a single family or founder, operating outside the traditional single-family office or institutional pension framework. The plan's investment mandate centers on a mezzanine strategy, targeting subordinated debt and preferred equity positions in middle-market companies. Altss research indicates the vehicle structures exposure through fund commitments, direct co-investments, and select club deal participations, though the specific portfolio composition remains private. The firm's role as primary outside counsel to Breakthrough Energy Ventures — the climate technology fund backed by Bill Gates — creates a distinct sourcing adjacency for potential deal flow. With an estimated $180 million in assets, the plan operates alongside the $400 million O'Melveny & Myers Foundation, a separate philanthropic entity. The broader firm spans 18 global offices. In May 2024, the plan maintained its existing mezzanine allocation posture, with no publicly reported changes to investment leadership or mandate structure. Unlike standalone pension plans or typical corporate retirement vehicles, this plan is deeply embedded inside a partnership that also generates proprietary deal intelligence through its client relationships. The structure effectively allows the vehicle to function as an internal investment platform that sits adjacent to — but legally separate from — the law firm's core business.
General information
Firm type
Pension Fund
Year founded
2013
AUM
$180 million (Altss estimate)
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Principals
Bradley J. Butwin
Firm Chair and Partner
Frequently asked questions
Is the O'Melveny & Myers Cash Balance Plan open to outside investors?
No. The plan is a defined benefit vehicle exclusively for the equity partners of O'Melveny & Myers LLP. It is not a commercial investment fund and does not accept third-party capital.
What is the plan's primary investment strategy?
The plan deploys a mezzanine strategy, focusing on subordinated debt and preferred equity in middle-market companies. It may invest through direct co-investments, fund commitments, and club deals alongside other investors.
How does the plan relate to the O'Melveny & Myers law firm?
The plan is a cash balance defined benefit plan covering the law firm's equity partners. While legally separate, it benefits from the firm's deal flow intelligence — O'Melveny serves as primary outside counsel to funds like Breakthrough Energy Ventures, creating proximity to transaction opportunities.
Who oversees investment decisions for the plan?
Bradley J. Butwin, the firm's Chair, is the named principal associated with the plan's oversight. The full composition of the investment committee or any retained OCIO is not publicly disclosed.
Does the plan make fund commitments or only direct investments?
The plan engages in both fund commitments and direct co-investments, consistent with a mezzanine mandate. It may also participate in club deals, though the specifics of each allocation are not publicly broken out.
What is the connection to the O'Melveny & Myers Foundation?
The O'Melveny & Myers Foundation is a separate philanthropic entity with approximately $400 million in assets (per Altss estimate). It is legally distinct from the Cash Balance Plan, which serves as the partner retirement vehicle.
Why does a law firm operate a pension plan with a mezzanine strategy?
Cash balance plans allow professional services partnerships to make tax-advantaged retirement contributions far in excess of 401(k) limits. O'Melveny chose a mezzanine allocation to target yield and credit exposure for its partners, reflecting a common strategy among law and consulting firms that use the structure as both a retirement benefit and a partner retention tool.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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