Why one Arizona attorney opted for private equity backing for new law firm

Arizona became the first state in the nation to allow nonlawyers to own law firms last year, and multiple Valley firms have changed their ownership structures as a result. abc15

Scout Law Group, a newly formed Phoenix firm, is among the first law firms in the state to experiment with new ownership structure. Scout was created by longtime Phoenix attorney Steve German in partnership with 777 Partners, a private investment firm based in Miami.

777 Partners is the majority owner of Scout Law Group, and with the firm's resources, Scout says it is immediately one of the most well-funded plaintiffs’ law firms in the country. 777 Partners owns about 50 businesses in a variety of fields, including multiple professional soccer teams in Europe, an Australian airline company and several businesses in litigation finance.

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