Goodwin is adding a new partner focused on the fast-growing market for secondhand private fund stakes, the law firm’s third senior secondary hire in the past year. Krishna Skandakumar is joining the Private Investment Funds team as a partner at the firm’s New York office, where he will work both on the sale of portfolios of fund stakes and general partner-led transactions, according to a statement seen by The Wall Street Journal. Lawyers who advise on secondary deals have tended to be specialists in other areas, such as fund formation. The growth of the market and the specific challenges related to GP-led deals have led Goodwin to bring on a number of specialists at the partner level, said Michael Halford, co-chair of the firm’s Private Investment Funds team. 'These are quite expensive transactions to implement, especially GP-led secondaries, and they’ve got quite a high risk [of failure],” said Halford.