Perkins Coie's Bill Malley, left, and Ashurst's Paul Jenkins, right tell FN there can be a potential 'culture issue' when taking on buyout shop funding

City law firm Ashurst and US peer Perkins Coie have ruled out taking on private equity investment after their transatlantic merger.

Speaking toFinancial News, Paul Jenkins, global chief executive of Ashurst, said there is “no intention” to strike a deal with private equity investors once the firms combine to create Ashurst Perkins Coie.