As private equity booms, law firm partner moves hit record high
Partner moves in London’s private equity market are hitting a new high, according to a report that revealed last year’s numbers doubled those of 2024, marking a record for the City’s legal sector.
New data from legal search boutique Macrae shows there were 50 movements of partners with practices in the private equity sector in London, up from 28 the previous year and for the first time in the tracking period, outpacing their US rivals in net growth.
The boom marks a shift in the competitive landscape between UK and US firms, suggesting an end to the US’s “exclusive domain” over London’s private equity market, which the country has previously dominated.
According to the findings, both elite and mid-tier firms in the City, including Clifford Chance, Linklaters, and Freshfields, are all seeing positive growth.
PE boom hitting professional services firms
London is increasingly seeing a surge in private equity interest across the professional services sector. In July 2025, UK accounting firms reported that interest rose to a record high due to an “appetite” on both sides for “a major injection of funds.”
Professional services are also facing rising pressure over whether to inject private equity funds or undertake a merger, and last year saw examples such as PE firm Apax buying Evelyn Partners’ accounting branch for £700m.
Alongside hiring, the private equity market is shaking up the traditional law firm model in London, with nearly 70 per cent of firms in the last year approached by private equity-backed entities or investors.
MHA data, in conjunction with the Law Society, revealed in January that the bulk of law firms with between 8 and 50 partners are increasingly in contact with private equity market investors or private-equity-supported entities.
According to Macrae’s data, economic uncertainty, including the rising use of AI and geopolitical tensions “weighing on confidence”, firms are turning towards poaching top talent who bring already established teams.
Firms are also moving to hire more specialised teams, and property and infrastructure teams are particularly in demand, with firms such as Paul Weiss launching a London-based infrastructure team, signalling a surge in demand.
However, the number of well-established talent in London law firms remains “limited”, and demand for top private equity partner hires is expected to continue in 2026 following the record high.