Private Equity Deals Help Drive Growth at Biggest Law Firms (1)

Big Law is growing at a scale unmatched for nearly a decade boosted by business from private equity deals and is poised for another strong year, but mid-range firms caught up in market volatility could consolidate.

Revenue grew by an average of 6.3 percent in the first nine months of 2018, nearly twice the growth posted during the year-ago period, a report by Citi Private Bank Law Firm Group and Hildebrandt Consulting shows.

Firms overall are expected to continue to build on their “strong reputations and differentiated brands” in 2019. Projected profit per equity partner growth, an important indicator of ...