Key Takeaways
- • Kirkland & Ellis dominated Q1 2026 private equity legal adviser rankings, advising on 7 of the 20 largest PE transactions with $41.62 billion in total deal credits, significantly outpacing competitors Simpson Thacher & Bartlett ($29.61 billion) and Latham & Watkins ($27.68 billion).
- • Barclays Capital led financial advisers in Q1 2026, managing six of the top 20 PE deals totaling $39.12 billion in credits, including the $21.09 billion Silver Lake acquisition of Endeavor Group Holdings, the largest global M&A deal announced in April.
- • Kirkland & Ellis advised on marquee transactions across sponsor spectrum, including Advent International's $6.19 billion take-private of Nuvei Corp. and Thoma Bravo's $5.21 billion acquisition of Darktrace PLC, demonstrating broad reach across mega-cap PE activity.
- • Goldman Sachs and Bank of America ranked as financial adviser runners-up, with Goldman executing four deals worth $20.33 billion and BofA completing three deals valued at $27.64 billion in aggregate credits.
- • Kirkland & Ellis maintains dominant market position through specialized fund formation and transactional expertise, leveraging deep bench strength in GP-led secondaries, continuation funds, and complex minority investment structuring for flagship PE sponsors.
Summary
Kirkland & Ellis LLP and Barclays Capital emerged as the top legal and financial advisers, respectively, for first-quarter 2026 private equity transactions, according to S&P Global Market Intelligence data. Kirkland & Ellis commanded the legal adviser rankings by advising on seven of the 20 largest PE and venture capital deals announced between April 1 and June 30, generating $41.62 billion in deal credits—a commanding lead over second-place Simpson Thacher & Bartlett, which accumulated $29.61 billion across four transactions, and third-ranked Latham & Watkins with $27.68 billion.
On the financial adviser side, Barclays Capital led the rankings with six deals totaling $39.12 billion in credits. The firm's portfolio included Silver Lake Technology Management's $21.09 billion proposed acquisition of Endeavor Group Holdings, which ranked as the largest global M&A transaction announced in April. Goldman Sachs & Co. followed in second place with four deals worth $20.33 billion, while Bank of America Securities completed three transactions generating $27.64 billion in aggregate credits, placing it third despite fewer deal count.
Kirkland & Ellis's advisory mandates spanned a diverse sponsor base and transaction structures. The firm advised Advent International on its $6.19 billion take-private transaction for payment processor Nuvei Corp., as well as Thoma Bravo on its $5.21 billion pending acquisition of cybersecurity provider Darktrace PLC. Kirkland also served as legal counsel to Silver Lake on the Endeavor Group transaction, further reinforcing its presence in mega-cap PE dealmaking. The firm's dominance reflects its comprehensive capabilities across fund formation, GP-led secondaries, continuation funds, and complex minority investment transactions—areas in which partners Daniel Lavon-Krein, Erica Berthou, and Sean Malone maintain particular depth.
The rankings underscore continued consolidation of PE advisory work among elite financial and legal service providers, with Kirkland & Ellis leveraging its scaled platform and deep PE sponsor relationships to capture disproportionate deal flow and credit volume in the market's most significant transactions.
On the financial adviser side, Barclays Capital led the rankings with six deals totaling $39.12 billion in credits. The firm's portfolio included Silver Lake Technology Management's $21.09 billion proposed acquisition of Endeavor Group Holdings, which ranked as the largest global M&A transaction announced in April. Goldman Sachs & Co. followed in second place with four deals worth $20.33 billion, while Bank of America Securities completed three transactions generating $27.64 billion in aggregate credits, placing it third despite fewer deal count.
Kirkland & Ellis's advisory mandates spanned a diverse sponsor base and transaction structures. The firm advised Advent International on its $6.19 billion take-private transaction for payment processor Nuvei Corp., as well as Thoma Bravo on its $5.21 billion pending acquisition of cybersecurity provider Darktrace PLC. Kirkland also served as legal counsel to Silver Lake on the Endeavor Group transaction, further reinforcing its presence in mega-cap PE dealmaking. The firm's dominance reflects its comprehensive capabilities across fund formation, GP-led secondaries, continuation funds, and complex minority investment transactions—areas in which partners Daniel Lavon-Krein, Erica Berthou, and Sean Malone maintain particular depth.
The rankings underscore continued consolidation of PE advisory work among elite financial and legal service providers, with Kirkland & Ellis leveraging its scaled platform and deep PE sponsor relationships to capture disproportionate deal flow and credit volume in the market's most significant transactions.
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