Key Takeaways
- • London private equity partner hiring reached a record 50 moves in 2025, nearly doubling from 28 in 2024, marking the most active year since Macrae began tracking the market in 2020.
- • UK firms outpaced US firms on net growth for the first time in the tracking period, with both largest UK law firms and Silver Circle firms achieving net positive growth collectively—a meaningful reversal of historical competitive dynamics favoring US platforms.
- • The composition of lateral hires shifted materially, with external promotions and in-house transitions rising to roughly one-third of all moves (up from 11% in 2024), while traditional lateral hires fell from 89% to 66%, reflecting broader changes in talent acquisition strategy.
- • Goodwin and White & Case led individual firm performance with four partner additions each; Addleshaw Goddard, Akin, Clifford Chance, and Dechert each added three partners, demonstrating that private equity growth in London is "no longer the exclusive domain of US platform firms."
- • High-profile recruits included Angela Becker and Daniel Oates moving from Ropes & Gray to Akin, and a three-lawyer team (Anu Balasubramanian, Jamie Holdoway, and Chetan Sheth) joining Goodwin from Paul Hastings, with notable in-house transitions including Annie Lewis from Blackstone to Clifford Chance.
Summary
London's private equity legal market experienced unprecedented hiring activity in 2025, with 50 partner-level moves across major law firms—nearly double the 28 recorded in 2024, according to research by legal headhunters Macrae. This represents the most active year for partner movement since Macrae began systematically tracking these hires in 2020, signaling not merely a cyclical uptick but a structural shift in how leading law firms are building sponsor-side practices.
The composition of 2025's hiring reflects a material change in talent acquisition patterns. External promotions and in-house lateral transitions combined accounted for approximately one-third of all moves, a dramatic increase from just 11% in 2024. Conversely, traditional lateral hires—the historical bedrock of partner mobility—declined from 89% to 66% of total moves. This breakdown illustrates that sponsor-side practices are now being built through multiple channels rather than exclusively through poaching senior laterals from competing firms. The supplemental data indicates that of the 50 moves, 33 were traditional lateral partner-to-partner hires, seven came from in-house roles, and ten joined at partner level after holding more junior positions at prior firms.
A notable competitive dynamic emerged favoring UK firms over their US counterparts. US top 50 firms achieved zero net growth in 2025 as partner gains and losses cancelled each other out. In contrast, UK firms demonstrated net positive growth collectively for the first time in Macrae's tracking period—with both the largest UK law firms and Silver Circle firms achieving positive net movement. Macrae characterized this as "a meaningful shift in the competitive dynamic," suggesting that London's private equity market may be normalizing after years of US platform dominance.
At the individual firm level, Goodwin and White & Case led the market with four partner additions each. Goodwin's hires included a three-lawyer team from Paul Hastings (Anu Balasubramanian, Jamie Holdoway, and Chetan Sheth) in December. White & Case recruited Helen Croke from Ropes & Gray in summer, followed by Laura Kayani and Nick Matthew from the same firm in September. Addleshaw Goddard, Akin, Clifford Chance, and Dechert each added three partners. Notably, Clifford Chance's hires included two in-house transitions: Annie Lewis from Blackstone and Patrick Scott from KKR. Akin's recruits included Angela Becker and Daniel Oates from Ropes & Gray, plus Daniel Wayte from Orrick. Sullivan & Cromwell and Freshfields each added two partners. This distribution pattern underscores that private equity growth in London is no longer concentrated among US megafirms, reflecting genuine competitive rebalancing in the market.
The composition of 2025's hiring reflects a material change in talent acquisition patterns. External promotions and in-house lateral transitions combined accounted for approximately one-third of all moves, a dramatic increase from just 11% in 2024. Conversely, traditional lateral hires—the historical bedrock of partner mobility—declined from 89% to 66% of total moves. This breakdown illustrates that sponsor-side practices are now being built through multiple channels rather than exclusively through poaching senior laterals from competing firms. The supplemental data indicates that of the 50 moves, 33 were traditional lateral partner-to-partner hires, seven came from in-house roles, and ten joined at partner level after holding more junior positions at prior firms.
A notable competitive dynamic emerged favoring UK firms over their US counterparts. US top 50 firms achieved zero net growth in 2025 as partner gains and losses cancelled each other out. In contrast, UK firms demonstrated net positive growth collectively for the first time in Macrae's tracking period—with both the largest UK law firms and Silver Circle firms achieving positive net movement. Macrae characterized this as "a meaningful shift in the competitive dynamic," suggesting that London's private equity market may be normalizing after years of US platform dominance.
At the individual firm level, Goodwin and White & Case led the market with four partner additions each. Goodwin's hires included a three-lawyer team from Paul Hastings (Anu Balasubramanian, Jamie Holdoway, and Chetan Sheth) in December. White & Case recruited Helen Croke from Ropes & Gray in summer, followed by Laura Kayani and Nick Matthew from the same firm in September. Addleshaw Goddard, Akin, Clifford Chance, and Dechert each added three partners. Notably, Clifford Chance's hires included two in-house transitions: Annie Lewis from Blackstone and Patrick Scott from KKR. Akin's recruits included Angela Becker and Daniel Oates from Ropes & Gray, plus Daniel Wayte from Orrick. Sullivan & Cromwell and Freshfields each added two partners. This distribution pattern underscores that private equity growth in London is no longer concentrated among US megafirms, reflecting genuine competitive rebalancing in the market.
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