Key Takeaways
- • London surpassed New York in private equity M&A partner hiring during 2025, recording 48 laterals compared to New York's 37, marking a reversal of historical hiring patterns between the two financial centers.
- • American law firms, particularly Kirkland & Ellis, drove partner recruitment in both cities, reflecting U.S. firms' strategy to strengthen transatlantic capabilities.
- • New York maintained its competitive advantage in funds partner laterals, indicating sector-specific divergence in lateral movement patterns between the two markets.
- • The shift reflects broader geographic rebalancing in private equity legal talent acquisition, with London emerging as an increasingly attractive destination for M&A-focused partners.
Summary
London's private equity M&A legal market outpaced New York in partner hiring during 2025, with the U.K. capital attracting 48 laterals compared to New York's 37—a notable reversal of recent hiring trends between the two dominant financial centers. This shift underscores a strategic repositioning by major U.S. law firms seeking to enhance their transatlantic operations and capabilities.
American firms served as the primary hiring drivers in both markets, with Kirkland & Ellis leading partner recruitment efforts across jurisdictions. According to Rose Corbett, managing director at Macrae, this activity reflects a deliberate strategy: "What you're seeing is the U.S. firms in the U.K. trying to increase their strength on a transatlantic basis." This approach suggests that major American law firms are actively building depth in London to better serve cross-border transactions and strengthen competitive positioning in European markets.
While London gained ground in M&A partner laterals, New York retained its leadership position in funds partner hiring, indicating differentiated market dynamics across practice areas. The divergence suggests that private equity funds-related work continues to concentrate in New York, whereas M&A transactional expertise is increasingly distributed between both centers. This bifurcation reflects evolving client needs and the geographic distribution of deal activity in the private equity sector.
American firms served as the primary hiring drivers in both markets, with Kirkland & Ellis leading partner recruitment efforts across jurisdictions. According to Rose Corbett, managing director at Macrae, this activity reflects a deliberate strategy: "What you're seeing is the U.S. firms in the U.K. trying to increase their strength on a transatlantic basis." This approach suggests that major American law firms are actively building depth in London to better serve cross-border transactions and strengthen competitive positioning in European markets.
While London gained ground in M&A partner laterals, New York retained its leadership position in funds partner hiring, indicating differentiated market dynamics across practice areas. The divergence suggests that private equity funds-related work continues to concentrate in New York, whereas M&A transactional expertise is increasingly distributed between both centers. This bifurcation reflects evolving client needs and the geographic distribution of deal activity in the private equity sector.
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