Why are there less Private Equity deals for Law Firms?

Private equity (PE) deals used to be constant. A steady pipeline, which peaked around 2018, made deal flow almost routine: a January influx of clients led to spring buyouts, followed by another rush just before summer.

This was good news for law firms. It was predictable and allowed them to allocate resources effectively to ensure smooth transactions.

Those days are long gone. Deal flow has become increasingly erratic. Instead of steady waves, firms are experiencing periods of intense activity followed by unexpected lulls, making it significantly harder to plan workloads and manage client expectations.

The shift has left many firms grappling with fluctuating demand and the challenge of maintaining consistent revenue streams. The uncertainty has forced firms to adopt more flexible strategies, with lawyers working on a wider variety of deals to hedge against market unpredictability.

Key points to discuss in applications and interviews