Private equity investment in law firms is gathering pace. But what does PE ownership actually look like in practice?
In our second episode of PE Curious, Corinne Staves is joined by Fredrik Bürger and Mike Strotz of EY-Parthenon, and Zulon Begum and Nick Leale of CM Murray LLP, to explore what firms should expect before and after PE investment. The discussion covers common investment structures, partner decision-making, regulatory considerations, operational change and the growing role of AI. Watch the video above or listen here.
- Platform or passenger? Firms will typically either become the platform for future acquisitions or join an existing PE-backed business.
- Buy-and-build is a common model: PE investors often seek growth through acquisitions, bringing firms together to create scale, efficiencies and a broader platform.
- Partner buy-in is critical: Successful transactions depend on bringing partners with you and planning for those who may choose not to participate.
- Regulation remains front and centre: PE-backed firms must continue to meet the same regulatory and professional obligations, with careful attention to governance, confidentiality and conflicts.
- Data matters: Investors want robust management information and a clear understanding of business performance.
- Focus shifts to execution: PE ownership often brings a sharper focus on delivering a small number of high-impact strategic priorities.
- AI is both an opportunity and a risk: Investors are increasingly assessing how firms are using technology and AI, while recognising that competitive advantage may be short-lived as adoption becomes widespread.
If you have any questions following this recording, or would like to talk through PE investment in the context of your firm, please do get in touch with Corinne Staves, Zulon Begum or Nick Leale at CM Murray LLP, or Fredrik Bürger and Mike Strotz at EY-Parthenon.
CM Murray LLP is ranked Tier 1 for Partnership by Legal 500 2027: “A powerhouse in the London market for its robust partnership offering.”
Corinne Staves is ranked as a “Star Individual” by Chambers and Partners UK for Partnership: Non-contentious: “One of the absolute leaders in the field on both contentious and non-contentious matters, regulatory and litigation.”
is recommended by Chambers and Partners UK 2027 for Professional Discipline: “Nick is an exceptional lawyer whose expertise, judgement, and client care set him apart.”
