Research published today (21 January) by the British Private Equity & Venture Capital Association (BVCA) shows that the estimated 200 law firms involved in private equity work trousered fees worth a combined £1.2bn for the 12-month period.
Professional services firms, including law firms, earned a total of £5.4bn in 2006, with private equity deals for the year totalling £14.9bn – equivalent to 1.4% of the
Omega Funds general counsel Claire Wilkinson, who chairs the Private Equity Lawyers Forum, said the industry was due recognition for its contribution to the
She commented: “The general trend is that all law firms want to have a slice of this kind of work; it’s a highly lucrative sector. This has been the nature of the industry for a long time now. We are finally getting some recognition of the benefits the sector brings.”
BVCA chief executive Simon Walker added: “This report shows just how important the private equity industry is to the
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