Key facts
- Clifford Chance's revenue reached over £2.6bn, up 9% year-on-year.
- Private markets, including private equity and M&A, were the primary drivers of growth.
- Partnership profit hit £1.05bn, an 11% increase.
- Profit per equity partner averaged approximately £2.3m.
- The firm advised on $300bn in private equity and M&A transactions.
Magic circle firm Clifford Chance has reported its revenue surpassed £2.6bn for the first time, a 9% increase from the previous year, largely propelled by a surge in private market work. The firm highlighted strong activity across private equity, mergers and acquisitions, funds, investment management, restructuring, and private credit.
Over the past year, Clifford Chance advised on private equity and M&A transactions totaling $300bn, including seven deals valued at over $10bn each. One notable transaction involved advising financial services group Legal & General on a private credit partnership with private equity firm Blackstone.
Partnership profit also reached a record high, exceeding £1bn for the first time and hitting £1.05bn, an 11% increase from the prior year. This growth translated to profit per equity partner (PEP) climbing by 9%, with partners pocketing approximately £2.3m each.
Charles Adams, Clifford Chance's global managing partner, attributed the results to client trust in the firm's cross-border capabilities and its ability to deliver sustained profitable growth through investments in talent and technology, particularly in a complex geopolitical landscape.
The firm has also been expanding its US presence, hiring 15 new lateral partners and promoting 28 internally over the last year, with a significant focus on its New York, Houston, and Washington D.C. offices. Since January last year, the firm has added 34 new partners in the US, bringing the total to 156. This expansion contributed to a 9% growth in US revenue, marking a 65% increase in US revenue since 2023.