A&O outstrips rivals on project finance

Allen & Overy (A&O) has reached pole position in the project finance rankings for the first half of this year, with deals worth nearly double that of its nearest rival.

According to Dealogic, A&O’s largely lender-based practice saw it act on 19 deals totalling $5.75bn (£3.16bn), winning the firm 11 per cent of the total market share for projects globally.

Latham & Watkins leapt from thirteenth place last year to second, knocking Clifford Chance from the number two spot. Latham advised on 16 deals worth $3.8bn (£2.12bn).

Sullivan & Cromwell, which last year did not reach the top 20, came in fourth, notching up $2.5bn (£1.38bn) of mandates.

Australia’s Mallesons Stephen Jaques beat Herbert Smith, Lovells and Norton Rose, advising on 10 projects worth $1.3bn (£714.3m).