The credit crisis has had a huge impact on the legal market since it began last summer. Until the end of last year, firms were insisting the outlook was still uncertain, with some suggesting there was a slight possibility the markets may recover. Since the start of 2008, however, the outlook has become decidedly bleak, with the market showing no sign of picking up any time soon.
But while the days of jumbo private equity deals may seem like a thing of the past, mid-market private equity transactions have been an increasing priority for the magic circle and the UK’s mid-market firms.
Characterised by a more stable flow of cash, infrastructure deals are more prominent and a wave of sovereign wealth fund transactions have taken the world by storm in recent months.
With emerging markets such as China making their mark on global investment, it is clear that liquidity is still out there and deals are still being done.