Baker & McKenzie tops finance table

Baker & McKenzie has overtaken Clifford Chance on a table of privately-financed infrastructure deals that were completed over the last 12 months.

It handled projects worth u116bn in comparison to Clifford Chance's u100bn, according to a survey by the publishers of Privatisation International.

In 1997/98, Baker & McKenzie dealt with u110bn worth of these transactions, in comparison to Clifford Chance's u126bn.

The firm has also beaten Clifford Chance in the number of deals it has handled over the last two years.

Baker & McKenzie completed 227 projects according to this year's table, in comparison with Clifford Chance's 199.

But both firms handled fewer projects this year in comparison to the previous year due to unstable international markets.

In the 1998 table, Baker & McKenzie advised on 254 transactions and Clifford Chance handled 223.

Peter Gaines, project and structured finance partner at Baker & McKenzie, says: “This is because of the Asian and Russian debacles, and wobbling in Brazil.”

Gaines claims this year is the first time that any firm has reached the top of the survey for both total value of deals and the number of projects handled.

He says: “This year is a double first for us, not only in volume but also value.”