Private equity and the future of law firms | Podcast special

Private equity investment in law firms has become one of the most talked-about trends in the legal industry. But how much is actually happening? Why are investors interested in legal services, and what does outside capital mean for the traditional partnership model?In this special edition of the podcast, Oliver is joined by Patrick Savage (Burford Capital), Peter Jackson (former managing partner of Hill Dickinson), Adil Taha (legal industry consultant), and Oscar Dean (Grant Thornton) for a candid discussion about the future of law firm ownership.The panel explores why legal has become attractive to investors, whether private equity activity has slowed in recent months, what makes a law firm investable, and how external capital can be used to fund growth, technology and talent. They also discuss consolidation, succession planning, the differences between legal and other professional services sectors, and why some investors are becoming more selective about the firms they back.Finally, the conversation turns to the biggest unanswered question in the market: exits. The panel debates whether private equity-backed law firms can deliver the returns investors need, who the eventual buyers might be, and whether outside capital will become a normal feature of the UK legal market over the next decade.The Non-Billable Podcast is sponsored by Legora. To find out more about Legora, visit: https://legora.com/ Today’s episode is also supported by Definely. To find out more about Definely, visit: https://www.definely.com/nonbillable Chapters00:01 Introduction01:30 Introductions & setting the scene04:40 Why investors are bullish on legal services12:55 Why legal is different from accounting and other professional services22:30 Has the private equity boom in law firms stalled?27:30 Why law firms seek outside capital, and what changes afterwards42:40 Talent, AI and the future law firm business model53:50 The exit problem: IPOs, secondary sales and investor returns1:03:50 Advice for law firm leaders and predictions for the futureAbout Non-BillableNon-Billable is the media company for modern legal professionals across private practice, in-house and legal tech.Visit our website: ⁠⁠https://www.nonbillable.co.uk