Banking & Finance · speciality monitor

Acquisition & Leveraged Finance: lateral monitor

Lawyers whose work centers on Acquisition & Leveraged Finance and who changed firm over the last 12 months, set against the Banking & Finance practice and the market.

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01 The numbers

The last 12 months: November 2025 to October 2026

348
Lateral moves, 12 monthsNovember 2025 to October 2026
-3.1%
Year on yearSettled 12-month windows
32.8%
Partner share of moves
116
Firms that hired
02 Reading the data

What the data show

From November 2025 to October 2026, Sartori & Partners recorded 348 lateral moves in Acquisition & Leveraged Finance. On settled 12-month windows the count showed no clear change: 369 against 381 (-3.1%). That trails the wider market, which moved +9.0%.

Acquisition & Leveraged Finance against Banking & Finance and the market
MeasureHereBanking & FinanceMarket
Partner share of moves32.8%30.8%27.7%
Counsel share of moves15.2%12.7%12.7%
Associate share of moves52.0%55.8%58.5%
Moved up a level13.5%13.1%12.9%
Changed city19.5%20.4%20.5%
Hired by firms of 1,000+ lawyers73.6%63.8%53.6%
Year on yearflat (-3.1%)rose (+14.1%)rose (+9.0%)

12 months to October 2026 unless the row says three years; a row switches to three years for every column when this page's 12-month value is not published. A dash is a value we do not publish. Flat means a change under 5% or inside the noise of the two counts.

Set against the Banking & Finance practice as a whole, the share hired by firms of 1,000+ lawyers stands out most: 73.6% here against 63.8%, above it. Year on year it held flat while the Banking & Finance practice as a whole rose.

Acquisition & Leveraged Finance: lateral moves by year

2026 runs to October.

Over the three years to October 2026, 1,095 lawyers moved in Acquisition & Leveraged Finance, 357 of them partners (32.6%). They joined 210 different firms. 12.5% stepped up a level on the move and 20.0% changed city, against 12.3% and 21.6% across the market over the same three years. 72.3% came from firms with 1,000+ lawyers.

Moves by month
5920
Nov 24Oct 25Oct 26

Latest: 28 in Sep 26

Show the numbers
MonthValue
Nov 2429
Jan 2559
Feb 2530
Mar 2528
Apr 2524
May 2532
Jun 2527
Aug 2520
Sep 2556
Oct 2540
Nov 2532
Jan 2632
Feb 2647
Mar 2630
Apr 2633
May 2626
Jun 2639
Jul 2626
Aug 2621
Sep 2628

The newest months read low: start dates are confirmed with a delay.

At 32.8%, the partner share of arrivals sits above the market's 27.7%. On settled windows partner moves alone went from 122 to 111 (-9.0%), a change inside the noise of the two counts, so we read it as flat. 13.5% of movers stepped up a level when they changed firm, against 12.9% for the market.

Lateral hires in Acquisition & Leveraged Finance were spread across 116 firms. Ten firms account for 30.7% of arrivals, against 12.9% across the market: concentrated. Latham & Watkins ranks first by lateral arrivals, in the 11-20 band.

Destination cities, share of moves, 12 months

London ranks first among destination cities with 23.3% of arrivals, followed by New York (22.4%). 19.5% of movers also changed city, against 20.5% market-wide.

There were 373 open roles in Acquisition & Leveraged Finance on law-firm career pages on November 11, 2026.

With volume in Acquisition & Leveraged Finance holding level, a hire depends on a specific reason to move, which a firm has to put in front of the candidate.

03 Firms

Firms by rank and band

Each firm appears as a rank and a band, never an exact count, and only with at least 10 moves in the window.

Firms ranked by lateral arrivals, 12 months
RankFirmMoves (band)
1Latham & Watkins11-20
2Sidley Austin11-20
3Paul Hastings11-20
4Eversheds Sutherland11-20
5Weil Gotshal & Manges6-10
6Kirkland & Ellis6-10
7DLA Piper6-10
8Proskauer Rose6-10
9King & Spalding6-10
10Jones Day6-10
Firms ranked by partner arrivals, 12 months
RankFirmMoves (band)
1Proskauer Rose6-10
2DLA Piper6-10
3King & Spalding6-10
4Sidley Austin6-10
5Mayer Brown3-5
6Jones Day3-5
7Weil Gotshal & Manges3-5
8Paul Hastings3-5
9Paul, Weiss, Rifkind, Wharton & Garrison3-5
10A&O Shearman3-5
04 Demand

Deals in Acquisition & Leveraged Finance

Sartori & Partners data count 689 dated deals in Acquisition & Leveraged Finance in the 12 months to October 2026 and 1,810 over the three years to October 2026.

Leveraged & acquisition finance work is involved in 79.7% of them and Banking & lending in 7.3%.

By client industry, Banks & Financial Institutions comes first with 18.5%.

Latham & Watkins ranks first among advising firms over the period, in the 151-250 band.

Share of deals involving each deal type, three years to October 2026
Share of deals involving each client industry, three years to October 2026
Advising firms ranked by deals, three years to October 2026
RankFirmDeals (band)
1Latham & Watkins151-250
2Cahill Gordon & Reindel151-250
3Milbank101-150
4Paul Hastings61-100
5White & Case61-100
6Hogan Lovells Cadwalader61-100
7Jones Day61-100
8Simpson Thacher & Bartlett61-100
9Clifford Chance61-100
10Goodwin Procter41-60
05 Promotions

Time to partner in Acquisition & Leveraged Finance

70 lawyers were promoted to partner in Acquisition & Leveraged Finance in the 12 months to May 2026, 438 over five years, according to Sartori & Partners data.

The median time from first year of practice to partner is 10.0 years, with the middle half between 8.0 years and 12.0 years, against a market median of 10.0 years. 78.6% made partner within 12 years.

These figures rest on 323 promotions.

Years from first year of practice to partner
06 Explore

Related monitors and reports

Hiring in this market

Reports

  • Leveraged Finance Hiring: London Ahead of New York

    Banking and finance hires more lawyers into New York than into London, but its acquisition and leveraged finance specialty runs the other way: London took 23.3% of moves, at an index of 252, and New York 22.4%.

    November 11, 2026 · November 2026

Edition November 2026. Window: November 2025 to October 2026. Source: Sartori & Partners, from public law-firm announcements, firm websites and professional profiles, checked monthly. Methodology. Spot an error? [email protected].

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