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.
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
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%.
| Measure | Here | Banking & Finance | Market |
|---|---|---|---|
| Partner share of moves | 32.8% | 30.8% | 27.7% |
| Counsel share of moves | 15.2% | 12.7% | 12.7% |
| Associate share of moves | 52.0% | 55.8% | 58.5% |
| Moved up a level | 13.5% | 13.1% | 12.9% |
| Changed city | 19.5% | 20.4% | 20.5% |
| Hired by firms of 1,000+ lawyers | 73.6% | 63.8% | 53.6% |
| Year on year | flat (-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 A dash is a value we do not publish.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.
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.
Latest: 28 in Sep 26
Show the numbers
| Month | Value |
|---|---|
| Nov 24 | 29 |
| Jan 25 | 59 |
| Feb 25 | 30 |
| Mar 25 | 28 |
| Apr 25 | 24 |
| May 25 | 32 |
| Jun 25 | 27 |
| Aug 25 | 20 |
| Sep 25 | 56 |
| Oct 25 | 40 |
| Nov 25 | 32 |
| Jan 26 | 32 |
| Feb 26 | 47 |
| Mar 26 | 30 |
| Apr 26 | 33 |
| May 26 | 26 |
| Jun 26 | 39 |
| Jul 26 | 26 |
| Aug 26 | 21 |
| Sep 26 | 28 |
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.
- Partner32.8%
- Counsel15.2%
- Associate52.0%
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.
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.
- 1,000+ lawyers72.3%
- 400-999 lawyers15.4%
- 150-399 lawyers6.6%
- under 150 lawyers5.8%
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.
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.
| Rank | Firm | Moves (band) |
|---|---|---|
| 1 | Latham & Watkins | 11-20 |
| 2 | Sidley Austin | 11-20 |
| 3 | Paul Hastings | 11-20 |
| 4 | Eversheds Sutherland | 11-20 |
| 5 | Weil Gotshal & Manges | 6-10 |
| 6 | Kirkland & Ellis | 6-10 |
| 7 | DLA Piper | 6-10 |
| 8 | Proskauer Rose | 6-10 |
| 9 | King & Spalding | 6-10 |
| 10 | Jones Day | 6-10 |
| Rank | Firm | Moves (band) |
|---|---|---|
| 1 | Proskauer Rose | 6-10 |
| 2 | DLA Piper | 6-10 |
| 3 | King & Spalding | 6-10 |
| 4 | Sidley Austin | 6-10 |
| 5 | Mayer Brown | 3-5 |
| 6 | Jones Day | 3-5 |
| 7 | Weil Gotshal & Manges | 3-5 |
| 8 | Paul Hastings | 3-5 |
| 9 | Paul, Weiss, Rifkind, Wharton & Garrison | 3-5 |
| 10 | A&O Shearman | 3-5 |
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.
| Rank | Firm | Deals (band) |
|---|---|---|
| 1 | Latham & Watkins | 151-250 |
| 2 | Cahill Gordon & Reindel | 151-250 |
| 3 | Milbank | 101-150 |
| 4 | Paul Hastings | 61-100 |
| 5 | White & Case | 61-100 |
| 6 | Hogan Lovells Cadwalader | 61-100 |
| 7 | Jones Day | 61-100 |
| 8 | Simpson Thacher & Bartlett | 61-100 |
| 9 | Clifford Chance | 61-100 |
| 10 | Goodwin Procter | 41-60 |
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.
Related monitors and reports
Other specialities in Banking & Finance
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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