Big Law’s IPO Oligopoly Emerges as Market Roars Back
In this article for Bloomberg Law, Bob Hayward discusses the rebound of the IPO market, where a few top law firms are capturing most of the work. As companies stay private longer, they're turning to these firms for complex deals, reinforcing a growing concentration in IPO legal work, though activity is beginning to expand to other firms as the market heats up.
... “These are not small deals,” said Bob Hayward, a Chicago-based Kirkland capital markets partner. “So, you are going to see companies move toward the law firms that have proven track records on large, complex, high-profile deals, especially ones that are supported by sophisticated investors like private equity firms.”
