Linklaters has released its financial results for the year ended 30 April 2026, reporting record revenue and profit across its global platform.
Financial highlights
• Revenue was £2.47bn, +6.8% vs FY25.
• Pre-tax profit was £1.2bn, +11.6%, the third consecutive year of double-digit profit growth. • Profit growth in all core markets: Asia +36%, Europe +10%, UK +7%, and US +39%. • Profit per all partners was £2.31m, +10.7%.
• Profit per equity partner was £2.48m, +11.4%.
Business highlights
• Growth was driven by increased demand from the world’s leading corporates, banks and private capital clients on their most complex, cross-border mandates.
• Landmark mandates included advising the UK government on the £38bn Sizewell C Nuclear Plant Project; Unilever’s demerger of The Magnum Ice Cream Company and its stock exchange listings in Amsterdam, London and New York, one of the largest and most complex global carve-outs in recent years; New World Development’s approx. HK$88.2bn (US$11.3bn) financing transaction, the largest of its kind ever executed in Hong Kong SAR; and representing Visa in its defence of thousands of complex funded group proceedings and parallel opt in and opt out class actions in the Competition Appeal Tribunal.
• Launched applied intelligence, a new practice combining Linklaters’ legal, AI and data science expertise to build bespoke AI solutions for clients on their most complex matters. • 37 new partner elections and 12 lateral partner hires globally, reflecting the firm’s commitment to attracting and developing top talent.
• Outstanding third-party recognition, including the highest number of UK-wide Band 1 department and individual recognitions in the Chambers UK Legal Guide 2026.
Paul Lewis, firmwide managing partner, said: “This has been another outstanding year for Linklaters globally. Our results reflect the confidence and trust our clients continue to place in us to advise on their most high-stakes matters.
Our momentum continues to build as we attract and develop top tier talent and deepen relationships with global clients, including in the US, where we have doubled revenue and quadrupled profit over the past four years. We continued to strengthen our leadership in legal AI, launching our applied intelligence team, hiring dedicated AI lawyers and rolling out frontier agentic technology to deliver more, better and faster, for clients.
I’d like to thank our clients for their continued collaboration and trust. I’d also like to thank our colleagues around the world for their ambition and commitment to delivering excellence for our clients every day.”
Top talent across our global platform
Linklaters announced 37 new partner elections and 12 lateral partner hires across its global offices.
In London, Peter Hayes and Angel Quek joined Linklaters’ banking practice, bolstering the firm’s leveraged finance offer. Market-leading credit solutions specialist Mei Lian joined the corporate and structured lending practice, while Matthew Hodgson joined as partner and head of public international law, strengthening the firm’s international arbitration team.
The firm has grown its US partnership by more than 75% since 2021 with the addition of elite teams across M&A, disputes and finance. Most recently, in New York, H. Christopher Boehning joined the firm as a partner and chair of the global sports practice and US strategic disputes, and Daniel H. Levi joined as a partner in the firm’s litigation, arbitration and investigations practice, bringing world-
class commercial disputes expertise for clients such as FIFA and Regeneron. Linklaters also boosted its New York corporate practice with the addition of Kristina Trauger as a capital markets and M&A partner, and appointed George Casey chair of the Americas and Adeel Mangi chair of the trial practice.
The firm hired an eight-lawyer restructuring and insolvency team in Paris led by François Kopf, who joined as global chair of restructuring and insolvency, and which included Mathieu Della Vittoria. Also in Paris, the firm boosted its leveraged finance capabilities with the addition of Pierre-Arnoux Mayoly and Shirin Deyhim. Meanwhile, Massimiliano Nitti, and Giovanni Colantuono joined as partners in Italy, with Massimiliano joining as head of corporate there. Both further enhance the firm’s global M&A and private equity offering.
Leading in legal AI
The firm accelerated its investment in AI this year, rolling out Legora’s market-leading platform in September across all 30 offices and recruiting and training a growing team of AI Lawyers to work alongside global teams.
In May, the firm launched applied intelligence, a new practice combining Linklaters’ legal, AI and data science expertise, to build bespoke AI-led solutions for clients on their most complex mandates – working in partnership with practice teams and sector experts.
Advising on the biggest cross-border deals
Linklaters’ market-leading corporate team advised on US$167bn worth of deals in 2025 and that momentum continued into H1 2026, with the value of deals advised on more than tripling compared with the same period last year.
This included advising CK Group on its US$10.5bn sale of UK Power Networks to Engie; Volkswagen and Porsche on the sale of Porsche’s stake in Bugatti Rimac; La Caisse on KKR’s US$1.5bn strategic equity investment in Vertical Bridge; Arise Digital Technology on its US$3.2bn acquisition of a stake in True Corporation; Brookfield on the sale of a stake in its Paris-based data centre platform, Data4
Group, to Arjun Infrastructure Partners; Alphawave IP Group, on its recommended US$2.4bn acquisition of a subsidiary of Qualcomm; Unilever’s demerger of The Magnum Ice Cream Company and subsequent listings in Amsterdam, London and New York; Nexfibre and its investors on the £2bn acquisition of UK’s second largest alternative fibre provider; and Dow on a US$540m investment by Macquarie Asset Management in Diamond Infrastructure Solutions, following the launch of the US$6bn platform in 2024.
Linklaters experienced strong demand for public M&A. This included advising Tate & Lyle on its £2.7bn cash takeover by US rival Ingredion; Dai-ichi Life on its acquisition of a stake in M&G plc; and Macquarie Asset Management on its recommended cash offer for Renewi plc.
Growth in complex global financings and restructurings
The firm saw sustained demand for complex financing, restructuring and insolvency mandates across key markets.
Its market-leading restructuring and insolvency practice advised on a series of landmark, multi-billion dollar restructurings, including Sunac China’s US$10.2bn offshore debt restructuring and The LYCRA Company’s successful emergence from US Chapter 11 proceedings, as well as Country Garden’s landmark US$17.7bn offshore debt restructuring.
At the frontier of energy and infrastructure developments
Linklaters advised on many of the market’s most innovative and transformational energy and infrastructure projects, including the UK Government on the financing of the landmark £38bn Sizewell C Nuclear Plant Project. Other landmark infrastructure financing projects included the US$15bn Amiral Petrochemical Complex, one of the largest integrated petrochemical projects ever developed in the Kingdom of Saudi Arabia; the US$10bn Taiwanese Hai Long 2 & 3 and Greater Changhua 2A, 2B & 4 Offshore Wind Farms, the largest offshore wind project financings in Asia to date; and the US$5bn HSAGP Energy Gigafactory, one of the largest EV battery gigafactory investments in the US.
At the forefront of private capital fundraising and financing
Linklaters supported private capital clients across the full spectrum of fundraising, deployment and strategic investment opportunities, advising on fundraising in excess of US$175bn and on the investment of over US$25bn into more than 200 funds, including EQT Group on BPEA Private Equity Fund IX, the largest-ever Asia Pacific-dedicated private equity fund raised to date.
The firm advised on some of the largest private capital financings and refinancings, including Apollo managed funds on their agreement to invest in a 50% stake in Ørsted’s Hornsea 3, the world’s largest offshore wind project; Brookfield-owned data centre operator Data4 on its €3.3bn debt raise, the largest digital infrastructure financing deal of its kind in Europe, and on its refinancing post-acquisition. Linklaters advised the mandated lead arrangers, Apollo, Ares and Blackstone Real Estate Debt Strategies, on a senior-only refinancing of an existing senior/mezzanine financing for a portfolio of Blackstone-owned residential assets in the Testa portfolio in Spain. The firm also advised on the €890m high yield bond offering by Neopharmed Gentili (a portfolio company of Ardian and Renaissance Partners); and Warburg Pincus’ landmark investment in Acclime.
Acting on business-critical contentious mandates
Linklaters’ leading litigation, arbitration and investigations division continued to represent clients across a range of sectors in relation to significant, business-critical issues. This included representing Kelkoo in its high-profile dispute with Google alleging abuse of dominance in the shopping comparison and search advertising markets; Visa in its defence of thousands of complex funded group proceedings and parallel opt in and opt out class actions in the Competition Appeal Tribunal; Sony Interactive Entertainment in a consumer class action relating to the PlayStation Store; and Johnson & Johnson in several pieces of material US commercial litigation. New online safety legislation also led to a significant increase in regulatory and public law mandates across the tech sector.
Celebrating significant milestones
Following highly successful first terms, Linklaters’ global partnership voted in June 2025 to extend Aedamar Comiskey as senior partner and chair, and Paul Lewis as firmwide managing partner until 2029.
In March, the firm moved into its new global headquarters at 20 Ropemaker Street in London, a 360,000sq ft landmark development designed to support the firm’s culture of teamwork and high performance. This year also saw a move to new premises in Shanghai and Singapore. In June, Linklaters celebrated 50 years in Hong Kong and Asia. Over the past five decades, private and public sector clients have trusted the firm to guide them through the moments that matter, while navigating the city’s growth and transformation into an international financial centre and a gateway to Mainland China. The firm continues to play a key role in Hong Kong’s dynamic capital markets, advising on four out of the top 10 Hong Kong IPOs by funds raised in 2025, including CATL’s US$4.6bn HKEX debut in May 2025.
Strong recognition in industry league tables, rankings and awards
• Highest number of UK-wide Band 1 department and individual recognitions in the Chambers UK Legal Guide 2026.
• Named France Law Firm of the Year at the Chambers Europe Awards 2026. • Named “Best Law Firm (APAC)” in the FinanceAsia Achievement Awards 2025, also receiving 20 “Deal Awards” recognitions across the region. Linklaters has been awarded “Best Law Firm” 12 times in 21 years.
• Asia-Pacific Law Firm of the Year and India International Law Firm of the Year: Chambers Asia-Pacific and Greater China Region Honours 2026.
• Achieved #1 rankings for M&A in the UK (up from #22 last year) and France – and #3 in Europe – in the Bloomberg H1 2026 league tables, while also ranking #2 in Europe (up from #17 last year) in Mergermarket.
• Achieved #1 M&A H1 2026 deal value rankings in Asia-Pacific excluding Japan, #1 in Asia excluding Australasia and Japan, and #1 in Greater China in the Mergermarket league tables, underlining the strength of our leading Asia platform.
• Ranked among the top 15 M&A legal advisers globally, including rising from #39 to #15 globally by announced deal value in the LSEG rankings.
• The corporate practice won awards across numerous categories in multiple jurisdictions including M&A deal and Strategic Deal of the year 2025 (M&A Advisor), International firm of the year and Equity team of the Year (IFLR Europe Awards), Data Centre M&A Deal of the Year (TMT finance awards).
• Forbes recognised George Casey, Linklaters’ global chair of corporate and chair of the Americas, on their inaugural list of America’s Top M&A Lawyers.
• Law.com recognised Adeel Mangi, litigation, arbitration and investigations partner and chair of the trial practice, as Law.com and New Jersey Law Journal’s Attorney of the Year. • M&A Advisor recognised the firm for M&A Deal of the Year, for advising Volkswagen Group on its US$5.8bn investment and joint venture transaction with Rivian Automotive; Corporate/Strategic Deal of the Year for advising Rio Tinto on its US$6.7bn acquisition of Arcadium Lithium; and Emerging Leader Awards for M&A Counsel Wendy Suh and IP Partner Shruti Chopra.
• The firm’s international arbitration practice, one of the largest in the world, was again recognised in the GAR 30 2025.
• Project and Energy Law Firm of the Year – Chambers France Awards 2026. • Forbes Top 40 of CAC40: Linklaters recognised in France in the Forbes and La Lettre des Juristes d’Affaires “Top 40 Lawyers advising CAC 40 companies” ranking, as the joint second most represented firm.
• Recognised as one of The Times Top 50 Employers for gender equality for the 13th year in a row. The firm’s 2025 Sustainability Report highlights the impact of its efforts to deliver positive outcomes for its people, the environment, and the communities it works in.
ENDS
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About Linklaters LLP
Linklaters LLP is a leading global law firm, advising the world’s leading banks, corporates and private capital clients on their most important and challenging transactions and assignments. We combine legal expertise with a collaborative and commercial approach to help clients navigate rapidly evolving markets and regulatory environments. Our teams operate at the forefront of all major practice areas and sectors, working as one team globally to enable clients to confidently seize opportunities and navigate risk. With offices in major business and financial centres, we deliver an outstanding service to our clients anywhere in the world.
