July 2026 Law Firm League Table

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Private markets legal advisory activity accelerated again in July 2026, with deal counts rising across the top of the table for a second straight month. The top ten firms collectively advised on 203 announced transactions during the month, up from 180 in June. Joe, Powered by Dakota tracks legal advisor activity across every private market transaction in real time.

Five firms held their spot in the top 10 from June to July, while five new or returning firms broke into the rankings. The turnover at the middle and bottom of the table was sharper than June's, with three of June's top five entrants (Weil Gotshal & Manges, Sidley Austin, and Wilson Sonsini Goodrich & Rosati) falling out entirely.

July 2026 Rankings

Law Firm	July Rank	July Deal Count	June Rank	June Deal Count	% Change
Kirkland & Ellis	1	48	1	41	+17.1%
Latham & Watkins	2	31	2	32	-3.1%
White & Case	3	18	9	10	+80.0%
DLA Piper	4	17	-	-	Re-Entry
Simpson Thacher & Bartlett	5	16	-	-	New Entry
Ropes & Gray	5	16	5	14	+14.3%
McDermott Will & Schulte	7	15	-	-	New Entry
Sullivan & Cromwell	8	14	-	-	New Entry
Clifford Chance	8	14	-	-	New Entry
Goodwin Procter	8	14	3	18	-22.2%

Rankings reflect announced private market transactions where the firm served as legal advisor. Ties are shown at the same rank.

At the Top: Kirkland & Ellis Widens Its Lead Again

Kirkland & Ellis held the top spot for a second straight month with 48 deals, a 17.1% increase from 41 in June. The firm's lead over second-place Latham & Watkins grew to 17 deals, up from nine in June.

Latham & Watkins held 2nd with 31 deals, down slightly from 32 in June, a 3.1% decline. It is the only top-three firm from June to post a month-over-month drop.

White & Case posted the largest jump among returning top-three firms, climbing from 9th to 3rd on an 80.0% increase, from 10 deals in June to 18 in July.

The Middle of the Table

DLA Piper re-entered the top 10 at 4th with 17 deals. The firm ranked in May's top 10 before dropping out in June, and its July count outpaces every firm that held a top-10 spot last month outside of Kirkland and Latham.

Simpson Thacher & Bartlett and Ropes & Gray tied at 5th with 16 deals each. Ropes & Gray grew 14.3% from 14 deals in June, while Simpson Thacher & Bartlett is a new entrant to the top 10.

McDermott Will & Schulte entered the rankings at 7th with 15 deals. Sullivan & Cromwell, Clifford Chance, and Goodwin Procter tied at 8th with 14 deals each. Sullivan & Cromwell and Clifford Chance are both new entrants, while Goodwin Procter fell from 3rd in June on a 22.2% decline, from 18 deals to 14.

Movement Out of the Top 10

Five firms from June's top 10 dropped out of the July rankings, more turnover than June saw from May:

Paul, Weiss, Rifkind, Wharton & Garrison (4th in June, 15 deals) fell to 13 deals in July, just outside the top 10.
Sidley Austin (tied 5th in June, 14 deals) posted 12 deals in July.
Weil Gotshal & Manges (tied 5th in June as a new entrant, 14 deals) posted 11 deals in July.
Freshfields Bruckhaus Deringer (tied 9th in June as a new entrant, 10 deals) posted 9 deals in July.
Wilson Sonsini Goodrich & Rosati (8th in June, 12 deals) saw the sharpest drop of any June top-10 firm, falling to 5 deals in July.

What to Watch in August

July's legal advisory activity built on June's gains, with the top 10 firms combining for 203 deals, up from 180 the prior month. Unlike June, where every returning firm grew its count, July saw a split: five top-10 holdovers grew or held steady while others, including Latham & Watkins and Goodwin Procter, posted declines. The turnover at the bottom of the table, five new or returning firms in a single month, points to a wider group of firms competing for the remaining top-10 spots than June's rankings suggested.

Joe tracks global private market transactions in real time, capturing the law firms advising on both sides of every deal. To explore the full data, request access to Joe.

PH Peter Harris, Investment Research Associate