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9fin announces inaugural private credit law firm league tables H1 25
Devin McGinley
•3 min read
Welcome to 9fin’s inaugural global league tables for law firms advising on private credit financings, covering the first half of 2025.
This is our first effort to measure how legal advisors stack up on both lender and borrower mandates in this famously opaque market. (We also publish rankings of private credit lenders in the United States and Europe.)
Across deals in both geographies, Davis Polk came out on top with a total of 53 deals. The firm’s 50 US deals also led the market overall, including top rankings on both the US lender and US borrower side, with 35 and 15 deals, respectively.
In Europe, the leaders were distributed across a wider range of firms. Simpson Thacher came out on top overall with a total of 23 deals. However, Paul Hastings narrowly took the top ranking for European lender counsel deals, with 20 mandates versus Simpson Thatcher’s 18, and Milbank ranked at the top of lender counsels when looking at both sides of the Atlantic, with 50 overall.
On the borrower side, counsel mandates tend to be less concentrated, and we tracked fewer firms with substantial numbers of these deals. In Europe Clifford Chance and Paul Weiss tied for the top ranking with nine deals.
All of this data is based on a combination of 9fin reporting and disclosures from firms that responded to a request for additional information, and we expect to revise our rankings for the full year as new information comes to light (if you would like your firm to be featured in future editions of these tables, get in touch by emailing private-submissions@9fin.com).
We also similar rankings for high-yield bonds and broadly syndicated loans. For access, email marketing@9fin.com.
In the meantime, see our snapshot of the most active law firms in the private credit market below - or enter your email to unlock the full report.
