鶹 partner and Mergers & Acquisitions co-head Oliver Smith discussed the firm’s M&A and growing private equity practice with Bloomberg Law.

“We have the brand, we have the capabilities, and when and if you have opportunities, you have to nail them,” Oliver explained. “That has been a part of our focus as we continue to grow that private equity business.”

The article notes that 鶹’s M&A practice just had one of its strongest quarters on record, handling $92.3 billion worth of deals and placing second in Bloomberg Law’s league tables for Q1 2025. The firm advised on some of the quarter’s largest and most complex transactions such as Sycamore Partners’ acquisition of Walgreens Boots Alliance and Intra-Cellular Therapies’ acquisition by Johnson & Johnson. The firm has been among the top 10 firms by global deal value for the past five years despite having a smaller headcount than the M&A practices at other large firms.

“Given our size, our overall place in the league tables will fluctuate a little bit depending on what our clients are doing,” Oliver explained. “If you look at our competitors who have 100 or more partners, they will do more deals, just by the rule of large numbers.”

When asked about the firm’s expansion strategy, Oliver noted that 鶹 is engaging in the lateral market in a “thoughtful yet aggressive way.” In March, the firm welcomed Michael Diz as a partner in Northern California to strengthen our private equity M&A capabilities.

Oliver went on to add that although the first three months of the year were a “great quarter,” it’s hard to predict what will happen in Q2. “In the short term, some of the volatility probably impacts everybody. Long-term, there is a real question as to what cross-border transactions look like,” he said. “That’s the biggest question at some level. And then it’s industry-by-industry and we have to wait and see how things transpire.”

“,” Bloomberg Law (May 8, 2025) (subscription required) 

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