Kirkland & Ellis has emerged as the top mergers and acquisitions (M&A) legal adviser by both value and volume in 2021, having advised on 970 deals worth $559 billion, according to GlobalData’s Financial Deals Database. The leading data and analytics company notes that Kirkland & Ellis outpaced its peers by a significant margin in terms of deal volume.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis was the clear winner, especially when it came to the sheer number of deals advised. The closest competitor by volume was Latham & Watkins, with 563 deals worth $470 billion—a whole 407 deals less than Kirkland & Ellis. However, while Kirkland & Ellis stole the show in terms of volume, the company faced stiff competition when it came to deal value. The closest competitor by this metric was Simpson Thacher & Bartlett, which was only $13 billion behind Kirkland & Ellis.”

Despite being challenged for the leading position by value, Kirkland & Ellis held supreme by advising on 126 deals valued more than or equal to $1 billion. Among these were eight ‘mega deals’, valued more than or equal to $10 billion.

Bose continues: “The average size of these mega deals was $17.2 billion and this itself outlines the pivotal role these deals played in placing Kirkland & Ellis top of the ranking by value.”

An analysis of GlobalData’s Financial Deals Database reveals that Simpson Thacher & Bartlett occupied the second position by value, with 251 deals worth $546 billion; followed by Sullivan & Cromwell, with 164 deals worth $492 billion; and Wachtell Lipton Rosen & Katz, with 106 deals worth $475 billion. Latham & Watkins occupied the fifth position by value.

CMS occupied the third position by volume, with 448 deals worth $41 billion; followed by Jones Day, with 431 deals worth $159 billion; and Baker McKenzie, with 417 deals worth $121 billion.