Herbert Smith Freehills and AZB & Partners were the top mergers and acquisitions (M&A) legal advisers in the Asia-Pacific (APAC) region during the first three quarters (Q1-Q3) of 2023 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, which ranks legal advisers by the value and volume of M&A deals on which they advised.

Based on its Financial Deals Database, the leading data and analytics company reveals that Herbert Smith Freehills achieved the top position in terms of value by advising on $22.9 billion worth of deals. Meanwhile, AZB & Partners led in terms of volume by advising on a total of 34 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Herbert Smith Freehills was among the only two advisers to surpass $20 billion in total deal value during Q1-Q3 2023. Involvement in three billion-dollar deals* that also included one mega deal valued more than $10 billion helped Herbert Smith Freehills occupy the top spot by value. It also occupied the ninth position by volume.

“Meanwhile, AZB & Partners was the only firm that managed to advise on more than 30 deals during Q1-Q3 2023. Apart from leading by volume, it also occupied the fifth position by value.”

An analysis of GlobalData’s Financial Deals Database reveals that Cravath Swaine & Moore occupied the second position in terms of value, by advising on $20.5 billion worth of deals, followed by White & Case with $15.8 billion, Hengeler Mueller with $15.3 billion, and AZB & Partners with $9.1 billion.

Meanwhile, Khaitan & Co occupied the second position in terms of volume with 28 deals, followed by TriLegal with 22 deals, Allen & Overy with 18 deals, and Baker McKenzie with 18 deals.

*Deals valued more than or equal to $1 billion.