Ranking tables
Capital Markets: Equity | Global
Global: Multi-Jurisdictional
Rankings overview for Departments
Band 1
Band 2
Band 3
- Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates 4 Years Ranked
- Sullivan & Cromwell LLP 4 Years Ranked
- Cleary Gottlieb Steen & Hamilton LLP
All Departments profiles
Band 1
1 A&O ShearmanCapital Markets: Equity2025 | Band 1 | 6 Years RankedA&O Shearman is a renowned firm with a laudable global capital markets practice. The firm features offices in many key financial centres, including London, Frankfurt, Hong Kong, New York and Singapore. The law firm offers:
• Market-leading debt capital markets and securitisation capabilities
• In-depth experience in African high-yield and equity deals as well as in equity mandates in the Middle East.
• Close affinity to the financial sector, with large investment banks and global financial institutions among its clients.
• Experience advising on a range of cross-border sovereign bond issuance matters, high-profile capital raisings and IPOs.
1 Clifford Chance LLPCapital Markets: Equity2025 | Band 1 | 4 Years RankedClifford Chance is a globally recognised brand with leading expertise across debt, equity and securitisation within capital markets. The law firm offers:
• Expertise in a range of debt capital markets issues, and it is well versed in investment-grade and green bonds, liability management, sovereign issues and emerging market issuances.
• Extensive experience of large IPO transactions and listings across a diverse range of markets, including the London Stock Exchange.
• A widely recognised capability in US derivatives and leading expertise for structured finance work across Europe and Asia.
• Familiarity representing the largest global financial institutions and investment banks.
1 Latham & Watkins LLPCapital Markets: Equity2025 | Band 1 | 4 Years RankedLatham & Watkins has a respected team with extensive experience and expertise. The law firm offers:
• A leading issuer and sponsor practice in relation to high-yield products.
• An equity capital markets team that has experienced impressive growth globally, particularly through an increased presence in Europe and emerging markets.
• Strength in depth across equity, debt and high-yield matters and adeptness in advising non-US issuers attempting to access US capital markets.
• Noteworthy strength in securitisation.
1 LinklatersCapital Markets: Equity2025 | Band 1 | 4 Years RankedLinklaters is a leading UK firm that stands out for the breadth of its expertise in capital markets. The law firm offers:
• A highly regarded practice for a wide range of debt issuances, structured lending transactions and IPOs.
• Strong relationships with many large financial institutions, regularly serving as underwriters' counsel, while also remaining a popular choice for issuers and corporate clients.
• A highly integrated global team, particularly impressing across Europe and Asia, offering seamless handling of cross-border matters.
• An impressive ability to win instructions on complex global equity transactions.
Band 2
2 Davis Polk & Wardwell LLPCapital Markets: Equity2025 | Band 2 | 4 Years RankedDavis Polk & Wardwell is a prominent US firm with a significant global profile in capital markets across a range of jurisdictions. The law firm offers:
• A leading New York-headquartered capital markets group in the USA.
• A focused team in the UK with a strong emphasis on capital markets that enhances the firm's market share in Europe, particularly in relation to US-law issuances by European companies.
• Impressive Asian and Latin American practices.
• Experience acting for international corporations and banks on some of the most high-profile IPOs in the global market and on complex high-yield and debt capital transactions.
2 FreshfieldsCapital Markets: Equity2025 | Band 2 | 4 Years RankedFreshfields is a highly regarded international firm with a particular emphasis towards corporate clients and issuers. The law firm offers:
• Distinguished equity capital markets work and excellent coverage across Europe.
• Experience working with international clients throughout its London, Frankfurt, Hong Kong and New York offices.
• Expertise advising on IPOs and equity-linked debt securities.
• Familiarity acting for an impressive list of government entities and major investment banks.
2 Simpson Thacher & Bartlett LLPCapital Markets: Equity2025 | Band 2 | 4 Years RankedSimpson Thacher & Bartlett possesses a diverse capital markets practice with extensive expertise in debt, high-yield and equity matters. The law firm offers:
• Considerable strengths from its US base, with high-end practices across the range of products in New York.
• Global strength through a well-regarded London high-yield practice and a highly rated team of lawyers across Asia.
• Substantial experience assisting first-time issuers and a well-regarded private equity practice to complement its global capital markets offering.
2 White & Case LLPCapital Markets: Equity2025 | Band 2 | 4 Years RankedWhite & Case is a globally renowned firm that possesses impressive capabilities in many key financial areas, as well as local law expertise in numerous other jurisdictions. The law firm offers:
• Particular strength in the debt capital markets space.
• An excellent track record in high-profile and complex Islamic financing and sukuk matters, as well as in sovereign debt issuances.
• Long-standing experience in Africa, the Middle East and emerging markets.
Band 3
3 Skadden, Arps, Slate, Meagher & Flom LLP & AffiliatesCapital Markets: Equity2025 | Band 3 | 4 Years RankedSkadden, Arps, Slate, Meagher & Flom is an internationally-respected firm that offers an impressive spread of capital markets practices across areas of specialism. The law firm offers:
• Specialist capabilities in equity and regulatory matters, while maintaining notable capabilities in high-yield and structured finance
• Considerable strengths across key economic centres, including New York, London and São Paulo
• A Hong Kong office adept at handling a wide range of debt and equity transactions, with a strong track record in major IPOs in China.
• Experience working with large investment banks, Fortune 500 companies and other financial institutions.
3 Sullivan & Cromwell LLPCapital Markets: Equity2025 | Band 3 | 4 Years RankedSullivan & Cromwell is a distinguished US firm with a leading equity capital markets practice. The law firm offers:
• Significant transatlantic capabilities through the combination of its top-tier US team and its impressive London and Frankfurt offices.
• Broad expertise which includes IPOs, investment-grade debt offerings, collateralised loan obligations and acquisition financing.
• Strong relationships with, and experience representing, significant underwriter and issuer clients across Asia, Europe and Latin America.
• Experience in global debt and equity listings with US law components, regardless of origin.
Band 4
4 Baker McKenzieCapital Markets: Equity2025 | Band 4 | 4 Years RankedBaker McKenzie has a respected capital markets practice with an impressive global footprint spanning across Europe, Asia, the USA and the Middle East. The law firm offers:
• Extensive experience representing issuers in equity offerings, with experience on the underwriter side.
• Experience working with global investment banks and financial institutions.
• Strong capabilities assisting with transactions in emerging markets and across Asia and the Middle East.
• Further strength in depth in its public M&A and equity markets teams through new hires in the USA.
4 Herbert Smith FreehillsCapital Markets: Equity2025 | Band 4 | 4 Years RankedHerbert Smith Freehills possesses a strong reputation across several regions, particularly Europe, the Middle East and Asia. The law firm offers:
• Experience advising a mixture of underwriters and issuers on cross-border transactions.
• Expertise in areas including convertible bonds, sukuk products, investment-grade bonds, IPOs and US-listed securities.
• A highly regarded London team which is the key centre for the firm's capital markets work, and a strong group in Asia particularly active on Hong Kong listings.
4 Sidley Austin LLPCapital Markets: Equity2025 | Band 4 | 4 Years RankedSidley Austin has a vastly experienced capital markets team with particular proficiency in advising on debt capital transactions, along with structured finance, securitisation and high-yield products. The law firm offers:
• Experience acting for financial institutions due to its significant focus on the financial sector across its global platform.
• Knowledge of matters including mortgage and asset-backed securities, CLOs and conduit transactions.
• Strength in London and Hong Kong and across the USA for securities and debt work, in both investment-grade and non-investment-grade bonds.