Why Mayer Brown is doubling down on private capital in London

Mayer Brown is doubling down on private capital in London as it seeks to build on the office's recent momentum, according to London managing partner Dom Griffiths.

Speaking on The Non-Billable Podcast, Griffiths explains how the Chicago-headquartered firm has spent the past several years expanding its capabilities across private equity, leveraged finance, private credit and adjacent practices through targeted lateral hiring.

The strategy comes as London continues to grow strongly, with office revenue rising 20% last year to $268 million.

Rather than trying to emulate the handful of firms competing for the very largest sponsor mandates, Griffiths says the firm's focus has been on building a stronger position in the mid-market.

"We've clinched significant volume in that middle market," he says. "We're pushing into the upper middle market, but we're not part of that group of law firms saying, 'We have to be Paul Weiss and Simpson and Kirkland.'"

Instead, he argues that Mayer Brown's opportunity lies in offering private capital clients a genuinely integrated platform spanning private equity, leveraged finance, structured finance, asset-based lending and fund finance.

"There are very few firms out there that can provide that full product range to clients, particularly US funds and European funds," he says.

Building around clients

That strategy has been underpinned by an active period of lateral hiring in London, although Griffiths insists recruitment is driven by client needs rather than portable books of business.

"What we’re looking for is people that we can put in front of our core client base to build out their expertise and to show clients that we can do more for them," he says. "We don't buy books of business."

For Griffiths, successful law firm growth comes from investing behind areas where a firm already has momentum.

"You've got to look at what you have and work out how you can maximise that," he says, arguing that firms should strengthen their leading practices, stay close to clients and build teams that believe in the firm's direction.

Looking ahead, Griffiths expects AI and external investment to reshape parts of the legal market, but believes the profession's core differentiator will remain unchanged.

"Clients really appreciate old-fashioned professionalism and dedication to the work," he says. "That is the perfect protector to AI."

Listen to the full conversation with Dom Griffiths on The Non-Billable Podcast.