Mourant taps private equity to fund AI and international growth

Mourant has sold a minority stake to private equity firm MML, in the latest sign that private capital is gaining traction across the legal sector.

The offshore legal heavyweight said the investment will fund AI, technology and international expansion, including acquisitions, strategic law firm partnerships and lateral hiring.

Financial terms were not disclosed, although the firm told the Financial Times that MML acquired a 27% stake.

Best known as an offshore law firm, Mourant is one of the world's largest offshore legal services groups, employing around 1,000 people across nine offices, including the Cayman Islands, British Virgin Islands, Jersey and Guernsey.

Alongside its law firm, the group also operates corporate services and consulting businesses.

Private capital

London-based MML specialises in taking minority stakes alongside existing management teams.

Mourant said the investment is being made into Mourant Group Limited, the holding company established last year that owns the group's corporate services and consulting businesses and provides managed services to its separate law firm entities.

Existing owners are co-investing alongside MML and will retain control of both the group and its leadership. Ownership and control of the separate law firm partnerships will remain with the relevant local partners, Mourant said.

Mourant chief executive Jonathan Rigby said the investment would accelerate Mourant's growth plans while supporting further investment in AI, data infrastructure and international expansion.

“This investment does not change what we are building,” he said. “It changes the pace at which we can build it.”

He added that MML “shares our high conviction in the integrated services platform, in the opportunity ahead of us, and in the team we have assembled.”

The transaction follows last year's deal in which fellow offshore heavyweight Walkers secured backing from Vitruvian Partners to expand its fund and corporate services arm, Walkers Professional Services.

Advising

Mourant was advised by Addleshaw Goddard, with Pinsent Masons advising MML.

Legal consultancy Dejonghe & Morley, the business launched last year by former Allen & Overy leaders David Morley and Wim Dejonghe, also advised Mourant on the investment.