While mega M&A deal activity continues to go strong in 2024, so does midmarket private equity—a reliable source of corporate work for much of Big Law.

In general, private equity activity has been hurt in the last couple of years by high interest rates, and it has yet to fully recover to pre-pandemic levels. According to Pitchbook, U.S. private equity activity overall has ticked up about 10% in the first half of 2024, but it lags behind the 20% increase in corporate-led M&A so far this year.