Allen & Overy (A&O), Clifford Chance (CC) and Linklaters have been ranked top of project finance league tables announced this week.

According to Dealogic tables for legal advisers on 2006 global project finance deals, the three firms finished top after advising on a combined total of 139 transactions.

A&O came top, advising on 66 deals worth $18.2bn (£9.3bn), while CC came second, with 38 deals worth $14.4bn (£7.3bn). Linklaters came third after advising on 35 deals worth $13.27bn (£6.75bn).

The three firms are known to have had a strong year in projects and were also ranked at the top of a league table compiled by Infrastructure Journal this week.

However, the top firms held less market share between them than this time last year. A&O and CC held 8.6% and 6.8% of market share respectively in 2006, compared to 11.9% and 8.6% in 2005.

US firms also performed well, with Dealogic ranking Latham & Watkins fourth and Milbank Tweed Hadley & McCloy in fifth.

Global project finance deals 2006

Adviser

Value ($m)

Value (£m)

Deals

% share

2005 rank

Allen & Overy

18,202

9,211

66

8.6

1

Clifford Chance

14,395

7,318

38

6.8

2

Linklaters

13,271

6,746

35

6.3

9

Latham & Watkins

13,102

6,660

35

6.2

3

Milbank Tweed Hadley & McCloy

11,111

5,648

35

5.3

6