Ex-Allen & Overy leaders launch consultancy to connect private equity with UK law firms
Two former senior partners of leading international law firm Allen & Overy have launched a new consultancy to advise private equity investors seeking to enter the UK legal sector.
Wim Dejonghe and David Morley, both past managing partners at the magic circle firm – now merged into A&O Shearman – have unveiled Dejonghe & Morley, a boutique advisory platform focused on matching capital with legal sector opportunities.
The move comes amid rising private equity interest in professional services, particularly law firms, as investors seek exposure to a high-margin sector increasingly under pressure to scale operations, invest in AI, and digitise service delivery.
Dejonghe and Morley believe that more transactions between law firms and investment firms will emerge in the next 12 to 18 months. “Firms have strategic choices to make. Before long, I think every firm is going to find themselves competing with some kind of private equity model,” said Morley.
CVC, Cinven, and Permira are among the buyout firms reportedly evaluating opportunities in the legal space, although they have not publicly commented. The trend mirrors growing activity in adjacent sectors, such as private equity’s recent entry into the accounting industry, including Cinven’s investment in Grant Thornton.
Inflexion took UK law firm DWF private in a £342m deal in 2023, while Investcorp acquired UK family law firm Stowe. These transactions suggest growing appetite for scalable legal assets aligned with digital innovation.
Dejonghe, who led the A&O merger with Shearman & Sterling, highlighted artificial intelligence as a catalyst for structural change. “At some point AI will change the business model,” he said. “If you don’t engage with the potential impact and keep working with leverage and hourly rates, you’ll ultimately lose out in the market.”
While the UK opened its legal market to non-lawyer ownership over a decade ago, the uptake has been mixed. RBG Holdings, one of the early listed law firms, delisted in 2025 following governance and funding challenges. The founders of Dejonghe & Morley aim to support more sustainable private capital partnerships by leveraging their leadership experience to bridge the gap between law firms and investors.