US fund Abry Partners agrees to buy Chambers & Partners for 459 million euros: what are the implications?

Big news shook the legal world on Wednesday, November 8: the prestigious British firm Chambers & Partners will be taken over by Abry Partners, the Boston-based investment fund that also owns Best Lawyers.

Private equity investment firm Inflexion had acquired Chambers in 2018. Now, with this sale, the firm would obtain gains more than four times larger than its initial investment.

Chambers & Partners, a London firm founded in 1990 and considered the most trustworthy voice of legal rankings, spanning more than 200 countries, has transformed its business model in recent years, integrating into the digital world and offering an online subscription. In addition, Chambers has consolidated greater influence on the global stage thanks to its recent expansion into China and Brazil.

The new acquisition is striking because Abry Partners already owns Best Lawyers, another directory that positions law firms and lawyers.

This U.S. firm, which Abry bought in 2021, is caught in controversy. Its nominations of lawyers based on peer reviews, the lack of transparency in its selection methodology, and the sale of ads to law firms have led numerous experts to denounce biases in its rankings.

It remains a question whether there will be any kind of integration between Chambers & Partners and Best Lawyers. But it is clear that, with this move, Chambers’ presence in the United States continues to strengthen.

Author: Marina Vanni