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Cutting costs for external legal advice is the plan for 86% of private equity firm in-house counsel.

Private equity firms in the U.S. and U.K. are looking to cut their legal bills in the coming year, according to a survey of in-house counsel that bodes ill for one of the legal industry’s most lucrative practice areas.

The coronavirus pandemic; declining M&A activity and fundraising deal volumes; improved procurement skills; and a desire for greater billing transparency have all led to a push to reduce legal spend, the poll of 100 legal executives at buyout houses found.

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Hannah Roberts

Hannah joined Legal Week in May 2018 after finishing her degree at Kingston University. Her areas of focus are corporate, M&A, private equity and restructuring at UK and City-based US law firms. [email protected]

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