Profits per equity partner improved by 3.3% at Locke Lord in 2023, but revenue slipped marginally as some practices were busy, but others faced challenges from higher interest rates.

Managing partner David Taylor described the Dallas-founded firm’s financials results as “solid,” and busier practices included private equity, energy M&A and transactions, insurance and reinsurance transactions and litigation, financial services, commercial litigation, corporate, and labor and employment. However, he said, demand in real estate in particular was affected by interest rates.