In 2015, mega deals were back on the table as companies gained in confidence due to the improving economy. In the first half of 2015 alone, 28 deals valued at more than $10 billion took place – together amounting to $678.1 billion, the highest value and deal count for any H1 period on Mergermarket’s record, and a mammoth 87.2 per cent leap in value with 12 more announcements compared to H1 2014. Overall, 2015 saw almost $4.9 trillion worth of deals according to research by McKinsey & Company: a 37 per cent rise in deal value from 2014.
From the 685 practitioners selected as market leaders in construction law across 56 jurisdictions, we highlight the most highly regarded firms and individuals in our global research in this section. Pinsent Masons tops our research once again with impressive candidates across the UK, Middle East and the Asia Pacific region. White & Case, Jones Day, Hogan Lovells and Herbert Smith Freehills also feature prominently on the global stage. Meanwhile, Clyde & Co stands out for its impressive Middle East offering. Several boutiques and national full-service firms are recognised, including, among others, UK construction specialist Fenwick Elliott; Clayton Utz in Australia; Canada’s Borden Ladner Gervais; as well as pre-eminent US construction firm Peckar & Abramson and US full-service firm Pillsbury Winthrop Shaw Pittman. Meanwhile, Keating Chambers tops our UK bar rankings, followed by Atkin Chambers. Among our most highly regarded individuals we select 10 thought leaders from the North America market, as well as a further five from Europe, the Asia-Pacific region and the Middle East.
In our most comprehensive research into the construction consulting expert market to date, 103 leading figures in quantum and delay are identified from across 11 jurisdictions. Several firms achieve a high number of listings including international constuction specialists Hill International which is represented by 17 experts across Europe, Asia, the US and the Middle East. The global offerings of Navigant, Secretariat and FTI Consulting also among those to feature prominently in this year’s results, while a number of prominent indivduals from local outfits are also widely regarded by the international construction legal market.
Several international firms stand out for their strength and depth in this field, while a substantial number of leading individuals are listed from local and boutique firms.
While the global construction industry is beginning to gain pace once more, the after-shocks of the global financial crisis are still being felt by the law firms and practitioners tending to the industry. Cost-conscious, sophisticated clients are the new norm, challenging the legal market to adapt to their needs for globalised advice and price certainty.
Government procurement continues to grow in prominence and the issues and legislations surrounding it are becoming a more topical concern. Governments are at pains to secure value for money for the tax payer and reduce their infrastructure deficit; as a result, the market for securing contracts has been increasingly competitive over the last five years. Disputes arising from these contracts, including challenges to the bid process have grown due in part this competitive pressure. Over the last few years, ongoing changes to legislation and reviews into procurement processes have ensured that legal teams have been kept busy in two of the biggest procurement markets in the world, namely Europe and the US.
With 28 lawyers from 11 different firms highlighted in our research, private client is a prominent practice area in Central America. Experts are located across five countries, reflecting the strong provision of private client legal services across the region.
Since the beginning of private sector participation in the Central American energy markets in the 1990s, energy and mining has been a key source of regional investment. Although the first 15 years of the open market was overly reliant on the oil sector, this began to be rectified in the mid-2000s. Indeed, the renewable energy sector has expanded dramatically in the last 10 years and in 2014 renewables were the source of almost 64 per cent of electricity generation in the region.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.