Sidley Austin

Sidley Austin is one of the largest law firms in the world.

Founded in Chicago in 1866, Sidley has grown from a Midwestern firm into one of the world’s preeminent legal giants, with more than 2,300 lawyers spread across 21 offices worldwide, and global revenue of $3.1 billion.

Sidley’s presence stretches across all the major legal markets, with US strongholds in New York, Chicago and Washington D.C., and bases in all the key financial centres globally, including London, Singapore, Hong Kong and Tokyo.

The firm’s London office, established way back in 1974, serves as an increasingly important hub for its European operations and plays a pivotal role in the firm's global strategy. The office is now home to over 150 lawyers, including more than 50 partners.

While Sidley may not command the same brand recognition in the UK as some of the Magic Circle firms, its reputation in the US is right up there with the likes of Kirkland & Ellis, Latham & Watkins and Skadden.

Widely regarded as edging closer to full-fledged ‘global elite’ status, Sidley is firmly positioned alongside top-tier US rivals and is increasingly comparable to the most prestigious Magic Circle names on the international stage.

In the London market, Sidley is probably best known for its powerhouse banking and finance practice, advising banks, asset managers, private equity firms, and corporate borrowers on everything from regulatory compliance and restructuring matters, to high-yield bond issuances and derivatives and structured products.

The firm’s leveraged finance practice is perhaps its strongest card, handling big-ticket mandates with an increasing focus on private equity deals. It’s also a strategic priority for Sidley, reflected in a string of recent high-profile hires from top US rivals in London.

With its growing bench strength, the firm is positioning itself to compete head-to-head with the likes of Kirkland and Latham as the City’s go-to debt finance adviser on the largest buyouts.

Other things to know

Raid on Latham & Watkins: Sidley hired at least 18 finance lawyers - including eight partners - from Latham & Watkins in London in 2024. The moves were a key part of Sidley’s strategy to become one of the City’s leading private equity shops for borrower-side advice.

Breaking $200m in London: Sidley increased its UK revenue by 12.4% to $209.7 million in the 2023 financial year, accounting for about 15% of its global turnover. It was the first time the firm has broken the $200 million revenue mark.

What is Sidley Austin known for?

Sidley Austin is a full service corporate law firm. In the UK market, it is best known for its expertise in the following areas:

Leveraged Finance: A key area of focus for Sidley in London, it has a fast-growing sponsor-side finance practice greatly boosted by the string of high-profile hires it made from Latham in 2024. The firm is ranked in Band 3 by Chambers for borrower-side advice.

Capital Markets: Sidley has a strong debt capital markets (DCM) practice, advising issuers including corporate borrowers, financial institutions and private equity sponsors. The firm has a Band 3 ranking by Chambers.

Corporate/M&A: Sidley has a growing reputation as a leading adviser on mid-market M&A transactions. It has a Band 4 ranking by Chambers on mid-market deals.

What's Chambers?

We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.

It's important to note that being ranked in any band at all is still considered a significant achievement.

Who does Sidley Austin compete with?

Globally, Sidley Austin competes with the top tier of US firms considered the elite players globally.

In the UK market, on high-profile finance mandates, Sidley competes with the Magic Circle and leading US rivals like Kirkland, Latham, Paul Weiss and Simpson Thacher.

Sidley Austin is one of the biggest law firms in the world by revenue. In 2023, its global revenue was $3.1 billion.

In 2023, its profit per equity partner (PEP) was $4.59 million.

How much does a partner at Sidley Austin make?

In 2023, Sidley Austin’s average profit per equity partner (PEP) was $4.59 million.

This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.

This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.

How many trainees does Sidley Austin take?

Sidley Austin takes on around 17 trainees each year in London. The firm currently has one intake starting in August.