Top-20 international firm Ashurst Perkins Coie is to operate as an alternative business structure, its UK arm has revealed. However it denied speculation that the ownership model was chosen to enable private equity investment.
'We can confirm we are not seeking and have no intention to seek third-party investment, and the structure was not put in place for that purpose,' a spokesperson said.
The firm said ABS status would facilitate the global financial integration of Ashurst Perkins Coie from the beginning of 2027. In particular it allows Ashurst Perkins Coie Global LLP to become a member of Ashurst Perkins Coie UK LLP to facilitate financial integration.
Ashurst Perkins Coie will be created by the 'combination of equals’ announced last year between Ashurst and US-based Perkins Coie. The 950-partner business will have 3,500 lawyers, a turnover exceeding £2 billion and 52 offices in North America, Europe, Asia and the Pacific.
Ashurst last month announced record revenues in the run-up to the merger. In the year to 30 April 2026, turnover rose by 11% to £1.152bn and profit per equity partner to £1.592m.
The registration of the ABS prompted speculation because other transatlantic mergers, such as A&O Shearman, have not taken this route. Outside ownership of legal practices remains barred in most of the US.
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