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Recognition

Latham Sweeps FY 2025 Private Credit League Tables

February 24, 2026
9fin, Octus, KBRA DLD
The firm topped the private credit league tables in 2025, cementing its position as the clear market leader.

Latham & Watkins ranked #1 across 9fin, Octus, and KBRA DLD FY 2025 direct lending/private credit league tables — the three leading sources tracking direct lending activity. According to 9fin data, Latham advised on 466 private credit transactions in the US and Europe — double the second-ranked firm and more than the second- and third-ranked firms combined. These rankings reflect Latham’s strength across the global private credit market, representing lenders, borrowers, and sponsors on transactions spanning large cap, middle market, and M&A financings in the US and Europe.

Latham’s FY 2025 private credit league table rankings include:

KBRA

#1 US Direct Lending (Lender Representation) by Deal Count
#1 US Direct Lending (Combined Buyside, Sellside & Lender) by Deal Count
#1 EMEA Direct Lending (Lender Representation) by Deal Count
#1 EMEA Direct Lending (Combined Buyside, Sellside & Lender) by Deal Count

OCTUS

#1 US Direct Lending Legal Adviser: Total Engagements
#1 US Direct Lending Legal Adviser: Lender Engagements
#1 US Direct Lending Legal Adviser Large Cap (>US$500 million): Total Engagements
#1 US Direct Lending Legal Adviser Large Cap (>US$500 million): Lender Engagements
#1 US Direct Lending Legal Adviser Middle Market (<US$500 million): Total Engagements
#1 US Direct Lending Legal Adviser M&A: Total Engagements
#1 US Direct Lending Legal Adviser Middle Market M&A: Lender Engagements
#1 Europe Direct Lending Legal Adviser: Total Engagements
#1 Europe Direct Lending Legal Adviser: Borrower/Sponsor Engagements
#1 Europe Direct Lending Legal Adviser Middle Market (<€/£250 million): Total Engagements
#1 Europe Direct Lending Legal Adviser M&A: Total Engagements

9FIN

#1 Global Private Credit: Combined Lender and Borrower Counsel by Deal Count
#1 Global Private Credit: Lender Counsel by Deal Count
#1 Global Private Credit: Borrower Counsel by Deal Count
#1 US Private Credit: Combined Lender and Borrower Counsel by Deal Count
#1 US Private Credit: Lender Counsel by Deal Count
#1 Europe Private Credit: Combined Lender and Borrower Counsel by Deal Count
#1 Europe Private Credit: Lender Counsel by Deal Count
#1 Europe Private Credit: Borrower Counsel by Deal Count

Endnotes