Portuguese law firms are reporting growth in revenue as transactional work increases – however, with some of the country’s major assets being acquired by foreign investors, the long-term outlook for Lisbon lawyers is uncertain
Private equity funds and hedge funds from the US and the UK are eyeing Portuguese assets, while international companies are seeking to expand their operations
Portugal is now seeing an increase in global law firm alliances, but with their structure often unclear, what impact they will have on the market is still unclear, says Pedro Rebelo de Sousa, senior partner
Regulatory changes are opening up opportunities for new players, such as ‘challenger’ banks and fintechs that will be able to build services on the back of customers’ existing accounts
Clients want to pay less and want alternative fee arrangements with the result that law firms have had to review how they provide legal services and change their business models
Calmer European markets, uncertainty in Brazil and the oil crisis in Angola has led to investors targeting more assets in the Portuguese market
