Non-Billable

🚨 This week Anthropic - the AI giant behind Claude - announced it will start adding an invisible watermark to all outputs it generates. The move is Anthropic's response to new requirements under the EU AI Act, which says that providers of AI systems must ensure their outputs are detectable as AI generated, but will go into effect globally. And the impact could extend well beyond people using Claude directly. Many of the AI tools now being used by lawyers are powered by underlying models from companies like Anthropic, meaning those markers could potentially flow through into the work produced by legal AI platforms too. Full story: https://lnkd.in/e9s8PeM3

🚨 London law firms are stepping up the hunt for new offices as a shortage of high-quality space pushes firms to plan ahead. Demand from the legal sector increased 6.1% during the second quarter, according to new data from Knight Frank. Richard Proctor, Knight Frank's head of UK occupier strategy, said there is a “pronounced mismatch” between demand and supply in the most desirable areas. More here: https://lnkd.in/e4cgqiZq

What's the best way to grow a law firm? For Mayer Brown London boss Dominic Griffiths, the answer is less complicated than it needs to be: back the right areas, manage with empathy, cut the endless meetings and go after the clients. Full episode link in the comments.

🍾 Akin and Kirkland & Ellis have landed lead roles on the £4.5bn sale of PE-owned ATG Entertainment to a live events group founded by Hollywood power broker Ari Emanuel. More here: https://lnkd.in/eKjqNEDE

🚨 Simmons has continued its recent funds-focused push with the hire of partner Jim McNally from McDermott in London. McNally joined legacy firm Schulte Roth & Zabel in 2012 and moved across to McDermott when the US firms completed their merger last year. More here: https://lnkd.in/e32-ZHgN

🚨 Simmons & Simmons has pushed NQ pay in Bristol to £104,000, extending its comfortable lead as the highest-paying major law firm in the city. London rates have also been increased. More here: https://lnkd.in/ewJtfHC7

🚨 A legal recruitment firm says it earned a £2 million fee from a corporate real estate placement last year, offering a rare public glimpse into the lucrative economics behind the market for senior legal talent. London-based H&P Executive Search headhunted "one of the most renowned property solicitors" and placed him in an eight-figure role. The firm was founded by Jack Hayes just a few years out of university and takes an un-British approach to celebrating success, publicly showcasing large commission cheques while rewarding top recruiters with all-expenses-paid trips from Cancun to the Bahamas. https://lnkd.in/ePZq-VfK

🚨 Another legal AI startup founded in Stockholm has announced a fundraise. This time, it’s Aloi, which has raised €6.1 million as it looks to expand internationally. The company was co-founder by CEO Johan Häger who was previously a senior partner at top Nordic firm Roschier. More here: https://lnkd.in/e9Uk28Sr

🚨 Vinson & Elkins has hired Ashurst Perkins Coie partner Michael Burns to lead its energy and infrastructure M&A practice across EMEA. Burns joins the firm's London office after more than 20 years advising private capital investors, corporates, developers and platform companies on cross-border M&A, joint ventures and capital raises. More here: https://lnkd.in/ew4qFhCP

Why haven’t more law firms taken outside investment? Knights CEO David Beech says there’s a fundamental mismatch: traditional law firm partnerships are built to take cash out, while external investors want businesses that put it back in. Listen to the full episode, link in the comments.