Private Capital

Private capital in UK professional services firms

Factors shaping attitudes towards investment

2025 saw a surge of private capital investment in professional services firms. Will that trend continue through 2026 and beyond?

Consolidation opportunities in fragmented markets, the push to grow non-audit businesses and demand for technology and gen-AI investment are all driving investment activity in the professional services sector.

To get a better insight into what firms really think about external investment, we surveyed 150 equity partners from legal, accounting and consulting firms across the UK. The results of that survey suggest that there is an overwhelmingly strong appetite towards private capital investment.

Private capital in UK professional services firms – report cover

This report covers:

the drivers for seeking external investment and how that differs across sectors and size of firm;
generational differences in attitudes towards private capital; and
how to navigate some of the unique features of transactions involving professional services firms.

Download report

Report at a glance

75%

Of equity partners are very likely to consider external private capital – or already have.

67%

Believe external capital is critical or important for staying competitive.

94%

Of smaller firms (under £25m revenue) would consider investment in the next five years.

62%

Rank loss of professional independence as their top concern for external investment.

75%

Of equity partners are very likely to consider external private capital – or already have.

67%

Believe external capital is critical or important for staying competitive.

94%

Of smaller firms (under £25m revenue) would consider investment in the next five years.

62%

Rank loss of professional independence as their top concern for external investment.

Partner perspectives on the survey findings

Partners Jessica Adam and Alex Edmondson share their perspective on what the results reveal – and what professional services firms should consider before pursuing, or rejecting, external investment.