Ed.
note:
Welcome
to
our
daily
feature, Quote
of
the
Day.
We
think
the
first
[Biglaw]
deal
will
come
from
the Second
Hundred,
and
we
do
think
it’s
going
to
come
in
calendar
year
2026.
—
Bob
Maiden,
an
M&A
adviser
with
Focus
Investment
Banking,
in
comments
given
to
the
American
Lawyer,
concerning
the
likelihood
that
a
private
equity
firm
will
invest
in
a
Second
Hundred
firm
before
the
end
of
the
year.
“First
of
all,
the
cap
table
is
smaller.
In
our
world,
that
means
that there’s fewer
decision
makers,”
he
said.
“In
the
Second Hundred,
you
still
have
founders
that
are
active
in
their
firms.
In
some
of
them,
they
still
have
ownership.
You
might
say, there’s 100
equity
partners,
but
at
the
end
of
the day there’s only
so
many
of
those
partners
that
really
make
the
decisions.”
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
free
to email her
with
any
tips,
questions,
comments,
or
critiques.
You
can
follow
her
on Bluesky, X/Twitter,
and Threads, or
connect
with
her
on LinkedIn.