The annual IFLR awards have always aimed to reward
innovation in the key practice areas the magazine covers: debt
and equity capital markets, M&A, project finance,
securitization and restructuring. Within that, some areas have
always had greater interest from law firms (generally gauged by
the volume of submissions for each practice area).
Securitization, for example, grew substantially in popularity
for a few years, before levelling off, and the buzz around
M&A has always been largely in line with the performance of
the stock market.
This year, however, IFLR felt that two areas deserved to be
stripped out of the six established awards. The growth in
private equity and in structured products deserved to be