The London-based firm, known for its work representing Diana, Princess of Wales in her divorce from the Prince of Wales and more recently for representing anti-Brexit campaigner Gina Miller, is reported to be in talks with bankers about capital raising.

No decision yet

The talks include an initial public offering on the stock market, as well as a deal to sell a stake to a private equity investment. Such sale would be expected to result in a valuation of several hundred million pounds. The law firm said it is looking at raising funds to fuel its “ambitious” growth plans. A spokesman said, “Mishcon de Reya LLP has delivered significant growth over the past 15 years,” and “As a financially robust and dynamic firm we have ambitious plans for the next phase of growth and to achieve this are considering all options for raising capital. No decisions have yet been made.”

Challenging market conditions

In 2017-18, the company reported revenues of £161.3m, a rise of 8pc on the year to a record high. However that was down from growth of 17pc in the previous financial year. Mishcon said market conditions had been “challenging and unpredictable”. Profit per senior equity partner came in at £1m. A listing is unlikely to take place until next year, but and IPO would see the firm joining a roll call of peers ton the London stock market, including Gateley, Gordon Dadds, Keystone Law, Rosenblatt Solicitors, Knights Law and DWF. Recent rival DWF has market value is £368m according to one analyst.