Milbank

What Milbank does

Milbank LLP is an international law firm founded in 1866 and headquartered at 55 Hudson Yards in New York, with eleven offices across the Americas, Europe, and Asia (Los Angeles, Washington DC, London, Frankfurt, Munich, São Paulo, Hong Kong, Seoul, Singapore, and Tokyo). The firm provides legal services across a broad practice spectrum — corporate/M&A, capital markets, project finance, structured finance, antitrust, litigation and arbitration, trusts and estates, and regulatory advisory — serving corporations, financial institutions, private equity and infrastructure fund sponsors, and government entities requiring complex cross-border counsel. The firm is consistently ranked #1 globally in project, energy, and infrastructure finance league tables and earned Tier 1 rankings across Chambers USA (36 practices, 66 attorneys in 2026), Legal 500 US (32 practices in 2026), and Chambers HNW Private Wealth.

Milbank's revenue model is professional services fees, billed primarily on hourly rates for transactional, advisory, and litigation engagements, with some fixed-fee matters. The firm has no proprietary technology platform; instead, its competitive position rests on partner-led client engagement, elite directory rankings that drive inbound deal flow, and an unusually deep bench of former senior US government officials — including Neal Katyal (former Acting US Solicitor General), Richard Parker (former FTC Bureau of Competition Director), Josh Sterling (former CFTC Market Participants Division Director), and Olivia Choe (former SEC Chief Litigation Counsel). In November 2025, Milbank formalized its Digital Infrastructure Practice Group to address AI ecosystem transactions, building on over $125 billion in 2025 digital infrastructure deal volume across the full value chain from GPU procurement to data center financing.

Customer mix is concentrated at the high end of the enterprise market, with named engagements spanning I Squared Capital (subsea cable acquisition), British Columbia Investment Management Corporation (Northview Energy renewable platform with Norges Bank Investment Management and Brookfield), Digital Edge and B.Grimm Power (BKK Campus data center green loan), Kennedy-Wilson (bondholder advisory on consortium acquisition), and Maynilad Water Services (PHP34 billion Philippine IPO). Distribution is exclusively direct partner-to-client engagement with no intermediaries. Marketing is driven by directory rankings, thought leadership, and speaking engagements rather than consumer advertising.

Name

Milbank

Legal name

Milbank LLP

Website

https://milbank.com

Company type

Private

Founded year

1866

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Milbank LLP is an international law firm founded in 1866 with 11 offices across the Americas, Europe, and Asia, serving corporations, financial institutions, and PE/infrastructure fund sponsors on complex cross-border M&A, project finance, capital markets, litigation, and regulatory matters.

Ownership category

akta.pro rank

Product category

International Legal Services

NAICS

Management Consulting Services (54161)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• International legal services
• Cross-border M&A
• Project finance law
• Capital markets advisory
• Litigation services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Legal Services (Professional Fees): Milbank generates revenue through billable hours charged to clients for legal services across transactional (M&A, capital markets, project finance, structured finance), litigation and arbitration, trusts and estates, and regulatory advisory work. Fees are billed on an engagement-by-engagement basis, typically hourly rates for partners, counsel, and associates, or fixed fees for specific matters. Revenue is driven by the firm's high-value deal flow in complex cross-border transactions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Milbank LLP is an international law firm that provides legal advisory services on complex cross-border matters, including corporate/M&A, capital markets, project finance, structured finance (CLOs), financial restructuring, antitrust, litigation and arbitration, and trusts and estates. Services are delivered via partner-led engagements, billed primarily on hourly rates or fixed fees per matter. In 2025 the firm added a dedicated Digital Infrastructure Practice Group focusing on AI ecosystem-related transactions across the digital infrastructure value chain.

Product overview

Milbank LLP is an international law firm offering a comprehensive portfolio of legal services across multiple practice areas and industry sectors. The firm's primary structured offering is its Digital Infrastructure Practice Group, launched in late 2025 to support AI ecosystem-related transactions. The firm provides legal services across practice areas including Antitrust, Corporate, Corporate Finance and Securities, Derivatives and Fintech, Finance, Financial Restructuring, German Practice, Litigation & Arbitration, Real Estate, Tax, and Trusts, Estates & Exempt Organizations. The firm serves industries including Aviation, Biotechnology, Energy & Infrastructure, Financial Institutions Regulation, Gaming and Hospitality, Healthcare, Pharmaceuticals, Retail, and Space and Satellite. The Digital Infrastructure Practice Group represents a new dedicated practice area that builds upon the firm's existing project finance, structured finance, and corporate transaction capabilities to address the growing demand for legal counsel in AI infrastructure development.

Differentiator

Problem solved

Functional benefit

Products and services

• Digital Infrastructure Practice Group A dedicated legal practice group providing end-to-end counsel across the AI digital infrastructure value chain, including GPU procurement, powered land, data center development and financing, subsea cable transactions, and capital raises (debt and equity) throughout the capital stack. The group serves developers, sponsors, operators, lenders, and investors in the AI infrastructure ecosystem and was the leading legal advisor in the space, having counseled on over $125 billion in digital infrastructure deals in 2025.

Quantifiable outcome

• Over $125 billion in AI/digital infrastructure deals led in 2025
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Digital Edge and B.Grimm PowercoreStrategic or Co-development Partner · 13 May 2026Milbank served as legal counsel alongside White & Case, Chandler Mori Hamada, and Baker McKenzie Thailand on an $880 million green loan to fund the BKK Campus data centre in Chonburi, Thailand — the largest data centre project financing in the country. The 100MW facility is designed to support AI and data-intensive workloads.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Latham & Watkins: Latham & Watkins is the closest direct peer to Milbank: a top-tier US-headquartered international law firm with comparable strength in project finance, capital markets, M&A, and complex cross-border transactions, and a similarly broad global office footprint.
• Kirkland & Ellis: Kirkland & Ellis is a direct peer as one of the highest-grossing US law firms, with dominant practices in private equity M&A, debt finance, and restructuring — directly competitive with Milbank's private-equity sponsor, leveraged finance, and restructuring practices.
• White & Case: White & Case is a direct peer with overlapping strength in project finance, energy, infrastructure, and cross-border M&A, and a comparable global office footprint — competing head-to-head with Milbank on many energy and infrastructure mandates.
• Sullivan & Cromwell: Sullivan & Cromwell is a direct peer as an elite US-based international law firm with comparable M&A, capital markets, and project finance practices, frequently competing with Milbank on the largest cross-border transactions and securities offerings.
• Davis Polk & Wardwell: Davis Polk is a direct peer — an elite Wall Street firm with overlapping M&A, capital markets, and financial institutions practices, frequently cited alongside Milbank in the largest US transactional league tables.
• Cleary Gottlieb Steen & Hamilton: Cleary Gottlieb is a direct peer with elite antitrust, M&A, and international corporate practices that compete with Milbank's Antitrust and cross-border transactional capabilities, particularly on European and Latin American matters.
• Skadden, Arps, Slate, Meagher & Flom: Skadden is a direct peer as a top-tier US transactional firm with comparable M&A, capital markets, and international practices, regularly competing with Milbank on large corporate transactions and securities offerings.
• Wachtell, Lipton, Rosen & Katz: Wachtell is a direct peer — the premier US M&A and corporate governance firm — competing with Milbank for the largest public M&A mandates and board advisory work despite a much smaller overall headcount.
• Sidley Austin: Sidley Austin is a direct peer with overlapping project finance, healthcare, capital markets, and restructuring practices, and a comparable global platform that competes with Milbank in multiple high-value transactional segments.
• Paul Hastings: Paul Hastings is a direct peer with strong project finance, private equity, and capital markets practices, directly competing with Milbank on infrastructure and Latin America deals; notably, Milbank recently hired away partner Thomas Sines from Paul Hastings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/milbankllp
• Facebookfacebook.com/MilbankTweed

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Milbank