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In addition to bank debt, law firms now tap into revolving credit facilities, asset-backed lending, private equity and even specialist legal sector fundsPhoto Illustration: FN Staff/Getty Images

Victoria Ritchie is head of professional and business services at HSBC UK

The UK legal sector has seen significant shifts in recent years. The increasing appetite for external investment is now well established, with law firms enjoying substantial interest from private equity houses looking to offer growth funding.