Dealmakers in all forms see both opportunity and challenge in the coming year, with some aspects of that work (see: funds) having a rosier outlook than others (see: large, public M&A). But while predictions for the health of various elements of the dealmaking world vary, by and large deal lawyers see a brighter road ahead than the one that led into 2023.

The hurdles that contributed to the drop-off in activity are still mostly the same. Regulatory bodies continue to pay close attention to acquisitions. Geopolitical events in Europe and Asia show no signs of abating. Inflation, while not at its peak from several months ago, is still a cause for concern. Interest rates are not dropping anytime soon and the end game for where they will stabilize is still a shot in the dark.