Latham & Watkins is positioning itself as a dominant force in the booming market for energy and power company IPOs driven by the rapid expansion of AI data centres.
The firm’s Houston office has emerged as a critical hub for new market offerings, combining sector expertise, client proximity, and deep industry knowledge to capture a growing share of deal flow.
Ryan Maierson, a capital markets and M&A partner at Latham’s Houston office, made the case for the firm’s competitive edge in comments given to Bloomberg Law.
“That combination of product specialization on the IPO and public company side, geographic proximity to the clients and industry knowledge — that’s what we think makes us dangerous,” Maierson said.
The choice of words was deliberate, with Maierson’s use of “dangerous” signalling the firm’s confidence in its ability to outmanoeuvre rivals in one of the most active corners of the capital markets.
Texas has long been central to the energy sector, but the rise of AI infrastructure has created an entirely new wave of corporate activity that is reshaping the IPO landscape.
Power companies servicing AI data centres require vast capital investment, and many are turning to public markets as a route to fund their ambitious infrastructure buildouts.
Latham’s strategic presence in Houston gives it a geographic and relational advantage over firms operating primarily from New York or other major financial centres.
Maierson says the firm is on course to record its busiest year for U.S. energy IPOs since 2014, a benchmark that underlines just how significant the current moment is for the sector.
The 2014 comparison is particularly striking given that year represented the height of the previous American energy boom, before oil prices collapsed and deal activity slowed dramatically.
A sustained surge in AI-related energy offerings is now creating conditions that could rival or surpass that earlier peak, with Latham well-placed to benefit from the cycle.
The convergence of technology demand and energy infrastructure investment is generating a pipeline of transactions that shows little sign of slowing through the remainder of 2026.
For Latham & Watkins, the firm’s ability to integrate capital markets expertise with genuine industry fluency appears to be translating directly into mandates and market share.