@Ferran_ I also struggled with this initially, I think on face value (at least from resources that are available to the public) it is often very difficult to differentiate some firms from others. Like sure, they have a particular expertise in PE but which top firm doesn’t?
In instances like this, I began looking into what made their “common” attributes different. So, this went beyond looking at their top practice area, and instead researching into deals they’ve worked on, or clients they’ve worked with within that department - to see if there was a pattern e.g. specific sector knowledge/reputation, a focus on certain elements of a PE deal such as exit strategies etc. In doing this I managed to identify a sector within PE that was a key focus for many during Covid but lacked investor confidence, and detailed how TS were able to navigate the potential shortfalls to implement innovative exit strategies to ensure the fund was not only successful, but surpassed expectations.
You can realistically achieve this with most practice areas across many firms if you allow yourself to go beyond what Chambers & Partners classifies as “Top Tier”.
