Kirkland Tops $10 Billion Revenue Mark as Profits Spike

Kirkland & Ellis became the first law firm to crack $10 billion in revenue last year as profits per equity partner hit $11 million, according to a source familiar with the firm’s results.

The data, first reported by The American Lawyer, shows the world’s largest law firm continued its torrid growth streak despite relatively benign activity levels in the private equity markets it serves. Kirkland’s revenue has more than doubled since 2020, while average partner profits jumped by 80% during same time.

Kirkland last year added about $1.75 billion to its top line, a figure that would be equivalent to roughly the 30th largest law firm by total revenue. It became the first firm to reach eight figures in average partner profits.

The firm last year added significant heft to its litigation roster, focusing on mass torts cases that require large teams of lawyers. The litigation business has grown to a more than $3 billion segment at Kirkland, Bloomberg Law reported last year.

Still, the firm’s private equity relationships remain lucrative. Blackstone paid the firm roughly $88 million last year, which was down from more than $100 million the previous year.

Kirkland now employs more than 4,000 lawyers after an increase of about 8% in total headcount from the prior year. Equity partners rose nearly 4% to 595, while the firm’s salaried lawyer tier jumped 11% to 1,228.

Kirkland last year was also among the nine major law firms that struck a deal with the Trump administration to avoid a possible executive order targeting the firm.

Law firms had a strong performance last year overall, with banks that track their financial results reporting revenue growth around 13% on average.