White & Case Posts $3.6 Billion Revenue as Profits Also Tick Up

White & Case revenue grew more than 8% to $3.6 billion in 2025, half generated by cross-border work, the firm said in figures released Thursday.

The uptick likely keeps White & Case near the 10 largest US law firms by revenue but trails the 13% average gains across Big Law that Wells Fargo reported in January. The firm posted profits per equity partner of $4.4 million, a 10% increase, the figures show.

“I’m proud of that performance because it reflects exceptional work that we did for our clients across the firm,” Heather McDevitt, White & Case’s chair, said in an interview. “I think we’re entering 2026 with strong momentum that’s pushing us forward with healthy inventory.”

The firm’s largest transaction of the year was steering the sale of Calpine Corp. to Constellation Energy Corp. for $16.4 billion, a deal announced in January. Its lawyers advised on 267 M&A transactions worth $203.9 billion last year, according to Bloomberg Law’s League Tables.

White & Case’s lofty three-year strategic plan aims to hit the $5 billion revenue mark by 2028. That would amount to a more than 28% gain compared to last year.

The firm will continue to invest in its US capabilities while also doubling the flow of work between the US and the rest of the world, McDevitt said. It is “very focused on bringing in teams of lateral partners,” said. “We see teams as being a good way to accelerate growth.”

White & Case added 51 lateral partners across 11 offices last year, including 15 in New York and 14 in London. The firm brought on a team of M&A lawyers from Cadwalader Wickersham & Taft, as well as multiple hires from Ropes & Gray and Weil Gotshal & Manges.

New York-based McDevitt took over as firm leader in September 2023, succeeding Hugh Verrier, who had led the firm since 2007.

Cross-Border

White & Case has continued to boost global work as clients navigate shifts in geopolitics, including tariffs, armed conflicts, and stresses on long held global alliances

Last year, the firm advised a consortium of Qatari and Turkish investors in a $7 billion investment in Syrian power plants. It sees future growth potential in sovereign wealth work as a client base within private capital, which is a focus area.

“The way we collaborate as a cohesive, integrated global partnership when matters are most complex is going to enable the firm to face an increasingly complex and unpredictable world in a way that helps our clients through this uncertainty,” McDevitt said.