Law Firms

Kirkland Is World's Most Valuable Law Firm, According to New Calculation


Kirkland & Ellis has a valuation nearing $4 billion, putting it at the top of a new ranking of the world’s most valuable law firms.

The American Lawyer used a “classic investment banking technqiue of developing cash flow multiples” to determine each firm’s actual worth. The article details the formula.

The magazine found 33 firms have valuations above $1 billion. The top five on the list are:

1) Kirkland & Ellis ($3.953 billion)

2) Latham & Watkins ($3.796 billion)

3) Skadden, Arps, Slate, Meagher & Flom (3.337 billion)

4) Allen & Overy ($2.714 billion)

5) Gibson, Dunn & Crutcher ($2.707 billion)

A new British law allowing outside investment in law firms has highlighted the need to determine law-firm worth, the story says.

Meanwhile, Crain’s Chicago Business has a profile of Kirkland & Ellis chairman Jeffrey Hammes, who was recently elected to a second term. The story describes Hammes as a “hard-nosed contractor’s son from suburban Milwaukee” who “rode a private-equity boom to the top of Kirkland.”

Kirkland has grown by 20 percent since 2008. It now has 1,600 lawyers. According to Crain’s, the firm has a “take-no prisoners culture.”

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