London helps drive growth at Kirkland & Ellis

Despite suffering a string of top-tier exits, the City arm of Kirkland & Ellis has been outperforming the rest of the firm's global practice.

According to numbers posted this week, revenue across Kirkland's non-US business grew 10 per cent last year, while overall growth at the firm lifted 7 per cent. Five of Kirkland's 12 offices are located outside of the US – in London, Shanghai, Munich, Hong Kong and Beijing. Total turnover across the five offices weighed in at just below $200m in 2015, with the firm's London office contributing an estimated $180m in turnover on its own.

Kirkland has significantly expanded its London presence in recent years, lifting its headcount in the City by 17 per cent in the last twelve months and twofold in the last five years. Currently, some 174 fee-earners and 62 partners are employed by the US-based firm in London.

Globally, total revenue lifted 7 per cent last year from $2.15bn to $2.3bn, while profit per equity partner grew 3 per cent to $3.6m. Kirkland's global headcount grew from 1,576 to 1,619 fee-earners in 2015, while its equity partnership grew 4 per cent to 351. Revenue per lawyer was recorded as being up 4 per cent at $1.4m.

Source: Legal Business

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