Herbert Smith Freehills (HSF) and Kramer Levin have announced a merger that will create a global legal powerhouse with over $2 billion in revenue.
The combined firm will be known as Herbert Smith Freehills Kramer, or HSF Kramer, in the US.
It will have over 2,700 lawyers including around 640 partners across 25 offices.
It will be among the top 20 largest law firms by headcount and one of the top 20 integrated firms by revenue in the world, according to a joint statement.
The merger seeks to combine HSF’s reach across Asia, Australia, Europe, the Middle East and Asia (EMEA), and the UK, with Kramer Levin’s offering in New York, Washington DC, and Silicon Valley.
It will accelerate the firm’s growth in the US across sectors such as energy, financial services, infrastructure, mining, and technology, and advance in areas including private capital, M&A, restructuring, securitisation, real estate, white collar corporate crime and investigations, class actions, intellectual property, and arbitration.
Both firms have a Middle East practice, with HSF on the ground in Dubai and Riyadh.
They operate as partnerships, and will merge with a single global profit pool.
“This is transformational,” said Rebecca Maslen-Stannage, chair and senior partner of HSF. “We have long been committed to expanding our offering in the US and Kramer Levin is the perfect fit. The combination delivers immediate growth for both firms from day one.”
“Joining forces with Herbert Smith Freehills is a one-of-a-kind opportunity that helps us achieve our vision and potential for strategic growth,” said Howard T. Spilko, co-managing partner of Kramer Levin. “The combination provides us with a significant competitive advantage by bolstering our destination practices with a deeper bench, broader geographic reach and sector expertise, while providing the opportunity to collaborate to achieve great outcomes for clients internationally.”
The proposed combination is subject to customary closing conditions, including a vote of the partners at each of the respective firms.
It is the latest tie-up between a UK and US-headquartered law firm, after Allen & Overy merged with Shearman & Sterling to become A&O Shearman in May.
