HSF Kramer reported revenue of $2.407 billion in its first full fiscal year following the merger of Herbert Smith Freehills and Kramer Levin, marking a strong debut for the newly merged global law firm. The results demonstrate early integration success and reinforce the growing momentum behind transatlantic law firm mergers.
The financial performance also highlights how international law firms continue to invest in larger global platforms to better serve their multinational clients. As demand for cross-border legal services increases, many companies are considering mergers to expand their reach, strengthen their U.S. operations and improve their profitability.
For lawyers, recruiters and law students, HSF Kramer’s first year results provide another indication that scale and international capabilities remain major competitive advantages in today’s legal market.
Key takeaways
- HSF Kramer reported revenue of $2.407 billion in its first year following the merger of Herbert Smith Freehills and Kramer Levin.
- The company generated a profit of approximately $851 million.
- Profit per associate exceeded $2 million.
- HSF Kramer today employs approximately 2,700 lawyers and more than 630 partners worldwide.
- Management said revenue synergies from the merger exceeded initial expectations.
- Strategic growth has come from energy, private equity, restructurings, litigation and class actions.
- The findings reinforce the current trend of transatlantic law firm mergers and consolidation of the global legal industry.
HSF Kramer’s revenue exceeds $2.4 billion
HSF Kramer generated revenue of $2.407 billion for the fiscal year ending April 30, 2026. These figures represent the company’s first annual financial results since Herbert Smith Freehills officially merged with US-based Kramer Levin in June 2025.
Additionally, the company reported a profit of around $851 million, while profit per partner (PEP) exceeded $2 million. These results demonstrate strong profitability as well as healthy revenue growth during the company’s first year of operation as a combined company.
However, company executives stressed that direct year-over-year comparisons remain difficult. The former companies previously operated under different tax schedules and accounting methods before the merger.
Despite this, leaders described the first year as a successful transition that exceeded many internal expectations.
The merger gives first results
Cross-border expansion strengthens business
The merger unified the international platform of Herbert Smith Freehills with the well-established US practice of Kramer Levin. HSF Kramer is now one of the largest international law firms in the world.
Today, the firm has approximately 2,700 attorneys and more than 630 associates serving clients across Europe, Asia Pacific, the Middle East and North America.
Additionally, the expanded platform enables lawyers to advise multinational companies on increasingly complex cross-border transactions, litigation, regulatory matters and investigations.
Company executives also indicated that revenue synergies from the merger exceeded expectations. According to management, these synergies more than doubled the initial goals established before the formal business combination.
Strategic Practices Drive Growth
Several practice groups contributed significantly to the firm’s financial performance over the past year.
Key areas of growth included:
- Energy
- Private capital
- Class Action Defense
- Restructuring
- Cross-border transactions
- International conflicts
At the same time, HSF Kramer continues to expand its presence in the United States while investing in in-demand international firms.
Clients are increasingly looking for law firms that can handle legal matters in multiple jurisdictions. Therefore, companies with broad geographic coverage continue to gain a competitive advantage over smaller regional competitors.
Global mergers are reshaping BigLaw
HSF Kramer’s strong financial results reflect a broader transformation underway in the legal industry.
Large firms increasingly view mergers as an effective way to expand into new markets, strengthen client relationships and compete for top-notch legal work. Thus, several major international groupings have emerged over the last two years.
These mergers allow companies to:
- Develop internationally
- Increase market share
- Recruit top legal talent
- Improve practice skills
- Better serve multinational companies
Rather than building offices from scratch, many companies are now choosing mergers to accelerate their growth in strategic markets.
Industry analysts expect new combinations as companies seek larger global platforms and stronger profitability.
Impact on legal career
Job opportunities could grow
Good financial performance often translates into continued investment in talent.
As HSF Kramer expands its global platform, recruiters expect demand to remain healthy for lawyers with experience in the following areas:
- Mergers and acquisitions
- Private equity
- Corporate law
- International arbitration
- Dispute
- Regulatory Compliance
- Energy law
- Restructuring
Additionally, lawyers with cross-border experience could become increasingly valuable as firms continue to serve multinational clients.
Law students benefit from larger global platforms
Law students will also benefit from continued consolidation.
Larger international companies typically offer broader training programs, international secondments, and access to sophisticated global topics. These opportunities can provide associates with valuable experience early in their careers.
Additionally, large companies often invest heavily in professional development and technology, making them attractive employers for graduates interested in international practice.
Why HSF Kramer’s results are important
The first year following a large law firm merger often determines whether the combination generates the expected value.
In the case of HSF Kramer, initial financial results suggest that the integration efforts are progressing successfully. Revenue topped $2.4 billion, profitability remained strong and executives reported higher-than-expected merger synergies.
These findings could encourage other international firms to pursue similar strategies as competition intensifies in the global legal market.
Customers also benefit when companies combine complementary strengths, providing broader geographic coverage and deeper industry experience within a single organization.
Global Legal Sector Outlook
The legal industry continues to evolve rapidly.
Corporate clients increasingly expect law firms to provide seamless service across multiple jurisdictions. Therefore, companies with extensive international networks remain well-positioned to capture complex global work.
At the same time, further mergers are likely as companies seek to strengthen their U.S. capabilities, expand their international reach and increase operational efficiencies.
HSF Kramer’s successful maiden exercise could become a new benchmark demonstrating how carefully planned law firm consolidations can create long-term value for clients, lawyers and associates.
Frequently Asked Questions
What is HSF Kramer?
HSF Kramer is the international law firm born from the merger in 2025 of Herbert Smith Freehills and Kramer Levin.
What turnover did HSF Kramer declare?
The company reported revenue of $2.407 billion for the fiscal year ended April 30, 2026.
How profitable was HSF Kramer?
HSF Kramer generated a profit of approximately $851 million, while profit per partner exceeded $2 million.
How many lawyers work at HSF Kramer?
The firm employs approximately 2,700 attorneys and more than 630 associates across its global offices.
Why do law firms pursue mergers?
Many companies are partnering to expand internationally, strengthen U.S. capabilities, improve profitability, and better serve multinational clients with cross-border legal needs.
What does this mean for legal careers?
Continued consolidation creates opportunities for lawyers with experience in corporate law, mergers and acquisitions, private equity, restructuring, litigation and international regulatory matters. Leading global companies also continue to invest in associate development and international career opportunities.
Are you looking for opportunities in the best global law firms? Discover the latest attorney jobs, BigLaw openings and legal career resources at LawCrossing and take the next step in your legal career.
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Why law firm mergers are exploding in the legal industry
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