Why Did it Happen?
The merger took place primarily because Herbert Smith Freehills wished to have a much stronger position in the United States, while Kramer Levin obtained access to a much wider international platform. Although HSF was already strong in disputes and in global projects, its presence in the United States was relatively limited. Kramer Levin had well-established offices in New York, Washington, DC and in Silicon Valley, particularly in profitable fields such as litigation and private equity. As a result, together they were able to compete more effectively for major cross-border clients. Thus, HSF provided global scale and expertise in disputes, while Kramer Levin offered access to the US market and higher-value work in America.
What Do the Initial Results Indicate?
The first results of HSF Kramer as a merged firm indicate that the merger has got off to a strong start. Revenue amounted to £1.8 billion, profit was £633.9 million, and the profit per equity partner was about £1.5 million. Since the results include a full year of Herbert Smith Freehills’ performance and 11 months of Kramer Levin’s, they cannot be directly compared with earlier figures. The firm has nevertheless stated that integration has turned out better than expected, with merger-related revenue figures more than doubling the original target. Growth has been achieved in all regions, and the firm now intends to carry out further expansion in the areas of energy, private capital, class actions and AI.
Why is Dispute Resolution so Important?
The fact that HSF and Kramer Levin have merged is especially important since disputes are one of the clearest areas in which the two firms' strengths can be combined. While Herbert Smith Freehills had a well-earned worldwide reputation in the area of complex litigation and international arbitration, Kramer Levin provided better access to the US market, particularly in New York and Washington. This is significant since at present a large number of major disputes are cross-border and involve different legal systems, regulators and commercial parties. Because of this wider presence on both sides of the Atlantic, HSF and Kramer Levin are now in a position to handle a client's dispute at every stage of the process - from investigation and strategy right through to litigation or arbitration - and as a result the firm becomes more commercially viable and is more attractive to multinational clients.
Competition and Future Growth
HSF Kramer is operating in a market in which other firms such as Clifford Chance, Linklaters and A&O Shearman are likewise making heavy investments in US growth and in high-value disputes. The firm has already started to strengthen its litigation capabilities in Washington, DC, including through hiring the lawyer Daniel Geyser in 2026, who has previously argued 19 cases before the US Supreme Court. The firm's capabilities in the field of disputes are also evident from recent work: in July 2026, HSF Kramer successfully acted for Roland in resisting a proposed competition class action at the Competition Appeal Tribunal. Together with its expansion in the areas of private capital, energy, and AI, these actions show how the merger is becoming a source of real growth.
To conclude, HSF Kramer's first year indicates that the merger has already gone beyond financial integration; recent litigation victories and its investment in its US practice show it is using its expanded position to boost its standing in complex cross-border disputes. The real long-term test will be whether this momentum can translate into steady US growth and a larger share of high-end international work.