Has Kirkland & Ellis Become Vulnerable (and its model under question)?

Is upstart Kirkland & Ellis showing signs of wear?

Its atypical approach to getting, growing and operating a large law firm has propelled it to the number-one spot globally. Of course, its business model, which includes the NEP tier and chasing volume, has been studied by even the more traditional elite law firms.

But all that could be in play.

Bloomberg Law reports that during the first half of 2025 Latham outdid K&E in the key practice: M&A. Latham came in at $269 billion, K&E at $251 billion. Latham derived the most business in tech, telecommunications and energy. 

The implications are huge. 

Other top competitors in this market can feel emboldened to be more creative and aggressive in taking on K&E on in their categories of strength. Those firms include Wachtell, Rosen & Katz, Davis Polk and Paul Weiss. They could also begin to question the model more closely. 

When I had coached former members of the K&E team they positioned and packaged the firm as "always winning." Although working there was a total grind they were grateful for the experience. 

That perception could change if K&E loses more ground. Also, the NEP tier, which many large firms embraced, could be open to more scrutiny - by associates offered that deal, thought leaders in the legal sector and in lawsuits. 

Once a downward trajectory kicks in, the pace could accelerate.

Did the vulnerability first show when Paul Weiss conducted multiple talent raids on K&E's London office? 

Rattled by the uncertainty? Faith-based Career Coaching. Special expertise with transitions, reskilling and aging. Psychic/tarot readings, upon request. Complimentary consultation with Jane Genova (Text 203-468-8579, janegenova374@gmail.com). Yes, test out the chemistry.