Latham & Watkins: 5 Shocking New Milestones That Cement Their Global Legal Dominance In 2025
Latham & Watkins (L&W) has unequivocally redefined the benchmark for elite global law firms in 2025. The firm’s recent performance, deals, and strategic talent acquisitions confirm its position at the apex of the legal industry, moving beyond traditional Big Law metrics to set new standards for innovation and financial success. The sheer scale of their operations, from record-breaking revenue to securing key victories in high-stakes litigation, has made L&W the undisputed firm to watch as of December 2025.
This deep dive into the latest updates reveals how Latham & Watkins continues to outpace its competitors, not just in the volume of work but in the complexity and strategic importance of its mandates. From advising on the largest initial public offerings of the year to leading the conversation on mandatory ESG reporting, L&W is shaping the future of global commerce and regulation.
The 5 Pillars of Latham & Watkins’ Unprecedented 2025 Dominance
Latham & Watkins’ strategy for global leadership is built on a foundation of aggressive growth, strategic hiring, and unparalleled expertise across the most lucrative and complex practice areas. The following milestones highlight the firm’s recent, most significant achievements.
1. Record-Shattering $7 Billion Revenue and PEP Surge
The financial results for Latham & Watkins in 2024 (as reported in 2025) were nothing short of historic, cementing its place in the ultra-elite $7 billion revenue club alongside only one other global law firm. The firm saw its global revenue surge by a massive 23% to a record high of $7 billion.
This explosive growth in fee income directly translated into a soaring Profit Per Equity Partner (PEP), which saw a bullish 29% rise. This financial performance not only demonstrates the firm’s resilience but also its strategic dominance across high-value practice areas, including private equity, capital markets, and complex M&A. The firm’s ability to generate such significant top-line growth signals robust demand for its high-end legal services worldwide, particularly in a year marked by cautious optimism in the deal market.
2. Advising on the Largest IPO of 2025 and Capital Markets Mastery
Latham & Watkins demonstrated its command over the global financial markets by advising on the largest US and global IPO of 2025 year-to-date: the landmark, upsized Medline offering. This record-breaking transaction was not only the largest IPO since 2021 but also the largest-ever sponsor-backed IPO, underscoring L&W's unparalleled expertise in navigating complex capital markets transactions.
The firm’s dealmaking prowess extends far beyond IPOs. They advised TPG and an initial group on the acquisition of Silver Tribe Media in December 2025, a significant private equity transaction in the media space. Furthermore, L&W advised on Immunome’s substantial US$400 Million Public Offering, showcasing their consistent activity in the biotech and life sciences sectors. In late 2024, L&W advised on more deals valued at over US$1 billion than any other law firm, a trend that continued into 2025. This track record solidifies Latham & Watkins as the go-to firm for the world’s largest and most complex corporate finance mandates.
3. Named 'Most Innovative Law Firm' and Litigation Victories
In a major testament to its forward-thinking approach, Latham & Watkins was named the Most Innovative Law Firm in North America in December 2025. This recognition highlights the firm’s commitment to leveraging technology, developing new service models, and pioneering solutions for clients facing novel legal challenges. The firm also received the award for Innovation in Pro Bono, linking its business success with its commitment to community service.
On the litigation front, L&W secured an important victory in the New York Appellate Division, First Department in December 2025. This latest win underscores the strength of its global litigation department, which handles the most challenging disputes for corporate clients. Additionally, the firm was honored with four transactions named 2024 Deals of the Year by Project Finance International (PFI), and topped the Houston Impact and Houston Private Equity Deal of the Year categories by the Association for Corporate Growth (ACG) Houston, demonstrating excellence across a diverse range of practice areas.
4. Strategic Talent Acquisition and Lateral Partner Surge
Latham & Watkins has been aggressively active in the lateral hiring market throughout 2025, a strategic move aimed at reinforcing its key growth areas. The firm is actively recruiting top-tier talent, focusing heavily on the integration of these new partners to maintain its cohesive culture.
A notable example is the October 2025 addition of three highly regarded Restructuring & Special Situations Partners in New York and Chicago. This move is a clear signal that L&W is bolstering its capabilities in counter-cyclical practices, preparing for any future market shifts and ensuring it remains the top choice for clients facing financial distress or complex corporate reorganizations. The firm's focus on attracting talent like the 12 partners named 2025 MVPs (including those advising clients like Brookfield in its US$5 billion AI transactions) ensures its expertise remains unmatched.
5. Leading the Global ESG and Sustainability Agenda in 2025
Latham & Watkins has positioned itself as a thought leader and key legal advisor in the rapidly evolving landscape of Environmental, Social, and Governance (ESG) compliance. The publication of their 2025 Environmental Sustainability Report showcases their internal commitment, which includes initiatives like offering composting in 17 offices.
Crucially, the firm is at the forefront of advising clients on the transition to mandatory ESG reporting, particularly under the European Union’s Corporate Sustainability Reporting Directive (CSRD), which represents a major milestone in global regulation. L&W partners, including Paul Davies and Betty Huber, are consistently publishing insights on the top 10 ESG topics for 2025, focusing on key issues like litigation risks surrounding greenwashing and Diversity, Equity, and Inclusion (DEI) initiatives. Their commitment is further evidenced by the 32,000+ hours of free legal services donated to sustainability-focused clients, demonstrating that pro bono work is deeply ingrained in the firm's culture.
Latham & Watkins: A Blueprint for the Future of Big Law
The recent performance of Latham & Watkins is more than just a success story; it is a blueprint for what a modern, globally dominant law firm looks like. Their ability to simultaneously achieve record financial results, lead the world's largest deals, and pioneer legal innovation is a rare feat.
By aggressively pursuing top talent through lateral hires and investing deeply in critical areas like Restructuring & Special Situations and ESG, L&W is future-proofing its business model. The firm’s commitment to inclusion and community, as recognized by the Pro Bono Partner of the Year award from Volunteer Legal Advocates, rounds out a profile of a firm that is not only financially powerful but also culturally influential. As the legal industry continues to consolidate, Latham & Watkins’ global footprint, strategic focus on high-growth areas, and commitment to excellence ensure its continued reign at the pinnacle of Big Law for the foreseeable future.
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