Herbert Smith Freehills

What Herbert Smith Freehills does

Herbert Smith Freehills Kramer (HSF Kramer) is a privately held limited liability partnership co-headquartered in London and Sydney, formed in 2012 through the merger of Herbert Smith (UK) and Freehills (Australia) and materially expanded in 2024 by the merger with US firm Kramer Levin Naftalis & Frankel. The firm operates as a full-service international law practice with 2,700+ lawyers across 20+ offices covering Europe, Asia Pacific, the Middle East, Africa, and the Americas, serving enterprise clients on cross-border M&A, capital markets, project and leveraged finance, energy and infrastructure, disputes and international arbitration, employment, and regulation. It generates roughly $2 billion in revenue under a partner-led engagement model with bespoke engagement-based pricing, including hourly and transaction/matter-based fees, and has no publicly listed equity or external institutional ownership.

The firm's service catalogue is organized across 15 practice areas and 11 sectors, with documented flagship activity in energy transition (Edify AUD3B solar-battery financing; OX2 Finland wind farms), capital markets and IPOs (Bank Mandiri global bond; PT Super Bank Indonesia IPO), pharma and healthcare (GSK US$10.6B financing for Nuvalent), automotive and EV (Voyah HKEX introduction listing; Dongfeng privatization), and nuclear infrastructure (UK Hinkley Point C and Sizewell C). Its offering is differentiated by global distribution, institutional relationships with regulators and state-backed counterparties, and senior legal talent supported by an established thought-leadership platform (Global M&A Outlook, Japan-Australia Investment Report co-produced with ANU, AI Tracker, HSF Kramer Notes) and partnership-driven branding.

Operationally, the firm is investing in AI and legal technology through a newly created Global Chief AI Officer function, an AI and emerging technologies practice, and generative AI tools for research and drafting — moves that have begun to influence workforce composition, including a publicly noted reduction in graduate cohort hiring. There are no separately distributed software products; client-facing technology is embedded within service delivery. The firm is governed as a partnership with Global CEO Justin D'Agostino, operates without venture capital or private equity ownership, and pursues growth through mergers, lateral hiring, and capability buildout in AI, technology, and energy transition.

Name

Herbert Smith Freehills

Legal name

Herbert Smith Freehills Kramer LLP

Website

https://herbertsmithfreehills.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Herbert Smith Freehills Kramer is a privately held international law firm, co-headquartered in London and Sydney, with 2,700+ lawyers across 20+ offices serving multinational corporates, financial institutions, PE firms, and governments on cross-border M&A, capital markets, project finance, energy, and disputes.

Ownership category

akta.pro rank

Product category

Legal Services

NAICS

Offices of Lawyers (54111), Legal Services (5411)

SIC

Services-Legal Services (8111)

akta.pro primary industry

Corporate & Commercial Law (BPAHAAAA)

akta.pro secondary industry

Litigation Support & Expert Witness Services (BPAHALAG)

Keywords

• International legal services
• Mergers and acquisitions advisory
• Capital markets law
• Project finance legal
• Dispute resolution arbitration

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices22 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Legal advisory services: Traditional hourly billing for legal services across multiple practice areas including M&A, capital markets, project finance, litigation, arbitration, employment, and regulatory matters. Transaction-based fees for completed deals, IPOs, and financing transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Herbert Smith Freehills Kramer is a global full-service law firm providing legal advisory across 15 service areas and 11 sectors, including mergers and acquisitions, capital markets, project finance, energy, dispute resolution, international arbitration, real estate, employment, intellectual property, and emerging technology law. The firm serves multinational corporations, financial institutions, energy companies, private equity firms, and government clients on complex cross-border transactions and regulatory matters through its global network of offices.

Product overview

Herbert Smith Freehills Kramer operates as a single, integrated global law firm providing comprehensive legal services. The firm organizes its offerings across 11 sectors (including Energy, Financial Services, Infrastructure, Private Capital, Real Estate, Technology, and Pharmaceuticals & Healthcare) and 15 service areas (including Mergers and Acquisitions, Capital Markets, Finance, Dispute Resolution, International Arbitration, Projects, and Employment). The firm does not offer separate software products or technology platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Global Legal Services Comprehensive full-service legal advisory covering corporate law, M&A, capital markets, finance, dispute resolution, international arbitration, projects and infrastructure, real estate, employment, intellectual property, and regulatory matters across multiple jurisdictions globally.
• Mergers and Acquisitions Legal advisory on M&A transactions including cross-border deals, takeovers, privatizations, delistings, and strategic investments for corporate and financial sponsor clients.
• Capital Markets Legal advisory on debt and equity capital markets transactions including global bond offerings, IPOs, and other securities issuances for corporate and financial institution clients.
• Projects and Infrastructure Finance Legal advisory on project finance, infrastructure development, energy transition projects, and renewable energy financings across global markets.
• Dispute Resolution Legal advisory and representation in commercial litigation, class actions, and other contentious matters across multiple jurisdictions for enterprise clients.
• International Arbitration Legal representation in international arbitrations including commercial and investor-state arbitration across multiple forums and jurisdictions.
• Finance Legal advisory on leveraged finance, acquisition financing, syndicated lending, and other cross-border financing transactions for sponsors, lenders, and borrowers.
• Employment, Pensions and Incentives Legal advisory on employment law, pensions, employee incentives, and workforce-related aspects of cross-border transactions across multiple jurisdictions.
• Emerging Technology Law Legal advisory on AI regulation, emerging technology legal issues, technology-related M&A transactions, and disputes in the technology sector.
• Competition, Antitrust and Regulatory Legal advisory on competition law, antitrust clearances, regulatory approvals, and international trade matters for cross-border transactions and operations.

Quantifiable outcome

• Led AUD3 billion solar and battery hybrid financing for Edify Energy projects
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core, flagship and minor.

• Lambda LegalcoreStrategic or Co-development Partner · 10 June 2026Herbert Smith Freehills Kramer (US) LLP filed a lawsuit alongside Lambda Legal on behalf of national HIV medical associations challenging federal funding guidelines that restrict Ryan White HIV/AIDS Program funds for gender-affirming care for low-income transgender patients living with HIV.
• American Academy of HIV MedicinecoreStrategic or Co-development PartnerPlaintiff in lawsuit challenging HHS restrictions on Ryan White HIV/AIDS Program funding for transgender patients living with HIV.
• HIV Medicine AssociationcoreStrategic or Co-development PartnerPlaintiff in lawsuit challenging HHS restrictions on Ryan White HIV/AIDS Program funding for transgender patients living with HIV.
• International Association of Providers of AIDS CarecoreStrategic or Co-development PartnerPlaintiff in lawsuit challenging HHS restrictions on Ryan White HIV/AIDS Program funding for transgender patients living with HIV.
• The Australian National University (ANU)flagshipStrategic or Co-development PartnerJoint production of annual Japan-Australia Investment Report documenting bilateral investment trends, M&A transactions, and partnerships. Ninth edition released in 2025 documenting record investment activity.
• AllenscoreStrategic or Co-development PartnerCo-advisor with Herbert Smith Freehills on AUD3 billion Edify Energy solar project financing. Allens represented the syndicate of 16 domestic and international lenders while HSF Kramer advised the borrower.
• Hiswara Bunjamin & TandjungcoreStrategic or Co-development PartnerIndonesian law firm co-counsel with HSF Kramer advising on USD750 million Bank Mandiri global bond offering under English and Indonesian law.
• Ginting & ReksodiputrocoreStrategic or Co-development PartnerIndonesian law firm co-counsel with A&O Shearman on USD750 million Bank Mandiri global bond offering.
• National Portrait Gallery, LondonminorStrategic or Co-development PartnerPartnerships in Portraiture program connecting art, identity and access through partnership with the National Portrait Gallery, London.
• Art Gallery of New South WalesminorStrategic or Co-development PartnerPartnerships in Portraiture program connecting art, identity and access through partnership with the Art Gallery of New South Wales.
• Uber for BusinessminorStrategic or Co-development PartnerSustainability partnership where Herbert Smith Freehills partnered with Uber for Business to reduce ground travel emissions as part of ESG initiatives.
• OX2coreStrategic or Co-development PartnerAdvisory on investment in three onshore wind farms in Finland (Kannisto, Korkeamaa, Salo-Ylikoski) with combined capacity of 277 MW, advising on wind farm acquisitions and project financing.
• Bloomberg Open InterestminorStrategic or Co-development PartnerPartner Richard Farley appeared on Bloomberg Open Interest to discuss the private credit market, positioning the firm as a thought leader.
• UK Nuclear Projects (Hinkley Point C and Sizewell C)coreStrategic or Co-development PartnerCounsel on UK nuclear financing frameworks (RAB model, Government Support Package, Contract for Difference arrangements) providing models for India's nuclear investment strategy.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Clifford Chance: Magic Circle international law firm headquartered in London with comparable full-service cross-border practice in M&A, capital markets, finance, and dispute resolution, directly competing for the same multinational, banking, and energy clients.
• Linklaters: Magic Circle international law firm with overlapping global platform and strong credentials in M&A, capital markets, banking, and energy/projects; competes head-to-head with HSF Kramer on premium cross-border mandates.
• Allen & Overy Shearman: Magic Circle firm that merged with Shearman & Sterling to create a comparable global full-service platform with similar scale, US presence, and focus on banking, finance, and energy transition mandates.
• Norton Rose Fulbright: Global law firm with significant energy, infrastructure, and financial services practices and a comparable international footprint, explicitly named alongside HSF as reducing graduate cohorts in response to AI.
• Freshfields Bruckhaus Deringer: Magic Circle firm with comparable global M&A, antitrust, and disputes platform and similar enterprise client base among multinationals and financial institutions.

Broad incumbents

• Latham & Watkins: US-headquartered elite law firm and leading M&A, capital markets, and project finance practice; a dominant competitor for transatlantic and energy transition mandates where HSF Kramer is scaling post-Kramer Levin merger.
• White & Case: Global elite law firm with strong energy, infrastructure, and project finance practices and overlapping M&A and arbitration capabilities serving multinational and financial institution clients.
• Hogan Lovells: Global law firm with comparable sector depth in energy, infrastructure, life sciences, and financial services, often competing with HSF Kramer on cross-border transactions and disputes.
• King & Spalding: Global law firm with strong energy, infrastructure, and international arbitration practices, competing with HSF Kramer on project finance, disputes, and emerging markets mandates.

Regional players

• Allens: Leading Australian law firm co-advisor with HSF Kramer on AUD3B Edify Energy financing; primary regional competitor in Australia for M&A, energy, and infrastructure mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/hsflegal
• Facebookfacebook.com/herbertsmithfreehillsalumni

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Herbert Smith Freehills