Akin Achieves Record Financial Results in 2024

The American Lawyer has reported on Akin’s second consecutive year of record financial results in 2024, with revenue increasing by 8.8% and profits per equity partner increasing by 23.5%. With back-to-back years of record growth, the firm’s revenue has increased 21%, net income has increased 40% and profits per equity partner have risen 51% since 2022. 

Commenting on the results, Akin co-chair elect Abid Qureshi said, “We had a record-breaking year that really showcases strength-on-strength,” adding “we are in a very good spot and very optimistic about the future.” 

Demand was strong across all practice areas with increased activity in financial restructuring, special situations, tax and private capital. In the post-election environment, Qureshi said the firm has seen increased demand in trade and regulatory work along with increased activity in the lobbying & public policy practice. The firm added 25 lateral partners in 2024 in New York, Los Angeles, London, Houston, Boston, Irvine, California and Washington, D.C. 

The American Lawyer noted Akin’s innovation in launching a global capital solutions team to serve private capital investors across the capital structure in all market cycles as well as the firm’s Trump Executive Order Tracker, a searchable database of executive orders that has garnered nearly 500,000 website views. 

The article additionally highlighted a series of significant transactions and litigation wins from 2024, including: 

• Representation of Millrose Properties Inc. on a first-of-its-kind transaction creating a new $5.8 billion public company while accelerating Lennar’s strategy of becoming a pure-play, asset-light, new home manufacturing company.
• Representation of Intrum AB in its agreement to sell a portion of its investment portfolio to affiliates of Cerberus Capital Management LP for more than €1 billion.
• Securing a victory for the U.S. Chamber of Commerce and a coalition of business groups that had challenged a National Labor Relations Board rule that threatened to expand “joint employer” liability under the National Labor Relations Act.
• Working on complex chapter 11 cases including Steward Health Care, the reorganization of Diamond Sports Group and restructurings of Adler Group, SVB and Thames Water.

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