Ed. note: Welcome to our daily feature, Quote of the Day.
It is like having an overdraft line of credit. [Law firms] don’t plan on drawing on it, but knowing it is there in case you go over is comforting. It is looked at as a smart, common tool.
— Jeffrey Lowe, market president of Washington, DC office of legal advisory and recruiting firm CenterPeak, in comments given to the American Lawyer, speaking generally on law firm practices when it comes to lines of credit. Kirkland & Ellis, the No. 1 law firm in the country when it comes to gross revenue, reportedly has a revolving line of credit that’s in excess of $1 billion, which is 10+ times the size of the average Am Law 100 firm’s revolving credit line.
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
The post The Biggest Line Of Credit In Biglaw appeared first on Above the Law.
Ed. note: Welcome to our daily feature, Quote of the Day.
It is like having an overdraft line of credit. [Law firms] don’t plan on drawing on it, but knowing it is there in case you go over is comforting. It is looked at as a smart, common tool.
— Jeffrey Lowe, market president of Washington, DC office of legal advisory and recruiting firm CenterPeak, in comments given to the American Lawyer, speaking generally on law firm practices when it comes to lines of credit. Kirkland & Ellis, the No. 1 law firm in the country when it comes to gross revenue, reportedly has a revolving line of credit that’s in excess of $1 billion, which is 10+ times the size of the average Am Law 100 firm’s revolving credit line.
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
