One is a Houston-based firm with deep connections in the oil patch and a powerhouse in...
Godofredo A. Vásquez, Houston Chronicle / Staff photographerOne is a storied Houston-based firm with deep connections in the oil patch and a powerhouse in law, energy and politics for more than a century. The other was founded in Chicago and came to Texas eight years ago with deep pockets, large profits and an aggressive growth plan.
Lawyers for the two corporate law giants often sit across the table on some of the biggest mergers and acquisitions involving energy companies and private equity firms. Both law firms now have eighth-year associates billing hourly rates of $1,050 and some partner rates exceeding $1,600 an hour. Vinson & Elkins was founded in 1917 by retired Houston judge James Elkins and banking lawyer William Vinson, riding both the booms and busts of the oil industry to become one of the premier firms for the energy sector. Past partners have included the late Texas Gov. John B. Connally Jr., the late U.S. Sen. Howard Baker, former United Airlines CEO Jeff Smisek, and Rep. Lizzie Fletcher, a Houston Democrat.Kirkland & Ellis was founded in Chicago in 1909 and boasts alumni such as U.S.
“It was a great year for the firm in 2021, an amazing year for growth,” said V&E chair Keith Fullenweider. “Our conventional energy practice came roaring back. Private equity folks are very interested in energy transition.”Kirkland grew its lawyer headcount in the state to 371 last year from 290 in 2020 — a 28 percent increase — making it the fourth-largest law firm by attorney count operating in Texas.
V&E generated another $311 million in revenues from its offices in Dubai, London, Los Angeles, New York, Riyadh, San Francisco, Tokyo and Washington, D.C, bringing its total revenues to $912 million.Legal industry analysts describe V&E’s financial year in 2021 as among the best in the country in revenues and profitsBut it is hard to compete on the numbers with Kirkland, which exceeded $6 billion in revenues across its global operations. The firm’s profits per equity partner exceeded $7.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Houston ISD police would ‘not be prepared’ for active shooter, superintendent says“I don’t know that this has garnered community insight but what I do know is that, if there was an active shooter in HISD, our police department is not prepared,” House said during an agenda review meeting.
Read more »
Houston Newsmakers: Political extremes lead to 3rd party effort in Texas, and moreOn HouNewsmakers the BankofAmerica Leader on Loan partnership with PVAMU worth a million dollars and much more in services. See full story Sunday morning at ten.
Read more »
LIST: The best little bookstores in Texas, according to YelpThere are many fine bookshops scattered throughout Texas and several are in the Houston area.
Read more »
UH's live cougar mascot Shasta VI dies at Houston ZooThe cougar was dealing with a progressive spinal disease and declining kidney function.
Read more »
SUV drives into New Mexico parade, injuring multiple peopleABC13 is your source for breaking news from Houston and the surrounding neighborhoods. Watch live streaming video and stay updated on Houston news.
Read more »
Actress Anne Heche critically injured after crashing car into CA home, igniting fireA woman crashed her car into a house in the Mar Vista neighborhood of Los Angeles on Friday, setting both the vehicle, and the house on fire, officials say. A person with knowledge of the matter told CNN the driver was actress Anne Heche.
Read more »