Kirkland & Ellis has dethroned Latham & Watkins as the world’s largest law firm by gross revenue after growing its top line by 19% to $3.165bn in 2017, according to preliminary data and analysis by ALM.

Latham boosted gross revenue by 8.5% in 2017 to $3.064bn, about $100m shy of Kirkland’s new record. The two firms are the first in history to cross the $3bn threshold.