Hogan Lovells and Cadwalader Announce Intent to Combine, Creating a Firm with Unprecedented Strength in Key G20 Markets

Together, Hogan Lovells Cadwalader will have the uniqueness of operating through five primary hubs – Washington, D.C., New York, London, Germany, and the region comprising France, Italy, and Spain – serving clients in complex matters across a balanced global platform. It will also have a particular strength in the London–New York–Charlotte financial corridor.

In New York, the combined firm will rank among the top 25 law firms, with more than 370 lawyers. Cadwalader, founded in 1792 and Wall Street’s oldest law firm, played a defining role in the evolution of structured finance and securitization, fund finance, real estate finance, derivatives, and other sophisticated structured products. The firm has also built leading practices in bank lending, corporate/M&A, litigation, restructuring, and private wealth.

Hogan Lovells has expanded rapidly in New York, adding strength in M&A, real estate, sports transactions, and commercial litigation, among other areas. Cadwalader’s premier real estate finance practice will significantly complement Hogan Lovells’ investment two years ago in the acquisition of the highly respected U.S. real estate practice from legacy New York firm Stroock & Stroock & Lavan.

In London, the combined firm will be among the top 10, with nearly 600 lawyers, offering unique scale and depth to serve clients across the New York–London transactional corridor. Hogan Lovells was formed from one of London’s oldest law firms, founded 125 years ago, and long known for its premier finance and litigation practices. Cadwalader’s market-leading fund finance, structured finance, and leveraged finance and private credit platforms strengthen the transatlantic link to New York, creating a preeminent capability in complex finance and transactions.

In Washington, D.C., Hogan Lovells Cadwalader will be one of the city’s largest firms, with more than 500 lawyers, cementing the firm’s position as the premier platform for high-stakes matters at the intersection of business and government. Hogan Lovells, one of the oldest and largest law firms in Washington, D.C., founded over 120 years ago, is widely recognized as a regulatory leader in international trade, antitrust, and key sectors including life sciences and health care, technology, and energy, coupled with leading corporate and litigation practices.

Cadwalader brings nationally recognized strengths in compliance, investigations and enforcement, financial restructuring, fund finance, structured finance, and derivatives and financial services regulation. Among the synergies in Washington, D.C., the combined firm will also create a market leader focused on resolving disputes with state attorneys general offices.

In Charlotte, N.C. – the second-largest U.S. banking center – Cadwalader’s over 100 lawyers include highly specialized and market-leading teams in fund finance, bank lending, securitization and structured finance, real estate finance, and CMBS. This financial services focus provides synergies with the combined firm’s finance practices in London and New York, as well as financial services regulation in Washington, D.C.

In Germany, Hogan Lovells’ leading IP, litigation, finance and corporate platform will unite with Cadwalader’s world-class finance capabilities – creating a full-service offering for clients and opening new markets for the combined firm. With more than 450 lawyers across Berlin, Düsseldorf, Frankfurt, Hamburg, and Munich, Hogan Lovells has one of Germany’s most established and prestigious platforms, rooted in over 135 years of market presence.

In France, Italy, and Spain, the combination pairs Cadwalader’s premier finance capabilities with Hogan Lovells’ established platform in this fast-growing market – providing clients with significant support in Europe's expanding private capital markets. With over 400 lawyers, Hogan Lovells’ platform in this region is one of the strongest in Continental Europe, backed by 22 Chambers-ranked practices, including leading structured finance, real estate finance, securitization, derivatives, and capital markets practices.

In APAC, Cadwalader’s prestigious finance capabilities enhance Hogan Lovells’ established and targeted local presence, sharpening the combined firm's ability to deliver seamless, premium, and cross-border support to clients doing business across the region. With more than 140 lawyers across Beijing, Hong Kong, Shanghai, Singapore, Tokyo, Vietnam, and Jakarta, the combined firm will continue a 50-year legacy in APAC and market-leading practices in corporate, finance, compliance and investigations, TMT, IP, life sciences, data protection, and international trade.

The strengths of Hogan Lovells Cadwalader are well matched to the forces shaping the global economy.

The rise of the private capital sector has helped fuel significant growth across the global economy. A critical component of this industry is fund finance and related highly specialized financial products. Since 2018, Cadwalader has advised lenders on more than $1.4 trillion in fund finance commitments across subscription, NAV, hybrid, GP, management fee, hedge fund and venture capital facilities, as well as preferred share issuances. The combined firm will be the global leader in this space, and will help drive the continued development of transformative industries going forward.

Structured finance and structured products – including securitization and derivatives – have become critical tools for capital-intensive, high-growth, and transformative industries, including energy, technology, and infrastructure, all of which require innovative financing structures to scale. Cadwalader’s platform has long helped design and execute the financial structures that power these industries, pioneering many of the tools now used for renewable energy assets, digital infrastructure, data centers, technology rollouts, private equity solutions, complex supply chains, and life sciences portfolios.

As a result, Cadwalader has become a global leader in capital relief trades and other regulatory optimization practices. Paired with Hogan Lovell’s strength in highly regulated cross-border work, the firm will offer a singular platform built to advise, structure, and finance the next generation of deals across sectors and geographies.

The combination will also accelerate Hogan Lovells Cadwalader’s leadership in innovation and AI-enabled legal services. Hogan Lovells has made significant investments to become a fully technology-enabled firm, embedding advanced AI capabilities across client work and internal operations as a core strategic priority. Cadwalader will likewise benefit from Hogan Lovells’ joint venture, ELTEMATE, and its proprietary chatbot, CRAIG, which already supports more than 4,400 users and provides the combined firm with a unique level of independence from external technology providers.

By integrating proprietary AI tools seamlessly with its global legal teams, Hogan Lovells Cadwalader will deliver enhanced efficiency, deeper insights, and higher-value outcomes for clients navigating their most complex cross-border mandates. Few law firms globally can match this depth of in-house AI capability, positioning the combined firm at the forefront of technology-driven service delivery.

Additional information on the combination and both firms can be found at www.oursharedambition.com.

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