Cadwalader Revenue Jumps 15% as Banks, Private Credit Align

Cadwalader, Wickersham & Taft collected a record $638 million in revenue last year, a 15% increase, as the law firm known for its deep relationships with Wall Street banks benefited from the growth of private credit markets.

The 233-year-old law firm has been thrust into an evolving market as traditional banks increasingly compete with private capital to provide corporate financing. The law firm’s 80 equity partners last year earned $3.7 million on average—up by a third from the prior year.

Cadwalader’s strategy is to stick close with its traditional banking clients while expanding its advice to private capital providers, and ...