Asset Management

Experience

  • M&A

    • EQT Exeter, a purpose-driven global investment organization, in its acquisition of Redwood Capital Group, an asset manager in the multifamily residential property space.
    • IDB Bank, the largest Israeli bank operating in the U.S., in the creation of IDB Lido Wealth, a new strategic partnership and joint venture with Lido Advisors, a full-service, independent RIA.
    • Aflac in its $2.1 billion strategic partnership with Denham Capital.
    • PGIM in its acquisition of Montana Capital Partners, a European-based private equity secondaries asset manager.
    • American International Group in its strategic partnership with Blackstone Group for its Life & Retirement business.
    • Parnassus, the largest ESG-dedicated fund manager in the U.S., in its sale of a majority equity interest to AMG.
    • Investcorp in its strategic partnership with Centre Lane Partners.
    • Aflac Global Investments, a subsidiary of Aflac, in its $3 billion strategic partnership with Varagon Capital Partners.
    • Mitsui USA in its acquisition of a minority non-controlling interest in Capitala, an asset management firm, and the formation of a strategic partnership between the two firms.
    • Credit Suisse in its investment in, and related economic arrangements with, an Asian alternative credit provider and asset management company.
    • Syncora Holdings in its $429 million sale of Syncora Guarantee, a wholly owned subsidiary, to Star Insurance Holdings, an entity organized by GoldenTree Asset Management LP.
    • AFP Habitat in its acquisition of Colfondos from Scotiabank and Mercantil Colpatria.
    • Principal Financial Group in its $1.2 billion acquisition of Wells Fargo & Company’s Institutional Retirement & Trust business.
    • Citizens Financial in its agreement to purchase certain assets of Bowstring Advisors, an Atlanta-based merger and acquisition advisory firm.
    • Atlas Merchant Capital in its investment in Ascensus, the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States.
    • Canaccord Genuity Group on its acquisition of Petsky Prunier, a preeminent boutique M&A advisory firm.
    • Quarton International, an independent US and European M&A advisory firm, in its sale to Cowen.
    • Citizens Financial in its acquisition of Clarfeld Financial Advisors.
    • Tristan Capital in its sale of a 40% interest in Tristan to Candriam, a New York Life affiliate.
    • EIG in the formation of a joint venture with FS Investments to manage the $4 billion FS Energy and Power Fund.
    • OppenheimerFunds in a joint venture with Carlyle, which will provide global private credit opportunities for the wealth market.
    • Adveq in its sale to Schroders.
    • Evercore, as financial advisor to the Special Committee of Fortress Investment Group, in Fortress Investment’s $3.3 billion acquisition by SoftBank.
    • HarbourVest Partners in its acquisition from Bank of America of the BAML Capital Access Funds group, a private equity fund-of- funds manager focused on opportunities with emerging managers, diverse managers, the lower middle market and other underserved markets.
    • Guardian in its sale of RS Investments to Victory Capital.
    • Eaton Partners in its sale to Stifel Financial.
    • Apollo Global Management in its acquisition of a majority interest in the asset management business of AR Capital (subsequently withdrawn), its acquisition of the wholesale distribution business of RCS Capital and its substantial minority equity investment in RCS Capital. (Terminated)
    • One Equity Partners in its spin-out from J.P. Morgan.
    • The D. E. Shaw Group in its sale to Hillspire of a 20% interest in the management companies of The D. E. Shaw Group previously owned by Lehman Brothers.
    • New York Life Investments in its acquisition of IndexIQ, a leader in the liquid alternative exchange-traded fund industry.
    • Kelso & Company in its acquisition with Estancia Capital Management of American Beacon.
    • MBIA in its sale of Cutwater Asset Management, an investment management company with $23 billion in assets under management, to BNY Mellon.
    • Northwestern Mutual in its $2.7 billion sale of Russell Investments to the London Stock Exchange Group.
    • TIAA-CREF in its $6.25 billion acquisition of Nuveen Investments, a diversified investment management company with $221 billion in assets under management.
    • Rothschild Asset Management, the U.S. asset management business of the Rothschild Group, in the establishment of Rothschild Larch Lane Management Company, a registered fund of hedge funds with Larch Lane Advisors.
    • MainStay Investments, a New York Life Investments company, in its adoption of mutual funds managed by Cushing Asset Management with $1.6 billion in assets under management.
    • New York Life Investments in its €380 million acquisition of Dexia Asset Management.
    • RS Investments, a subsidiary of Guardian Life, in its spinout of SailingStone Capital Partners.
    • The management team of Glendon Capital Management in its spinout from Barclays.
    • TIAA-CREF in its partnership with Henderson Group PLC to create TIAA Henderson Real Estate Limited, a new global real estate investment management company, with total assets under management of over $63 billion.
    • The Principal Financial Group in its acquisition of AFP Cuprum S.A., a pension manager in Chile.
    • Liberty Mutual in the spin-off of its oil and gas asset management group.
    • FLAG Capital Management in its acquisition of Squadron Capital, a Hong Kong-based private equity investment firm.
    • Senior management of The TCW Group, a leading diversified asset management company, in the acquisition of The TCW Group by management and private equity funds sponsored by Carlyle.
    • New York Life Investments in its acquisition of a minority interest in Cornerstone Capital Management, an investment management firm.
    • HarbourVest Partners in its $1.4 billion acquisition of the private equity fund interests and direct co-investments of Conversus Capital.
    • Rochdale Investment Management in its sale to City National Bank.
    • EIG in its sale of a minority interest to China Investment Corporation.
    • Evercore, as financial advisor to BlackRock, in BlackRock's acquisition of Claymore Investments, a Canadian ETF sponsor.
    • HarbourVest Partners in its $806 million acquisition of Absolute Private Equity, a Swiss publicly listed investment fund.
    • New York Life Investments in its acquisition of a majority interest in Private Advisors, a manager of private equity and hedge funds of funds with $3.9 billion in assets under management.
    • Primus Guaranty in its sale of CypressTree Investment Management.
    • G5 Holding in its sale of a 50% interest to Evercore.
    • The Special Committee of Independent Directors of Highbury Financial in Highbury's acquisition of an interest in Aston Asset Management from Aston's management.
    • American International Group in the sale of its investment advisory and asset management business to Pacific Century Group.
    • Stanfield Capital Partners in its agreement with Carlyle to transfer to Carlyle the management of $5.1 billion in CLO and other credit assets.
    • New York Life Investments in its strategic relationship with Epoch Investment Partners, whereby New York Life's MainStay Group of Funds adopted Epoch's family of mutual funds.
    • MacKay Shields, a New York Life Investments subsidiary, in its acquisition of Mariner Municipal Managers.
    • Prudential Financial in its agreement with Grupo Actinver, S.A. de C.V. under which Grupo Actinver will acquire 100% of Prudential's asset management business in Mexico.
    • HarbourVest Partners in its acquisition of the Lehman Brothers Venture Partners business.
    • Unibanco in its formation of a $1.3 billion joint venture with American International Group (AIG) and subsequent purchase of AIG's joint venture interest.
    • Prudential Financial in its strategic partnership with GAP Asset Management of Brazil.
    • Prudential International Investments in the add-on investment in its asset management joint venture with Unione di Banche Italiane S.c.p.A, UBI Pramerica SGR S.p.A., one of the largest asset management companies in Italy.
    • The Special Committee of the Board of Icahn Enterprises in its $810 million acquisition of the Icahn hedge fund business.
    • Principal Financial in its $740 million acquisition from Washington Mutual of WM Advisors, manager of approximately $26 billion in assets, including the WM Group of Funds.
    • Security Benefit Corporation in its acquisition of Rydex Holdings, manager of approximately $16 billion in assets, including the Rydex Group of Funds.
    • Stanfield Capital Partners in the separation of its hedge fund strategies group into an independent firm, Solus Alternative Asset Management.
    • Morgan Stanley Investment Management in its acquisition of Oxhead Capital Management, a hedge fund management company, from its principals.
    • ThinkEquity Partners in its sale to UK broker Panmure Gordon & Co.
    • Bank of New York in its acquisition of Urdang Capital Management, a real estate investment advisor and sponsor of real estate funds, from Urdang’s management and other owners.
    • New York Life Investments in its acquisition of Institutional Capital Corporation, an investment management firm.
    • The management team of MMC Capital in its acquisition of MMC Capital, the private equity subsidiary of Marsh & McLennan Companies, which is now named Stone Point Capital LLC.
    • Bank of New York in its acquisition of an 80% interest in Alcentra Group, a UK-based sub-investment grade debt advisor and sponsor of collateralized debt funds.
    • New York Life Investments in its acquisition of the high-yield asset management business of Pareto Partners.
    • Principal Financial in its acquisition of a 68% interest in MW Post Advisory Group.
    • Russell Investment Group, a subsidiary of Northwestern Mutual, in its acquisition of Pantheon.
    • Prudential Financial in its purchase of a 50% interest in Oppenheim Fonds Trust GmbH and Oppenheim Investment Management International S.A. from Sal. Oppenheim Jr. & Cie. KGaA.
  • Litigation

    • A number of investment management firms on pre-SEC examination and compliance issues.
    • A private equity firm in an SEC investigation relating to “zombie” funds.
    • Several private equity firms in investigations by the New York State Attorney General regarding the tax treatment of the firms’ management fees and management fee offsets.
    • A number of private equity firms in U.S. federal and state investigations concerning the use of placement agents.
    • Notz, Stucki et Cie, its directors and related entities in litigation related to substantial investments with Bernard L. Madoff Investment Securities, in obtaining dismissal of investor class-action litigation purporting to assert claims for fraud and breach of common law duties relating to one of the firm's managed funds, and in adversary proceedings brought by the Trustee of the BLMIS estate in the bankruptcy proceeding.
    • One of the founders of a large hedge fund in a criminal insider trading investigation being conducted by the SEC and the U.S. Attorney’s Office in Manhattan.
    • The Chief Risk Officer of a large hedge fund in a regulatory investigation by the Federal Energy Regulation Commission, as well as in his defense in a securities fraud action brought by a state pension fund investor in the fund, arising from substantial losses by the fund.
    • A private equity firm's portfolio company in an SEC investigation relating to valuation of a CDO by a subsidiary prior to its acquisition.
    • An investment adviser in an SEC investigation arising from an inspection relating to allocation of IPOs and other investment opportunities across managed accounts and funds.
    • A number of private equity firms in analyzing the litigation and FCPA risks associated with potential acquisitions and investments.
    • A private equity firm and a portfolio company in SEC comments concerning auditor independence issues.
    • Regular advice to private equity firms on matters involving the FCPA, including a private equity subsidiary of a leading global financial institution in conducting an internal review of portfolio companies to identify potential anti-corruption compliance issues and to recommend internal compliance changes to enhance prevention detection and remediation of potential issues.
    • A non-U.S. hedge fund in an SEC investigation concerning insider trading.
    • The independent directors of funds advised by two mutual fund advisers in various matters, including advice on issues arising under the Investment Company Act of 1940 and the Investment Advisors Act of 1940, and in civil litigation.
    • A hedge fund advisor and its managing member on potential litigation involving the purchase and sale of an ownership interest in the advisor.
    • Successful defense of a hedge fund managing director in an SEC insider trading investigation involving PIPEs transactions.
    • Successful defense of a managing director of a private equity firm in an SEC insider trading investigation relating to the acquisition of a portfolio company.
    • A hedge fund and its founders in an SEC investigation relating to financing arrangements with small cap companies.
    • A leading hedge fund complex in an action by a former partner seeking to challenge the validity of release and severance arrangements.
    • Regular advice and training to hedge funds and private equity firms concerning the application of the insider trading laws.
    • An investment management firm in an SEC inquiry relating to foreign exchange transactions.
    • "A private equity firm's portfolio company in Section 16 ""short swing"" trading claims by a private plaintiff."
    • A private equity firm and its portfolio company in discussions with the company’s auditors and the SEC concerning a restatement.
    • A private equity firm and its portfolio companies in various matters, including advice regarding credit and asset-backed securitization agreements and litigation regarding the sale of a portfolio company.