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Fried, Frank, Harris, Shriver & Jacobson LLP

ONE NEW YORK PLAZA, NEW YORK, NY 10004, USA
Tel:
Work +1 212 859 8000
Fax:
Fax +1 212 859 4000
Email:
Web:
www.friedfrank.com
Frankfurt, London, New York, Washington DC

Stuart Gelfond

Tel:
Work 212-859-8272
Email:
Fried, Frank, Harris, Shriver & Jacobson LLP

Work Department

Corporate Department.

Position

Mr. Gelfond is a partner in the Corporate Department and co-head of the firm’s Capital Markets practice. He concentrates his practice on corporate finance transactions, including representation of issuers and underwriters, domestic and international high-yield, investment-grade and convertible debt offerings, acquisition financings, and IPOs. Has extensive experience serving as counsel to corporations and broker-dealers on securities, corporate governance and other regulatory issues. For over a decade, he has been actively involved in numerous offerings for business development companies and currently acts as issuer’s counsel for Goldman Sachs BDC and underwriters’ counsel for numerous BDCs. He regularly represents clients in private equity and acquisition transactions, and has been actively involved in corporate restructurings, including acting as lead counsel to ACA Capital Holdings and Sonic Automotive in their corporate reorganizations.

Career

Mr. Gelfond has been a guest lecturer at New York University's Stern School of Business, New York Law School and elsewhere on debt covenants, MD&A and accounting, and financial due diligence matters, and speaks regularly on securities law and corporate governance topics for the Practicing Law Institute and the New York City Bar. Mr. Gelfond joined Fried Frank in 1986 and became a partner in 1993.

Member

Mr. Gelfond is a member of the Securities Regulation Committee, Bar Association of the City of New York and the President of the Board of Directors, Berkshire Hills Camp.

Education

JD, New York University School of Law (1986), Order of the Coif, articles editor of Law Review; BS, magna cum laude, Wharton School of the University of Pennsylvania (finance and accounting) (1983).


United States: Finance

Capital markets: debt offerings

Within: Capital markets: debt offerings

Fried, Frank, Harris, Shriver & Jacobson LLP, which has significantly increased its market share of investment grade transactions during recent years, has a robust underwriter-side practice and is also routinely called upon by issuers. Key names Daniel Bursky and Stuart Gelfond, who co-lead the New York-based group, advised the underwriters on five debt offerings by Athene Global Funding totaling $2.7bn. Bursky and Andrew Barkan acted for the underwriters on multiple issuances by Procter & Gamble, including assisting Citigroup Global Markets, Goldman Sachs and JP Morgan Securities with Procter & Gamble’s two-tranche $2bn notes offering. Recent issuer clients include Coach, Humana and Merck.

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Capital markets: equity offerings

Within: Capital markets: equity offerings

Fried, Frank, Harris, Shriver & Jacobson LLP strikes the right note with its ‘extremely responsive service’ and ‘high-quality work product’. The firm continues to win a good balance of issuer and manager-side mandates, with notable strength in advising private equity sponsors. In a recent example, group-co head Daniel Bursky and ‘up-and-coming partnerMark Hayek advised JELD-WEN Holding, an Onex portfolio company, on its $661m IPO and its $495m secondary offering. The same pair also advised the underwriters on Athene Holdings’ $1.2bn IPO and its two secondary follow-on offerings. Team co-head Stuart Gelfond is ‘an excellent and extremely responsive relationship partner’ and assisted Oneok with its $1bn at-the-market offering. The ‘outstanding’ New York-based team also includes younger partner Andrew Barkan, who advised AEA portfolio company Evoqua Water Technologies on its $500m IPO.

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Capital markets: global offerings

Within: Capital markets: global offerings

Among Fried, Frank, Harris, Shriver & Jacobson LLP’s manager-side highlights, group co-head Daniel Bursky advised the underwriters on a string of equity and debt offerings for Athene Holding, including its headline $1.2bn IPO. Issuer mandates included group co-head Stuart Gelfond assisting Merck with its €1bn offering of two series of euro-denominated senior unsecured notes. The shipping sector is also a notable source of work and Joshua Wechsler recently acted as underwriter’s counsel on a debt offering by Scorpio Tankers and equity offerings by Diana Shipping and Star Bulk Carriers. Other key contacts in the New York-based department include Andrew Barkan, Joshua Coleman and ‘very strong’ rising star Mark Hayek.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

Highly responsive and commercialFried, Frank, Harris, Shriver & Jacobson LLP’s ‘excellent team’ is, according to some clients, ‘comprised of subject matter experts’. The New York-based group is sought after by a diverse spread of corporate issuers and private equity sponsors as well as leading investment banks such as Bank of America Merrill Lynch, Morgan Stanley and Deutsche Bank. Stuart Gelfond, who co-heads the practice, acted on a string of high-yield debt deals through 2017, including advising the issuers on Lithia Motors’ $300m private placement of senior notes and Terex Corporation’s $600m private offering. Daniel Bursky co-leads the group and advised the initial purchasers on Warrior Met Coal’s $350m offering of senior secured notes. Joshua Coleman and Andrew Barkan are also recommended.

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