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Schulte Roth & Zabel LLP

919 THIRD AVENUE, NEW YORK, NY 10022, USA
Tel:
Work +1 212 756 2000
Fax:
Fax +1 212 593 5955
Web:
www.srz.com
London, New York, Washington DC

United States

Real estate
Real estate - ranked: tier 3

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP is doing an increasing amount of debt finance work following the move of its strong investment fund client base into traditional areas of bank lending. Bruce Cybul advised Column Financial on its funding of $370m in mortgage and mezzanine loans with respect to two hotels in Santa Monica owned by the Edward Thomas Companies; Julian Wise, who is ‘incredibly sharp and commercial for loan negotiations’, was also active in the debt space for clients such as Blackstone Real Estate Advisors and Fortress Investment Group. On the equity side, practice head Jeffrey Lenobel represented a joint venture that includes the Georgetown Company and Pershing Square Capital Management in its $255m purchase of a former Ford Motor dealership at 787 11th Avenue in New York. Lenobel also continued to represent Oxford Properties Group in relation to Hudson Yards and most recently advised on the financing of the office tower at 30 Hudson Yards. Other names to note in the group are leasing specialist Robert Nash, and Seth Henslovitz, who was promoted to the partnership in January 2017. All named attorneys are based in New York.

Next generation lawyers

Seth Henslovitz - Schulte Roth & Zabel LLP

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United States: Dispute resolution

Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 5

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP’s ‘excellent’ practice is led by Barry Bohrer in New York and Adam Hoffinger in Washington DC. Bohrer is representing Joseph Percoco, a former senior aide and campaign manager to Governor Andrew Cuomo, in an investigation into lobbying and conflicts of interest. Hoffinger defended the former CEO of Pennsylvania Cyber Charter School against an 11-count federal indictment that alleges mail fraud, tax conspiracy and filing false tax returns, and represented a former divisional president of a global biotech company in an off-label marketing case concerning bone cement. Another Washington DC lawyer, Peter White, represented a former executive of SunTrust Mortgage indicted for wire fraud in the Eastern District of Virginia. The firm handles a large number of SEC investigations and insider trading cases as well as providing advice on FCPA, securities and criminal tax matters. Douglas Koff is based in New York, while Howard Schiffman and the ‘excellentCharles Clark work from Washington DC.

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General commercial disputes
General commercial disputes - ranked: tier 4

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP’s recent cases include complex shareholder, antitrust and bankruptcy-related litigation. Its reputation in the financial services sector ensures a steady flow of mandates from major players in this field and it is a popular choice also for lawyers and law firms. Names to note include Robert Abrahams, Michael Swartz and Alan Glickman; all three are based in New York, from where the team handles litigation in various states.

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Securities litigation: defense
Securities litigation: defense - ranked: tier 4

Schulte Roth & Zabel LLP

Securities litigation is a strong area for Schulte Roth & Zabel LLP, which has an excellent presence among hedge funds and private equity houses. Martin Perschetz and William Gussman advised Merck’s former chief scientist on the Vioxx securities class action, the settlement of which was confirmed last year. Charles Clark is ‘a real star’ in the SEC enforcement space and was involved in significant regulatory investigations in the pharmaceuticals industry. Michael Swartz is ‘at the forefront of his practice area’ in M&A and securities litigation. Gary Stein is also recommended for regulatory matters, as is Washington DC-based Howard Schiffman, who defended a broker-dealer in an SEC investigation into fraud and insider trading. Named attorneys are based in New York except where stated otherwise. Since publication, Eric Bensky has moved to Murphy & McGonigle.

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United States: Finance

Financial services regulation
Financial services regulation - ranked: tier 5

Schulte Roth & Zabel LLP

Now benefiting from considerably enhanced bandwidth following the arrival in March 2016 of broker-dealer regulatory practitioners Julian Rainero and Craig Warkol from Bracewell LLP, Schulte Roth & Zabel LLP’s New York-based team provides ‘accurate and highly practical “real world” perspectives and business-oriented advice’ to a mix of banks, asset managers and broker-dealers. Praised for his ‘excellent industry knowledge’, Rainero is frequently involved in many of the most closely scrutinized trading issues, including those related to high-frequency trading firms and dark pool operators. The ‘very talentedJoseph Vitale provides ‘timely, thorough and effective’ advice on bank regulatory matters and is best known for regulatory advice on matters at the nexus of the funds and banking industries. Praised for his ‘business acumen’, Vitale has been particularly active representing foreign banks as they seek to navigate US regulatory rules, and is advising Credit Suisse on compliance with the Bank Holding Company Act, including the restructuring and reorganizing of its Systematic Market-Making group in order to fit within certain exemptions pursuant to the Volcker Rule’s restrictions on proprietary trading. Vitale continues to represent Cerberus in its investments in regulated financial institutions, including advising it on the acquisition of NRAM plc from UK Asset Resolution. The team also includes Donald Mosher, noted for payments matters, and Betty Santangelo, who excels at AML issues.

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Structured finance
Structured finance - ranked: tier 4

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP has a very active securitization practice, which focuses on ABS and CDO matters, and is also involved in the RMBS and CMBS markets. In an example of the group’s CLO work, Daniel Oshinsky acted for affiliates of Fortress Investment Group in the structuring and negotiation of a $425.4m CLO transaction secured by US syndicated commercial loans. Paul Watterson was manager’s counsel to Steele Creek Investment Management during a $360m CLO, and also advised a private fund established by the manager for the purpose of investing in the subordinated notes issued by the CLO. Craig Stein jointly heads the structured finance and derivatives group and handles transactional and regulatory aspects of swaps and derivative products. The team handled a range of derivative-related regulatory matters for hedge funds and other investment groups in 2016. Clients also include Mitsubishi UFJ Morgan Stanley Securities, Blackstone Real Estate Income Advisors and Barclays Capital.

Leading lawyers

Paul Watterson - Schulte Roth & Zabel LLP

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United States: Investment fund formation and management

Alternative/hedge funds
Alternative/hedge funds - ranked: tier 1

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP is ‘a go-to firm’ that ‘knows clients’ structures well enough to provide continuing advice on the fly’, and handles a range of fund formation matters for a heavyweight roster of asset managers, including Tudor Pickering Holt and Trian Fund Management. Stephanie Breslow heads the ‘very client-focused and responsible’ practice, which includes David Nissenbaum and special counsel Jason Behrens, who have extensive track records handling significant fund launches, and regulatory experts Brian Daly and Paul Roth. In a highlight matter, Jason Kaplan led a team advising Cerberus Capital Management on the formation of several funds investing in distressed assets, including European non-performing loans. In addition to its fund formation workload, the firm has been highly active in M&A and spin-offs for asset managers; Jennifer Dunn led a team advising Marathon Asset Management on its minority sale to Blackstone Strategic Capital Holdings Fund. Other clients include Credit Suisse and Elliot Management Corporation. Daniel Hunter and Marc Elovitz are also recommended. All named lawyers are based in New York. Steven Fredman has retired.

Leading lawyers

Stephanie Breslow - Schulte Roth & Zabel LLP

Next generation lawyers

Jason Behrens - Schulte Roth & Zabel LLP

Jennifer Dunn - Schulte Roth & Zabel LLP

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Private equity funds
Private equity funds - ranked: tier 3

Schulte Roth & Zabel LLP

Alongside its strong hedge fund practice, Schulte Roth & Zabel LLP handles a range of work for private equity managers, with particular strength in real estate funds as demonstrated by Joseph Smith’s advice to the UK arm of The Children’s Investment Fund Management on the creation of several funds investing in real estate debt on both sides of the Atlantic. Other clients include LCN Capital Partners, Mauá Capital and Westport Capital Partners. Also recommended are Stephanie Breslow, who has handled numerous fund launches involving investments into non-traditional asset classes; Phyllis Schwartz and Omoz Osayimwese, who have an extensive track record of large-scale fund launches; and Marc Elovitz, who is a name of note for compliance matters.

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United States: M&A/corporate and commercial

M&A: middle-market ($500m-999m)
M&A: middle-market ($500m-999m) - ranked: tier 2

Schulte Roth & Zabel LLP

With offices in both New York and Washington DC, Schulte Roth & Zabel LLP is well known in the market for advising on private equity and investment manager M&A. The practice also regularly acts for the portfolio companies of its private equity fund clients on their investments and dispositions. It recently hired private equity expert Michael Gilligan in New York from Hogan Lovells US LLP. Recent sell-side deals included advising New York-based broker-dealer Albert Fried & Co on its sale to Canadian financial institution TD Securities US. Acquisition highlights included acting for Cerberus Capital Management in its purchase of auto component supplier ABC Group, and assisting global investment firm Marlin Equity Partners with its $90m acquisition of the Teradata Marketing Applications business. Richard Presutti and Stuart Freedman chair the M&A and securities group. Presutti practices primarily in private equity, M&A, LBOs and alternative asset management transactional matters; Freedman’s practice includes a wide range of global equity investments and cross-border transactions; and Marc Weingarten is also highly rated. Former co-chair of the M&A and securities group John Pollack joined Gibson, Dunn & Crutcher LLP and Robert Goldstein exited for McDermott Will & Emery LLP. Since publication, Claudia Simon has left the firm.

Leading lawyers

Marc Weingarten - Schulte Roth & Zabel LLP

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United States: Tax

US taxes: non-contentious
US taxes: non-contentious - ranked: tier 4

Schulte Roth & Zabel LLP

Jointly led by Alan Waldenberg and Shlomo Twerski, Schulte Roth & Zabel LLP’s tax practice attracts praise for its ‘quick responses to clients’ queries and its deep knowledge of the hedge fund industry’. In a high-profile matter, Waldenberg led the advice to Albertsons and Cerberus Capital Management on the $9.2bn merger of Safeway. Another highlight saw Waldenberg, Twerski and Philippe Benedict lead the team acting for Marathon Asset Management when Blackstone Strategic Capital Holdings acquired a minority interest in Marathon. Since publication, Noah Beck has joined Weil, Gotshal & Manges LLP.

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