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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’s ‘competent real estate team’ provides ‘an excellent service on all fronts’ and is ‘a go-to practice for complex matters’. Key areas of expertise include acquisitions, joint ventures, lending transactions and restructurings, and the firm also regularly acts for landlords of New York properties along with office and retail tenants, advising on lease negotiations and investment management. Recent work included representing Oxford Property Group in all aspects of its joint venture with The Related Companies to lease and develop Hudson Yards, a matter involving $5bn in financing for a flagship office tower, and advising Mack Real Estate Credit Strategies on a $305m loan to The Lightstone Group for the construction of a luxury condominium in Manhattan. The team also acts for the Museum of Modern Art on an ongoing basis, advising on its expansion of an existing museum facility on the former American Folk Art Museum site. Jeffrey Lenobel heads the New York-based team, which also includes Bruce Cybul, Julian Wise and transactional lawyer Seth Henslovitz.

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: advice to corporates - ranked: tier 5

Schulte Roth & Zabel LLP

Corporate investigations and white-collar criminal defense: advice to individuals - ranked: tier 3

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP is particularly noted for its individual representations, although it also handles high-profile criminal and investigatory matters on the corporate side - primarily in the financial services space. The practice is co-led by Barry Bohrer in New York and Adam Hoffinger in Washington DC. Bohrer is currently representing Joseph Percoco, former senior aid and campaign manager to New York governor Andrew Cuomo, in an investigation by the FBI and Manhattan federal prosecutor into improper lobbying and conflicts of interest. Peter White, who divides his time between Washington DC and New York, is representing a former executive of SunTrust Mortgage, indicted for wire fraud and conspiracy to commit wire fraud in the Eastern District of Virginia. New York’s Seetha Ramachandran, Betty Santangelo and Gary Stein lead on AML matters.

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General commercial disputes
General commercial disputes - ranked: tier 4

Schulte Roth & Zabel LLP

Standout areas at Schulte Roth & Zabel LLP include real estate litigation, investment fund and private equity disputes, shareholder activism and antitrust litigation. Other leading law firms also turn to the team for representation in complex commercial disputes. Robert Abrahams obtained a favorable decision for Springer Science + Business Media in litigation concerning its US headquarters. Elsewhere, Robert Ward has been representing three private equity firms in breach of fiduciary duty claims against another private equity house in the Delaware Bankruptcy Court, District of Delaware, Third Circuit and Delaware Chancery Court. Michael Swartz is another key contact. Named attorneys are based in New York.

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

Schulte Roth & Zabel LLP

Martin Perschetz in New York and Howard Schiffman in Washington DC are the key partners at Schulte Roth & Zabel LLP. They represented the former chief scientist of Merck & Co in a class action arising from the withdrawal of its arthritis drug Vioxx. The firm’s client list encompasses Fortune 500 corporations, underwriters, broker-dealers, prime and clearing brokers, private investment funds, accounting firms and individual defendants. In New York, Charles Clark secured the dismissal of a class action for the former CEO of Hanger Inc, which centered on claims of accounting errors in financial statements over a five-year period. Head of the shareholder activism litigation practice Michael Swartz and regulatory specialist Gary Stein are among the other notable partners.

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United States: Finance

Financial services regulation
Financial services regulation - ranked: tier 6

Schulte Roth & Zabel LLP

Spearheaded on the bank regulatory front by Joseph Vitale, Schulte Roth & Zabel LLP is particularly accomplished at handling regulatory work at the intersection of the funds and banking industries. Noted for his Volcker Rule expertise, Vitale ‘combines an outstanding depth of knowledge with a keen ability to deliver business-ready solutions’, and has provided the regulatory input to private equity sponsor Cerberus on numerous investments it has made into regulated financial institutions, including its recent acquisition of GE Money Bank from General Electric Corp. Vitale also regularly advises international banks on regulatory issues impacting their US activities, as well as on the application of US regulatory law to non-US activities. Julian Rainero has ‘deep expertise at handling detailed trading issues’ and co-heads the firm’s broker-dealer practice alongside Craig Warkol. Donald Mosher is recommended for his payments-related regulatory work, both from a standalone advisory perspective as well as in relation to M&A activity, as demonstrated by his recent advice for Cambridge Mercantile on its $690m acquisition by FleetCor Technologies. Betty Santangelo has a focus on AML-related matters.

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Structured finance: securitization
Structured finance: securitization - ranked: tier 2

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP’s structured finance department is ‘second-to-none in the areas in which it specializes’, and is noted for its ability to balance ‘heavy partner involvement with cost-efficiency’. The team has been involved in a number of unique ABS transactions, and stands out for its formidable CLO practice. Between 2016 and 2017, Paul Watterson and Phillip Azzollini assisted PGIM with over $4.5bn of CLO offerings. Daniel Oshinsky has handled numerous CLO transactions for Cerberus Capital Management and Fortress Investment Group and Craig Stein is another primary contact in the CLO team. In the ABS space, Boris Ziser assisted various issuer clients with some traditional and highly esoteric 144A transactions. The department’s expertise also covers regulatory matters.

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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 handles hedge fund work for established and emerging managers across asset classes, ranging from traditional long-short equity and activist funds through to more exotic assets such as cryptocurrencies. Jason Kaplan advised Cerberus Capital Management on several distressed asset fund launches, while David Efron advised Warlander Asset Management on a $1.3bn credit fund launch. Other key names include Stephanie Breslow, David Nissenbaum, Jennifer Dunn and Daniel Hunter. Marc Elovitz and Brian Daly’s regulatory practice includes handling SEC investigations for leading managers. The firm also acts for start-up managers, as well as more established names such as activists Trian Partners Fund Management and Elliott Management Corporation. The team is based in New York. Steven Fredman has retired.

Leading lawyers

David Efron - Schulte Roth & Zabel LLP

Stephanie Breslow - Schulte Roth & Zabel LLP

Next generation lawyers

Jennifer Dunn - Schulte Roth & Zabel LLP

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Private equity funds (including venture capital)
Private equity funds (including venture capital) - ranked: tier 3

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP has a New York-based private equity practice with strengths in real estate funds and more exotic asset classes. Joseph Smith and special counsel Jason Behrens advised DRA Advisors on forming DRA Growth & Income Fund IX, which raised $1.8bn including co-investments, and TCI Fund Management on forming a $2bn real estate fund. Jason Kaplan advised Cerberus on several real estate fund formations. Away from real estate, David Nissenbaum advised CapitalSpring Investment Partners on forming a $725m restaurant industry-focused fund. Stephanie Breslow, whose practice also includes hedge fund formation, handles more unusual asset classes, and advised Pantera Capital Management on a fund designed to invest in initial coin offerings. Phyllis Schwartz and Omoz Osayimwese are also key contacts, as is Marc Elovitz for regulatory and compliance matters.

Next generation lawyers

Jason Behrens - Schulte Roth & Zabel LLP

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United States: M&A/corporate and commercial

Corporate governance
Corporate governance - ranked: tier 1

Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP handles activist campaigns for a range of leading hedge funds. Marc Weingarten and Aneliya Crawford (a new hire from Olshan Frome Wolosky LLP) advised Trian Fund Management on, among other matters, its proxy fight with Procter & Gamble, securing the appointment of the manager’s co-founder Nelson Peltz to P&G’s board. Weingarten and Eleazer Klein continue to advise Elliott Management on its engagement with the management of Marathon Petroleum. In addition, Klein advised Blue Harbour on its successful campaign at WebMD, securing the company’s sale to KKR. Other clients include JANA Partners (for which the firm secured seats on Bristol-Meyers Squibb’s and Tiffany & Co.’s boards), Cevian Capital and Saba Capital Management.

Leading lawyers

Eleazer Klein - Schulte Roth & Zabel LLP

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

Schulte Roth & Zabel LLP

Acting for many of the world’s largest private equity funds, Schulte Roth & Zabel LLP’s New York and Washington DC offices regularly advise portfolio companies on their investments and dispositions, including private equity M&A and investment manager M&A deals. The ‘lawyers deliver an excellent service and are very knowledgeable, responsive and comprehensive’. Michael Gilligan, who is ‘a simply brilliant attorney’, has extensive experience in proxy and other control contests, as well as spin-off transactions; Gilligan acted for Cerberus Capital Management LP in its affiliate’s acquisition of assets of Club Exploria and Club Exploria Resorts. Other highlights included the ‘impressive’ Richard Presutti, who practices primarily in the areas of private equity, M&A, LBOs and alternative asset management transactions, advising global investment firm Marlin Equity Partners on its $201m sale of OnX Enterprise Solutions; and Stuart Freedman, whose practice includes a range of global equity investments and significant experience in cross-border transactions, assisting Keane Group with its acquisition of RockPile Energy Services. Freedman is ‘an excellent all-round corporate lawyer who always keeps the client’s best interests in mind’. Marc Weingarten, who focuses on M&A deals, LBOs, shareholder activism, corporate governance and investment partnerships is also a key adviser, as are Robert Loper and Peter Jonathan Halasz. All the attorneys listed above are in New York.

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

The investment fund space is a core area for the New York-based team at Schulte Roth & Zabel LLP, which is hailed as ‘a top-notch firm for tax advice to US hedge funds’. M&A transactions, reorganizations and real estate matters are other areas of focus. Recommended tax co-chair Alan Waldenberg assisted Cerberus Capital Management with the formation of several flagship funds worth more than $7bn which invest in distressed assets. He also advised YP Holdings on its acquisition by Dex Media. Kurt Rosell represented Keane Group in its $508m IPO and later in its acquisition of RockPile Energy Services for $284m. Shlomo Twerski acted for Great Elm Capital concerning its $17bn merger with Full Circle Capital, while Philippe Benedict advised Oxford Properties on its joint venture with The Related Companies for the lease and development of $15bn real estate project Hudson Yards. All named attorneys are based in New York.

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