Schulte Roth & Zabel LLP > New York, United States > Firm Profile

Schulte Roth & Zabel LLP > The Legal 500 Rankings

Finance > Financial services regulation

Schulte Roth & Zabel LLP offers a multidisciplinary group focused on emerging trends, covering regulatory issues affecting private funds and broker-dealers in relation to the creation and implementation of compliance programs and investigations carried out by FINRA and the SEC, respectively; the team places a further emphasis on issues surrounding digital wallet issuers, card associations, bill payment companies, currency exchangers and stablecoin issuers. The leadership team, which is based in New York, is comprised of Craig Warkol and Julian Rainero on the broker-dealer regulatory and enforcement front as well as banking regulatory expert Donald Mosher and investment management regulatory specialist Marc Elovitz.

Investment fund formation and management > Alternative/hedge funds Tier 1

Schulte Roth & Zabel LLP  went from strength to strength in the hedge fund space, 2022 seeing several additions to the department, including Leonora Shalet from Morrison Foerster in May; and Peter Greene, Benjamin Kozinn and Eileen Overbaugh from Lowenstein Sandler LLP in March. This latter group has a focus on advising prominent individual investment managers that are striking out on their own. They join a department with an impressive client roster of numerous high-profile hedge funds at an international level, as well as a host of fund managers. Greene has become part of the department’s leadership team, alongside market reference Stephanie Breslow; David Efron; and David Nissenbaum. Jennifer Dunn is another key contact, assisting clients with structuring, formation, operational needs, and regulatory and compliance issues. Diameter Capital Partners and Cerberus Capital Partners are among the standout clients of Jason Kaplan, and Peter Naismith is another name to note from the sizeable practice. All named lawyers are based in New York.

M&A/corporate and commercial > Shareholder activism Tier 1

New York-based Schulte Roth & Zabel LLP‘s client base includes large and high-profile activist investors such as Trian Fund Management, L.P. and Elliott Management, offering a broad practice with experience in advising on areas such as campaign strategies and proxy rules, as well as cross-practice tax, antitrust, investment funds advice. Heading up the department are Eleazer Klein and Marc Weingarten, who are renowned for their expertise in activism, particularly when it comes to regulatory and transactional matters. Adriana Schwartz regularly represents clients in private investments in public and private companies, including private investments in public equity, which is also an area of particular strength for Klein. The group draws on the firm’s litigation practice to form a shareholder activism litigation practice group, of which Michael Swartz , who has a strong reputation for proxy contests for activists such as Engine No. 1 and Trian Fund Management, is co-chair.

Finance > Structured finance: securitization Tier 2

Schulte Roth & Zabel LLP has a ‘responsive, thorough and conscientious’ team that represent investment managers and specialty finance companies on a wide array of securitization issues. Team head Craig Stein regularly leads the firm’s impressive CLO work, and also has considerable experience in prime brokerage and customer trading agreements. The firm also demonstrates expertise in esoteric securitization which involve structured settlements and insurance-linked securities, as well as being a leading name in the rapidly growing litigation finance arena. Fellow team head Boris Ziser competently handles these esoteric asset classes, as well as more traditional asset-backed securitizations. Both Phillip Azzollini and Stephen Schauder focus on CLOs and warehouse financing transactions, while Thomas Weinberger is an expert in life settlements and pension risk transfer, in addition to being a key name for companies looking for advice on structuring finance for the law firms they are partnering with. Andrea Mandell has also been highly active in practice matters, utilizing her tax experience to counsel on a range of structured finance, securitization and fund formation issues as well as handling real estate finance, including structuring REO-to-rental financings and debt repackaging.

M&A/corporate and commercial > M&A: middle-market ($500m-999m) Tier 2

A go-to destination for middle-market private equity funds, activist investors and hedge funds, Schulte Roth & Zabel LLP’s primary focus is private equity-driven M&A. Energy, financial services, healthcare, tech and telecoms are key sectors of focus for the team, which frequently advises investment management clients on complex deals. Its capabilities in the shareholder activism space are also noteworthy; Eleazer Klein is a key contact in New York for this type of work. He co-heads the M&A and securities team with Brian Miner in Washington DC, who is singled out for his private equity credentials. Benjamin Kozinn, who handles a mix of investment management and private equity M&A, joined the New York office from Lowenstein Sandler LLP in March 2022. In the same office, Jeffrey Symons is knowledgeable of domestic and cross-border M&A, joint ventures and corporate restructurings.

Dispute resolution > Corporate investigations and white-collar criminal defense

Schulte Roth & Zabel LLP has a strong reputation in the market for representing alternative investment funds in the white-collar space, counting a number of financial institutions and broker-dealers among its clients. Insider trading, cryptocurrencies, and public company investigations form part of the firm’s advisory portfolio. New York’s Douglas Koff and Craig Warkol lead the practice alongside a Washington DC-based duo consisting of Peter White and Charles Clark. Gary Stein  left the firm in July 2023.

Investment fund formation and management > Private equity funds (including venture capital) Tier 3

Schulte Roth & Zabel LLP‘s New York-based ‘distinguished PE practice‘ is a strong choice for clients at any point in the life-cycle of a private equity fund. It particularly stands out in the growing areas of credit and special opportunity funds, where Joseph Smith has been a key lead partner on recent matters. Stephanie Breslow, who has led key recent deals for GoldenTree Asset Management, Black Diamond Capital Management and Pantera Capital, heads up the firm’s broader investment management group and is a key name for private equity funds work; and Phyllis Schwartz‘s fund formation practice stands out in the real estate sector especially. Heather Wyckoff is an up-and-coming partner to note in fund formation in various spaces.

Dispute resolution > Financial services litigation Tier 4

Drawing expertise from a number of groups, Schulte Roth & Zabel LLP concentrates its efforts towards regulatory investigations and enforcements by government bodies, specifically the SEC. The firm has expanded its crypto funds capacity and recently represented Pantera Capital in a high-stakes dispute with Polychain regarding the application of the corporate opportunity doctrine in the investment fund space. The firm also has a broad focus on investment funds and broker dealer work, including activity such as cryptocurrency investments, insider trading, SPACs and block trading. The team’s cross-practice leadership is comprised of Craig Warkol, co-chair of the securities enforcement and broker dealer regulatory and enforcement groups and Julian Rainero, also co-chair of the latter, in New York, as well as Peter White, co-chair of the litigation and white-collar defense groups and Charles Clark, co-chair of the securities enforcement group, based in Washington DC.

Dispute resolution > M&A litigation: defense Tier 4

The New York office of Schulte Roth & Zabel LLP has a long-standing reputation for securities litigation and, increasingly, deal-related cases. It is particularly active in cases arising from proxy contests and corporate control battles, as well as matters involving investment funds. Michael Swartz and Gayle Klein in New York and Peter White in Washington DC lead the practice, which is a key adviser to many of largest hedge funds in the US. Klein and DC-based Charles Clark are also key advisers on SPAC-related cases.

Dispute resolution > Securities litigation: defense Tier 4

Schulte Roth & Zabel LLP has a long-standing reputation for representing clients in large securities class actions, and related derivative litigations and ERISA actions. The firm advises more than half of the world’s 100 largest hedge funds and thousands of funds globally, giving it a prominent role in investment funds matters. It has also become a key player in ‘short swing’ cases alleging violations of Section 16(b) of the Securities Exchange Act, and in matters involving structured finance and SPAC-related transactions. The practice is led by Michael Swartz and Gayle Klein in New York, along with Peter White in Washington DC. Swartz is acting for two former members of the Board of Directors of a special purpose acquisition company in a putative shareholder class action lawsuit alleging violations of numerous federal securities laws in connection with a merger between the publicly-traded SPAC and Arrival SA, a privately-held manufacturer of commercial electric vehicles. Charles Clark is recommended for SEC investigations and ensuing litigation.

Investment fund formation and management > Mutual/registered/exchange-traded funds Tier 4

Schulte Roth & Zabel LLP advises clients on the establishment and operation of registered closed-end funds, BDCs, mutual funds, and other products regulated under the 1940 Act. The group places emphasis on innovative solutions to business and legal risks, and so have experience in a range of novel fund vehicles, including registered hedge funds, funds of funds, and BDC-sponsored joint venture investment vehicles. The group is led by John Mahon, who is based in Washington DC and has experience in capital markets and securities law matters, and acts for private equity firms and other prominent financial sector participants. Associate Shaina Maldonado, also in DC, is a key name.

Labor and employment > ERISA litigation Tier 4

Representing a wide range of clients, Schulte Roth & Zabel LLP handles both individual and class action ERISA matters with a focus on multi-employer pension plans, particularly in relation to pension provisions of the America Rescue Plan Act. The firm handles matters including fiduciary breaches, withdrawal liability, and challenges to plan provisions and amendments, and represents clients before regulators including the Department of Labor, the IRS and the Pension Guaranty Corporation. The employment and employee benefits group is led by New York-based lawyers, Mark Brossman and Ronald Richman. Richman defends employee benefit plans, fiduciaries and employers in class actions, concentrating on employee benefits and restrictive covenants cases, as well as representing these clients before regulatory bodies.

Real estate > Real estate finance Tier 4

Schulte Roth & Zabel LLP‘s real estate finance department is headed by New York-based Julian Wise and has an equally-weighted lender and borrower practice. Notably active in commercial and mezzanine lending, Wise and Seth Henslovitz , also in New York, continues to advise Mack Real Estate Group in the financings of 700 North Miami, part of the largest private development underway in Miami, Florida. The group also represents New York landlords, office and retail tenants, in sophisticated lease negotiations.

Tax > US taxes: non-contentious Tier 4

Schulte Roth & Zabel LLP‘s strong reputation in private investment fund matters ensures that the firm is frequently engaged by leading hedge funds, private equity firms, and alternative asset managers. M&A, blockchain technology and digital assets, shareholder activism, and real estate are areas of particular expertise for the New York-based team. Practice co-head Alan Waldenberg specializes in investment funds, an area where David Wermuth is also instructed, while fellow co-head Shlomo Twerski handles hedge fund and management company structures. Also recommended are Philippe Benedict, who advises on transactions involving sales or spin-offs, securitizations and funds, and Elie Zolty, whose expertise further spans partnerships and REITs.

Dispute resolution > General commercial disputes Tier 5

Schulte Roth & Zabel LLP is frequently sought after by significant hedge and private equity funds, also representing finance industry clients, and has recently bolstered its activity in blockchain and cryptocurrency disputes. The practice also has a strong record in shareholder activism litigation and is extensively experienced in civil litigation in appellate, federal, and state courts. Co-head Gayle Klein in New York represents clients in breaches of fiduciary duty, business and bankruptcy litigation, theft of trade secrets and violations of non-competition agreements. Fellow New York based co-head Michael Swartz is particularly active in M&A, securities, and shareholder activist litigation, in addition to private investment fund disputes, while Peter White in Washington DC completes the leadership team and is a white-collar lawyer who has represented corporations and executives in False Claims Act and qui tam lawsuits, grandy jury and internal investigations, and shareholder class actions. William Gussman has a wealth of expertise in litigation surrounding Section 546(e) safe harbor in fraudulent transfer actions, while Taleah Jennings has a focus in fiduciary matters. All mentioned individuals are located in New York, unless stated otherwise.

Real estate Tier 5

Julian Wise heads the real estate practice at Schulte Roth & Zabel LLP, which is widely known for its work with major New York landlords, office and retail tenants, on lease negotiations, particularly in the investment management, financial services and law firm areas. Seth Henslovitz is another key lawyer acting for developers, owners and operators of commercial buildings, shopping centers and industrial properties in respect of all real estate transactions. Net lease deals and sale-leasebacks are a key specialty of the firm, as is its work on commercial and mezzanine lending.

Finance > Restructuring (including bankruptcy): municipal

Finance > Restructuring (including bankruptcy): corporate