CORPORATE PRACTICE
SADIS & GOLDBERG LLP
Our Team
Sadis&Goldberg’steamisexceptionally experiencedinfundformation,fundregulation andinvestmenttransactions.Ourfirm's partnershavedecadesofexperience,both at Sadis&Goldberg,aswellasatlarger internationallawfirmsandtheU.S.Securities& ExchangeCommission.
OUR TEAM
Paul Marino PARTNER
212.573.8158
pmarino@sadis.com
PaulMarinoistheheadoftheCorporateandMergers& Acquisitionsgroup,andco-chairoftheFinancialServices group.Paulfocuseshispracticeinmattersconcerning financialservices,corporatelawandcorporatefinance. Paul providescounselintheareasofprivateequityfundsand mergersandacquisitionsforprivateequityfirmsandpublic andprivatecompaniesandhedgefundformation.
PaulworksonavarietyofM&Atransactions,including leveragedacquisitions,divestituresofbusinessdivisions, going-privatetransactions,andotherstrategicacquisitions anddispositions,inthefollowingindustries:manufacturing, telecommunications,consumerproducts,hospitality, healthcare,andtechnology,amongothers.Hispractice alsoincludesjointventuresandgeneralcompany representationmatters.
Paulhasrepresentednationalandmultinational corporations,rangingfromtelecomstotechcompanies,as wellasrealestatesyndicationandfinancialinvestors and investmentadvisors.Hehasalsonegotiatedandstructured anumberofU.S.domesticandcross-bordermergersand acquisitionsandjointventures.
Paul provides counsel in the areas of private equity funds and mergers and acquisitions for private equity firms and public and private companies and private equity fund and hedge fund formation.
OUR TEAM
Jonathan
Bernstein
PARTNER
212.573.8030
jbernstein@sadis.com
JonathanBernsteinisapartnerintheFinancialServicesand Corporategroups. Jonathanfocuseshispracticeinmatters concerningmergers&acquisitions,corporatelawand generalcorporatecounseling. Jonathanservesasatrusted advisortoprivateequitysponsors,familyofficesandmiddlemarketandfamily-ownedbusinessesacrossindustries.
Jonathanhasexperiencerepresentingclientsacross thefashion,apparel,distribution,consumerproducts, media,manufacturing,healthcare,technologyand hospitalityindustries,amongothers. Heassistsourclients inconnectionwithacquisitions,divestitures,salesand financing. OurclientsbenefitfromJonathan’sknowledge oftheirbusinessestoexecutetransactions,alongwithhis extensiveexperienceexecutingcomplextransactions. As anoutgrowthofthecloserelationshipshedevelopswith ourclients,Jonathanroutinelyworkswithourclientstocraft businessstrategieswhichmeettheirbusinessprioritieswhile managingrisk. Healsoservesasanoutsidegeneralcounsel, advisingonthefullgamutofday-to-daylegalissues.
Jonathan takes a practical approach to deal-making that puts a premium on big-picture issues that matter to his clients.
OUR TEAM
Robert Cromwell PARTNER
212.573.8034
rcromwell@sadis.com
Robert Cromwell practices in the firm’s Financial Services and Corporate groups. Robert’s practice is focused on purchases, sales and recapitalizations of private companies, venture capital start-ups, private equity transactions, registered and unregistered investment companies (ETFs, private equity funds, real estate funds and hedge funds) and representing founders, managers and boards of businesses and investment funds. Robert also advises clients on general corporate matters.
Robert’s transactional experience includes: corporate and LLC startups, restructurings and exits; registered and private securities offerings; hedge funds, mutual funds, private equity funds, collective trust funds; preparation of corporate and partnership governing documents, registration statements and periodic financial reports; equity incentive plans, employment agreements, loan agreements; counseling boards of directors of registered and private funds and retirement plan committees.
Robert’s practice is focused on purchases, sales and recapitalizations of private companies, venture capital start-ups, private equity transactions, registered and unregistered investment companies.
OUR TEAM
David Fitzgerald PARTNER
212.573.8428
dfitzgerald@sadis.com
DavidFitzgerald’spracticefocusesoninvestmentfunds, securities,jointventures,regulatorycomplianceand investmentadvisers.Heregularlystructuresandorganizes hedgefunds,privateequityfunds,fundsoffunds,separately managedaccountsandhybridfunds. Additionally,he advisesprivatefundmanagersonstructure,compensation, employmentandinvestorissues,andothermatters includingSECfilingsrelatingtomanagementcompanies.
Drawingonhis16yearsofexperienceasaninstitutional ChiefComplianceOfficerandGeneralCounsel,David providesongoingadvicetoinvestmentadviserson securitieslawissues. Hispracticealsoinvolvescounseling clientsinSECregulatorymatters,includingcompliance issuesrelatedtoinvestmentadvisers.
David is a Partner in the Firm’s Financial Services and Corporate Groups.
OUR TEAM
Seth Lebowitz PARTNER
212.573.8152
slebowitz@sadis.com
Seth Lebowitz is a partner in the firm’s Tax group. Seth advises clients on the tax-efficient planning and execution of a broad range of transactions, with a particular focus on the formation, operation and investing activities of private equity and hedge funds. Seth has experience with:
• Domestic and international tax issues relating to fund structuring
• Joint ventures and partnerships
• Corporate and real estate investing
• Lending
• Securities trading
• Distressed investing
• Financial products.
Seth advises clients on the tax-efficient planning and execution of a broad range of transactions, with a particular focus on the formation, operation and investing activities of private equity and hedge funds.
OUR TEAM
Mitchell Taras PARTNER
212.573.8417
mtaras@sadis.com
Mitchell Taras practices in the firm’s Real Estate and Corporate groups. He represents clients in a variety of complex real estate transactions, including acquisitions, dispositions, financing, construction, leasing and joint venture negotiations involving apartment buildings, shopping centers, hotels and office buildings. Mitchell has represented both borrowers and lenders in mezzanine lending, securitized loans, and secured and unsecured credit facilities. He has also represented owners in connection with construction contracts and disputes.
On the corporate side, Mitchell counsels proprietorships, franchisees and other closely held businesses in their day-to-day operations. He also has extensive experience in structuring, negotiating and implementing various business transactions, including sales of assets; mergers and consolidations; acquisitions and dispositions of companies; joint ventures; business restructuring and reorganization; and preparation of employment, shareholder, partnership and limited liability company operating agreements. With his broad experience, he also serves franchisees, entrepreneurs and other clients in a diverse range of industries.
Mitchell represents clients in a variety of complex real estate transactions, including acquisitions, dispositions, financing, construction, leasing and joint venture negotiations involving apartment buildings, shopping centers, hotels and office buildings.
OUR TEAM
Jaywon Choi ASSOCIATE
JaywonChoiisanassociateinSadis’FinancialServicesandCorporategroups,focusingonfund formation,corporatetransactions,andregulatorycomplianceforinvestmentfunds.
JaywonisfluentinKorean.
OUR TEAM
Jacob Shiffer ASSOCIATE
212.573.8027
shiffer@sadis.com
JacobShifferisanassociateinthefirm’sFinancialServicesandCorporategroups.Jacob concentrateshispracticesonprivatefundformation,mergersandacquisitions,andgeneral corporatematters.
PriortojoiningSadis,JacobservedintheUnitedStatesAirForceforeightyears,wherehe workedasanAnalyst.
ABOUT SADIS
Sadis&GoldbergLLPisaninternationallyrecognizedlaw firm.Drawingontheexperienceanddepthof ourlawyers,weleverageeachlawyer’sindustry-specific knowledgetohelpourclientssucceed.Thiscollaborative approachbringscollectiveinsighttothetablethat contributestosensible,efficientresolutions,andallowsus toremainattentivetocostandtimesensitivities.Sadis clientsincludedomesticandinternationalentities,financial institutions,familyoffices,venturecapitalfunds,hedge funds,privateequityfunds,buyoutfunds,commodity pools,specialpurposevehiclesandnumerousbusiness operatinginvariousindustriesaroundtheworld.
INDUSTRY INVOLVEMENT
SadisAnnualPrivateFundsForum–Industryleaders fromlawfirms,accountingfirms,thirdpartyadministrators, directorsandconsultantsfocusedontheprivatefund industrygathertogetherforseveraldaysfromacrossthe globetoshareideasanddiscussrecentdevelopments facingthefinancialservicesindustry.
SadisBusinessBreakfast–Bringstogetherinvestors, founders,accountants,analysts,capitalproviders,and otherbusinessleaderstodiscusstrendingtopicsand network.
IndependentSponsors–Sadishostsnetworkingevents forcapitalprovidersandindependentsponsors.
Sadis Family Office Dinners – Executives from family offices networking and sharing ideas on market trends acrossvariousindustries.
FOCUSED SOPHISTICATED REPRESENTATION
Sadis maintains a diverse, business-oriented practice focused on private investment funds, asset and wealth managers, family offices, litigation, corporate, mergers & acquisitions, real estate, regulatory and compliance, tax and ERISA.
“No law firm is better in the hedge fund space. Sadis doesn’t just know the legal framework; they are on the cutting edge of defining it.”
– JOHN STERLING FOUNDER, STERLING FUND MANAGERS
CORPORATE
Sadis&Goldberg’sCorporategrouprepresentsbusinessentitiesinallstagesofgrowth,fromsmallstartups andemergingbusinessestolargeandlong-establishedbusinessentities. OurattorneysactasongoingtransactionalcounselorsandresolvecomplexissuesintheUnitedStatesand internationally,inareassuchasmergersandacquisitions;activistinvesting;derivatives;privateequityand venturecapital;securitiesregulation;PIPEtransactions;bankingandfinance;andcapitalmarkets.The broadnatureoftheserviceswerenderreflectsthewidescopeofourclients’needsandthemanyand variedindustriesinwhichtheyoperate.Attorneyteamsdrawnfromthefirm’srelatedlegalareas collaboratetoprovidetheexperienceneededforeachofthesetransactions,includingcounselonissues relatedtotax,realestate,labor,ERISA,litigationandintellectualproperty,astheclient’scircumstances require.
OUTSIDE GENERAL COUNSEL
WhySadisisaGreatLawFirmforPortfolioCompaniesasSubstituteIn-HouseCounsel
• SpecializedExpertise:Sadishasdeepexperienceinareascriticaltoportfoliocompanies,suchascorporategovernance, privateequity,venturecapital,taxstructuringandregulatorycompliance,providingspecializedknowledgethatalignswith thespecificneedsoffast-growingbusinesses.
• Cost-EffectiveAlternative:OutsourcingtoSadiscanbemorecost-effectivethanhiringfull-timein-housecounsel,giving companiesaccesstotop-tierlegaladviceacrossavarietyofpracticeareaswithouttheoverheadofapermanentlegal team.
• BroadIndustryExperience:Sadisrepresentsawiderangeofindustries,givingitinsightsintodiversemarkettrendsand challenges,whichisvaluableforportfoliocompaniesinavarietyofsectors.
• TailoredLegalSolutions:Sadisoffersbespokelegalservices,understandingtheuniquegoalsandoperationalchallenges ofeachportfoliocompany,whichisessentialforprovidingeffective,strategiccounsel. ThisallowsSadistoaugment serviceswiththecompanyasitexpands,particularlythroughinvestmentroundsorexitstrategies.
• ProactiveRiskManagement:Sadisemphasizesproactivelegalstrategies,helpingportfoliocompaniesmitigatelegalrisks andregulatoryissuesearly,whichisvitalforprotectinginvestorinterestsandmaintainingoperationalefficiency.
• StrongTransactionalSupport:Sadisishighlyskilledinhandlingmergers,acquisitions,financingrounds,andother complextransactionsthatportfoliocompaniesoftenface,offeringexpertcounselthroughouttheseprocesses.
• Tax,RegulatoryandComplianceExpertise:Thefirm’sdeepunderstandingofcorporatetax(includingeffectively connectedandearnedincomeissues),securitiesregulationandcomplianceensuresthatportfoliocompaniesnavigate complexlegallandscapeswithoutfallingintocostlycompliancepitfalls.
• TrustedReputationintheInvestmentCommunity:Sadishasbuiltastrongreputationwithinvestors,funds,andfinancial institutions,addingcredibilityandassurancewhenactingasexternalcounselforportfoliocompanies.
• Cross-BorderCapabilities:Forcompaniesoperatingorexpandinginternationally,Sadisprovidesgloballegalexpertise, helpingnavigatecross-borderlegalchallenges,includinginternationalregulatorycomplianceandtransactionalsupport.
Thiscombinationofexpertise,flexibility,andvaluemakesSadisanidealpartnerforportfoliocompaniesseekinga substituteforin-houselegalcounsel.
MERGERS & ACQUISITIONS
Year after year, our Mergers & Acquisitions practice group continues to set the pace for leading-edge M&A transactions. We consistently collaborate with public and private companies, financial sponsors, independentsponsors,boardsofdirectors,andfinancialadvisors.
Ourapproachisteam-oriented.Clientstrustusnotonlytoadviseonspecifictransactionsbutalsoto providecounselandstrategicinsightstoachieveoptimalbusinessoutcomes.Weaimtomanageallaspects ofadeal,goingbeyondmerelegaltactics.Thiscommitmentismaintainedineverytransactionaswefocus onyourgoals,seekingtounderstandyourbusinessanddeliverthegreatestpossiblevalue.
Thecomprehensivenatureofourservicesreflectsthebroadscopeofourclients’needsacrossdiverse industries.OurM&Aplatformcomprisesamulti-disciplinaryteamofattorneysdrawnfromthefirm’srelated legalareas.Thiscollaborativeapproachensuresthenecessaryexpertiseforeachtransaction,incorporating distinguishedprofessionalsintax,finance,regulation,andexecutivecompensation.Ourteamprovides seamless,integratedservice.
Sadis'Mergers&Acquisitionsgrouprepresentsbusinessentitiesatallstagesofgrowth,rangingfromsmall startupsandemergingbusinessestolargeandlong-establishedentities.Ourattorneysserveasongoing transactionalcounselors,addressingcomplexissuesbothintheUnitedStatesandinternationally.We specializeinareassuchasmergersandacquisitions,activistinvesting,derivatives,privateequityandventure capital,securitiesregulation,SPACandPIPEtransactions,bankingandfinance,andcapitalmarkets.
VENTURE CAPITAL
TheSadisVentureCapitalgroupisexperiencedinall aspectsofstructuringforawidevarietyofstructures, includingmanyinnovative“hybrid”fundstructures designedtoreduceriskinconnectionwithcapital callsand/orthecreationofpermanentcapital vehicles.Weroutinelyrepresentprivatefundsand managersoperatinginabroadarrayofassetclasses andindustries,including:technology,healthcare, media,software,insurance,biotechnology,real estate,cannabis,communications,digitalcurrency andDeFi’s,oilandgas,naturalresources,gaming, leisure,entertainment,renewableenergycredits, fintechandalternativefinance.Ourventurecapital servicescoverthefullarrayoffundformationand regulatoryservicesformanagers,aswellasadvicein connectionwithacquisitions,strategicinvestments, aswellasdivestitureslocatedintheUnitedStates, withaparticularfocusonmiddle-market transactions.
Wealsodraftandnegotiateagreements documentingtherelationshipbetweenthefund manager’sprincipalsandemployees,sub-advisors, consultants,andfundcounterparties.Sadiscurrently representsseveralhundredprivateinvestmentfunds withmanagersthroughouttheworld.Ourclientbase iscomprisedofclientsofallsizes,backgroundsand investmentsectors,andourclientbaserepresentsa significantpercentageoftheprivatefundindustry’s marketshare,providingthefirmwithanunusual awarenessofcurrentmarketbehaviors,favored commercialtermsandotherindustrytrends.This uniqueaccesstocurrentmarketinformationallows ourteamtoadviseourclientswithbothexperienced legalcounselandtimelybusinessintelligence.By virtueofrepresentingseveralhundredalternative investmentvehicleswithinvestmentmanagers domiciledthroughouttheworld,ourmarket
marketsharegivesusauniqueperspectiveon theglobalinvestmentfundsindustry.
Additionally,asaresultofouruniqueglobal footprint,weenjoyverystrongrelationshipswith leadinglegalcounsel,auditors,placement agents,andotherprofessionalsininternational centersforonshoreandoffshorefinance,such astheCaymanIslands,Canada,Bermuda,the BritishVirginIslands,Germany,Luxembourg, Ireland,Israel,Switzerland,Malta,Jersey, Guernsey,Mauritius,HongKong,Singaporeand theUnitedKingdom.
We
routinelyrepresent venturecapital,privateequity, realestatefunds,andtheir managersandprincipalsin allaspectsofthebusiness, includingtransactional mattersandportfolio companywork.
PRIVATE EQUITY
Sadishasarobustprivateequitypractice,advisingbothfundsponsorsandinvestors.Ourclientsbenefitfrom ourdepthofexperience,asweprovideseasonaladvice,practicalandinnovativesolutions,andfirstclass service.Ourpracticeisincrediblyversatile,withexperienceinstructuringandformationoffunds,the structuringofinvestmentsandthenegotiationofacquisitionsanddivestitures.
Inadditiontoourprivatefundspractice,Sadisworkswithsomeofthemarket'smostactiveandsophisticated privateequityinvestorstostructure,negotiate,andcloseafullrangeofinvestmentandacquisitions transactions.Ourteamhasconsiderableexperienceinrepresentingprivateequityfunds,management groups,consortiums,familyoffices,lenders,andportfoliocompaniesinthefullspectrumofprivateequity transactions,including,butnotlimitedto:leveragedbuyouts,corporatecarveouts,growthequity investments,distresseddeals,andco-investments-forfundsrangingfromlargemultinationalfundsto independentsponsors.
HEDGE FUNDS
TheFinancialServicesGroupatSadisprovides legaladvicetobothdomesticandoffshoreprivate investmentfundsinthealternativeinvestmentspace. Weprovidecounselonthestructureandformationof newfunds,aswellasthereorganizationand restructuringofexistingfunds.Westructureand serviceawidevarietyoffunds,suchaslong/short equityfunds,globalmacrofunds,emergingmarket funds, riskarbitragefunds,convertiblearbitrage funds,highyieldbondfunds,distresseddebtfunds, bankdebtfunds,sector-specificfunds(e.g. technology,Internet,healthcare,biotechnology), collectiblefunds(e.g. car,art,watch),crypto-currency funds,cannabisfunds, fundoffunds,multi-manager fundsandfundplatforms. Weprovidecustomized draftingofconfidentialprivateplacement memoranda,limitedpartnershipagreements, operatingagreements,subscriptiondocuments andotherrelatedfunddocuments.
Wealsodraftandnegotiateagreements documentingtherelationshipwithfundmanagers, principalsandemployees,subadvisors,consultants andfundcounterparties.Sadiscurrentlyrepresents hundreds ofprivateinvestmentfundswithmanagers throughouttheworld.Ourclientbaseiscomprisedof clientsof allsizes,backgroundsandinvestment sectorsandourclientbaserepresentsasignificant percentageoftheprivatefundindustry’smarket share,providingtheFirmwithanunusualawareness ofcurrentmarketbehaviors,favoredcommercial termsandotherindustrytrends.Thisuniqueaccess tocurrentmarketinformationallowsourteamto adviseourclientswithbothexperiencedlegal counselandtimelybusinessintelligence.Byvirtueof representingseveralhundredalternativeinvestment vehicleswithinvestmentmanagersdomiciled
throughouttheworld,ourmarketsharegives usauniqueperspectiveontheglobalinvestment fundsindustry.
Additionally,asaresultofouruniqueglobal footprint,weenjoyverystrongrelationshipswith leadinglegalcounselandotherprofessionalsin internationalcentersforonshoreandoffshore finance,suchastheCaymanIslands,Bermuda,the BritishVirginIslands,Luxembourg,Ireland, Switzerland,Malta,Jersey,Guernsey,Mauritius, HongKongandtheUnitedKingdom.Inaddition, wemaintainaspecializedcross-borderfunds practicetargetingnon-USmanagersseeking tooffersecuritiesandlaunchproductsinthe UnitedStates,includingclientsinIreland,theUK, theNetherlands,Canada,China,Singapore, France, Luxembourg,GermanyandSwitzerland.
Ourclientbaserepresents asignificantpercentageofthe privatefundindustry’smarket share,providingtheFirmwith anunusualawarenessof currentmarketbehaviors, favoredcommercialtermsand otherindustrytrends.
INVESTMENT FUNDS
The Sadis Investment Funds practice has represented private funds clients for almost 30 years, playing a prominentroleinthedevelopmentoftheprivatefundsindustryandearningusauniqueleadershiproleinthe sector. Working closely with lawyers in the Firm's other practice areas, our team provides comprehensive advice to many of the world's best-known institutional alternative asset managers, as well as smaller first-time fundsandindependentboutiques.
Our clients include the full spectrum of investment funds, including private equity, hedge, real estate, venture capital, registered mutual (both open-end and closed-end) and UCITS funds, sponsored by some of the highest-profile global fund managers. We work extensively either withor opposite each major category of investor in private funds, including corporate, public and private pension plan, private family, foundation and endowment, fund of funds, sovereign wealthfundandquasi-governmental organizationinvestors.
REPRESENTATIVE TRANSACTIONS
• RepresentedBramshillintheirpurchaseofaRIA anditsmutualfundoperationsandemployees.
• Rollupofa$500Mregisteredinvestment adviser
• RepresentedSkybridgeCapitalinconnection withitspurchaseofCitiGroup’shedgefund businesswith$4.2Bofassetsunder management
• Representedaninvestmentmanagerin connectionwiththepartialsaleofitsbusiness, includingaworkouttoextricatethesellerfrom certainliabilities
• Representedaplatforminonboarding independentRIAteamw/compliance, employmentandtechnologyagreements.
• Representedteamfromwirehouseinliftoutto establishanindependentRIA.
• Representationofinvestmentmanagement companyascollateralagentinrated, institutionalCLOoffering
• Representedinvestmentmanagementcompany assyndicatorandcollateralagentinunrated offeringofbondsofsecuritizationvehicle focusedonlifesettlementsassets
• Multiplerepresentationofinvestment managementcompaniesinconnectionwith securitizationsandsyndicationsofinvestment assets
• RepresentedPEbackedfirm,oneofthelargest specialistfundadministrationandmiddleoffice solutionproviders,inmultipleacquisitions.The $8milliondollaracquisitionfurtherexpanded Apex’sfootprintintheU.S.andCanadian marketplaceandincreasedthevisibilityofthe Apexbrandworldwide
• Servedasco-counselintheportfoliorollupand refinanceofLawCashin$180milliondollarsale ofassets
• Representedalargeaccountingfirminitsspin outofitsfinancialadvisingpracticeand structuredandmergedwithanotherlarge advisingfirmtoform.Thetotalaccountunder managementofthenewfirmwas$3Batthe timeofthetransaction.
• $125Mrefinancingandbuyoutofspecialty lendingcompany
• $100Msaleofafinancialplanningcompanytoa privateequityfirm
• Saleof$125Mmiddlemarketfinancingcompany
• Saleof$70Msoftwareprovider
• Saleof$95Maerospacepartsprovider
• Purchaseof$65Mmilitaryapparelcompany
• Purchaseof$85Mfinancialadministration company
• Saleof$40MMadministrator
• Reversemergerandpurchaseoftelecom companies
• $125Msaleofinternettextilecompanytoa Fortune50company
• Representationofsyndicatorinprogramof securitizationsforemergingmarketcompanies
REPRESENTATIVE CLIENTS
We have represented a diverse variety of clients throughout our long history, spanning across several industries. These clients include, but are not limited to:
• ApexGroupLtd.(portfolio companyofGenstarCapital)
• FieraCapital
• Gramercy
• Investcorp
• Ripplewood
• TailendPartners
• BrownBrothersHarriman
• CrownVentures
• GAMCo.
• Ibex
• Neuberger
• SkyBridge
• TimberlinePartners