Schulte Roth & Zabel LLP

Looking forward to discussing the Pay-to-Play Rules and considerations for asset managers with Allison Bernbach (Scher) and Suzan Rose.

The Chambers and Partners High Net Worth Guide 2024 once again recognized Schulte as a leading law firm. In an impressive expansion, the firm added two new individual partner rankings for Susan Frunzi in Family Offices & Funds Structuring and Marnie Grossman in Private Wealth Law. As a practice group, the firm elevated its position in two categories, including Family Offices & Funds Structuring and New York Private Wealth. Firm Rankings: USA Family Offices & Funds Structuring Private Wealth Law New York Private Wealth Law Individual Rankings: USA Private Wealth Law: Eastern Region Susan Frunzi William Zabel Family Offices & Funds Structuring Susan Frunzi New York Private Wealth Law Kim Baptiste Susan Frunzi Catherine Grevers Schmidt Marnie Grossman William Zabel Read about our Individual Client Services practice: https://bit.ly/4faut9u View the rankings: https://bit.ly/3zKln34 #SchulteLaw

Schulte was ranked the #1 Counsel to Creditors, based on deal volume, for the fourth consecutive quarter in The Deal's Q2 2024 Out-of-Court Restructuring League Tables. The firm also maintained their #7 ranking for Counsel to Distressed Companies for the second consecutive quarter in 2024. The Business Reorganization Group is led by partners Adam Harris, Kristine Manoukian and Douglas Mintz. See full Q2 Restructuring League Tables: https://bit.ly/3yam84L #SchulteLaw

Schulte partners Martin Sharkey and Craig Stein spoke with 9fin for the article, “CLO legal league tables Q2 24 — Busy quarter gives opportunity for doc changes as sticky stips emerge.”     Craig described how the quarter has been marked by a significant influx of CLOs, with resets being particularly prevalent in the United States.     “We’re seeing some clients resetting practically every one of their deals, as no matter what the vintage, the spreads in those deals are wider than the market today.”     Despite the busy issuance pace, there are still many investor stipulations, indicating investor sophistication, Martin observed.    “Pushbacks we’re seeing are on reinvestment criteria, maturity amendments, and the ability to acquire loss mitigation loans (LMLs), up-tiered assets and privately rated assets.”     Craig noted that the treatment of LMLs is crucial due to the increase in out-of-court workouts and restructurings.     “How LMLs are treated in the indenture is still extremely important for managers and equity as we’re starting to see less actual bankruptcy filings and more out of court workouts and restructurings, so it’s important for managers to be able to participate.”    The CLO market is often preoccupied with potential regulatory challenges. However, Martin speculated that regulation should move to a more favorable environment with EU regulators appearing open to reducing the burden. “The bigger risk for the CLO market is geo-political shocks, like COVID or Ukraine,” Martin described.   #SchulteLaw 

Schulte has been shortlisted in multiple categories for the With Intelligence HFM US Services Awards 2024:     ·    Best Onshore Law Firm   ·    Best Onshore Law Firm - Client Service   ·    Best Law Firm - Alternative Credit    The awards recognize hedge fund service providers who demonstrate exceptional client service, innovative product development and strong and sustainable business growth.     View the shortlist here: https://bit.ly/3zU0u5g  

On July 3, 2024, Judge Ada Brown of the US District Court for the Northern District of Texas issued a ruling in the litigation challenging the Federal Trade Commission’s final rule (“Rule”) prohibiting the use of noncompetition restrictions in the workplace. Judge Brown granted a stay and preliminary injunction preventing the Rule from taking effect against the plaintiff and plaintiff-intervenors in the action while the litigation is pending.     Contact your Schulte representatives to discuss the decision and any related restrictive covenant issues.    Learn more: https://bit.ly/3zKK0MS     #SchulteLaw 

For the second consecutive quarter, Schulte ranked 2nd in the Manager Counsel – US Middle Market category, and 3rd in the Manager Counsel – US Broadly Syndicated Loan category in the Q2 2024 9fin CLO league tables. The firm advised on more than $18 billion across 42 deals in the US. #SchulteLaw

Kelly Koscuiszka, Schulte partner and co-chair of the firm's Investment Management Regulatory & Compliance Group, has been selected as an inspirational role model for future cohorts of women leaders by The Hedge Fund Journal's inaugural report "Private Markets: 50 Women Leaders 2024." The report showcases women holding prominent investment positions in portfolio management, fund selection and allocation, emphasizing the importance of diversity. These distinguished honorees also champion DEI efforts both within their organizations and throughout the broader industry via committees, interest groups, professional associations and specific initiatives. Kelly practices at the complex intersection of regulation and emerging technologies, which includes rapidly evolving areas of artificial intelligence, alternative data, web scraping, electronic communications, data privacy and cybersecurity. Several major regulatory issues have shaped the industry over the past year and Kelly has been on the front lines in facing them. She is a leading resource for advising private funds managers on the acquisition and use of alternative data and their adoption and use of artificial intelligence. Read the full report: https://bit.ly/3VTvVEk #SchulteLaw #WomenLeaders #PrivateMarkets

As part of the Schulte Summer Program, our summer associates were treated to a discussion and Q&A with Schulte alums Kate Sullivan, Erin Chizner, Arlene Shaw and Justin Mendelsohn. Moderated by partner and Summer Program co-chair Donna Lazarus, our alum panelists shared candid and often amusing insights and perspectives on their experiences at Schulte and beyond. Wise guidance from the panelists included: · “Always worth it to take an extra few minutes to review your work before sending. Think about how you can add value.” -- Erin Chizner, Associate General Counsel, Taconic Capital Advisors · "Be kind, open, present and responsive. It will make you a better associate." -- Justin Mendelsohn, Head of AML and Sanction, Fidelity Digital Assets · “Network with your classmates, colleagues and people you know. You are rising, and all ships rise together. Your personal group can also help raise your ship.” -- Arlene Shaw, Managing Director, Brightwood Capital · "Get your finances in order. Save! It will give you flexibility in life to be able to take leaps!" -- Kate Sullivan, Compliance Officer, Point72 To learn more about our alums, join the Schulte Alumni Network: alumni.srz.com #SchulteAlumni #SummerAssociates

Schulte was ranked the #1 legal adviser to activists for the second quarter of 2024 by FactSet. Previously, FactSet recognized Schulte as the top legal adviser to activists during the first quarter of 2024. Earlier this year, Schulte’s Shareholder Activism Group was ranked in Tier 1 for Shareholder Activism: Advice to Shareholders, with Ele Klein being identified as “the most thoughtful and able lawyer working for shareholder activists.” The Firm’s Shareholder Activism Group was also awarded a Band 1 ranking in Corporate/M&A: Shareholder Activism by Chambers and Partners. Learn more about the FactSet rankings: https://bit.ly/3xASQvE #SchulteLaw #ShareholderActivism