Private Capital Conversations
Activism
Schulte partners Ele Klein, Adriana Schwartz and Michael Swartz discuss recent developments and trends in shareholder activism, including universal proxy rule updates, and companies attempting to use advance notice bylaws to push activists away. They also share their perspectives on the changing landscape in activism and how it has affected voting.
Crypto
Schulte partners Stephanie Breslow, Kara Kuchar and Craig Warkol explore the latest developments concerning crypto, as it relates to fundraising, fund retaining and blockchain venture investing. They also examine the effect of recent bank failures on bitcoin, and how differing state legislations has made it difficult for exchanges to navigate compliance.
Fund Finance
Schulte partners Craig Stein and Daniel Oshinsky summarize the products being seen in fund finance, including NAV facilities, the secondary market and collateralized fund obligations. They also discuss the focus of lenders, trends within the secondary market and how individuals may be affected by the new NAIC proposal.
Distressed Opportunities
Schulte partners Adam Harris, Gayle Klein, Kristine Manoukian and Doug Mintz forecast distressed opportunities, including if crypto will be treated as a security in bankruptcy proceedings, and how companies are attempting to use bankruptcy to deal with mass tort liability. They also discuss how recent developments will change the overall lending market for years to come.
ESG
Schulte partners Anna Maleva-Otto and Heather Wyckoff discuss the differences in how ESG is viewed and handled in Europe and the U.S., including how ESG has become highly politicized in the U.S. while European institutions have invested more in ESG-focused strategies fueled by regulatory change. They also explore concern over perceived “greenwashing,” the emergence of ESG consultants, and a standardized definition of sustainable investment.
Private Credit: Expansion and Opportunities
Schulte partners Jason Kaplan, David Arnstein, Adam Heasley and Heather Wyckoff discuss fundraising for private credit funds, how private credit has been gaining market share for years, and the ways in which volatility and uncertainty create opportunity. They also share how a possible recession could impact deal flow in the space and discuss how lenders and private equity sponsors may react.
Specialty Finance
Schulte partners Andi Mandell, Steven Schauder and Boris Ziser discuss the allocation of funds to specialty finance after the volatility in the market last year, and how rising interest rates slowed down the debt market, effectively changing how people invested. They review the new asset classes that were created and the possible effects of proposed legislation banning securitization of assets.
Sanctions
Schulte partner Melissa Goldstein and special counsel Hannah Thibideau discuss the Corporate Transparency Act, how U.K. sanctions apply to Cayman funds and the potential need for clients to report beneficial ownership information directly to U.S. Treasury. They also emphasize the importance of performing diligence on investors on the front end and receiving adequate representations.
Estate Planning
Schulte partners Laura Angel-Lalanne, Daniel Blumenthal, Marnie Grossman and Brian Smith discuss basic estate planning documents that a client should consider, as well as how to meld estate planning thoughts and objectives with fund documents. They also detail grantor retained annuity trusts, gift tax planning and the role philanthropy plays in wealth transfer.
