Seward

Side Letter Study by Seward & Kissel LLP Shows Flight to Mature Hedge Funds

Retrieved on: 
Tuesday, October 17, 2023
Professional Services, Legal, Insurance, Finance, Consulting, Accounting, Seward & Kissel, Environment, Seward, Corporation, Cryptocurrency, Commercial property

The authors of Seward & Kissel’s eighth annual Hedge Fund Side Letter Study attribute the large and growing disparity between the share of side letters issued by mature and new managers in part to the challenging fundraising environment facing newer funds.

Key Points: 
  • The authors of Seward & Kissel’s eighth annual Hedge Fund Side Letter Study attribute the large and growing disparity between the share of side letters issued by mature and new managers in part to the challenging fundraising environment facing newer funds.
  • The Seward & Kissel 2022/23 Hedge Fund Side Letter Study, released today, shows that 84% of side letters—special agreements between hedge funds and their investors—were signed with mature managers, defined in the study as those in business for two or more years.
  • “Our eighth Side Letter Study has again unearthed valuable insights into the continued evolution of hedge funds and their investors,” said Kevin Neubauer , partner at Seward & Kissel and lead author of the study.
  • “The Seward & Kissel 2022/23 Hedge Fund Side Letter Study demonstrates strategic choices being made by hedge fund managers and their investor base alike.”

Amanda K. Brown Joins Seward & Kissel’s Maritime and Transportation Group

Retrieved on: 
Thursday, October 12, 2023
Legal, Finance, Maritime, Consulting, Transport, Banking, Professional Services, Logistics, Supply Chain Management, Other Professional Services, Economic development, George Washington University Law School, New York City Economic Development Corporation, Seward & Kissel, Yale University, Ministry of Maritime Affairs, Transport and Infrastructure, Fesco Transport Group, Seward, Negotiation, Shipbuilding

Seward & Kissel LLP announced today that Amanda K. Brown has joined the firm’s New York office as special counsel in the Maritime and Transportation Group.

Key Points: 
  • Seward & Kissel LLP announced today that Amanda K. Brown has joined the firm’s New York office as special counsel in the Maritime and Transportation Group.
  • “Amanda has a wealth of experience and a rich understanding of maritime and transportation law, especially as it relates to complex financing transactions,” said Seward & Kissel managing partner Jim Cofer .
  • “We’re excited by her return to our firm and the skills she brings to our Maritime and Transportation practice.”
    Brown began her career at Seward & Kissel, where she was an associate from 2006 to 2014.
  • “Amanda is a valuable addition to Seward & Kissel’s maritime and transportation practice,” said Seward & Kissel partner Michael Timpone , head of the firm’s Transportation Finance Group.

Seward & Kissel Appoints Russell Johnston Co-Head of Litigation Group and Michael Watling Co-Head of Government Enforcement and Internal Investigations Group

Retrieved on: 
Wednesday, September 20, 2023
Banking, Accounting, Professional Services, Courts, White House, Federal Government, Law Enforcement, Emergency Services, State, Local, Legal, Elections, Campaigns, Finance, Consulting, Public Policy, Government, CFTC, Justice, Office of Inspector General, U.S. Department of Health and Human Services, Public Citizen Litigation Group, Seward & Kissel, Russell Johnston, Insurance Fraud Enforcement Department, DOJ, Seward, Justice minister, U.S. Department of Justice Office of Legislative Affairs, Nawade, Private practice, Financial Industry Regulatory Authority, Watling, FINRA, NYSE, United States Justice Department investigation into attempts to overturn the 2020 presidential election, Financial adviser

The Firm has also named partner Michael Watling , a former federal prosecutor in the U.S. Department of Justice and former senior litigation counsel at FINRA, co-head of the firm’s Government Enforcement and Internal Investigations Group, joining partner Jaimie Nawaday in that role.

Key Points: 
  • The Firm has also named partner Michael Watling , a former federal prosecutor in the U.S. Department of Justice and former senior litigation counsel at FINRA, co-head of the firm’s Government Enforcement and Internal Investigations Group, joining partner Jaimie Nawaday in that role.
  • The duo, who served together at FINRA for seven years before entering private practice, joined Seward & Kissel in November 2022.
  • “Russell and Michael are trusted, steadfast leaders, admired not only by their clients but by members of our firm,” said Seward & Kissel managing partner Jim Cofer .
  • Paulsen , co-head of Seward & Kissel’s Litigation Group, noted: “Russell has been at the forefront of significant, complex, and highly sensitive matters.

Sean Thorsen Joins Seward & Kissel’s Real Estate Group

Retrieved on: 
Wednesday, August 23, 2023
Commercial Building & Real Estate, Legal, Construction & Property, Finance, Consulting, Professional Services, REIT, Residential Building & Real Estate, LLP, Seward & Kissel, McDermott Will & Emery, Fannie Mae, Hibernia Real Estate Group, Seward, Sale, Hamilton College, Investment, Freddie Mac, Cahill Gordon & Reindel, DLA Piper, Real estate

“His experience with real estate finance adds another valuable layer of depth to the spectrum of services offered by our Real Estate Group.”

Key Points: 
  • “His experience with real estate finance adds another valuable layer of depth to the spectrum of services offered by our Real Estate Group.”
    Throughout his 15-year career, Thorsen has advised financial institutions, private lenders, and borrowers on commercial real estate financing matters.
  • Before joining Seward & Kissel, Thorsen practiced with a real estate finance group at both DLA Piper LLP and McDermott Will & Emery LLP.
  • “We are delighted that Sean has brought his wide-ranging experience in real estate finance to Seward & Kissel,” said Rhona Kisch , partner and head of Seward & Kissel’s Real Estate Group.
  • “His ability to assist private lenders and other financial institutions with financing issues provides a valuable complement to our group’s broader work on real estate acquisitions, workouts, investments in private equity real estate funds, and other matters.”
    “For years, I have admired Seward & Kissel’s sophisticated work in a wide range of real estate and real estate related transactions,” added Thorsen.

Daniel Viola Joins Seward & Kissel’s Investment Management Group as Head of SKRC

Retrieved on: 
Tuesday, August 1, 2023
Finance, Consulting, Professional Services, Legal, Asset Management, Seward & Kissel, Head, Seward, RBC Capital Markets, NY, FINRA, Corporate finance, Goldberg, SunGard, Viola, Computer security, Financial adviser, Blockchain, Satellite

Seward & Kissel LLP announced today that Daniel G. Viola has joined the firm’s New York office as a partner in the Investment Management Group to act as Head of the firm’s innovative regulatory platform, SKRC.

Key Points: 
  • Seward & Kissel LLP announced today that Daniel G. Viola has joined the firm’s New York office as a partner in the Investment Management Group to act as Head of the firm’s innovative regulatory platform, SKRC.
  • “Daniel brings decades of experience advising investment advisers, their funds, and broker-dealers with respect to regulatory matters,” said Seward & Kissel managing partner Jim Cofer .
  • “We are delighted that Daniel is joining us to lead SKRC,” said Pat Poglinco and Rob Van Grover , co-heads of Seward & Kissel’s Investment Management Group.
  • Viola regularly speaks on Blockchain and current regulatory issues impacting the investment management industry.

Myolex Appoints Healthcare Entrepreneur Dave Dickinson as Chief Executive Officer

Retrieved on: 
Wednesday, July 26, 2023
Partnership, EIM, Zeo, Inc., ALS, Health, Marketing, Seward, Research, Sarcopenia, Harvard Medical School, Neurology, PHI, Johnson & Johnson, FDA, SVP, Muscular dystrophy, Management

BOSTON, July 26, 2023 /PRNewswire/ -- Myolex® Inc. announced today that Dave Dickinson has been named the company's Chief Executive Officer and Board Director.

Key Points: 
  • BOSTON, July 26, 2023 /PRNewswire/ -- Myolex® Inc. announced today that Dave Dickinson has been named the company's Chief Executive Officer and Board Director.
  • An award-winning innovator and seasoned Fortune 100 healthcare executive, Dave brings extensive startup CEO, product development, marketing, and strategic partnership experience to the Myolex team.
  • Before UHG/Optum, he held Global Chief Marketing Officer, Global New Business Development, and VP Marketing/General Manager roles at Bristol-Myers Squibb, Church & Dwight, and Johnson & Johnson.
  • "I am honored to join Myolex and Seward's vision to reinvent and significantly improve how muscle health is quantified. "

Seward & Kissel Promotes Danielle Lemberg, Brian Maloney, Kurt Plankl, and David Stutzman to Partner

Retrieved on: 
Friday, July 7, 2023
Legal, Professional Services, Weeks Marine, Baruch College, Heart, Society, University, NEXT Woman of the Year awards, Office of Inspector General, U.S. Department of Health and Human Services, Public Citizen Litigation Group, Seward & Kissel, Registry, Chambers, Estate, American College of Trust and Estate Counsel, The National Law Journal, Seward, STEP, Office of Foreign Assets Control, Coif, Author, Lawyer, Dartmouth College, Lviv, Fordham University School of Law, Boston College Law School, State University of New York Maritime College, Sale, Bloomberg, Stutzman, Marshall Islands, Society of Trust and Estate Practitioners, Merchant, Corporate law, American College, University of Pennsylvania Journal of Business Law, Property management, Trust

Seward & Kissel LLP announced today that counsel Danielle Lemberg , Brian Maloney , Kurt Plankl , and David Stutzman have been promoted to partner, effective July 1.

Key Points: 
  • Seward & Kissel LLP announced today that counsel Danielle Lemberg , Brian Maloney , Kurt Plankl , and David Stutzman have been promoted to partner, effective July 1.
  • “Danielle, Brian, Kurt, and David are exceptional lawyers who bring diverse skills, experience, and perspectives to our clients,” said Seward & Kissel managing partner Jim Cofer .
  • Maloney has written and spoken extensively on shipping litigation and contributes to Seward & Kissel’s Maritime Blog and Marshall Islands Law Blog .
  • He is qualified to practice in New York and the Marshall Islands, and contributes to Seward & Kissel’s Maritime Blog .

Seward & Kissel Established Manager Hedge Fund Study Shows Management Fees Dependent on Investment Strategy

Retrieved on: 
Tuesday, June 20, 2023
Professional Services, Other Professional Services, Legal, Finance, Asset Management, Consulting, Seward, Seward & Kissel, Annual report, Environment, Nature, Cryptocurrency, Video game

The first-ever Seward & Kissel Established Manager Hedge Fund Study, from the leading law firm to the private fund industry, is an analysis of new hedge funds and new classes of funds launched by established managers within their existing businesses.

Key Points: 
  • The first-ever Seward & Kissel Established Manager Hedge Fund Study, from the leading law firm to the private fund industry, is an analysis of new hedge funds and new classes of funds launched by established managers within their existing businesses.
  • This first edition of the Seward & Kissel Established Manager Hedge Fund Study is a companion to the long-running and industry-leading Seward & Kissel New Manager Hedge Fund Study, an annual analysis of hedge funds launched by new managers.
  • The firm’s full suite of reports also now includes an annual report on side letters, the Seward & Kissel Hedge Fund Side Letter Study, and the Seward & Kissel Seed Transactions Deal Points Study, which was just released .
  • Seward & Kissel Investment Management Group partner Nick Miller, the lead author of the Seward & Kissel Established Manager Hedge Fund Study:
    “For investment managers at all levels of experience, the Seward & Kissel Established Manager Hedge Fund Study provides practical intelligence on the industry and how these managers are growing their asset bases, as well as on the demands being made by investors.”
    “The difference in management fees between established funds employing traditional and bespoke strategies is dramatic but not unexpected, reflecting the fact that bespoke funds are much less alpha-focused.”
    “While it’s surprising that so many funds from established managers were standalone U.S. funds without offshore equivalents, it’s likely that those funds are ‘testing the waters’ before expanding internationally.”
    Nick Miller is available to speak to the media about the Seward & Kissel Established Manager Hedge Fund Study.

Seward & Kissel Study Shows Seed Transactions Returning to Pre-Pandemic Levels Despite Economic Slowdown

Retrieved on: 
Wednesday, June 7, 2023
Finance, Consulting, Banking, Professional Services, Legal, Seward, Digital, Data, Face, Investment, Seward & Kissel, Cryptocurrency, Sales

A new report on seed investments in hedge funds, private equity funds, and other investment vehicles shows such transactions returning to pre-pandemic levels even in the face of challenging market conditions.

Key Points: 
  • A new report on seed investments in hedge funds, private equity funds, and other investment vehicles shows such transactions returning to pre-pandemic levels even in the face of challenging market conditions.
  • The ninth annual Seward & Kissel Seed Transactions Deal Points Study, an analysis of 2022 seed investments produced by the leading law firm to the private fund industry, revealed surprising resilience in seed activity, which approached 2019 levels last year despite negative forces in the broader economy that included rising interest rates and the underwater status of many investment portfolios.
  • Seward & Kissel observes that interest in less-liquid investment products have been on the rise in recent years, accounting for a growing share of seed activity.
  • However, the study also shows that seed investors sought protections to manage risks of market downturns and volatility, often negotiating performance-related lock-up release triggers.

Seward & Kissel New Manager Hedge Fund Study Suggests Change in Portfolio Dynamics

Retrieved on: 
Wednesday, May 17, 2023
Banking, Accounting, Professional Services, Asset Management, Small Business, Other Policy Issues, Other Professional Services, Legal, Insurance, Finance, Consulting, Public Policy, Government, Seward & Kissel, Seward, AUM, Cryptocurrency, Bank

The Seward & Kissel New Manager Hedge Fund Study, an annual analysis of new manager hedge funds produced by the leading law firm to the private fund industry, reveals that hedge fund terms regarding withdrawal frequency, investor-level gates, and so-called “hard lock-ups” all trended toward limiting liquidity last year.

Key Points: 
  • The Seward & Kissel New Manager Hedge Fund Study, an annual analysis of new manager hedge funds produced by the leading law firm to the private fund industry, reveals that hedge fund terms regarding withdrawal frequency, investor-level gates, and so-called “hard lock-ups” all trended toward limiting liquidity last year.
  • The share of funds limiting withdrawals to a quarterly (or less frequent) basis rose to 91% in 2022, up from 81% five years ago.
  • The forthcoming Seward & Kissel Established Manager Hedge Fund Study found that, among other things, quarterly liquidity, as well as soft lock-ups and/or gates was present in about 25% of the funds with traditional hedge fund strategies, and was even less restrictive among short-term income-focused bespoke strategies funds (of which 75% offered monthly liquidity).
  • Other key findings of the Seward & Kissel New Manager Hedge Fund Study include:
    The share of managers who launched with just a U.S. standalone fund rose to 60%, up from 39% in 2021.