Firm News
Schulte Advises Endicott in Strategic Investment Into Bank Leumi USA
May 23, 2018
Schulte advised Endicott Management Company, a leading New York City investment firm primarily focused on equity investments in banks, in its strategic investment in Bank Leumi le-Israel Corporation, a U.S. bank holding company. The investment, announced on Jan. 22, 2018, which involved Bank Leumi le-Israel B.M.'s sale of the shares it held in Bank Leumi le-Israel, was led by Endicott and included MSD Capital LP. The transaction closed on May 23, 2018 and totaled a 15 percent stake in Bank Leumi le-Israel, valued at approximately $1 billion.
The Schulte team advising Endicott was led by former Schulte lawyer Joseph Vitale, M&A associate Lawrence Natke, bank regulatory associate Jessica Romano and former Schulte lawyer Caitlin Cornell.
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The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]