Firm News
Schulte Roth & Zabel Bolsters M&A and Securities Practice with Addition of Partner Michael R. Flynn
Oct 27, 2021, 12:00 AM
Schulte Roth & Zabel today announced that Michael R. Flynn, a seasoned lawyer within the private capital industry, has joined the firm as a partner in the M&A and Securities Group, based in the firm's New York office.
Mike brings to SRZ more than 27 years of experience serving venture and growth equity investors across the fintech, energy tech, life sciences, telecommunications, software, consumer and general IT sectors. At SRZ, Mr. Flynn will serve investment funds, strategic investors and other investor-side clients, both in the US and globally, on their portfolio investments, exit transactions and restructurings. In particular, he will focus on the emerging trend of hedge fund managers pursuing growth investment opportunities across the private markets.
Mr. Flynn said, “I am excited to join SRZ. The firm’s comprehensive, industry-leading platform is perfectly aligned with my practice. I share the firm’s conviction that our clients’ activities in the venture and growth equity sectors will continue into 2022 and beyond and I look forward to helping our clients capitalize on the many opportunities in this exciting space.”
“Mike joins us at a pivotal point, as investment firms’ activity in the private markets is reaching record levels," said Schulte Roth & Zabel co-managing partner Marc Elovitz. “SRZ is at the forefront of this public-to-private investment phenomenon, advising our clients daily on complex situations, crossover and hybrid opportunities. Mike’s insights across the private capital market will be an invaluable resource as we continue to deliver a comprehensive suite of services to meet the rapidly evolving needs of our clients.”
SRZ continues to add substantial talent in strategic practice areas to enhance how it meets emerging client needs in both the public and private markets, particularly in M&A. In addition to Mr. Flynn, strategic hires include Jeffrey Symons and Brian C. Miner in the M&A and Securities Group, Gayle Klein in the Litigation Group, Gregory Ruback in the Finance and Derivatives Group, and Douglas S. Mintz in the Business Reorganization Group.
Schulte Roth & Zabel co-managing partner David Efron continued, “We are thrilled to welcome Mike to the firm. His deep private investment industry expertise is a critical component in the strategic expansion of our Investment Management and M&A and Securities practices, as we continue to partner with our clients in the growth of their businesses.”
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Alerts
On Aug. 19, 2024, the US Securities and Exchange Commission (the “SEC”) charged Obra Capital Management, LLC (“Obra Capital”) with violations of Rule 206(4)-5 under the Investment Advisers Act of 1940, otherwise known as the “Pay-to-Play Rule” (the “Rule”), arising out of a $7,150 campaign contribution made by an individual prior to joining Obra Capital.[1] This campaign contribution was made to a government official in Michigan who had influence over hiring investment advisers for the Michigan Public Employees’ Retirement Fund (the “Michigan Pension Fund”), which was an investor in a fund managed by Obra Capital (the “Obra Fund”). Notably, the Michigan Pension Fund had been an investor in the Obra Fund for several years prior to the hiring of the individual who made the contribution. And perhaps even more notably, this campaign contribution was made several months prior to the individual becoming a “Covered Associate” (as defined by the Rule[2]) of Obra Capital. By virtue of Obra Capital continuing to provide investment advisory services for compensation to the Obra Fund in which the Michigan Pension Fund was invested after hiring the individual, Obra Capital violated the Rule and agreed to pay a $95,000 fine to settle the charges.
Alerts
On Sept. 12, 2024, the Commodity Futures Trading Commission (“CFTC”) adopted amendments (“Final Rule”)[1] to CFTC Rule 4.7, which is the primary disclosure, reporting and recordkeeping relief relied upon by CFTC-registered commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”). The Final Rule only partially adopted the proposals advanced by the CFTC nearly a year ago (“Proposal”). Importantly, the CFTC has elected to double the financial thresholds required for investors to be Qualified Eligible Persons (“QEPs”) suitable to invest in a Rule 4.7 pool or fund. However, the CFTC decided not to adopt the time-consuming and detailed disclosure requirements included in the Proposal. Operators of Section 3(c)(1) pools and funds that rely on Rule 4.7 will need to adjust their documents to accommodate the new QEP financial thresholds. We do not anticipate any substantive impact on operators of Section 3(c)(7) pools and funds.
Alerts
On Aug. 19, 2024, the US Securities and Exchange Commission (the “SEC”) charged Obra Capital Management, LLC (“Obra Capital”) with violations of Rule 206(4)-5 under the Investment Advisers Act of 1940, otherwise known as the “Pay-to-Play Rule” (the “Rule”), arising out of a $7,150 campaign contribution made by an individual prior to joining Obra Capital.[1] This campaign contribution was made to a government official in Michigan who had influence over hiring investment advisers for the Michigan Public Employees’ Retirement Fund (the “Michigan Pension Fund”), which was an investor in a fund managed by Obra Capital (the “Obra Fund”). Notably, the Michigan Pension Fund had been an investor in the Obra Fund for several years prior to the hiring of the individual who made the contribution. And perhaps even more notably, this campaign contribution was made several months prior to the individual becoming a “Covered Associate” (as defined by the Rule[2]) of Obra Capital. By virtue of Obra Capital continuing to provide investment advisory services for compensation to the Obra Fund in which the Michigan Pension Fund was invested after hiring the individual, Obra Capital violated the Rule and agreed to pay a $95,000 fine to settle the charges.