Day Pitney represented AlphaCrest Capital Management LLC (AlphaCrest), a quantitative research and technology-driven systematic trading firm based in New York, in connection with (i) the acquisition of a minority ownership interest in AlphaCrest by Brummer & Partners, an alternative investment manager based in Sweden and (ii) an investment by Brummer's BMS Multi-Strategy fund of funds in AlphaCrest Offshore Strategies Fund Ltd., an affiliated offshore feeder fund of the investment manager.
The Day Pitney Investment Management and Private Funds team consisted of Peter Bilfield, Greg Kahn, Mike Cummings and Jeff Kole, along with Steve Ziobrowski on tax matters, Michael Kaufman on finance matters, Cathy O'Connor on intellectual property matters, Howard Fetner on employment matters, and Darren Wallace and Ed Krzanowski on transfer/succession planning matters. Day Pitney also worked on real estate matters. The team negotiated and drafted the terms of all transaction and ancillary agreements, including a strategic relationship agreement, securities purchase agreement, ancillary fund administration and risk parameter documents. The team also negotiated and drafted the terms of the limited liability company agreements of the investment manager and its affiliated general partner, AlphaCrest SA GP LLC, which included advice on succession and transfer tax planning issues. Day Pitney also provided tax and structuring advice for a financing arrangement between Brummer and AlphaCrest in connection with a purchase/sale transaction and negotiated and drafted the terms of the financing arrangements. The team also registered AlphaCrest with the SEC as an investment adviser and worked closely with Swedish counsel on regulatory issues as well as Cayman Islands counsel on compliance with corporate governance issues related to the Cayman Islands feeder fund and master fund and compliance with new Cayman Islands anti-money laundering rules.
Day Pitney Real Estate Partner Steven J. Wernick is featured in the South Florida Business Journal article "28-Story Tower With Over 100 Apartments Planned in Miami."
Day Pitney Real Estate, Environmental and Land Use practice co-chair Craig Gianetti was featured in Gothamist article "Court Tells Wealthy NJ Town: We'll Decide Where You'll Put Affordable Housing."
Day Pitney Press Release
Day Pitney Real Estate, Environmental and Land Use Partner Steven Wernick is featured in the Miami Herald article "The End of Single-Family-Only Home Suburbs? Miami-Dade Zoning Rule Impact Could Be 'Sweeping'."
Day Pitney Real Estate Partners Nicole Magdziak and Thomas Malman represented firm client Kushner, a real estate development and management firm headquartered in New York City, on a multimillion dollar mixed use residential and retail development in the Long Branch, NJ’s Lower Broadway redevelopment zone.
Day Pitney Real Estate, Environmental and Land Use practice co-chair Craig Gianetti was featured in Law360 article "NJ Bill Paves An Aggressive Affordable-Housing Path."
Day Pitney Real Estate, Environmental and Land Use Counsel Joseph A. Ruiz was featured in the South Florida Business Journal article "Local Distillery Proposes Location in Miami-Dade Warehouse."
Day Pitney Alert
Day Pitney Alert
Copyright © 2024 Day Pitney LLP, all rights reserved.