In November 2020, Day Pitney represented PRCE Management LLC in connection with the formation and offering of up to $150 million worth of unsecured 3.00% variable appreciation promissory notes of Ocean Capital LLC, a Puerto Rican limited liability company and private investment fund which invests in a family of Puerto Rico registered investment companies (the PR Funds).
The Day Pitney team, consisting of Peter Bilfield, Erik Bergman and Lydia Lee, advised the client on the preparation and negotiation of the form of promissory note, note purchase agreement, subscription agreement and private placement memorandum, as well as negotiating the terms of side letters and other agreements with investors. In addition, in February 2021, the Day Pitney team, along with the addition of Eliza Fromberg, advised the client on a parallel private tender offer with third party shareholders of the PR Funds. In connection with the tender offer, the Day Pitney team working in conjunction with the information agent and depositary agent, provided U.S. securities advice to the client on the tender offer and was responsible for the preparation of the offer to purchase (including supplements), form of securities transfer agreement, and letter of transmittal, as well as the drafting of advertising material published in Puerto Rico.
The arrival of Corporate Partner Elizabeth Yoo to the firm's New Jersey office was featured in the Bloomberg Law article "Day Pitney Grows New Jersey Office with Corporate Partner."
In November 2023, Day Pitney represented an asset management firm based in Darien, CT, in connection with the formation of a private credit fund formed solely to make a multi-million dollar mortgage loan for the re-development and expansion of a brownstone located in New York, NY, the negotiation of an investment by affiliated private funds of a Rowayton, CT based investment manager, in the private credit fund, and the negotiation and closing of the mortgage loan.
In October 2023, Day Pitney represented a state pension system client in connection with a $200 million investment in a $20 billion private equity fund, and its accompanying co-investment vehicle, focused on acquiring, operating and disposing of financing, software, data and technology-enabled businesses.
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In May 2023, Day Pitney represented a state pension fund in connection with a $1 billion investment in an open-ended "fund of one" formed by an asset management company focused on acquiring below investment-grade broadly syndicated loans through an intermediate bankruptcy remote holding company.
Day Pitney's annual Palm Beach Family Office Forum was featured in The Florida Bar News article, "Day Pitney Hosts 2023 Palm Beach Family Office Forum."
In February 2023, Day Pitney represented a Singapore-based investment management firm in connection with the formation of an ERISA “hardwired” master-feeder fund structure focused on investing primarily in the Australian resources sector using a long/short investment approach.
In April 2022, Day Pitney represented a Singapore-based investment management firm in connection with the formation of an ERISA "hardwired" master-feeder fund structure focused on investing primarily in Asian healthcare companies.
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