Skip to Main Content

Insights

News

March 25, 2022

Day Pitney Represents Iridian in Management Buyout

In March 2022, Day Pitney completed a transaction in which it represented Iridian Asset Management LLC, an asset management firm based in Westport, CT and its management team (collectively "Iridian"), in connection with the "management buyout" of its founding partners and the firm's asset management business. The Day Pitney team included Investment Management and Private Funds attorneys, along with members of the firm's Mergers and Acquisitions group, consisting of Peter Bilfield, Erik Bergman, Mike Cummings, Paty Durelli, Matthew Carey, and Kimberly Morabito, and was supported by Steve Ziobrowski (Tax), Dan Schwartz (Employment), Mike Byrne (Real Estate), Eliza Fromberg (Broker-Dealer) and Michael Kaufman (Finance).

The team negotiated on behalf of Iridian, all transaction documents, including a term sheet, transaction agreement, various financing and security documents, separation agreements for employees and a portfolio manager and new employment agreements. The Day Pitney tax team assisted with structuring and tax advice in connection with the sale transaction as well as the recapitalization of the client and its affiliate.

The Day Pitney Investment Management and Private Funds team also structured and drafted the terms of new governing agreements for the client, including the development of an executive committee and other management terms, as well as various transfer and sale provisions among the members.

Related Practices and Industries

Contacts

Erik A. Bergman
Partner
Stamford, CT
| (203) 977-7344
Peter J. Bilfield
Partner
Stamford, CT
| (203) 977-7569
New York, NY
| (212) 297-5853
Michael P. Byrne
Partner
Stamford, CT
| (203) 977-7349
Patricia J. Durelli
Partner
Hartford, CT
| (860) 275-0494
Eliza S. Fromberg
Partner
New York, NY
| (212) 297-5847
Michael W. Kaufman
Partner
Stamford, CT
| (203) 977-7421
New York, NY
| (212) 297-2470
Daniel L. Schwartz
Partner
Stamford, CT
| (203) 977-7536
New York, NY
| (212) 297-5800
Stephen Ziobrowski
Partner
Boston, MA
| (617) 345-4648

Explore Day Pitney's latest media mentions and speaking appearances.

Press Contact

Elyse Blazey Gentile
Director of Communications

EMAIL DISCLAIMER

Thank you for your interest in contacting us by email.

Your e-mail to this individual should not contain any confidential information and should be for general information purposes only. An attorney-client relationship will not be created by your e-mail to this individual. Information in your e-mail may not be entitled to any protections commonly associated with communications with attorneys. If you are in doubt about any information, please exclude it.

If you accept the terms of this notice and would like to send an email, click on the "I Agree" button below. Otherwise, please click "I Don't Agree".