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.
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.
Day Pitney Technology Partner Richard Harris was interviewed by Brian Shactman of WTIC Radio's Brian & Company along with Adam Chiara, Applied Associate Professor of Communication at the University of Hartford on artificial intelligence (AI).
Day Pitney Real Estate Partner Daniel Diaz Leyva was featured in The Real Deal article, "'Playing with the House's Money': How Buyers, Sellers Are Closing Deals."
Day Pitney Trusts and Estates Attorney Nikolaus Schuttauf was featured in The Wall Street Journal article titled, "The Estate Tax Catching Americans by Surprise."
Day Pitney Real Estate Partner Jared Ross has been elected to the Board of Directors of the New England Council.
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in the Florida Bar News' On the Move column.
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in the Miami Today article, "Day Pitney Adds Partner."
Day Pitney Press Release
Day Pitney Regulatory Substances and Employment Law Attorney Daniel Pierre will guest lecture at Rutgers Law School's Cannabis Law and Business Certificate Program.
The arrival of new Miami Healthcare Partner Magda Rodriguez was featured in CityBiz article, "Magda Rodriguez Joins Day Pitney as a Healthcare Partner in the Firm's Healthcare Life Sciences and Technology Practice."
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