Case Studies

Hedge Fund Sells Controlling Interest to an Insurance Company

Our client, a registered investment advisor and hedge fund manager of a dozen private funds, desired to sell a controlling interest to a nationally known life insurance company while maintaining a significant portion of the equity in the advisory businesses. Tannenbaum Helpern negotiated the transaction, which involved complex M&A, employment, tax and securities regulatory components. Critical issues involved spinning off certain aspects of the business to the existing owners; ongoing governance, veto and control rights; obtaining consents from fund investors; and crafting employment retention and incentive packages for key personnel while managing the expectations and needs of a half-dozen owners of the advisory business

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