{"id":5963,"date":"2007-04-20T00:00:00","date_gmt":"2007-04-20T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-activism-creates-new-wealth-for-law-firms","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2007\/hedge-funds-activism-creates-new-wealth-for-law-firms.html","title":{"rendered":"Hedge Fund  Activism Creates New Wealth for Law Firms"},"content":{"rendered":"<p>  For corporate lawyers of a certain age, it seems like the 1980s all over again.<\/p>\n<p>  Proxy fights, once the exclusive domain of investors like <a title=\"More articles about Carl C. Icahn.\" href=  \"http:\/\/topics.nytimes.com\/top\/reference\/timestopics\/people\/i\/carl_c_icahn\/index.html?inline=nyt-per\">Carl C. Icahn<\/a>, are on the rise. The primary cause is easy to spot: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThe resurgence of  shareholder activism is a direct result of the growth of hedge funds,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d said Marc Weingarten, a partner at Schulte Roth &amp; Zabel.<\/p>\n<p>  And the re-emergence of proxy fights is a reason that mergers-and-acquisitions lawyers, along with longtime fund-formation lawyers, are redefining the hedge fund practice.<\/p>\n<p>  The result is a boon both to law firms that originally advised hedge funds, like Schulte Roth; Akin Gump Strauss Hauer &amp; Feld; and Seward &amp; Kissel, as well as to those with more traditional  corporate finance practices, like Skadden, Arps, Slate, Meagher &amp; Flom; Sidley Austin; Sullivan &amp; Cromwell; and Willkie Farr &amp; Gallagher, among others.<\/p>\n<p>  \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cIn the early days, the legal representation of hedge funds was all about organizational documentation, getting the private placement memo prepared and getting the offering done,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d said Kenneth M.  Raisler of Sullivan &amp; Cromwell. That business, he said, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cdidn\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t suit\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d his firm\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s lawyers, better known for their mergers-and-acquisitions skills, because it was a \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201crelatively commoditized  business with low margins.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n<p><strong><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/1-0&amp;fd=R&amp;url=http:\/\/www.nytimes.com\/2007\/04\/20\/business\/20hedge.html%3Fref%3Dbusiness&amp;cid=1115552279&amp;ei=2rYoRt7sDp3M0AHg_8Ev\">ReadComplete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For corporate lawyers of a certain age, it seems like the 1980s all over again. Proxy fights, once the exclusive domain of investors like Carl C. Icahn, are on the rise. The primary cause is easy to spot: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThe resurgence [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5963","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5963"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5963\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}