SNR Denton leads as JP Morgan takes majority stake in $6bn Brazil hedge fund
SNR Denton has won a lead role on a major South American deal which has seen JP Morgan step up its commitment to emerging markets by taking a majority stake in a $6bn (£4bn) Brazilian hedge fund. Highbridge Capital Management, an asset management firm owned by JP Morgan, yesterday (27 October) announced the purchase of a 55% stake in hedge fund and private equity firm Gavea, which is headed up by Brazil's former central bank chief, Arminio Fraga.
October 28, 2010 at 07:11 AM
2 minute read
SNR Denton has won a lead role on a major South American deal which has seen JP Morgan step up its commitment to emerging markets by taking a majority stake in a $6bn (£4bn) Brazilian hedge fund.
Highbridge Capital Management, an asset management firm owned by JP Morgan, yesterday (27 October) announced the purchase of a 55% stake in hedge fund and private equity firm Gavea, which is headed up by Brazil's former central bank chief, Arminio Fraga.
SNR Denton advised both Gavea and Fraga on the transaction, while JP Morgan instructed US firm Cahill Gordon & Reindel.
The SNR Denton team comprised partners from its New York and Washington DC offices and was led by US tax practice chair Marc Teitelbaum and US corporate practice chair Paul Gajer. The team also included employment partner Michael Maryn and corporate partner Ron Sitton.
Meanwhile, Cahill Gordon floated a team led by New York corporate finance partner Michael Sherman.
The complex transaction – reportedly worth around $800m (£504m) – involved US and Brazilian financial regulatory, tax and corporate issues.
Brazilian law firms acting on the deal included Pinheiro Neto on the buyer side and Barbosa Muessnich & Aragao for Gavea.
The deal has taken almost a year to conclude, with the team of lawyers from Sonnenschein Nath & Rosenthal instructed on the deal prior to its merger with UK firm Denton Wilde Sapte, which formed transatlantic law firm SNR Denton on 30 September this year.
For more, see Second acts: Dentons-Sonnenschein tie-up offers a chance for reinvention
- Click here to view an interview with partners at two major Brazilian firms about the recent influx of international law firms to the country.
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