Schulte Roth & Zabel LLP at a Glance

Uppers

  • “The culture is the best”
  • “Challenging work”
  • “Compensation”

Downers

  • “Few women partners”
  • “Path to partnership is almost non-existent”
  • “Unpredictable hours”

About Schulte Roth & Zabel LLP

Schulte Roth & Zabel LLP has defined itself as the go-to firm for hedge funds, and their ilk. While this practice focus translates into double-digit profits and aggressive growth during boom years, the firm has grown organically over the years.

Hedging Their Niche

Founded in 1969 by a small group of attorneys who wanted to escape the traditional BigLaw model, Schulte Roth & Zabel primarily advises clients in the financial services industry, with a particular emphasis on representing investment management firms. Relatively narrow in practice scope by BigLaw standards, Schulte trains its focus on investment management, corporate and transactional matters, and securities litigation-most notably-providing a one-stop shop for all the legal needs of hedge and private equity funds (of which it has counted hundreds as clients over the years). 

With clientele including leading investment firms like Blackstone and Centerbridge., Schulte made strides toward growing both its client roster and practice coverage prior to the onset of the global economic crisis, which so sharply curbed transactional and financing work. In fact, the firm has enjoyed quite a bit of success in its regulatory & compliance, shareholder activism and litigation practice areas. But make no mistake-the corporate and securities work still drives the firm, which is evident from the many investment banks, hedge and private equity funds, banks, broker-dealers, investment advisers, venture capitalists and pension funds the firm counts among its clients.

Financial Services Focus

Both Schulte's New York headquarters and its comparatively new (opened in 2002) London office have been recognized for their investment management work. Schulte represents a high percentage of the brand names of the fund industry, including private equity firm Cerberus-a client since 1990. A large percentage of Schulte attorneys specialize in catering to hedge funds and other investment managers. The U.K. office came to be largely due to a sharp uptick in European hedge fund activity, and more recently, the DC office was established to provide litigation and securities regulatory capability.

Focus on Service

The firm, like most, touts its commitment to pro bono work, and Schulte can certainly back up its claims. It was the first firm to place its summer associates in one-week internships with area public interest organizations and has a special counsel dedicated to overseeing its pro bono efforts. Its attorneys average over 65 hours of pro bono activity per year, and the hours spent count toward the annual billable hours requirement.

IN THE NEWS

Ongoing
Wheeling and Dealing

SRZ regularly tackles some of the most complicated deals for leading financial service companies. Most recently, the lawyers advised: Marlin Equity Partners in its acquisition of Tangoe, one of the leading telecom expense management companies; Albertsons and an investor group's $9.2-billion acquisition of Safeway; Keane Group in connection with its IPO and listing on the New York Stock Exchange; Albert Fried in its sale to TD Securities; and Oxford Properties Group in connection with all aspects of its interest in Hudson Yards-a $15-billion project on a 26-acre site on New York City's West Side.

Shareholder Activism

SRZ's renowned shareholder activism practice continues to make headlines. Recent notable matters include the representation of: JANA Partners in its campaigns at Tiffany & Co. and Bristol-Myers; Greenlight Capital in its campaign at General Motors; venBio Select Advisor in its campaign at Immunomedics; and Elliott Management its campaigns at Marathon Petroleum and PulteGroup, one of America's largest homebuilding companies; and Trian Fund Management's successful shareholder activist campaign at Sysco Corporation, among many others.

Full Court Press

SRZ achieved a series of significant litigation victories. Most recently, SRZ represented London-based interdealer broker Tullett Prebon plc in securing the dismissal of two Libor cases accusing Tullett. SRZ also advised 170 former partners of Dewey LeBoeuf in a victory in a major lawsuit brought by a past landlord for over $200 million. In addition, SRZ advised Black Diamond and Spectrum in a litigation against Yucaipa Cos. regarding their investment in Allied Systems Holdings. On Sept. 2, 2016, finding there was "no plausible basis" for Yucaipa's claims against the three, the U.S. District Court in Delaware dismissed the $175-million lawsuit against SRZ's clients.

Picking Off and Promoting Partners

SRZ continued to attract leading lawyers, including shareholder activism partner Aneliya S. Crawford from Olshan Frome Wolosky, M&A partner Michael E. Gilligan from Hogan Lovells, finance partners Michael E. Michetti and Joel M. Simon from Paul Hastings and another M&A partner Claudia K. Simon, also from Paul Hastings. In January 2017, the firm elected to the partnership Antonio L. Diaz-Albertini, Seth R. Henslovitz, Seetha Ramachandran, and Ji Hye You.

April 2017
From NYC to Haiti

Building on its long history as a leader in pro bono services, SRZ continued its partnership with the NYCLU Foundation in the indigent defense case Hurrell-Harring v. New York. The settlement agreement affected five New York counties, and in April 2017, the governor signed into law legislation extending the benefits of the case to the entire state, including New York City. In addition, SRZ is partnering with Human Rights First on the Russian government's attempt to restrict access to technology and the firm is partnering with the Institute for Justice and Democracy in Haiti in researching ethical issues and immunity questions for its groundbreaking lawsuit against the United Nations for its health workers bringing cholera to Haiti.

January 2017
And We'll Have Funds Funds Funds…

Having advised private funds for nearly 50 years, SRZ hosted its 26th Annual Private Investment Funds Seminar, the industry's premier event. SRZ also continued to provide counsel on numerous billion-dollar-plus fund launches for the most influential hedge and private equity funds. SRZ was named the "Leading Global Law Firm" at The Hedge Fund Journal Awards 2017 and the "Best Onshore Law Firm" at the 2016 HFM US Hedge Fund Services Awards. Furthermore, the firm was once again ranked as the No. 1 legal service provider for hedge funds based on AUM in the annual Market Microstructure Hedge Fund Industry Report.

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Schulte Roth & Zabel LLP

919 Third Avenue
New York, NY 10022
Phone: (212) 756-2000

Stats

  • Employer Type: Private
  • Executive Committee Chair: Alan S. Waldenberg
  • Hiring Partners: William H. Gussman, Jason S. Kaplan, & Taleah E. Jennings
  • Total No. Attorneys 2017: 360

  • Base Salary

    1st year: $180,000
    2nd year: $190,000
    3rd year: $210,000
    4th year: $235,000
    5th year: $260,000
    6th year: $280,000
    7th year: $300,000
    8th year: $315,000
    9th year: $325,000
    Summer associate: $3,462/week


  • Summer Associate Offers
    38 out of 38 (2Ls) (2016)

  • Major Departments & Practices

    Bank Regulatory • Bankruptcy & Creditors' Rights Litigation • Business Reorganization • Complex Commercial Litigation • Cybersecurity • Distressed Debt & Claims Trading • Distressed Investing • Education Law • Employment & Employee Benefits; Energy • Environmental • Finance • Financial Institutions • Hedge Funds • Individual Client Services • Insurance • Intellectual Property, Sourcing & Technology • Investment Management • Litigation • Mergers & Acquisitions • Pipes • Private Equity; Real Estate • Real Estate Capital Markets & Reits • Real Estate Litigation • Regulated Funds • Regulatory & Compliance • Securities & Capital Markets • Securities Enforcement • Securities Litigation • Securitization • Shareholder Activism • Structured Finance & Derivatives • Tax • White Collar Defense & Government Investigations

Major Office Locations

  • New York, NY (HQ) • Washington, DC London