Schulte Roth & Zabel LLP at a Glance

Uppers

  • “Unique work”
  • “Supportive environment”
  • “Laid back lifestyle”

Downers

  • “Hours requirement”
  • “Lack of promotion opportunities”
  • “Formal training needs to be improved”

The Buzz

  • “Great summer program”
  • “Best firm for hedge funds”
  • “Abrasive”
  • “Unpleasantly aggressive”

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, smartly, tried to diversify its offerings over the years in order to ride out the inevitable bumps in the economy.

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 real estate, M&A and-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 ranging from GMAC to the Quigley Company Inc., 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 employment, IP 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. In spring 2007, Cerberus, in what hindsight proved was an ill-fated move, acquired roughly 80 percent of Chrysler. The deal was immense and complex, and like many of the other huge deals the firm runs, created work for nearly every practice group under Schulte's roof(s). Three years later, the firm was called upon to aid Cerberus in the sale of Chrysler.

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
High-Stakes Deals

Schulte has advised on some of the industry's most sophisticated deals. Most recently, the lawyers advised Albertsons and an investor group's $9.2-billion acquisition of Safeway; Veritas Capital and its affiliate Truven Holding in IBM Watson Health's $2.6-billion acquisition of Truven Health Analytics; Oxford Properties Group in the closing of over $5 billion in financing for flagship office tower 30 Hudson Yards and the 650,000-square-foot Shops and Restaurants at Hudson Yards, a $15-billion project; and a joint venture of Invesco Real Estate; and Monday Properties Investments on the $1.2-billion sale of 230 Park Avenue, the Helmsley Building, to RXR Realty.

Forming Funds

Schulte advised on numerous fund launches for the most influential hedge and private equity funds. For the past six years, the firm has been ranked as the #1 legal service provider for hedge funds based on AUM in the annual Market Microstructure Hedge Fund Industry Report. Schulte was also ranked #1 among "Top Law Firms: On Shore" at the Institutional Investor 2016 Alpha Awards and named among the "Leading Law Firms in Fund Formation" in Preqin's Global Private Equity & Venture Capital Report. Schulte is the only law firm ranked in Band 1 for Investment Funds: Hedge Funds in the Chambers Global, U.K. and U.S. Nationwide guides.

Lateral Movement

In the past year, Schulte announced a major expansion with the addition of a group of leading broker-dealer attorneys from Bracewell. A total of 10 highly-skilled attorneys joined the firm's Broker-Dealer Regulatory & Enforcement Group, including partners Julian Rainero, Craig S. Warkol and Douglas I. Koff. The firm also welcomed leading structured finance partners Boris Ziser and Thomas R. Weinberger from Stroock & Stroock; M&A partner Michael Gilligan from Hogan Lovells; and regulated funds partner John J. Mahon from Sutherland Asbill. Most recently, the firm added a group of finance lawyers from Paul Hastings, including well-known finance partners Michael E. Michetti and Joel M. Simon.

January 2016
Shareholder Activists

Schulte's renowned shareholder activism practice continues to make headlines. In the January 2016 issue of FactSet's Flashwire U.S. Monthly, the firm was listed as a "Top Law Firm to Activists," based on total campaigns. Recent notable matters include the representation of: Altimeter Capital Management in connection with its investment in United Continental Holdings, the holding company whose primary subsidiary is United Airlines; Trian Fund Management's successful shareholder activist campaign at Sysco Corporation; SRS Investment Management in obtaining board representation at Avis Budget Group; and JANA Partners' successful shareholder activist campaign that led to PetSmart Inc.'s $8.7-billion sale to a private equity buyer.

November 2015
White Collar Defenders

Well known for representing clients in high-profile white collar cases and government investigations, Schulte was recognized as a leading law firm for "Non-IP Litigation & Enforcement: Government Investigation/Fraud & Abuse" by LMG Life Sciences. Recent matters include the defense of former government officials and senior executives of leading financial institutions. Of note, Schulte represented a Washington, D.C.-area surgeon who had been indicted by a federal grand jury on 60 counts of health care fraud, aggravated identity theft, and obstruction of justice. During a five-week trial, the judge dismissed the identity theft charges and the government voluntarily dismissed other fraud counts. In November 2015, the jury found the surgeon not guilty on all 41 of the remaining charges.

October 2015
A Firm Commitment to Pro Bono

The New York Law Journal selected Schulte to receive the 2015 Lawyers Who Lead by Example Award for the firm's pro bono work, alongside the NYCLU Foundation, on the historic settlement of Hurrell-Harring v. New York, in which the State of New York agreed to overhaul the public defense system. Schulte was also named one of the top 10 leading law firms for pro bono by the Who's Who Legal 2015. In addition, longtime pro bono client The Opportunity Agenda presented Schulte and the firm's Special Counsel for Pro Bono Initiatives with the 2015 Creative Change Award, recognizing them as "Dream Defenders."

- Show Less + Show Full Description

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 and Taleah E. Jennings
  • Total No. Attorneys 2016: 360

  • Base Salary

    All offices
    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
    35 out of 35 (2Ls) (2015)

  • Major Departments & Practices

    Bank Regulatory
    Broker Dealer Regulatory & Enforcement
    Business Reorganization
    Employment & Employee Benefits
    Environmental
    Finance
    Individual Client Services
    Intellectual Property, Sourcing & Technology
    Investment Management
    Litigation
    Mergers & Acquisitions and Securities
    Real Estate
    Regulatory & Compliance
    Structured Finance & Derivatives
    Tax

Major Office Locations

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