Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
General Atlantic Acquires First Republic Bank
On July 1, Paul, Weiss client General Atlantic (GA) announced the completion of the acquisition of First Republic Bank, a San Francisco-based private bank and wealth management firm, from Bank of America for approximately $1.86 billion. GA co-led a group of private investors to re-establish First Republic Bank as an independent financial institution with approximately $20 billion of total banking assets, $18 billion of deposits and $16 billion of wealth management assets.
The Paul, Weiss team representing GA included corporate partners Paul Ginsberg and Tarun Stewart, associates Joel Karansky and Devon Williams; tax partners Rick Bronstein and associate Patrick Karsnitz; intellectual property counsel Claudine K. Meredith-Goujon and associate Zoe Hilden; employee benefits partner Rob Fleder, and associates Reuven Falik, Judy Hensley and Kimberly Steefel; and real estate partner Peter Fisch and associate Sena Ku.