Our Private Equity Group provides trusted counsel derived from deep industry knowledge to established as well as up-and-coming private equity firms. We represent firms of every size across the spectrum of investment strategies, and we build long-standing relationships with our clients. As active participants in the private equity industry, we are able to advise our clients on the latest innovations, as well as current market practices and trends.
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.