Schulte Roth & Zabel co-counseled AGL Credit Management LP in connection with its expansion into the private credit loan origination business.  

In a move that will give AGL an advantage over its rivals, AGL will gain access to Barclays’ investment pipeline through exclusive private credit loan origination opportunities. The deal is backed by a significant anchor investor.

AGL is an experienced corporate credit manager with a differentiated investment model and innovative approach to creating and managing corporate credit investments to maximize the investment objectives of its investors and partners.  

The Schulte team was led by partners David Nissenbaum, co-chair of the Investment Management Group, Philippe Benedict (Tax) with special counsel Christine Harlow (Tax) and associates Dylan Swanson (Investment Management) and Michael Jaroslawicz (Tax).   

AGL Credit Management LP press release: AGL Credit Management announces the launch of AGL Private Credit Platform and exclusive Cooperation Agreement with Barclays

Bloomberg article: Barclays, AGL Launch Private Credit Partnership Backed by ADIA

Bloomberg interview with Peter Gleysteen, Founder, CEO, and CIO of AGL Credit Management: Barclays, AGL Launch Private Credit Agreement

Schulte Roth & Zabel represented GoldenTree Asset Management (“GoldenTree”), an employee-owned, global asset management firm with over $54 billion in assets under management, in the closing of $1.3 billion in commitments on its third CLO strategy (“GLM III” or the “Fund”). 

GLM III, a continuation of the GoldenTree Loan Management (“GLM”) program that began in 2016, brings aggregate commitments across the entire GLM program (i.e., GLM I, II, and III) to over $2.625 billion. The GLM program was founded by GoldenTree to enhance the firm’s top-quartile track record in CLO equity.

Securing commitments of $1.3 billion from a global investor base that includes public and corporate pensions, sovereign funds, foundations, insurance companies, family offices and RIAs across the US, Europe, Asia and the Middle East, GLM III surpassed its original target of $1 billion and reached the Fund’s effective hard cap.

The Schulte team was led by partners Stephanie Breslow, co-head of Investment Management Group, Daniel Blumenthal, Craig Stein, co-head of the Finance Group, and Shlomo Twerski, co-head of the Tax Group. The team also included Investment Management associates Alex Borgen, Yehuda Ness, Hinda Korenblit and Jenna Fattah, Tax special counsel Chaim Stern and associate Yeshaya Shapira, with assistance from Finance associate Sam Shin. Finance partner Daniel Oshinsky and special counsel Farzaan Ijaz represented GLM III on fund finance matters.  

Read the press release.

Schulte Roth & Zabel represented Mill Point Capital LLC, a private equity firm focused on control-oriented investments across IT Services, Business Services and Industrials sectors in North America, in a strategic partnership with Proficium, Inc. (“Proficium”). Proficium designs and manufactures innovative products for commercial AI infrastructures, hyperscale data centers and enterprise companies. The investment looks to capitalize on the rapidly increasing demand for datacenter capacity. 

The Schulte team was led by partners Ben Kozinn, co-chair of the M&A and Securities Group, Ted Keyes, Alexander Kim, Ian Levin, Joseph Reich and Greg Ruback, with special counsel Lauren Troeller, Stephen Appel, Adam Gartner and Scott Gold. The team also included associates Abigail Castaldi, Rachel DiScuillo, Jake Gach and Lance Kodish, with law clerk Alessandra Cartolano. 

Read the press release. 

Schulte Roth & Zabel represented Commodore Capital as co-lead PIPE investor financing Avalo Therapeutics, Inc.’s acquisition of AlmataBio, Inc. and its Phase 2-ready anti-IL-1β mAb.

In connection with its acquisition of AlmataBio, Avalo issued a PIPE consisting of preferred stock and private placement warrants co-led by Commodore Capital that provides an initial upfront investment of $115.6 million and up to $185 million if all the warrants are exercised.  

Commodore Capital is a healthcare investment firm that uses a science-driven approach to invest in innovative companies developing medical products to meaningfully improve patients’ lives. Avalo Therapeutics is a clinical stage biotechnology company focused on the treatment of immune dysregulation. 

Schulte’s M&A and Securities team was led by partners David Curtiss and Michael Flynn with associate Faith Pang.