Dechert Advises Stifel on Acquisition of US$1 Billion+ in Assets Under Management From Spring Mountain Capital

Dechert is advising Stifel Financial Corp. (NYSE:SF), a financial services holding company, on an agreement for certain Stifel affiliates to acquire more than US$1 billion in assets under management from Spring Mountain Capital, a private investment management firm focused on alternative asset investing. Key investment professionals of Spring Mountain will remain actively involved in managing these assets when they join Stifel, including Launny Steffens, who will join Stifel as Vice Chairman of Asset Management. The transaction is expected to close later this year, subject to customary conditions.

The core Dechert team advising Stifel includes corporate partners Ken Young and Steve Pratt and associates John Stanley, Ji Hong Park and Steven Polyakov. The broader team includes corporate partner Ross A. MacConnell and associate Mary Kate Alexandre; financial services partners Corey F. Rose and Michael W. McGrath with associates Lindsay R. Grossman, Grace Park and Michael Murphy; employee benefits partners Kevin Kay and Steven W. Rabitz with associate Tabitha Crosier; tax partner Joshua Milgrim and associate Ishani Kundu; labor partner J. Ian Downes and associate Julia Canzoneri; intellectual property partner Joshua H. Rawson and associate Frank I. Hwang; antitrust counsel Beverly J. Ang; and cyber, privacy and AI partner Brenda R. Sharton, senior counsel Timothy C. Blank and associate James Smith.

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