Practices
Gary Anderson is a partner in the Business Transactions Group.
Gary represents private investment funds, investment management firms, financial institutions and business owners in a wide variety of investments, business transactions and general corporate matters, with a heavy focus on understanding and implementing the key business assumptions and goals of the transacting parties. Gary’s knowledge of and experience with seed investments in hedge fund managers and private equity GPs is among the most significant and well-regarded in the investment management industry, and Gary is a frequent contributor to industry media on related topics.
Additionally, Gary has a large practice representing private equity, venture capital and hedge fund investors in their portfolio investments and acquisitions, with a particular focus on the healthcare, life science and medical device industries, as well as the major technology sectors and their related verticals.
Gary also has deep experience representing buyers and sellers in stake transactions in asset management firms, particularly in transactions involving non-traditional economic relationships (e.g., revenue sharing instead of bottom-line equity) that require a fluency in the mathematical and business nuances of these structures.
Gary’s general corporate work includes the formation and organization of various business entities, including corporations, partnerships and limited liability companies, and negotiating a variety of transactional, commercial and operating agreements and arrangements, as well as succession/transition planning and implementation. Gary also specializes in structuring and negotiating special purpose investment vehicles (including for independent sponsor investments) and has a broad background in securities laws and general corporate finance matters.
Publications
Articles:
- Co-authored, “Bridge Notes and SAFEs: Key Tools for Dilution Management,” Seward & Kissel (February 12, 2024)
- Co-authored, “New Resources for Growth Equity and VC Managers,” Seward & Kissel (January 12, 2024)
- Co-authored, “‘Who Bears It,’ Part 2: Economic Arguments for Allocating Convertible Note / SAFE Dilution,” Seward & Kissel (November 22, 2023)
- Co-authored, “‘Who Bears It,’ Part 1: The Option Pool Shuffle,” Seward & Kissel (October 25, 2023)
- Co-authored, “Option Pools: The Balance Sheet’s Silent Partner,” Seward & Kissel (September 20, 2023)
- Co-authored, “Two Sides of the Same Coin: The Direct Relationship Between Valuation and Dilution in Pricing Venture and Growth Equity Deals,” Seward & Kissel (August 30, 2023)
- Co-authored, “Avoiding Hidden Dilution in Growth Equity and Venture Capital Investing,” Seward & Kissel (July 18, 2023)
- Co-authored, “Simple Cap Table Analysis,” Seward & Kissel (June 12, 2023)
- Co-authored, “2022 Seed Transactions Deal Points Study,” Seward & Kissel (June 7, 2023)
- Co-authored, “Seward & Kissel Releases Business Transactions Group 2022 Year in Review”, Seward & Kissel (February 2, 2023)
Videos:
- GP Stakes: What is the timeline from agreeing to a term sheet to a successful closing?, (May 30, 2023)
- GP Stakes: Why are GP Stakes investment funds attractive to LP’s?, (May 23, 2023)
- Wealth Management M&A: How important is product mix to the buyers in their evaluation of a wealth management firm?, (May 17, 2023)
- GP Stakes: How do the GP’s limited partners view these transactions?, (May 10, 2023)
- Wealth Management M&A: How do you send the right message to clients during the post-closing integration period?, (May 3, 2023)
- GP Stakes: How do you factor in transition planning post-transaction with the current principals and next generation partners?, (April 25, 2023)
- Wealth Management M&A: What does the landscape of buyers in the wealth management marketplace look like?, (April 19, 2023)
- GP Stakes: How are valuation gaps bridged in a transaction?, (April 12, 2023)
- Wealth Management M&A: When is the right time to engage an investment banker?,(April 5, 2023)
- GP Stakes: What are current valuation metrics used for valuing a potential GP investment?, (March 29, 2023)
- Wealth Management M&A – How to command a higher valuation? (March 22, 2023)
- GP Stakes: Preparing for Due Diligence, (March 15, 2023)
- When the deal closes – How do the acquiring firms help the target firms manage their business?, (March 8, 2023)
- What metrics are used when seeking out a candidate for a potential GP investment?, (March 1, 2023)
- Objectives of principal’s selling a stake in their firms and how various deal structures accomplish those goals, (February 22, 2023)
- Is there a focus on particular investment strategies when making the GP investments? (February 15, 2023)
- What is the landscape for wealth management M&A in the current environment?, (February 8, 2023)
- “Macro Headwinds in 2022: How has the GP Stakes industry been affected?”, (January 25, 2023)
- Seward & Kissel’s Conversation Series – 2020 Annual Seward & Kissel Seed Transaction Deal Point Study, (June 9, 2021)