Golden Gate Capital Affiliate Completes Merger With Nassau Financial

Paul, Weiss advised Golden Gate Capital and its affiliate Angel Island Capital Management, LLC (AIC) in AIC’s merger with Nassau Financial Group, L.P. Under the terms of the transaction, AIC became a subsidiary of Nassau’s asset management segment, Nassau Asset Management LLC. As part of the sale of AIC, Golden Gate retained economic exposure to specified legacy swap positions held by AIC entities via a back-to-back total return swap with Nassau.

Founded by Golden Gate Capital in 2008, AIC is a specialty credit investment firm that currently manages $3.6 billion in assets including its balance sheet capital of approximately $300 million. AIC will complement Nassau’s existing asset management businesses, adding new credit capabilities to its suite of specialty finance strategies.

The Paul, Weiss team included corporate partners Jeremy Veit, Manuel Frey, Victoria Forrester and David Tarr.