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Biography
Stephen's primary area of focus is representing fund clients in private mergers and acquisitions on both a national and international basis and in assisting such clients in the maintenance of their investment portfolios. Stephen's experience also includes representing  clients in acquisitions of distressed debt and in acquiring assets from sellers in bankruptcy. His experience includes representation of both acquirers and targets in a variety of business combination transactions, including negotiating asset and stock acquisitions and the formation and financing of joint venture and partnership transactions. He also has experience in international business transactions, particularly in Latin America.

Representative Experience

Fund formation matters

  • Acted as fund formation counsel to management group in connection with the formation of $125.0 million middle market opportunity fund
  • Represented billion dollar New York energy based private equity fund in connection with the formation of an offshore fund for its non-U.S. investments
  • Currently acting as fund formation counsel to a joint venture between the Getty Family and a group of former Goldman and Blackstone real estate professionals in the formation of and related private placements of equity for series of acquisition partnerships formed for the purpose of acquiring portfolios of domestic real estate assets
  • Currently acting as fund formation counsel in connection with the formation of a $75.0 million general public investment Houston based hedge fund
  • Fund formation counsel to New York based private equity fund being formed to make investments in the Dominican Republic

M&A; and investment matters

  • Represented New York based energy private equity fund in connection with a $60.0 million investment in common equity and convertible debt in a public Norwegian shipping company.  Represented same parties in a subsequent going-private transaction
  • Represented The CapStreet Group and Seaport Capital in connection with the acquisition of PAIX, a colocation and peering subsidiary of Metromedia, Inc. under Section 363 of Title 11 of the Bankruptcy Code
  • Represented Carlyle/Riverstone Global Energy & Power Fund II in its control investment in SemGroup, a pipeline and trading company and the 12th largest private company in the U.S. by gross revenue
  • Represented U.S. Marine Repair, a portfolio company of The Carlyle Group in its $300.0 million sale to United Defense, Inc.
  • Represented The Carlyle Group and Matrics, Inc., one of its venture portfolio companies in its $240.0 million sale to Symbol Technologies, Inc.
  • Ongoing day-to-day representation of the Hicks Muse - Latin American portfolio, including  advertising companies, sports teams, television networks and cable television systems throughout Latin America

Finance related matters

  • Represented New York based hedge fund's lending affiliate in a combination revolver/term mezzanine loan with a separate common stock warrant to finance the acquisition by a group of private equity funds and strategic buyers of Florida based technology company emerging from bankruptcy
  • Represented BNP Paribas in the sale of a distressed debtor's interest in a power plant in lieu of foreclosure under Section 9-610 of the UCC and the subsequent acquisition financing to the strategic buyer
  • Represented New York based captive private equity fund in connection with its provision of mezzanine financing to a National Hockey League franchise
  • Represented New York based distressed debt fund in the purchase of a subordinated debt claim against a large public utility in bankruptcy
  • Represented Connecticut based hedge fund in a dispute with a bankrupt debtor regarding its ownership of subordinated debt claims against a large public manufacturer in bankruptcy
  • Represented New York based captive private equity fund in connection with the acquisition of $100.0 million of senior subordinated notes from Level 3 in its $800.0 million debt offering

 

Results depend upon the facts of each case.
Activities and Affiliations
  • Member: Houston Bar Association; The Association for the Bar of the City of New York
Education and Professional Background
  • The University of Texas, B.A. with high honors, 1994
  • The University of Texas School of Law, J.D. with honors, 1997
  • University of Belgrano, Buenos Aires, Argentina, 1997, study of civil law
  • Admitted to practice: Texas, 1997; New York, 2002
  • Other Languages: Fluent in Spanish; proficient in German and Portuguese

Stephen S. Coats
Partner
666 Fifth Avenue
26th Floor
New York, NY 10103-0040

212.237.0119 : ph
917.849.5344 : fax
scoats@velaw.com

Practices

Industries