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Rating:Security Benefit Lawyers Spotlight Themselves Not Rated 3.2 Email Routing List Email & Route  Print Print
Friday, June 29, 2007

Security Benefit Lawyers Spotlight Themselves

News summary by MFWire's editors

The stereotype for lawyers is that they are shy, retiring types. When Security Benefit announced yesterday morning that it will buy Rydex Investments, it did not mention who it's legal adviser is. But now we know who's imparting legal advice to the company, thanks to the lawyers themselves. Hours after the Security Benefit-Rydex deal became public, New York law firm Debevoise & Plimpton put out a press release, saying it is advising Security Benefit on the deal.

Debevoise & Plimpton LLP is advising Security Benefit in its definitive purchase agreement to acquire Rydex Investments. The combined organization is expected to represent roughly $35 billion in assets under management, and $52 billion of assets under administration at closing.

Security Benefit, through its subsidiaries, has just under $20 billion in assets under management and provides individual and employer-based retirement programs as well as institutional investors with a diverse array of investment options. Rydex Investments manages nearly $15 billion in assets via more than 80 mutual funds, exchange traded products and institutional products. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.

The Debevoise team is led by partner Robert F. Quaintance, Jr. and includes partners Kenneth J. Berman, Andrew N. Berg, Lawrence K. Cagney, counsel Alicia C. McCarthy and associates Jeffrey E. Ross, Ilana Blass, Michelle Koch, Adam S. Reuben, Amanda M. Roberts and Molly F. Stockley.  

Edited by: Erin Kello

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