Smolev and Spangler Quoted in Alternative Investment News
July 2, 2009
Two Kaye Scholer lawyers were quoted in the article “European Managers Must Grab TALF Window,” which appeared in Alternative Investment News on July 2, 2009. Timothy Spangler of the Investment Funds group, and Richard Smolev, of the Business Reorganization and Creditors' Rights practice group, discussed the opportunities presented by the Term Asset-Backed Securities Loan Facility ("TALF") legislation for European fund managers. "'Investors must recognise that the $1 trillion TALF program is slotted to terminate by the end of the year and may not be extended and that they therefore must act nimbly to avail themselves of the benefits it offers,' said Richard Smolev. 'A number of our clients actively are raising funds in this space now so that they will have at least four or five months to take advantage of what TALF offers.'"
"'This is an undiscovered secret of what’s happening in the U.S.,' said Timothy Spangler, 'and we are evangelising our European client bases about the magnitude of the opportunity.'"
"There is a place at the table for European money." said Spangler. "Non-U.S. investors must conform to program guidelines, but TALF's leverage and upside potential is not reserved solely for U.S.-based investors," he added.