Steven R. Rutkovsky
Steve focuses on complex leveraged finance and fund finance transactions. He represents private equity funds, credit funds, and public and private companies in a wide range of financings, including leverage buyouts, acquisitions, dividend recaps, fund subscription lines and leverage facilities, involving both syndicated and privately place debt at all levels of the capital structure. Steve is chair of the firm’s Opinion Practices Committee.
- Represented Welsh, Carson, Anderson & Stowe in obtaining financing for its acquisitions of U.S. Anesthesia Partners and U.S. Acute Care Solutions and US Radiology Specialists.
- Represented Kohlberg & Company in obtaining financing for its acquisitions of Sara Lee Frozen Bakery, CIBT Global, EN Engineering and US Retirement & Benefits Partners.
- Represented Altamont Capital Partners in obtaining financing for its acquisitions of Alamo Drafthouse Cinemas, Amplity Health, and Tacala Companies.
- Represented Aretex Capital Parnters in obtaining financing for its acquisition of Alerian.
- Represented numerous private equity fund sponsors in obtaining capital call subscription facilities, management company facilities, co-investment facilities and partner loan programs.
- Represented Dunkin’ Brands’ Inc. in obtaining financing for its $2.4 billion buyout by Bain Capital, Thomas H. Lee Partners and Carlyle Group.
- Quoted, “US investors sound alarm over projected add-backs,” Reuters (May 9, 2019)
- Quoted, “Loan Repricing Wave Has Run Its Course: Ropes & Gray’s Rutkovsky,” Bloomberg News (July 5, 2018)
- Quoted, “U.S. Loans Move Toward Wider Pricing, Tough Terms,” Global Capital (July 3, 2018)
- Quoted, “Understanding Subscription Credit Facilities: Key Concerns Raised by Investors and the SEC (Part Three of Three),” The Hedge Fund Law Report (March 15, 2018)
- Quoted, “Understanding Subscription Credit Facilities: Principal Advantages and Key Points to Negotiate in the Credit Agreement (Part Two of Three),” The Hedge Fund Law Report (March 8, 2018)
- Quoted, “Understanding Subscription Credit Facilities: Their Popularity and Usage Soar Despite Concerns Raised by Certain Members of the Private Funds Industry (Part One of Three),” The Hedge Fund Law Report (March 1, 2018)
- Quoted, “Direct Lenders Help Resuscitate Second-Lien Loan Issuance,” Private Equity Analyst (October 2016)
- Quoted, “Are Private Equity Deals in Trouble?” Bloomberg (January 27, 2016)
- Quoted, “Pro-rata volume jumps as corporate buyers take control of M&A,” Reuters (June 29, 2015)
- Steven R. Rutkovsky, “An Expert’s View: Developments in Middle Market Loan Terms,” Practical Law Journal (February 2015)
- Quoted, “TRLPC: Retailers Test Wary US Leveraged Market,” Reuters (January 30, 2015)
- Quoted, “TRLPC: Burger King markets $7.25 billion loan package for Tim Hortons buy,” Reuters (September 11, 2014)
- Quoted, “Lenders Loosen Up,” M&A Magazine (May 19, 2014)
- Quoted, “Sense of the markets: Terms tighten on middle market loans,” The Deal (April 16, 2014)
- JD, New York University School of Law, 1991; Order of the Coif
- MBA, New York University, 1991
- AB, magna cum laude, Harvard College, 1987
Admissions / Qualifications
- New York, 1992
- The Best Lawyers in America (2022)
- IFLR1000 Leading Lawyer (2015-2017), Highly Regarded (2018-2022)
- New York Super Lawyers – Metro Edition (Bankruptcy & Creditors/Debtor Rights) (2010, 2013-2017)