Stephen Culhane has joined Kaye Scholer’s Corporate Department as a Partner in its Fund Formation practice. He has almost 20 years experience advising sponsors of private equity, real estate, special situation and distressed investment funds, hedge funds and funds of funds with the structuring, formation and operation of such fund products. Over the course of his career, he has advised clients with respect to the formation of countless funds organized to invest in private equity, real estate and diverse trading strategies, including the largest private equity fund formed to date to invest in the People’s Republic of China. In addition to his fund formation experience, Culhane has extensive experience representing institutional investors in private funds as well as buyers and sellers of secondary interests in private equity portfolios.

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Shearman & Sterling represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as lead arrangers and bookrunners in connection with a $1 billion 364-day credit facility for Stanley Black & Decker, Inc.

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Davis Polk advised NBCUniversal Media, LLC in connection with its acquisition of the 50% share of the MSNBC Digital Network joint venture that it did not previously own from Microsoft Corporation.

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Milbank, Tweed, Hadley & McCloy, LLP represented Catalyst in the transaction. Catalyst and SXC are pharmacy benefits managers that contract with drug companies and pharmacies to dispense medicine and process claims. The combined company, which was rendered Catamaran Corp., is the forth largest pharmacy benefits management company in the United States with approximately $13 billion in annual revenue and 25 million covered members, responsible for more than 200 million prescriptions written each year.

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