Shearman & Sterling represented the independent directors of StoneCastle Financial Corp., a NYSE-listed closed-end investment company (the company), in connection with ArrowMark Partners’ acquisition of StoneCastle Asset Management, LLC, the investment adviser to the company.

As a closing condition of the transaction, stockholders at a special meeting approved a new investment management agreement between the company and StoneCastle-ArrowMark Asset Management, a subsidiary of ArrowMark, and elected eight directors, constituting the entire board of directors of the company.

The Team