Kerry Berchem

Akin Gump Strauss Hauer & Feld LLP

$ $$$

New York 10036 NY US

Kerry E. Berchem is outside general counsel and strategic advisor to public companies. Clients rely on her judgment and business acumen to manage risk, solve problems and create value.Kerry has a long history of helping companies that have emerged from a bankruptcy or out-of-court restructuring establish their governance programs, structure their financing and execute their business strategies.

She is a market leader in tax-driven transactions involving net operating losses (NOL). She has helped postrestructured companies in the financial services, reinsurance, manufacturing and other industries leverage their tax positions and execute multibillion-dollar transactions. She has structured several NOL-driven deals that have been replicated in the market.Kerry has particular experience in the reinsurance sector.

She has advised on the formation, capitalization, and sale of Cayman and Bermuda-based hedge fund-sponsored reinsurers, and has served as outside general counsel to Greenlight Capital Re, Ltd. (NASDAQ:GLRE); WMIH Corp. (NASDAQ:WMIH); and Alterra Capital Holdings (NASDAQ:ALTE), among others.

She advises on:

  • Corporate governance and securities compliance
  • M&A
  • Postrestructured company matters
  • Tax-driven transactions.

She is a member of Akin Gump’s management committee and is the former chair of its corporate practice and audit committee.

Experience:

  • Go-to advisor to postrestructured companies and on tax-driven transactions.
  • Trusted advisor to boards of directors and C-suites.
  • More than 25 years of merger and acquisition (M&A), securities and governance experience.

Representative Work:

  • Represents Bluestem Brands, the parent company to 13 e-commerce retail brands, including Fingerhut, in all of its corporate governance, finance and trade matters. Kerry’s representation of the company began with her work for Capmark Financial Group Inc., a holding company with a valuable NOL whose businesses included Bluestem, in Capmark’s $410 million acquisition of Orchard Brands Corporation.
  • Acts as outside general counsel to WMIH Corp. (NASDAQ:WMIH), which holds the legacy reinsurance business of Washington Mutual Inc. and has roughly $6 billion of federal NOL carryforwards that are not subject to any annual use limitation, as well as approximately $600 million in cash and cash equivalents. WMIH has been focused on an accretive acquisition in the financial institutions sector. Akin Gump has advised the company with regard to numerous financings and offerings, including a strategic investment in the company by subsidiaries of KKR & Co. L.P. Kerry recently advised WMIH in its $3.8 billion merger with Nationstar Mortgage Holdings Inc., owner of the Mr. Cooper mortgage servicing platform.
  • Serves as outside general counsel to Greenlight Capital Re, Ltd. (NASDAQ:GLRE), a Cayman Island reinsurance company, since its inception in 2004. She has represented the company in connection with its formation, its initial $250 million capitalization, and its $212 million initial public offering and concurrent $50 million private placement, and advises the company and its board with respect to all of its securities filings and ongoing compliance, financings and various governance issues.
  • Acts as outside general counsel to U.S. Concrete, Inc. (NASDAQ:USCR), a leading producer of ready-mixed concrete and aggregate products, since 2012. Kerry leads a team that has helped U.S. Concrete execute upon a buy-and-build strategy to accelerate the company’s growth, operations and geographic scope following its 2010 emergence from bankruptcy. This has included more than 10 strategic M&A transactions throughout the United States.

Affiliations:

  • Active participant in the National Charity League, a not-for-profit organization of mothers and daughters that is intended to foster community responsibility through participation in philanthropic work, educational activities and cultural events.
  • Member, Fairfield Connecticut Representative Town Meeting.

Education:

  • J.D., Tulane University Law School, cum laude, 1991
  • B.A., Yale University, 1988

Bar Admissions:

  • Connecticut
  • New York

Cost

Rate : $$$$

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