Gallatin Point Capital of the U.S. makes USD150m investment in Israel Discount Bank of New York
Gallatin Point Capital LLC has completed a USD150 million acquisition of approximately 15% of the equity of Israel Discount Bank of New York (IDBNY).
IDBNY, the largest Israeli-owned bank operating abroad, is a commercial bank providing a comprehensive range of banking services. It focuses on three primary areas: commercial banking, local private banking and international private banking, operating through branches in New York, Florida and California.
The New York and Washington DC offices of Davis Polk advised on the transaction, with the M&A team including partners Harold Birnbaum and Eric McLaughlin, counsel Kris D. Desrosiers and associates Kendall Howell, Steven Jaffe, Jeff Wu and Caitlin Hutchinson Maddox. Partner Veronica M. Wissel provided executive compensation advice, with partner Frank J. Azzopardi providing intellectual property advice and partner Ethan R. Goldman offering tax advice.
