Ackneil M. (Trey) Muldrow, III is a partner in Akin Gump’s Corporate Department. His practice focuses on merger and acquisition transactions and corporate governance counseling. Mr. Muldrow serves on Akin Gump’s Corporate Department Steering Committee and leads the New York office Diversity Committee. Mr. Muldrow is identified as a leading lawyer in middle-market M&A by Legal 500 US (2017).

Practice & Background

Mr. Muldrow draws upon over two decades of legal experience when sharing legal advice with clients in complex domestic and international transactions. Mr. Muldrow’s transactional experience includes mergers, acquisitions, divestitures, joint ventures and control investments across a variety of industry sectors. Mr. Muldrow’s clients have included a broad range of corporations and financial sponsors, including private equity and hedge funds and sovereign and fundless sponsors. In addition to his transactional matters, Mr. Muldrow is frequently called upon to advise senior executives and boards of directors of private and exchange listed companies on sophisticated corporate governance matters as well as with respect to compliance with the federal securities laws.

Mr. Muldrow is a frequent speaker on issues and trends in the M&A market and with respect to private equity transactions, serving as a frequent speaker with the Practising Law Institute, National Association of Corporate Directors and the New York City Bar.  Mr. Muldrow has served on the Corporation Law Committee of the New York City Bar Association for multiple terms.

Representative Matters

Asset Manager Transactions

  • Pharmakon Advisors, an affiliate of Royalty Pharma, in its fund restructuring and initial public offering of BioPharma Credit PLC
  • Duff & Phelps as financial advisor to EISER Global Infrastructure Fund in its asset disposition to 3i Group plc
  • ICG Strategic Equity in its acquisition of the certain assets of Third Avenue Credit Fund
  • ICG Strategic Equity in its acquisition and recapitalization of Quadriga Private Equity Fund
  • ICG Strategic Equity in its acquisition and recapitalization of Monitor Clipper Partners Fund II
  • ICG Strategic Equity in its acquisition and recapitalization of VSS Communication Partners IV
  • ICG Strategic Equity in its acquisition and recapitalization of the investment funds managed by EdgeStone Capital Partners
  • New Globe Capital and Goldman Sachs Asset Management in the acquisition and recapitalization of private equity funds managed by Diamond Castle Holdings
  • an activist hedge fund in connection with an investment made by Dyal Capital Partners
  • Octavian Advisors, Octavian Global Partners and their affiliates in the sale of control to TPG Special Situations Partners
  • Vision Capital in the merger and spin-out of legacy assets of Willis Stein L.P.
  • Vision Capital Advisors in the sale of substantially all of its assets to Airdrie Partners I,  L.P, a hedge fund sponsored by Fort Washington Capital Partners, L.P.
  • Mubadala Development Company in its follow-on investment in The Carlyle Group, L.P., a global asset manager and the subsequent initial public offering of The Carlyle Group
  • Mubadala Development Company in its investment in The Related Companies, a leading U.S. real estate investment fund
  • Mubadala Development Company in its investment in The Raine Group LLC, a global merchant bank focused on digital, media & entertainment and sporting & lifestyle sectors

Energy Transactions

  • Aventine Renewable Energy Holdings in its merger with Pacific Ethanol, Inc.
  • Hawkeye Renewable Energy in its sale of substantially all of its assets to Flint Hills Resources LLC, an affiliate of Koch Industries
  • Southwest Georgia Ethanol in its sale of substantially all of its assets to Flint Hills Resources LLC, an affiliate of Koch Industries

Finance Transactions

  • an affiliate of Solar Capital in its acquisition of North Mill Capital LLC from management and a private equity sponsor
  • Solar Capital in its acquisition of National Equipment Finance from management and a hedge fund sponsor
  • Solar Capital in its acquisition of Gemino HealthCare Finance LLC from management and a private equity consortium
  • Solar Capital in its acquisition of Crystal Financial LLC from management and a private equity sponsor

TMT/Consumer Transactions

  • a management team in the creation of a digital content joint venture with AT&T Services
  • a private equity consortium in its acquisition of Devil’s Peak brewery located in South Africa
  • a private equity sponsor in its platform to acquire Pizza Hut franchises located in South Africa, Botswana, and Nigeria
  • Farol Capital in connection with the acquisition of IBwave Solutions, a wireless software company
  • the unsecured creditors’ committee in the reorganization of Goodman Networks
  • Farol Capital in connection with its acquisition of Delphon Industries LLC, a provider of materials and services to the semiconductor, medical and telecommunications industries
  • the New York Yankees in their joint venture with ManCity to launch New York City FC
  • Cyrus Capital in debt and equity investments in Virgin America and the subsequent initial public offering of Virgin America
  • Inner City Media Company in a series of §363 asset sales to Entercom Communications and affiliates of The Yucaipa Companies and Fortress Investment Group
  • Mubadala Development Company in its investment in a consortium that acquired D.E. Master Blenders, a global coffee manufacturer
  • Thor Industries in its acquisition of Heartland Recreational Vehicles from affiliates of Catterton Partners, a private equity sponsor
  • Thor Industries in its acquisition of Keystone RV Company from affiliates of Summit Partners, a private equity sponsor
  • Mubadala Development Company in a carve-out transaction and investment in the Viceroy Hotel Group, a leading boutique hotel group

Community Involvement

Mr. Muldrow serves as the Vice Chairman of the Board of Directors of the Dance Theatre of Harlem. Mr. Muldrow is a member of the Board of Directors of Bright Point Health and Friends of the High Line.

Speaking Engagements

  • Fiduciary Duties of Directors and Majority Shareholders, Practicing Law Institute’s Acquiring or Selling the Privately Held Company 2013-2017
  • Drafting and Negotiating Corporate Agreements, Practicing Law Institute’s Acquiring or Selling the Privately Held Company 2016-2017
  • Preserving Attorney-Client Privilege in M&A Transactions, New York City Bar Association, October 2015
  • Doing Good Globally:Lawyers as Pro Bono Providers and Trustees to Global Nonprofits, Lincoln Center’s CLE with Culture, May 2015
  • Fiduciary Duties for Directors, National Association of Corporate Directors C-Suite to Board Seat Program, May 2014 and September 2014
  • Private Equity Roundtable, Thomson-Reuters 2014 New York M&A and Private Equity Conference
  • Fund M&A and Restructurings:Lifecycle Issues for Private Equity and Hedge Fund Sponsors, 2014 Illiquid Financial Asset Conference, March 2014
  • Case Study on M&A Process, National Association of Corporation Directors Conference, December 2013
  • Trends in Asset Manager Transactions, Akin Gump Annual Private Investment Funds Conference, December 2013

Awards & Accolades

  • Private Practitioner of the Year, Metropolitan Black Bar Association, 2015
  • led a transaction selected by Financial Times as one of the most innovative transactions in the Financial Times 2013 U.S. Innovative Lawyers report
  • named a Council of Urban Professionals Cup Catalyst: Change Agent in Law, 2013