Industries

Bar Admissions

  • Maryland

Education

  • J.D., cum laude, University of Maryland School of Law, 2006
  • B.A., cum laude, Gettysburg College, 2002
T +1 410.244.7576
F +1 410.244.7742
 

William F. Herrfeldt

Partner

Bill Herrfeldt is a member of Venable's Corporate Practice Group and his practice focuses on three core areas: investment fund formation, mergers and acquisitions and debt financing.

Investment Funds

Bill's investment fund formation practice involves advising fund sponsors, investors and other market participants on the organization, negotiation, structuring and operations of investment funds. Bill's experience in fund formation matters and operational issues faced by their sponsors includes small first-time funds and newly organized sponsors through much larger funds and established sponsors.

Mergers and Acquisitions

Bill's mergers and acquisitions practice involves advising large and middle-market companies, start-up and emerging growth companies, investment funds, institutional investors and financial institutions in mergers and acquisitions, structured equity, strategic partnering and joint ventures, private equity and venture capital transactions and general corporate planning. Bill also regularly advises real estate investment managers, owners and developers in real estate joint ventures.

Debt Financing

Bill's debt financing practice involves advising borrowers and lenders in senior, mezzanine and other subordinated debt financing transactions. Bill advises investment funds and early-stage and large and middle-market companies as borrowers, and credit funds, banks and other financial institutions as lenders in asset-based, cash flow, factoring, accounts receivable purchasing and other credit or credit-like transactions. Bill also has significant debt and servicing right purchase experience, including representing bank and non-bank purchasers of distressed and performing credit card receivables, mortgage loan portfolios, auto loan portfolios and servicing rights from originators, intermediaries and receivers.

Significant Matters

Bill's experience includes representing:
  • Alta Growth Capital in the formation of its third fund focused on making investments in middle-market companies in Mexico and other Latin American countries.
  • Presidio View Capital Partners in the formation of its flagship venture capital fund focused on making investments in the U.S. cannabis industry.
  • Experienced real estate asset manager in the formation of its first commingled real estate private equity fund focused on opportunistically acquiring value-add commercial real estate.
  • Established venture capital fund as borrower under a portfolio-level credit facility secured by a subset of securities and other assets held by the fund.
  • Guthy-Renker LLC in the 2016 sale of a majority interest of its worldwide Proactiv business, the world's leading non-prescription acne brand, to NestlĂ© Skin Health
  • One of the largest housing products distributors in North America in multiple strategic acquisitions and acquisition financing transactions.
  • Bowles Fluidics Corporation in its sale by merger to Morgenthaler Private Equity.
  • Public pension funds and other institutional investors in private equity and hedge fund investments ranging in size between $10 million and $200 million.
  • Real estate private equity funds and investment advisors in numerous joint ventures established to fund and govern the acquisition and development of commercial, industrial and multifamily properties throughout the United States.
  • Technology staffing company in a $60 million purchase of an international staffing business with operations in four countries.
  • Private equity fund in connection with the purchase of an industrial division of Textron Inc. that included 34 companies located in 17 countries with a total transaction value in excess of $1.1 billion.
  • Distressed debt fund in a $20 million revolving credit facility secured by multiple tranches of healthcare receivables that included complex cash-recycling components and the acquisition of multiple portfolios of credit card, subprime auto and healthcare receivables.
  • Major privately-held coal company in the stock acquisitions of two competitors for a combined purchase price of $66 million and a joint venture with a major publicly-held energy company valued between $400 million and $900 million.
  • Investors in over 30 multi-investor and single-investor federal low-income housing tax credit equity funds with an average investment between $8 million and $50 million.  
  • Regional petroleum jobber in the acquisition of all the assets of a major Mid-Atlantic jobber and gas station owner for a total transaction value in excess of $26 million.
  • National licensed sporting goods retailer in the sale of all its assets to a major publicly-held retailer for a total transaction value in excess of $34 million.
  • Mortgage loan servicer in the acquisition of multiple portfolios of mortgage servicing rights, including the acquisition of a portfolio of $5.2 billion UPB of mortgage servicing rights relating to Ginnie Mae guaranteed MBS for approximately $24 million.

Activities

Bill's civic participation includes the Board of Directors of the Crohn's and Colitis Foundation of America, Maryland/S. Delaware Chapter.