We are advising Gallatin Point on the transaction

Davis Polk is advising Gallatin Point Capital LLC on its $150 million acquisition of approximately 15% of the equity of Israel Discount Bank of New York (IDBNY). 

Gallatin Point is a private investment firm specializing in financial services founded by Matt Botein and Lee Sachs in 2017. Managing over $4.5 billion across multiple funds, Gallatin Point Capital focuses on investments in financial services companies, including those involved in lending, insurance, asset management, fintech, real estate finance, banking and capital markets.

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 Davis Polk financial institutions M&A team includes 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 is providing executive compensation advice. Partner Frank J. Azzopardi is providing intellectual property advice. Partner Ethan R. Goldman is providing tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices. 

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