Todd Fogarty

With his corporate clients, Todd provides communications counsel and execution support to senior executive teams and boards of directors, focusing on positioning, media and investor relations, and crisis communications and critical disclosures. He has deep experience in working with clients in the context of special situations including M&A, litigation and regulatory actions, and shareholder activism and corporate governance matters.

Todd also has significant experience across the private capital sector, based on decades of work with a number of major private equity firms, hedge funds, family offices, and other asset managers. He helps drive Kekst CNC’s industry-leading Private Capital group, which has one of the world’s largest and most experienced teams supporting more than 80 of the industry’s most active, innovative and entrepreneurial firms.

A significant proportion of Todd’s client relationships extend more than a decade.

He holds a BA in History, with a focus on China, from Brown University, and also studied at The Chinese University of Hong Kong and Yale-China Chinese Language Centre.

Experience

Private Capital Communications

Todd supports the strategic communications initiatives and media relations of a range of leading private equity firms, credit-focused managers, hedge funds and family offices.

Among his credit and hedge fund clients are Avenue Capital Group, Silver Point Capital, Strategic Value Partners, Dell Family Office, Compass Rose Asset Management, Mudrick Capital, and a global investment firm with more than $100 billion in investment and committed capital.

His work with current private equity clients includes: Accel-KKR, a leading technology-focused private equity firm, on numerous investments, realizations and fundraises; Apax Partners, a leading global private equity firm, on dozens of acquisitions and subsequent realizations in North America, as well as around a range of portfolio company matters and fundraisings; Lexington Partners, a leading global manager of secondary private equity and co-investment funds, on a range of communications matters; Palladium Equity Partners, a middle-market private equity firm, in support of numerous acquisitions and realizations; and Welsh, Carson, Anderson & Stowe, a private equity firm focused on technology and healthcare, on numerous investments and realizations.

Mergers & Acquisitions

Todd has advised corporate and private capital clients in hundreds of transactions, including many of the largest and most complex mergers and acquisitions and go-private transactions over the past 25-plus years. Notable recent transaction representations include:

• A range of general partner-led continuation vehicles, on behalf of GPs and secondary investors – across private equity and credit.
• AerCap Holdings on its $30 billion acquisition of GE’s GE Capital Aviation Services business.
• Cummins Inc. on its $3.7 billion acquisition of Meritor, Inc.
• The spinoff from Cummins of Atmus Filtration Technologies and the stand up of the fully independent, publicly listed company.
• Avenue Capital Group in the sale of a portfolio of natural gas-fired power plants to Partners Group for $2.2 billion.
• PPL Corp. on the sale of its UK business, Western Power Distribution, to National Grid for $10.9 billion, and PPL’s acquisition of Narragansett Electric from National Grid for $3.8 billion. Also, PPL in its previous spinoff of its merchant generation business, Talen Energy, as an independent, publicly listed company.
• Overseas Shipholding Group in its acquisition by Saltchuk Resources for $950 million.
• Lexington Partners in its purchase by Franklin Templeton for more than $1.75 billion.
• The combination of Weber LLC and Blackstone Products, bringing together iconic brands in outdoor cooking.
• Legg Mason in its purchase by Franklin Templeton for $6.5 billion.
• Celgene in its $74 billion sale to Bristol-Myers Squibb.
• EMC Corporation in its $67 billion sale to Dell and Silver Lake, as well as the acquisitions by EMC of Data Domain and Isilon Systems.
• The sale of Acelity by Apax Partners and its consortium partners to 3M for $6.725 billion.
• The carve out of Vyaire Medical from Becton, Dickinson & Company by Apax Partners.
• Dell in its sale to Michael Dell and Silver Lake Partners for more than $24 billion, as well as Dell’s prior acquisitions of Perot Systems and Compellent, and its bid for 3PAR.
• Corning Incorporated in the strategic realignment of its ownership interest in Dow Corning Corporation, as well as numerous other transactions.
• Baxalta, first in defense against a hostile takeover proposal from and ultimately in its $32 billion merger with Shire plc and subsequent integration process.
• The acquisition of GardaWorld for C$1.1 billion by Apax Partners, and subsequent sale of the company to members of management and Rhône Capital.
• Genzyme Corporation in its response to the unsolicited offer by Sanofi-Aventis and ultimate acquisition for more than $20 billion.
• The sale of TRADER Corporation by Apax Partners to Thoma Bravo for C$1.575 billion.
• The blank check companies Boulevard Acquisition Corp II in the combination with Brazil’s Estre Ambiental S.A. to form and list publicly the largest waste management company in Latin America, and Boulevard Acquisition Corp. in the carve out of the AgroFresh business unit of Dow Chemical as an independent company.
• Quest Diagnostics in support of more than a dozen acquisitions and divestitures, including LifeLabs for C$1.35 billion and SmithKline Clinical Laboratories for $1.3 billion, contributing to the company’s growth into the leading provider of diagnostic information services in North America.
• Allied Waste Industries in its sale to Republic Services for $6.24 billion, following a multi-year M&A program that included the acquisition and integration of Browning-Ferris Industries.
• SAP AG in its $4.3 billion acquisition of Ariba Inc.
• Eaton Corp. in its $11.8 billion acquisition of Cooper Industries.
• Biogen in its $6.8 billion combination with Idec Pharmaceuticals.
• RWE AG in its $4.6 billion acquisition of American Water Works.
• Deutsche Telekom in its acquisition of VoiceStream for $50.7 billion to form T-Mobile US.
• Accel-KKR in several dozen investments and exits.
• Investcorp in several dozen investments and exits, including Saks Fifth Avenue, Gucci, and Circle K.

Restructuring and Bankruptcy

Todd has served as communications counsel to a host of creditor groups and debtors in connection with bankruptcies and restructurings. Representations have included:

• An ad hoc group of senior secured noteholders and DIP lenders of Saks Global during the luxury retailer’s 2026 restructuring – from its Chapter 11 filing through its successful emergence as Exemplar Luxury Group.
• An ad hoc group of bondholders holding more than $11 billion of debt securities of DISH Network Corporation and DISH DBS Corporation in a successful opposition to proposed exchange offers.
• An ad hoc lender group in the Chapter 11 cases of Exactech, a global medical technology company, and the company’s subsequent rebranding to Advita Ortho.
• The Parent Ad Hoc Claimant Group in the LATAM Airlines Chapter 11 cases.
• The Ad Hoc Subrogation Group in connection with PG&E’s Chapter 11 cases, representing insurers and other investors holding the vast majority of subrogation claims related to the California wildfires in 2017–2018.
• An ad hoc group of lenders to Hornblower Group, a provider of sightseeing cruises and ferry transportation services, in its Chapter 11 cases.
• An ad hoc group of noteholders in Rite Aid Corporation’s emergence from Chapter 11.
• One Call Corporation in its successful out-of-court recapitalization.
• American Airlines in its Chapter 11 restructuring.
• rue21 in its Chapter 11 restructuring.
• Cengage Learning in its Chapter 11 restructuring.

Shareholder Activism and Corporate Governance

• Todd has provided counsel on shareholder activism and corporate governance to major companies – from extensive preparedness planning to full-fledged proxy contests.
• While much of this work has not been public, visible activist-related matters have included: EMC Corporation (Elliott Management), Dell (Carl Icahn), Genzyme Corporation (Carl Icahn, Relational), Progress Software (Praesidium Investment Management), PulteGroup (William Pulte, Elliott Management), Zoetis (Pershing Square), MSCI (ValueAct), JDA Software (Praesidium), Legg Mason (Trian) and Biogen (Carl Icahn 2x).

Specialized Investor Relations

• Todd supports the development and execution of strategic communications plans and investor relations activities of corporate clients, including around quarterly reporting and financial disclosures, investor days, management succession and leadership changes, and spinoffs and other restructurings.
• Current and past corporate client work has extended from numerous Fortune 500 companies through to newly established companies, including spinouts and IPOs.

Crisis Communications

Todd has worked with companies in managing communications related to a variety of special situations, including litigation and regulatory actions, workplace misconduct, advocacy group activity, union issues, among others. His specific experience in this area includes:

• Work with boards and leadership teams of dozens of public and private organizations to announce CEO and other senior-level management transitions, or to address allegations of inappropriate behavior by senior executives and related matters.
• Support of a significant number of clients around data breaches and other cybersecurity-related events.
• Extensive work with parties throughout the healthcare supply chain on issues relating to the opioid crisis.
• Counsel to biotechnology company Biogen on a range of matters, including the voluntary withdrawal of multiple sclerosis drug Tysabri.
• Support of the biotechnology company Genzyme around the halt of its manufacture of rare disease treatments at its Cambridge, MA manufacturing facility.
• Counsel to several medical device companies in their recall of products.
• Representation of software company Computer Associates on a number of governance and regulatory matters, including around a government investigation of the company’s accounting practices, the subsequent settlement and DPA, and restoration of the organization’s reputation under a new leadership team.
• Assistance of clients across industries in the development of crisis communications plans and related training programs.