Sherman W. Smith III
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Sherman W. Smith III

Counsel

Philadelphia, PA
 
 
 

Sherman W. Smith, III focuses his practice on a variety of finance and equity matters. Sherman’s transactional activities include commercial lending, corporate finance, recapitalizations, mergers and acquisitions, private equity, real estate acquisition and development, aircraft and equipment financing, literary publishing, content licensing (including broadcast television and pay-per-view events) and other entertainment-related industry opportunities.

Sherman brings a unique and varied perspective to the matters that he is involved in throughout his legal practice. Always seeking ways to give back, Sherman routinely works with non-profit organizations in a variety of business matters, including real estate and commercial finance transactions. Sherman is the former co-chair of the firm's Pro Bono Committee and is also a member of the firm's Diversity Committee.

Sherman has experience in the following practice areas:

Private Equity

Sherman recently negotiated and formed an infrastructure private equity fund based in California where the lead investor is a major pension trust. Sherman and the firm are representing this private equity fund in its portfolio company investments. He has also provided counseling to a major public pension fund client in a $40 million private equity investment in the healthcare industry. Sherman has also represented a client in the divesture of approximately $30 million worth of limited partnership interests in 28 different private equity funds, and he has counseled and represented a client with the creation of a unique private equity fund concentrating on a specific segment of commercial real estate.

Finance- Commercial Banking

Sherman represents some of the nation’s largest middle-market and mid-corporate financial institutions, working closely with these banks’ loan officers to structure, negotiate and document commercial loans for single-bank and syndicated bank transactions.

Finance- Asset-Based & Cash Flow Lending

Sherman regularly represents major financial institutions in financing transactions, including asset-based and cash-flow based credit facilities. Because of his diverse background, Sherman has been able to assist his financial institution clients with unique credit facilities involving borrowers in a variety of niche businesses.

Finance- Real Estate

Sherman has also been involved in various aspects of real estate finance, acquisition and development, including assisting clients with the formation of private equity real estate funds to raise capital for larger real estate transactions. Sherman has represented clients in a variety of real estate transactions, including the development of a 40-unit condominium and commercial building in metropolitan Philadelphia and securing multi-million dollar financings for the acquisition and development of residential and mixed-use real estate projects. Sherman routinely represents lenders and major financial institutions in multi-million dollar commercial loans for construction and permanent financing of hotels, multi-family apartment buildings and office buildings.

Finance- Aircraft and Equipment Financing

Sherman's financing representations extend to the acquisition, trading and disposition of private aircraft and helicopters. In addition to representing clients that have acquired Challenger 604, Global Express, Learjet 60 and various other aircraft, Sherman has advised public and private clients regarding regulatory standards involving FAA, IRS, SEC and other general corporate governance issues. Sherman has also represented clients with respect to fractional ownership of aircraft.

Entertainment

In the entertainment arena, Sherman has represented recording artists, producers and recording studio owners in a variety of transactions involving the music industry. Sherman has represented and continues to represent national promoters involved in event sponsorship and promotions. In addition, Sherman has represented clients in many aspects of literary publishing.

From 1999 through 2002, Sherman served as the associate general counsel of Don King Productions, Inc. His responsibilities included negotiating and drafting agreements with U.S. and international broadcasters, negotiating letters of credit and related transactions with venues hosting the company's events, negotiating and drafting product endorsement agreements for athletes under the exclusive promotion of the company;, managing outside counsel in legal matters including labor and employment, litigation, intellectual property prosecutions, real estate and regulatory compliance and providing in-house counsel on all facets of the business including closed-circuit television and foreign television licensing, sponsorship agreements and regulatory/statutory compliance. He was also responsible for many phases of development of a 7,500-seat sports and entertainment facility in West Palm Beach County, Fl.

Sherman is a third-generation Howard University Law School graduate.