"Weil Gotshal partner Gerhard Schmidt, co-managing partner of the Biglaw firm's German offices and a private equity and mergers & acquisitions attorney, is on the hot seat thanks to a €5 million personal investment. According to reporting by the Financial Times, in 2017 Schmidt invested the money in private equity group Novalpina Capital, sans the typical investor fees due to his relationship with the founders, and chaired Novalpina Capital."
"NSO's Pegasus tool can read encrypted messages, turn on a phone's camera and microphone remotely, and track its location. When NSO's oversight board took steps to renew Saudi Arabia's access to the tool after the murder of journalist Jamal Khashoggi, Schmidt was among those who "would have been voting", the court filing said. NSO had halted a contract with Saudi Arabia after allegations that its technology had been used to track Khashoggi, who was murdered in 2018."
Gerhard Schmidt personally invested €5 million in Novalpina Capital in 2017, waived typical investor fees because of his relationship with the founders, and chaired Novalpina. Novalpina acquired Israel's NSO Group, maker of Pegasus, a tool that can read encrypted messages, activate phone cameras and microphones remotely, and track locations. Court documents indicate Schmidt advised on the NSO transaction and served on the holding company board overseeing NSO operations. The US Commerce Department blacklisted NSO in November 2021 for enabling transnational repression. Litigation among Novalpina founders has prompted filings seeking Weil Gotshal information. Schmidt is retiring from Weil at year-end.
Read at Above the Law
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