Stephen Koval is a Partner at Arnold & Porter and co-head of the firm's Private Equity practice. He concentrates his practice on structuring and negotiating complex business transactions and private equity structures, including public and private mergers, acquisitions, divestitures, carveouts, recapitalizations, and workouts. He has substantial experience in public offerings and private placements of debt and equity securities, representing financial institutions and US issuers of all sizes in the United States, and both US and international entities in cross-border offerings. He is also experienced in the restructuring of the debt of financially distressed public and private companies. Steve is an experienced corporate counselor, advising boards of directors and their committees on a broad range of issues, including governance and executive compensation. His practice is particularly focused on several industries in which he has substantial experience, including retail, consumer goods and luxury brands, transactional health care, industrials and services. Steve has been recognized as a leading practitioner in Chambers USA: America's Leading Lawyers for Business, and has served on the firm's Executive Committee. In addition to serving on the Advisory Board for the Smithsonian Libraries, Steve also serves on the Board of Directors for the Metropolitan Opera Guild, the Museum Advisory Council for the American Museum of Natural History, and on fundraising committees for numerous educational and philanthropic institutions.