Jonathan Gafni | Lawyers

Country Of Admission

United States

Services

Antitrust & Foreign Investment Group

“I support clients in obtaining successful outcomes in cross-border transactions that may raise issues relating to CFIUS or other U.S. foreign investment reviews. Having extensive experience both in government and private practice, I am able to provide authoritative guidance on how the U.S. government can be expected to react to proposed investments and to assist clients develop clear, practical and achievable strategies to secure necessary government approvals.”

Overview

Jonathan is the Head of our U.S. Foreign Investment practice, advising domestic and international clients in connection with national security reviews of inbound and outbound foreign investments. He represents clients before the Committee on Foreign Investment in the United States (CFIUS) and other U.S. government authorities responsible for cross-border investment controls. He advises clients on direct and indirect investments in U.S. businesses, non-U.S. mergers and acquisitions with a nexus to U.S. business, and the new U.S. outbound foreign investment control program.

He has significant CFIUS-related government experience, having served in the Senior National Intelligence Service as deputy national intelligence officer for CFIUS support at the Office of the Director of National Intelligence. In that role, Jonathan led U.S. intelligence community support to the CFIUS process, directing the preparation of national security threat analyses of more than 500 cross-border transactions. He also served as a member of the interagency committee that wrote new CFIUS regulations following the 2007 amendment of the law governing CFIUS.

Jonathan was ranked in 2022 - 2025 by Chambers and Partners as a CFIUS expert and was named a Top Advisor from 2020 - 2024 by Foreign Investment Watch. Descriptions of selection methodologies: Chambers and Partners and Foreign Investment Watch. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

Work Highlights

Jonathan has represented parties across the globe, advising them on CFIUS and other national security issues arising from transactions in a variety of industries, including the aerospace and defence, infrastructure, information and communications technology, manufacturing, real estate, financial services and food sectors. Examples include advising:

Aperam S.A. (Luxembourg) in its US$537m acquisition of Universal Stainless & Alloy Products, Inc., a producer and marketer of semi-finished and finished specialty steel products.
Proximus Group SA (Belgium) in its acquisition of a majority interest in Indian cloud communications platform Route Mobile Limited.
Daimler AG (Germany) in its spinoff of its trucks and buses businesses to Daimler Truck Holding AG.
Schaeffler AG (Germany): advising on its acquisition of Ewellix AB, a producer of linear motion and actuation solutions
Dialog Semiconductor Plc (UK) in its €4.9bn acquisition by Renesas Electronics Corporation.
CJ Cheiljedang (South Korea) in its acquisition of a majority interest in Batavia Biosciences B.V.
Jagex Ltd. (UK): advising on its its acquisition of Pipeworks Studios, a U.S.-based game development studio, from Sumo Group.
Covestro AG (Germany) in its €1.6bn acquisition of the resins and functional materials business of Royal DSM.

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Beyond the Office

Jonathan is a recognized thought leader on matters relating to national security reviews of cross-border investment. Jonathan has co-authored several articles on the implications of the CFIUS process, recent CFIUS reforms, and the new outbound foreign investment security program. He has been cited by Financial Times, The Wall Street Journal, The New York Times, Forbes, Reuters, The Deal, Foreign Investment Watch, and Law360, and has discussed CFIUS-related issues on Bloomberg TV and CCTV.

Jonathan’s professional experience before joining the U.S. government continues to help inform his understanding of clients’ strategic and financial objectives. After beginning his career as a corporate/securities attorney, Jonathan served as a senior manager of corporate development and business analysis for telecommunications equipment manufacturers and service providers, as principal of a consulting firm in which he evaluated strategic investments and as a senior analyst in an executive branch lobbying firm.

In both government and the private sector, Jonathan has supported the development and promotion of female, minority, and LGBTQ+ colleagues. His pro bono work has included:

Leading an international team of Linklaters lawyers providing pro bono support on judicial evaluation methods to the Federation of Latin American Judges, a project recognized for excellence by the Cyrus R. Vance Center for International Justice;
Advising parents of adult children with developmental disabilities on the process for obtaining Supplemental Security Income benefits;
Estate planning for LGBTQ and HIV-positive individuals; and
Assisting a non-violent drug offender to obtain early release from prison under the Obama administration’s Clemency Initiative.

From 2020-2022, Jonathan served on the board of directors of Specially Adapted Resource Clubs (SPARC), which provides a club-based, community-oriented day support program for adults with developmental and physical disabilities.

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Education and Qualifications

Jonathan holds a juris doctorate from the Hastings College of the Law, University of California, where he was editor-in-chief of the Hastings International and Comparative Law Review. Jonathan earned his bachelor’s degree in economics at the Massachusetts Institute of Technology, and he also holds an MBA from Georgetown University and a master’s in strategic intelligence from the National Defense Intelligence College. Jonathan is also a certified public accountant.

Overview

Work Highlights

Aperam S.A. (Luxembourg) in its US$537m acquisition of Universal Stainless & Alloy Products, Inc., a producer and marketer of semi-finished and finished specialty steel products.

Proximus Group SA (Belgium) in its acquisition of a majority interest in Indian cloud communications platform Route Mobile Limited.

Daimler AG (Germany) in its spinoff of its trucks and buses businesses to Daimler Truck Holding AG.

Schaeffler AG (Germany): advising on its acquisition of Ewellix AB, a producer of linear motion and actuation solutions

Dialog Semiconductor Plc (UK) in its €4.9bn acquisition by Renesas Electronics Corporation.

CJ Cheiljedang (South Korea) in its acquisition of a majority interest in Batavia Biosciences B.V.

Jagex Ltd. (UK): advising on its its acquisition of Pipeworks Studios, a U.S.-based game development studio, from Sumo Group.

Covestro AG (Germany) in its €1.6bn acquisition of the resins and functional materials business of Royal DSM.

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Overview

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Beyond the Office

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Education and Qualifications

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Overview

Work Highlights

Beyond the Office