Private Equity

  • September 23, 2024

    Petco, Shareholders Battle In Chancery Over Controller Clout

    Attorneys for Petco Health & Wellness Co. Inc. face an "uphill battle" in branding as "wrongly decided" a landmark Court of Chancery ruling earlier this year that struck down an agreement giving a company's controlling stockholder board-trumping power, Delaware's chancellor cautioned on Monday.

  • September 23, 2024

    CFTC Fines Piper Sandler $2M In Latest Text Messaging Action

    The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission both announced settlements Monday in their ongoing probe into the financial industry's use of personal devices to discuss company business, with the CFTC issuing a fine against a subsidiary of Piper Sandler & Co. while the SEC said that a cooperative investment adviser would not have to pay anything. 

  • September 23, 2024

    USC Lies Fueled 'Varsity Blues' Case, Exec Says In $75M Suit

    A private equity executive who beat most charges in the "Varsity Blues" college admissions case hit the University of Southern California with a $75 million California state court suit, claiming he was duped into making a donation that ensnared him in the scandal.

  • September 23, 2024

    Boston-Based PE Firm Wraps Debut Fund With $220M In Tow

    Boston-based private equity shop Heritage Holding on Monday announced that it closed its debut fund with $220 million in tow, which will be used to partner with small business owners and founders.

  • September 23, 2024

    Natural Gas Co. Must Pay $6.8M To Ex-Trader In Bonus Fight

    A Colorado state judge has entered a $6.8 million judgment against a natural gas marketing company for its failure to pay an ex-trading director a bonus on lucrative trades he made during a 2021 winter storm, a sum that includes more than $2.5 million in penalties for the company's intentional violation of a state wage law.

  • September 23, 2024

    RSV Vaccine Biz Secures $100M For Series B Funding Round

    Biopharmaceutical company Vicebio Ltd. on Monday announced that it secured its Series B funding round after securing $100 million led by science-focused investment firm TCGX.

  • September 23, 2024

    Latham-Led Aerospace Giant StandardAero Preps $1B IPO

    Private equity-backed aerospace services provider StandardAero Inc. launched plans on Monday for an estimated $1 billion initial public offering, represented by Latham & Watkins LLP and underwriters' counsel Milbank LLP, potentially marking one of the year's largest IPOs.

  • September 23, 2024

    Ex-Comtech CEOs Push For New Board, Strategic Changes

    Two former CEOs of Comtech Telecommunications Corp. are calling for a new board at the global technology company and are pushing the business to consider strategic options, including a potential sale of its public safety business, while noting that one of the CEOs had even offered to re-take the helm at the company without cash compensation.

  • September 23, 2024

    Paul Weiss Gains PE, M&A Partner From Ropes & Gray

    Paul Weiss Rifkind Wharton & Garrison LLP has added to its mergers and acquisitions and private equity practice groups an attorney who previously worked for Ropes & Gray LLP and Kirkland & Ellis LLP.

  • September 23, 2024

    Debevoise Reps KKR On $4.6B Middle-Market Fund

    Debevoise & Plimpton LLP-advised private equity giant KKR announced Monday that it clinched its latest fund dedicated to middle-market businesses in North America after securing $4.6 billion in investor commitments.

  • September 20, 2024

    IPO Trio Looks To Raise $536M Combined As Autumn Begins

    Three companies spanning the energy, healthcare and life sciences industries are preparing initial public offerings that could raise $536 million combined in the coming week, guided by six law firms, signaling an upturn in IPOs as autumn begins.

  • September 20, 2024

    Agriculture Tech Biz's $147M SPAC Merger Is Scrapped

    Miami-headquartered special purpose acquisition company Agrinam Acquisition Corp. and Boston-based agricultural technology company Freight Farms Inc. have nixed their merger plans that would have seen Freight Farms go public at a market capitalization of around $147 million.

  • September 20, 2024

    Fed's Surprise Rate Cut Gives M&A Markets Needed Relief

    Mergers and acquisitions activity is inextricably linked to borrowing costs, which means the Federal Reserve's larger than expected half-point interest rate cut could provide just the type of relief dealmakers need for a significant rebound, attorneys say.

  • September 20, 2024

    BNP Paribas Plugging $5B Into Apollo-Backed Atlas

    Private equity giant Apollo and its Atlas SP Partners platform, both advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Friday unveiled a strategic partnership with European Union bank BNP Paribas, led by Cadwalader Wickersham & Taft LLP, that will see the global bank plugging an initial $5 billion investment into the collaboration.

  • September 20, 2024

    Cardinal Health Pays $1.12B For Integrated Oncology Network

    Ropes & Gray LLP-advised Cardinal Health on Friday announced that it has agreed to buy the physician-led independent community oncology entity Integrated Oncology Network for $1.115 billion in cash, in a deal that Cardinal says builds on its commitment to helping community healthcare providers hold on to their independence.

  • September 20, 2024

    Off The Bench: Favre Flops, Dolan Escapes, Betting Cos. Sued

    In this week's Off The Bench, retired quarterback Brett Favre can't revive a defamation suit against fellow NFL Hall of Famer Shannon Sharpe, New York Knicks owner James Dolan is spared from federal sex-trafficking claims, and two sports-betting giants face new suits over their use of MLB player images.

  • September 20, 2024

    Taxation With Representation: Gibson Dunn, Holland & Knight

    In this week's Taxation With Representation, CACI International buys Azure Summit Technology, Hotel Engine lands a valuation led by Permira, and Knowles Corp. sells its microphone business to Syntiant Corp.

  • September 20, 2024

    DOE Picks 25 Battery Projects For $3B Of Awards

    The U.S. Department of Energy on Friday said it has selected 25 projects across 14 states for negotiations for $3 billion of federal funding aimed at boosting the domestic production and recycling of batteries and key materials.

  • September 20, 2024

    Ex-Akin Gump Atty Joins Willkie's Asset Management Dept.

    Willkie Farr & Gallagher LLP said this week that a former Akin Gump Strauss Hauer & Feld LLP attorney has joined the 25-partner team in its asset management department, which focuses on private fund formation and liquidity solutions transactions.

  • September 20, 2024

    EQT To Buy Indian Affordable Housing Finance Biz For $210M

    Swedish investment giant EQT plans to buy Indostar Home Finance of India for $120 million, to help its growth as the Asian country struggles with housing shortages.

  • September 19, 2024

    Senate Panel Holds Steward CEO In Contempt After No-Show

    A U.S. Senate committee voted unanimously Thursday to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt after he defied a subpoena to testify about the bankrupt health system's downfall.

  • September 19, 2024

    Simpson Thacher Reps ICG On $1.9B North American Fund

    Simpson Thacher & Bartlett LLP-advised British private equity shop Intermediate Capital Group Inc. on Thursday announced that it clinched its third North American credit fund with $1.9 billion in capital commitments.

  • September 19, 2024

    Sidley-Led Knowles Sells Microphones Biz For $150M

    High-performance electronics company Knowles Corp., led by Sidley Austin LLP, on Thursday announced plans to sell its Consumer MEMS Microphones business to Latham & Watkins LLP-advised Syntiant Corp. in a $150 million cash and stock deal.

  • September 19, 2024

    Weil Continues Building Funds Group With Ex-Goodwin Atty

    Weil Gotshal & Manges LLP announced the fourth addition to its private funds group over the past several months, welcoming a former Goodwin Procter LLP partner to its New York office.

  • September 19, 2024

    Pink Floyd, NFL And PE Take Limelight In Latest Deal Rumors

    Sony Music could be on the verge of paying roughly $500 million for the rights to music recorded by Pink Floyd, and NFL teams including the Miami Dolphins and Los Angeles Chargers are exploring options to sell stakes to private equity firms. Here, Law360 breaks down these and other notable deal rumors from the past week.

Expert Analysis

  • 8 Legal Issues Influencing Investors In The Creator Economy

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    The rapidly expanding digital creator economy — funding for which more than doubled in the U.S. in the first quarter — comes with its own set of unique legal issues investors must carefully consider before diving in, say Louis Lehot and Alan Pate at Foley & Lardner.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

  • Dual-Track IPO-M&A Exit Strategies For Life Science Cos.

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    A dual-track process for life sciences companies offers a proven path to securing favorable deal terms for an exit, and strategic moves can include running a crossover financing round in the lead-up, say attorneys at McDermott.

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • Mid-2024 FCA Enforcement And Litigation Trends To Watch

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    Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.

  • A Recipe For Growth Equity Investing In A Slow M&A Market

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    Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

  • PE-Healthcare Mergers Should Prepare For Challenges

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    State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • SEC Off-Channel Comms Action Hints At Future Enforcement

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    Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.

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