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Private Equity
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January 17, 2025
5 Firms Build 180 Degree Capital, Mount Logan Merger
Investment management company 180 Degree Capital Inc. and alternative asset management and solutions business Mount Logan Capital Inc. on Friday announced plans to merge in an all-stock transaction built by five law firms with an estimated pro forma enterprise value of $139 million.
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January 24, 2025
Simmons Taps DLA For New Antitrust Chief, MoFo For RE Pro
Simmons & Simmons LLP has hired DLA Piper's U.K. competition chief and an expert in international real estate transactions from Morrison Foerster LLP to boost its legal services in its London office.
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January 17, 2025
Oligarch Loses $14B Claim Over Russian Asset-Stripping Plot
Imprisoned oligarch Ziyavudin Magomedov's $14 billion claim against Transneft, Rostatom, TPG and others over an alleged Russian state-led conspiracy to strip his assets in two major port operators was struck out at a London court on Friday.
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January 17, 2025
KKR Takes Stake In Dubai Data Hub To Drive $5B Investment
Private equity heavyweight KKR & Co. Inc. plans to buy a stake in Dubai's Gulf Data Hub amid growing worldwide demand for platforms to support cloud connectivity and artificial intelligence, the companies said in a joint statement on Friday.
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January 16, 2025
SEC's General Counsel Barbero To Exit As Trump Takes Office
The U.S. Securities and Exchange Commission announced Thursday that General Counsel Megan Barbero will depart the agency on the day of President-elect Donald Trump's inauguration, capping a nearly two-year run that saw the agency face setbacks to its regulatory powers before conservative courts, but also notch some important wins.
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January 16, 2025
NY Court Won't Revive Leon Black Sex Assault Suit
A New York appeals court ruled Thursday that a nondisclosure agreement did indeed bar a woman's sexual assault suit against former Apollo Global Management CEO Leon Black, finding that the NDA was not signed under duress and is therefore valid.
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January 16, 2025
Texas Justices Question If Courts Can Rethink TCPA Motions
Texas justices questioned whether a trial court can reconsider a motion under the state's anti-SLAPP law to dismiss a farmland-centered REIT's suit against a Dallas-based hedge fund, saying during oral arguments Thursday that allowing it to do so might create a "big hammer" hanging over the parties' heads.
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January 16, 2025
PE Exec Nominated To Lead Fannie, Freddie Regulator
President-elect Donald Trump said he will nominate Bill Pulte, the CEO of private equity firm Pulte Capital, to lead the agency regulating Fannie Mae and Freddie Mac.
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January 16, 2025
Cleveland-Cliffs Sets Sights On US Steel, And More Rumors
Cleveland-Cliffs has re-emerged as a potential suitor to purchase U.S. Steel after President Joe Biden blocked Nippon's planned purchase, TikTok could be sold to Elon Musk, and Prada is among potential suitors eyeing Versace. Here, Law360 breaks down these and other notable deal rumors from the past week.
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January 16, 2025
DOL Proposes Rule On Valuing Stock For Purchase By ESOPs
The U.S. Department of Labor proposed a rule Thursday to help plan managers determine the value of company stock for purchase by an employee stock ownership plan while also withdrawing a previous rule that the DOL proposed in 1988 but never finalized.
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January 16, 2025
Insight Partners Amasses $12.5B Across Latest Funds
Software investor Insight Partners on Thursday announced it wrapped two funds with a combined $12.5 billion in commitments, which will be used to invest in leading software companies worldwide to support growth at various stages.
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January 16, 2025
Ardian Lands $30B For Historic Secondaries Investment Fund
Private equity shop Ardian has clinched its ninth secondaries fund after amassing $30 billion of investor commitments, making it the largest ever secondaries fund to close globally to date, according to a Thursday statement.
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January 16, 2025
Petershill Partners Cuts Stake In General Catalyst For $726M
Investment firm Petershill Partners PLC said Thursday that it has sold most of its stake in General Catalyst for $726 million, seven years after putting its money into the global investor.
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January 15, 2025
Sidley-Led Flowco Raises $427M In Year's First Major IPO
Oilfield equipment and services provider Flowco Holdings Inc. on Wednesday priced a $427 million initial public offering above its range, represented by Sidley Austin LLP and underwriters' counsel Latham & Watkins LLP, marking the year's first sizable IPO.
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January 15, 2025
Del. Court Nixes Bid For Truth Social Share Attachment
A Delaware vice chancellor on Wednesday rejected an investor motion for a prejudgment attachment of remaining shares held by the blank-check company that took President-elect Donald Trump's Truth Social platform public, saying the move exceeded the court's authority.
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January 15, 2025
Plum Acquisition's Latest SPAC Leads 2 IPOs Raising $200M
Plum Acquisition IV Corp., the latest special-purpose acquisition company backed by investment firm Plum Partners, and Tokyo-based SPAC Ribbon Acquisition Corp. began trading today after the vehicles raised $200 million combined, guided by four law firms.
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January 15, 2025
Alston & Bird Hires McDermott M&A Duo In NY
Alston & Bird LLP has kicked off the new year by adding two former McDermott Will & Emery LLP partners to its mergers and acquisitions and private equity teams in New York, as part of a strategic commitment to bolstering the firm's domestic and international transactional capabilities.
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January 15, 2025
Origis Energy Lands $1B-Plus Infusion From Brookfield, Antin
Renewable energy platform Origis Energy, led by Latham & Watkins LLP, on Wednesday announced that it has received new investments from private equity shops Brookfield Asset Management, advised by Vinson & Elkins LLP, and Antin Infrastructure Partners that combined could exceed $1 billion.
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January 15, 2025
Amex GBT Blasts Bid To Block $570M Travel Services Deal
American Express Global Business Travel Inc. told a New York federal court Tuesday that the U.S. Department of Justice case seeking to block its planned $570 million purchase of CWT Holdings LLC ignores the competitive landscape of the corporate travel management industry.
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January 15, 2025
Canada Greenlights $18B Viterra-Bunge Grain Deal
The Canadian government has approved grain and seed supplier Bunge Ltd.'s plan to buy global grain trader Viterra Ltd. for $18 billion, but with "extensive" conditions, including Bunge having to invest at least $520 million in Canada over the next five years.
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January 15, 2025
TowerBrook's £283M Deal For Equals Wins FCA Backing
British financial technology business Equals Group PLC said Wednesday that the financial regulator of the U.K. has given a green light to its £283 million ($346.5 million) takeover by a consortium of private equity firms, including TowerBrook Capital Partners LP.
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January 15, 2025
Slaughter And May-Led Fortress Ups Loungers Bid To £366.6M
U.S. investment firm Fortress Investment Group LLC said Wednesday that it has increased its cash bid for Loungers PLC to £366.6 million ($451 million) in a bid to persuade the shareholders of the British hospitality chain to accept the offer.
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January 14, 2025
Latham Grabs Top Spot For 2024 IPOs By Large Margin
Latham & Watkins LLP guided more initial public offerings than any law firm in 2024, capturing a diverse mix of large listings for companies that seized opportunities to go public as the broader IPO market inched toward recovery, new data shows.
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January 14, 2025
Simpson Thacher, Sullivan Rep CBRE's $400M Coworking Buy
CBRE Group Inc. announced on Tuesday it will purchase coworking company Industrious National Management Company LLC for $400 million in a deal guided by Simpson Thacher & Bartlett LLP and Sullivan & Cromwell LLP.
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January 14, 2025
Macquarie, Data Center Biz Enter $5B Financing Partnership
Digital infrastructure and data center company Applied Digital Corp., advised by Lowenstein Sandler LLP, on Tuesday announced it has entered into a $5 billion financing facility with funds managed by Simpson Thacher & Bartlett LLP-led Macquarie Asset Management for its high-performance computing business.
Expert Analysis
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Supreme Court's ALJ Ruling Carries Implications Beyond SEC
In its recent Jarkesy opinion, the U.S. Supreme Court limited the types of cases that can be tried before the U.S. Securities and Exchange Commission's in-house administrative law judges, setting the stage for challenges to the constitutionality of ALJs across other agencies, say Robert Robertson and Kimberley Church at Dechert.
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Navigating Scrutiny Of Friendly Professional Corps. In Calif.
In light of ongoing scrutiny and challenges to private equity participation in the California healthcare marketplace, particularly surrounding the use of the friendly professional corporation model, management services organizations should consider implementing four best practices, say attorneys at Holland & Knight.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Proposed Customer ID Rule Could Cost Investment Advisers
A rule recently proposed by FinCEN and the U.S. Securities and Exchange Commission to make financial advisers collect more customer information parallels an anti-money laundering and counterterrorism rule proposed this spring, but firms may face new compliance costs when implementing these screening programs, say attorneys at Lowenstein Sandler.
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What 2 Rulings On Standing Mean For DEI Litigation
Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Arbitration Implications Of High Court Coinbase Ruling
The U.S. Supreme Court's recent Coinbase v. Suski ruling not only reaffirmed the long-standing principle that arbitration is a matter of contract, but also established new and more general principles concerning the courts' jurisdiction to decide challenges to delegation clauses and the severability rule, say Tamar Meshel at the University of Alberta.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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The Current State Of Healthcare Transaction Reviews In Calif.
As of April, certain healthcare transactions in California have been subject to additional notification compliance requirements, and complying with these new rules could significantly delay and discourage some deals, says Andrew Demetriou at Husch Blackwell.
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Practical Private Equity Lessons From 2 Delaware Deals
A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.