Private Equity

  • August 16, 2024

    HarbourVest Raises $18.5B Across 2 Secondary Funds

    Boston-based private equity shop HarbourVest Partners on Friday announced that it racked up $18.5 billion in investor commitments across its two latest secondary markets-focused funds, Dover Street XI and Secondary Overflow Fund V.

  • August 16, 2024

    Connecticut Litigation Highlights Of 2024: A Midyear Report

    Several high-stakes Connecticut cases came to a close in the first half of 2024, resulting in the resolution of Frontier Communications' $21.8 million feud with its ex-CEO and a $26.5 million deal for RTX Corp. subcontractors and employees who alleged that anticompetitive no-poach agreements prevented them from advancing their careers.

  • August 15, 2024

    FanDuel Co-Founders Add Scottish Claims To Suit Over Sale

    Co-founders of FanDuel have fortified their lawsuit accusing late-stage institutional investors of cheating early and longtime investors out of their fair share of equity when the company was sold in 2018, adding several claims under Scottish law.

  • August 15, 2024

    2nd Circ. Won't Revive Platinum Investors' Ch. 7 Challenge

    A New York bankruptcy court correctly refused to overturn the approval of a $2.5 million settlement in the bankruptcy of a founder of defunct hedge fund Platinum Partners, the Second Circuit ruled Thursday, finding that the approved deal was superior to an alternative offer.

  • August 15, 2024

    Conn. Couple, Cos. Clash In Waterfront Access Suit

    A married couple and several companies are battling in Connecticut state court over the companies' motion to personally examine two related Bridgeport properties and other areas in the couple's waterfront access suit.

  • August 15, 2024

    Deals Rumor Mill: Paramount, Blackstone, Starbucks

    The heir to Canadian liquor purveyor Seagram is preparing a bid for Paramount's parent company, Blackstone explores a potential $2.6 billion sale of Clarion Events, and activist investor Starboard sets sights on Starbucks. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • August 15, 2024

    Cooley Steers $1.6B Sale Of PE-Backed Campus Tech Co.

    Roper Technologies Inc. said Thursday it has agreed to purchase campus technology and payment solutions company Transact Campus Inc., which is majority-owned by Reverence Capital Partners, for $1.6 billion.

  • August 15, 2024

    Delaware Judge Sends Tracking Tech IP Dispute To California

    A Delaware federal judge sent a patent infringement suit brought by a company that sells truck driver tracking software to California federal court, questioning in her opinion whether the company "ever fully intended" to pursue its claims in the First State in the first place.

  • August 15, 2024

    Lockheed Martin Buys Satellite Maker In $450M Deal

    Global aerospace and defense company Lockheed Martin, advised by Hogan Lovells LLP, on Thursday unveiled plans to buy satellite maker Terran Orbital, led by Akin Gump Strauss Hauer & Feld LLP, in a deal that boasts an enterprise value of roughly $450 million.

  • August 15, 2024

    Carrier Wraps Strategic Exit Plan With $3B Sale Of Fire Units

    Carrier Global Corp. said Thursday it has inked an agreement to sell its commercial and residential fire units to an affiliate of Lone Star Funds at an enterprise value of $3 billion, completing the company's strategic plan to sell off several business units and focus on its core ventilation business.

  • August 15, 2024

    PE-Backed Green Energy Biz To Buy £68M Stake In Gas Plant

    U.K. renewable energy supplier Future Biogas said Thursday that it has agreed to buy a controlling stake in a gas production facilities portfolio from JLEN, an environmental infrastructure investment fund, for £68.1 million ($88 million).

  • August 14, 2024

    Synopsys Escapes Exclusivity Breach Suit At Chancery

    Delaware's Chancery Court on Wednesday dismissed private equity firm Sunstone Partners' lawsuit accusing Synopsys Inc. of breaching an exclusivity provision for a potential sale of its security testing services business, saying Sunstone failed to adequately allege Synopsys solicited proposals from other potential buyers.

  • August 14, 2024

    Tuna Price-Fixing Deal Comes With A Catch: $26M In Fish

    Two groups of buyers accusing major canned tuna producers of price-fixing have asked a California federal judge to give the first seal of approval to settlements totaling more than $168 million in cash, plus $26 million in packaged tuna products.

  • August 14, 2024

    Top Stories From Real Estate's Latest Quarterly Updates

    Catch up on the headlines made by the largest public real estate companies during their latest quarterly earnings calls with investors, from data centers and lease deals to market forecasts and casinos. 

  • August 14, 2024

    Class Split Disrupts Hearing On $8.7M Sears Suit Settlement

    A Sears Hometown and Outlet Stores stockholder that saw its share appraisal case tanked by the company's bankruptcy in late 2022 won Court of Chancery clearance Wednesday to intervene with a novel, alternative claim for recovery through a separate, ongoing SHOS class damages suit.

  • August 14, 2024

    Del. Justices Affirm $266M Atty Fee Award In Dell Class Suit

    Delaware's Supreme Court on Wednesday backed a Chancery Court decision awarding an almost record-breaking $266.7 million fee for stockholder attorneys who settled a class action against Dell Technologies Inc. for $1 billion, saying the Chancery "did not exceed its discretion in setting the fee percentage."

  • August 14, 2024

    Boeing Scraps Electric Jet Co.'s $72M Trade Secrets Trial Win

    A Washington federal judge on Wednesday canceled a $72 million jury award against The Boeing Co. for misappropriating electric jet startup Zunum Aero Inc.'s trade secrets, finding Zunum offered "only vague and amorphous descriptions" of the trade secrets at trial.

  • August 14, 2024

    Proskauer-Led PE Firm Closes $800M Tech Fund

    Software-focused private equity shop Resurgens, advised by Proskauer Rose LLP, announced Wednesday it closed a third fund after securing $800 million in investor commitments.

  • August 14, 2024

    Future Claim Question Clouds Chancery Trampoline Park Deal

    A Chancery Court settlement that would assure founding investors in a chain of trampoline parks a fair stake in the company despite a controller's allegedly self-interested loans stopped just short of approval Wednesday, with a vice chancellor seeking assurances that the deal will pass state Supreme Court muster.

  • August 14, 2024

    EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS

    European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.

  • August 14, 2024

    EliseAI Becomes 'Unicorn' After Latest $75M Fundraise

    EliseAI, a conversational artificial-intelligence platform focused on the housing industry, on Aug. 14 announced it had reached "unicorn" status after the successful close of a $75 million Series D funding round.

  • August 14, 2024

    Squarespace Shareholder Opposes $6.9B Go-Private Deal

    Squarespace Inc. minority shareholder Glazer Capital LLC on Wednesday announced its intent to vote against the company's planned $6.9 billion buyout by private equity giant Permira, saying it has "serious concerns" about the fairness and integrity of the sale process.

  • August 14, 2024

    Skadden, Davis Polk Guide $2.1B US Food Service Deal

    Skadden-led Performance Food Group Co. said Wednesday it has agreed to purchase private equity-backed food service distributor Cheney Bros. Inc., represented by Davis Polk, for $2.1 billion in cash.

  • August 14, 2024

    Brewers Owner Implicated In Fight Over Stolen Beach Sand

    The principal owner of the Milwaukee Brewers has been drawn into a testy dispute accusing one of his companies of stealing public beachfront sand in Malibu, California, and using it to build out a nearby private development.

  • August 13, 2024

    Anesthesia Co. Says FTC Lacks Authority To Bring 'Rollup' Suit

    U.S. Anesthesia Partners has told the Fifth Circuit the Federal Trade Commission lacks authority to bring its case directly in federal court without also filing an administrative case accusing the group of monopolizing the Texas anesthesiology market.

Expert Analysis

  • Series

    ESG Around The World: Gulf Cooperation Council

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    The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • 9 Considerations For Divestitures, Carveouts And Spinouts

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    Amid new economic optimism, data protection, transitional services and seven other considerations can help legal practitioners untangle complex divestitures, carveouts and spinouts to unlock value for corporate sellers, say Kimberly Petillo-Décossard and Kristen Rohr at White & Case.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Predicting DeFi Regulations At Home And Abroad In 2024

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    Though decentralized finance has advocates on both sides of the Atlantic in figures like U.S. SEC Commissioner Hester Peirce and U.K. Prime Minister Rishi Sunak, DeFi in 2024 seems likely to be folded into existing regulatory frameworks in the U.K. and EU, while anti-crypto scrutiny may discourage DeFi’s growth in the U.S., say Daniel Csefalvay and Eric Martin at BCLP.

  • Planning For Stymied HSR Filings At FTC If Shutdown Occurs

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    If the government were to shut down in early March, the inability to submit Hart-Scott-Rodino filings with the Federal Trade Commission would grind transactions to a halt, and parties should consider numerous implications as they are negotiating or planning to close pending transactions, say attorneys at DLA Piper.

  • Challenges Remain In Financing Energy Transition Minerals

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    COP28, the latest U.N. climate conference, reached a consensus on a just and equitable transition from fossil fuels to renewable energy, but more action and funding will be needed to ensure that developed countries responsibly source the minerals that will be critical for this process, say attorneys at Watson Farley.

  • Loan Transparency Proposals May Bring Some Clarity

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    U.S. banking regulators' proposed revisions to rules that would require banks to disclose more granular information about loans made to nondepository financial institutions would somewhat clarify the size of the fund finance market, though full enlightenment does not look likely in the near future, says Chris van Heerden at Cadwalader.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Navigating New Regulations In Healthcare And Other M&A

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    While notice requirements recently enacted in several states are focused on the healthcare industry for now, this trend could extend to other industries as these requirements are designed to allow regulators to be a step ahead and learn more about a transaction long before it occurs, say Kathleen Premo and Ashley Creech at Epstein Becker.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • Opinion

    3rd-Party Financiers Have Power To Drive Mass Tort Cases

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    The abnormal recovery premium presented by modern mass tort cases coupled with their deemphasized role for attorneys creates an opportunity for third-party financiers to both create and control these cases, says Samir Parikh at Lewis & Clark Law School.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

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    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

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