Private Equity

  • August 29, 2024

    SEC Says PE Firm Ran $3.3M Real Estate Investment Scam

    The U.S. Securities and Exchange Commission has filed a suit in California federal court accusing a private equity firm and its managing partner, who was previously convicted of financial crimes, of fraudulently raising $3.3 million through a Ponzi-like real estate investment scheme.

  • August 29, 2024

    Ex-SPAC Agrees To Face 'Springing Penalty' In SEC Case

    Former blank check company National Energy Services Reunited Corp. has agreed to pay the U.S. Securities and Exchange Commission $400,000, with a potential additional penalty of $1.2 million if it doesn't undertake certain remediation efforts, over alleged financial reporting and controls failures stemming from its acquisition of 2 companies.

  • August 29, 2024

    DLA Piper Steers Tech-Focused SPAC GigCapital's Latest IPO

    GigCapital7 Corp., the latest special-purpose acquisition company led by technology-focused entrepreneur Avi Katz, began trading Thursday after completing a downsized initial public offering that raised $200 million, represented by DLA Piper and underwriters' counsel Lucosky Brookman LLP.

  • August 29, 2024

    Coding Platform Hits Unicorn Status After $150M Fundraise

    Artificial intelligence-powered code acceleration platform Codeium, advised by Wilson Sonsini Goodrich & Rosati PC, on Thursday revealed that it reached unicorn status in less than two years from its inception after closing its latest funding round with $150 million in tow.

  • August 29, 2024

    Deals Rumor Mill: Ackman IPO, Covestro Takeover, Trinitech

    Bill Ackman is reviving plans for an initial public offering of his new closed-end fund, Abu Dhabi National Oil Company is inching closer to launching a takeover of plastics company Covestro, and private equity owners are exploring a $2 billion sale of financial software firm Trintech. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • August 29, 2024

    4 Firms Guide VivoPower Subsidiary's $904M SPAC Merger

    Electric utility vehicle company Tembo E-LV on Thursday announced that it has agreed to merge with special purpose acquisition company Cactus Acquisition Corp. 1 Ltd. in a deal built by four law firms that values the combined business at $904 million.

  • August 29, 2024

    Kirkland Guiding Oneok On $5.9B Energy Infrastructure Deals

    Kirkland & Ellis LLP is guiding Oneok Inc. on agreements to purchase Global Infrastructure Partners' interest in EnLink Midstream LLC for $3.3 billion, and GIP's interest in Medallion Midstream LLC for $2.6 billion, expanding Oneok's energy transport and storage capabilities in the Permian Basin and Gulf Coast, the company said in a statement Thursday. 

  • August 28, 2024

    Cooley, Latham Steer Defense Co.'s $80M VC Funding Round

    Parry Labs announced Wednesday that the Virginia-based defense technology company, represented by Cooley LLP, has raised $80 million in its first institutional investment round fueled by Capitol Meridian Partners, represented by Latham & Watkins LLP, and other venture capital firms.

  • August 28, 2024

    Businessman Can't Force $1B Gramercy Suit Into Arbitration

    A Wyoming federal judge has ruled that Gramercy Funds Management will not have to arbitrate its racketeering lawsuit accusing a Ukrainian businessman of fraudulently transferring more than a billion dollars from his agricultural business, a debtor of the Connecticut-based hedge fund.

  • August 28, 2024

    High Court Told Tyvaso Row Petition Based On 'False' Premise

    A small pharmaceutical startup behind a drug that would compete with the blockbuster high blood pressure treatment Tyvaso says United Therapeutics is making a "fundamentally false" argument to the U.S. Supreme Court about why an appeals court rejected United Therapeutics' case.

  • August 28, 2024

    The NFL-Approved PE Firms That Can Now Invest In Teams

    The NFL made a landmark decision Tuesday to approve private equity ownership of teams, making it the last major North American sports league to bring PE dollars into the mix. It’s not a free-for-all, however; to start, the league selected specific funds that are now allowed to take non-controlling interests in teams. Here, Law360 looks at the approved investment players.

  • August 28, 2024

    Greenberg Traurig Builds PE Team With Kirkland Hires

    Greenberg Traurig LLP has brought on two fund formation partners from Kirkland & Ellis LLP to continue its growth into the private equity space, according to an announcement this week by the firm.

  • August 28, 2024

    Latham Leads Entertainment-Focused SPAC's $150M Offering

    Shares of special purpose acquisition company Black Spade Acquisition II Co., which plans to seek a merger target in the entertainment, lifestyle or technology industries, began trading on the Nasdaq on Wednesday following the company's $150 million initial public offering.

  • August 28, 2024

    John Wood To Sell Siemens JV And US Biz For $165M

    John Wood said Wednesday that it has agreed to sell two of its noncore businesses in two separate deals, including one with Davis Polk & Wardwell LLP-led private equity firm One Equity Partners LP for total proceeds of £165 million ($218 million).

  • August 27, 2024

    Electric Jet Co. Grounds Investor Suit Over SPAC Disclosures

    Investors in German aerospace company Lilium have failed to adequately allege that the company lied about its electric jet production efforts as it went through a $3.3 billion go-public merger with a special purpose acquisition company, a Florida federal judge determined in permanently tossing the suit.

  • August 27, 2024

    Del. Court Nixes Trump Media Contempt Bid In Share Suit

    A Delaware vice chancellor declined on Tuesday to find Donald Trump's social media venture in contempt for suing in Florida to block the release of two Trump Media & Technology Group founders' shares, while the same founders are battling for the stock in the Court of Chancery.

  • August 27, 2024

    4 Firms Build Sixth Street's $250M Industrial REIT Investment

    Sixth Street Partners plans to invest $250 million into Plymouth Industrial REIT through a joint venture and preferred equity deal packaged by four law firms, seeing more opportunities with the real estate investment trust on the horizon, according to an announcement Aug. 27.

  • August 27, 2024

    NFL To Allow PE Ownership, Joining Pro Sports League Peers

    The National Football League's status as the last major North American sports league barring private equity investment in team ownership ended on Tuesday, when the owners approved changes in policy to allow such investment for the first time.

  • August 27, 2024

    Nasdaq Seeks SEC's Green Light To Launch Bitcoin Options

    The Nasdaq stock exchange said Tuesday it is seeking regulatory approval to allow the listing of an options tool that tracks the price of bitcoin, a move designed to expand institutional and retail trading of cryptocurrency-related assets.

  • August 27, 2024

    Winston & Strawn Hires Morgan Lewis Healthcare Partner

    An attorney specializing in healthcare law recently moved to Winston & Strawn LLP's Houston office after practicing for nearly five years at Morgan Lewis & Bockius LLP.

  • August 27, 2024

    Cribl Valued At $3.5B After $319M Series E Funding Round

    Data engine company Cribl Inc., advised by Cooley LLP, on Tuesday announced that it reached a $3.5 billion valuation after successfully closing its oversubscribed Series E funding round with $319 million in investor commitments.

  • August 27, 2024

    3 Firms Build $314M Events.com SPAC Merger

    Event management platform Events.com plans to go public by merging with Concord Acquisition Corp. II at an estimated $314 million value, both parties announced on Tuesday, through a deal guided by three law firms.

  • August 27, 2024

    Duane Morris Hires Ex-Dickinson Wright Fintech Expert

    A former financial institutions mergers and acquisitions and regulatory enforcement partner from Dickinson Wright PLLC who also has experience at the Federal Reserve Bank has joined Duane Morris LLP's corporate practice group in Chicago.

  • August 27, 2024

    Willkie-Led LS Power Secures $2.7B For Latest Fund

    Energy infrastructure-focused investment firm LS Power Group, led by Willkie Farr & Gallagher LLP, on Tuesday said that it clinched its fifth fund with $2.7 billion of investor commitments in tow.

  • August 26, 2024

    Bronfman Scraps Paramount Bid, Paving Way For Skydance

    Media executive Edgar Bronfman Jr. has dropped his reported $6 billion bid to buy Paramount Global just days after the offer was disclosed, opening a path for Paramount to close its merger agreement with Skydance Media.

Expert Analysis

  • 10 Tips For ESG Disclosure Compliance In Private Funds

    Excerpt from Practical Guidance
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    As regulators increase scrutiny of misleading claims about environmental, social and governance investments, private fund sponsors should consider several practical tips for communicating accurately with potential investors, drafting comprehensive disclosures and establishing internal policies that can keep pace with evolving compliance requirements, says Jonathan Rash at Ropes & Gray.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Opinion

    Post-Moelis Del. Corp. Law Proposal Would Hurt Stockholders

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    The proposed Delaware General Corporation Law amendment in response to the Court of Chancery's recent opinion in West Palm Beach Firefighters' Pension Fund v. Moelis would upend the foundational principle of corporate law holding that directors govern corporations in the interest of stockholders — and the potential harm would be substantial, say attorneys at Block & Leviton.

  • Management Incentives May Be Revisited After PE Investment

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    As the economic climate shifts, key parties in private equity investment transactions may become misaligned, and management incentive plans could become ineffective — so attentive boards may wish to caucus with management to evaluate continued alignment, say Austin Lilling and Nida Javaid at Morgan Lewis.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • A Look At Recent Challenges To SEC's Settlement 'Gag Rule'

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    Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.

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