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Private Equity
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January 24, 2025
Chinese Co. Buys Stake In Amp Maker Marshall In $1.2B Deal
Chinese private equity firm HongShan Capital Group has agreed to purchase a majority stake in the Marshall Group, in a deal that values the maker of guitar amplifiers and speaker cabinets at EU1.1 billion ($1.16 billion), Marshall said Friday.
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January 24, 2025
Taxation With Representation: Latham, Simpson Thacher
In this week's Taxation With Representation, a Brookfield private real estate fund acquires Divvy Homes' property portfolio and platform, Kantar Group proposes the sale of Kantar Media, and an Ares Management-led group buys a majority of Form Technologies Inc.'s common equity.
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January 24, 2025
'Secret Plot' Drove Perella Weinberg Split, Judge Hears
A New York state judge heard dueling claims of deception on Friday as counsel for investment banking firm Perella Weinberg and a group of former partners each accused the other of a "secret plot" that violated their partnership agreement, kicking off a trial centering on a sudden split in the firm a decade ago.
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January 24, 2025
Blackstone To Buy $1B Power Plant In Va. Data Center Mecca
Blackstone, advised by Kirkland & Ellis LLP, plans to purchase a natural gas power plant in Loudoun County, Virginia — a region known for having the biggest data center market in the world — for $1 billion from Latham & Watkins LLP-led Ares Management, according to a source familiar with the matter.
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January 24, 2025
Venture-Backed IPO Recovery Could Be Muted, Report Says
The expected recovery for venture-backed initial public offerings in 2025 will likely be muted, a capital markets research firm said Friday, given investors' persistent concerns about valuation and delayed interest rate cuts that may not happen until midyear.
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January 23, 2025
Davis Polk, Skadden Steer LNG Exporter's $1.8B IPO
Liquefied natural gas exporter Venture Global Inc. on Thursday priced an estimated $1.8 billion initial public offering within its downwardly revised range, represented by Davis Polk & Wardwell LLP and underwriters counsel Skadden Arps Slate Meagher & Flom LLP.
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January 23, 2025
Conn. High Court Snapshot: Atty's Bonus, Burn Verdict
In its next term starting Monday, the Connecticut Supreme Court will hear an appeal from an acupuncturist who doesn't want to share liability for a judgment paid to a burn victim, and consider whether to reverse a seven-figure verdict for a private equity management firm's founder, who claims other members improperly cut him out.
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January 23, 2025
AI Chatbot Co. CEO, Atty Spouse Indicted On $60M Fraud
Federal prosecutors in California arrested the former CEO of an artificial intelligence company Thursday alongside his lawyer wife, accusing the duo of a $60 million fraud scheme in which they allegedly lied to investors about the company's financial state and diverted funds to pay for their wedding.
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January 23, 2025
Conn. Lawmakers Target Healthcare After Hospital's Ch. 11
In the lead-up to and aftermath of California hospital operator Prospect Medical Holdings Inc.'s $1 billion bankruptcy, Connecticut lawmakers are considering new regulatory powers, promising and penning oversight bills for hospitals owned by private equity firms and real estate trusts while seeking to stabilize the state's healthcare markets.
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January 23, 2025
Chinese Ride Co. Ordered To Produce Regulator Testimonies
A New York federal judge ordered Chinese ride-hailing giant Didi Global Inc. to provide testimony about its interactions with Chinese regulators before its 2021 initial public offering, rejecting the company's claim that Chinese law prevents disclosure.
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January 23, 2025
Chancery Tosses Suit Challenging $10.2B Zendesk Sale
Rejecting stockholder claims of misstated or omitted deal terms, a Delaware vice chancellor on Wednesday dismissed a suit accusing managers of software-as-a-service venture Zendesk Inc. of taking the company private at a $10.2 billion price far below earlier offers.
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January 23, 2025
Spotless Brands' Sale Could Make Splash, And More Rumors
Owners of Spotless Brands are seeking to sell the car-wash operator for $3 billion, while more overseas companies are preparing U.S. initial public offerings, including Chinese self-driving systems maker Inceptio Technologies and Israel-based cryptocurrency trading platform eToro. Here, Law360 breaks down the notable deal rumors from the past week.
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January 23, 2025
Latham-Led Brookfield Buying Divvy Homes For $1B
A Brookfield private real estate fund has agreed to acquire Divvy Homes' property portfolio and platform for approximately $1 billion, with an expected close in mid-February, the companies announced Wednesday.
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January 23, 2025
Kirkland-Led Francisco Partners Wraps Credit Fund At $3.3B
Kirkland & Ellis LLP-advised Francisco Partners revealed Thursday that it clinched its third opportunistic credit fund above target after securing $3.3 billion from investors.
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January 23, 2025
Greenlight CLO Rejoins Nelson Mullins As Corporate Co-Chair
The former chief legal officer at family-oriented personal finance company Greenlight Financial Technology Inc. has rejoined Nelson Mullins Riley & Scarborough LLP in Atlanta to co-chair the firm's corporate practice group.
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January 23, 2025
Bain Matches CC Capital's Rival Bid For Insignia Financial
Bain Capital has submitted a revised bid of more than $1.9 billion for Australia's Insignia Financial Ltd., matching an earlier revised offer submitted by fellow U.S. private equity firm CC Capital Partners just days ago, Insignia said Thursday.
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January 22, 2025
Del. Justices Probe $10.4B Anaplan-Thoma Bravo Deal
The Delaware Supreme Court on Wednesday repeatedly asked attorneys what Anaplan Inc.'s officers needed to tell shareholders before they voted on the company's $10.4 billion sale to private equity firm Thoma Bravo, probing what sorts of disclosures would be required under the First State's so-called Corwin doctrine.
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January 22, 2025
Waste Co. Says Ex-Director Used Secret Info For Sabotage
Commercial waste management company RTS has accused a former board director in Delaware Chancery Court of misusing its confidential information and deliberately sabotaging the business to try to force a cheap sale to the ex-director's private equity firm.
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January 22, 2025
Space Explorer Voyager Technologies Confidentially Files IPO
Defense and space exploration company Voyager Technologies Inc. said Wednesday it has confidentially filed plans for an initial public offering, marking the second company from the industry to join the IPO pipeline this week and potentially benefiting from increased government funding for space travel.
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January 22, 2025
Paul Weiss Guides Ares On $304M Form Technologies Buy
Paul Weiss is guiding an Ares Management-led group on the $304 million purchase of a majority of Form Technologies Inc.'s common equity, in a transaction that allows Kirkland & Ellis LLP-advised Form to "substantially deleverage" its balance sheet, Form said Wednesday.
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January 22, 2025
Cooley-Led Insulin Device Maker Preps $113M IPO
Insulin delivery system maker Beta Bionics on Wednesday announced the terms for its initial public offering, planning to raise $113 million.
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January 22, 2025
Mounting Pressure For PE Exits To Drive IPO Volume In 2025
Private equity-backed companies will generate nearly half of initial public offerings in 2025, analysts predicted on Wednesday, driven by a growing demand for exit strategies among investors that have owned stakes in companies for lengthy periods.
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January 22, 2025
Novacap Lands Over $1B For Digital Infrastructure Fund
North American private equity shop Novacap, advised by Davies Ward Phillips & Vineberg LLP, on Wednesday announced that it clinched its first fund dedicated solely to digital infrastructure investing after securing more than $1 billion from investors.
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January 22, 2025
Saudi Wealth Fund Selling Biz Service Firm In $907M Deal
Saudi Arabia's Public Investment Fund said Wednesday it has agreed to sell business services and digital solutions firm Thiqah to Elm Company, a Saudi Arabian digital security firm, in a deal valued at $907 million.
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January 21, 2025
Bacon Giant Smithfields Leads 3 IPOs Primed To Exceed $1B
Bacon maker Smithfields Foods Inc. led a trio of companies unveiling price ranges for initial public offerings Tuesday that could raise $1.3 billion combined over the next week, with 10 law firms guiding the IPOs in various capacities.
Expert Analysis
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Why Asset-Based Loans May Suit PE Companies In 2025
As the prospect of higher tariffs and interest rates expands the need for liquidity, private equity investors would do well to explore the timing and provisions of asset-based loans offered in the burgeoning credit-fund sector, say attorneys at McDermott.
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Changes To Expect From SEC Under Trump Nominee
President-elect Donald Trump's nomination of Paul Atkins for U.S. Securities and Exchange Commission chair will likely lead to significant shifts in the Division of Enforcement's priorities, likely focused on protecting retail investors and the stability of the capital markets, say attorneys at Morrison Foerster.
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A Look At SEC, CFTC's Record Year For Whistleblower Awards
Another banner year shows that the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission have developed the gold standard for whistleblower award programs, but a CFTC funding crisis threatens to derail that program's success, say Andrew Feller and Geoff Schweller at Kohn Kohn.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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Strategies For Home Equity Investment Providers In 2025
The home equity investment product market is thriving even amid consumer concerns, regulatory scrutiny and conflicting court decisions, setting the stage for a promising but challenging environment for providers in 2025, say attorneys at Sheppard Mullin.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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From Football To Pickleball, Sports Investing Evolved In 2024
The NFL's decision to allow private-equity investments in football franchises capped off a transformative year in U.S. sports that also included landmark PE transactions in emerging sports ranging from women's soccer to pickleball, say attorneys at Weil.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Preparing For The New Restrictions On Investment Into China
In light of a new regulatory program governing U.S. investments in China-related technology companies of national security concern, investors should keep several considerations in mind, including the rules' effect on existing and new investments, compliance hurdles, and penalties for noncompliance ahead of the rules' January implementation, say attorneys at Gunderson Dettmer.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Back To The Future? Antitrust Enforcement Under Trump 2.0
While the transition to the second Trump administration's antitrust policy should be accompanied by less uncertainty, we're unlikely to get a full sense of the true focus and tenor of competition enforcement under Trump 2.0 before late next year, say attorneys at Simpson Thacher.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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SEC Custody Rule Creates Crypto Compliance Conundrum
While the U.S. Securities and Exchange Commission's application of the custody rule may be a good faith attempt to enhance consumer protections for client assets, it doesn't appreciate the unique characteristics of crypto-assets, forcing advisers to choose between pursuing their clients' objectives and complying with the rule, say attorneys at Willkie.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.