Private Equity

  • September 12, 2024

    Bird & Bird Recruits M&A Partner In Frankfurt Amid Growth

    Bird & Bird LLP has hired a business expert as a partner in Frankfurt as the firm bolsters its growing corporate practice internationally, with a keen eye on its new office in Japan.

  • September 05, 2024

    CVC Raises €7.4B Of Capital In 1st Results After Listing

    European private equity firm CVC Capital Partners PLC said Thursday that it has raised €7.4 billion ($8.2 billion) in fresh capital during the first six months of 2024 as it published its first set of results since its €2 billion flotation in Amsterdam.

  • September 04, 2024

    SEC Lets Deadline Pass For 5th Circ. Private Funds Appeal

    The U.S. Securities and Exchange Commission won't challenge a Fifth Circuit decision that vacated its recently passed disclosure rules for private fund advisers, taking no action as its deadline to appeal to the U.S. Supreme Court passed.

  • September 04, 2024

    PE Advisers Flouted Registration Requirements, SEC Says

    A pair of Florida-based private equity advisers and their CEO have agreed to settle U.S. Securities and Exchange Commission allegations that they broke federal securities laws by improperly declaring themselves exempt from registering as advisers to private funds, according to the agency.

  • September 04, 2024

    Icahn Enterprises Investor Sues Alleging 'Ponzi-Like' Scam

    An Icahn Enterprises LP investor hit the partnership's billionaire founder Carl Icahn and its board with a derivative suit in Florida federal court Tuesday, accusing them of hiding "highly significant" risks, including the partnership's alleged "Ponzi-like" structure, which purportedly inflated its price and exposed it to regulatory probes and litigation.

  • September 04, 2024

    Cheer Parents Request $35M In Fees, Costs For Antitrust Deal

    Three moms that reached an $82.5 million settlement with Varsity Brands in litigation claiming the cheerleading giant stifled competition and raised participation costs asked a Tennessee federal court Wednesday for $35 million of that fund to pay their attorneys' fees and costs.

  • September 04, 2024

    Ex-CEO Sues Ferry Co.'s Private-Equity Buyer

    The former CEO of a company that operates a ferry service has told a Michigan federal court that he was wrongly terminated and then badmouthed by the company's new private-equity owners.

  • September 04, 2024

    Apollo Defends $570M Controller Deal In Chancery Suit

    An attorney for Apollo Global Management Inc. pushed back Wednesday in Delaware's Court of Chancery on stockholder claims that former company chairman and former CEO Leon Black and two others dominated the business in the runup to a $570 million payout to the three insiders in 2021.

  • September 04, 2024

    Orrick-Led Epam Systems Buys Neoris In $630M Cash Deal

    Orrick Herrington & Sutcliffe LLP-steered software engineering business Epam Systems Inc. will acquire Miami-based advanced technology company Neoris for $630 million in cash, the companies announced Wednesday.

  • September 04, 2024

    Fintech Investor Tries To Undo 'Formulistic' Nix Of NCino Suit

    A pension fund invested in financial technology company nCino Inc. urged Delaware's Supreme Court on Wednesday to revive its suit against company directors and investment firm Insight Venture Partners over a $1.2 billion acquisition, arguing the Chancery Court "missed the mosaic for the tiles" by dismissing the case.

  • September 04, 2024

    Nordstrom Family Makes Takeover Offer, Valuing Biz At $3.8B

    Nordstrom Inc. confirmed Wednesday that it received a proposal from a group that includes its CEO Erik Nordstrom and brother Pete to acquire the company for $23 per share in cash, which values the company around $3.8 billion.

  • September 04, 2024

    Kirkland-Led Warburg Pincus Lands $4B For Latest Fund

    Kirkland & Ellis-advised investment firm Warburg Pincus has closed its Capital Solutions Founder Fund, securing commitments of more than $4 billion to pursue research-based opportunities in the market less than a year after closing its largest fund ever, according to a Wednesday announcement.

  • September 04, 2024

    Simpson Thacher-Led Blackstone Inks $16.2B AirTrunk Deal

    Simpson Thacher & Bartlett LLP-led Blackstone Inc. said Wednesday it has agreed to acquire AirTrunk, an Australia-based data center platform focused on the Asia-Pacific region, from Macquarie Asset Management and the Public Sector Pension Investment Board at an implied enterprise value of over AU$24 billion ($16.2 billion).

  • September 04, 2024

    Investment Biz Sells Stake In UK Rival For Up To $258M

    Petershill Partners PLC, an investment business operated by Goldman Sachs, said Wednesday it has completed the sale of its entire stake in investment manager LMR Partners in a deal worth up to $258 million.

  • September 04, 2024

    Investors Get 3rd Extension For £253M Bid For Payments Co.

    Payments technology company Equals said Wednesday that the Panel on Takeovers and Mergers has granted its request to extend a deadline for the third time for a consortium of investors to confirm or cancel their proposed £253 million ($332 million) takeover bid.

  • September 04, 2024

    Mishcon Helps Starwood Capital Buy UK REIT For £674M

    U.S. investment firm Starwood Capital Group said Wednesday that it will buy a British real estate investment trust for £674 million ($884 million), hoping it will perform better as a private company after facing challenges in a tough property market.

  • September 03, 2024

    PE Firm Investors Say False SEC Filings Caused Big Losses

    Private equity firm Migom Global Corp., its subsidiary bank and its CEO have been named in a proposed securities class action alleging they inflated financial statements filed with the U.S. Securities and Exchange Commission to conceal their diversion of tens of millions of dollars in customer deposits to personal ventures.

  • September 03, 2024

    Aspire Biopharma Inks SPAC Deal At $316M Valuation

    Aspire Biopharma Inc., advised by Sichenzia Ross Ference Carmel LLP, on Tuesday announced that it will go public through a merger with special purpose acquisition company PowerUp Acquisition Corp., led by Dykema Gossett PLLC, in a transaction that values the business at a pre-money equity value of roughly $316 million.

  • September 03, 2024

    Adviser Lied About Wall Street Skyscraper Digs, SEC Says

    A purported $10 million private fund investment adviser faces U.S. Securities and Exchange Commission allegations that it lied about being a public company with an office on Manhattan's Wall Street as part of a filing in which it claimed registration exemption.

  • September 03, 2024

    Kirkland Brings On Ex-Goldman Sachs Debt Finance Pro In NY

    Kirkland & Ellis LLP said Tuesday it has added an experienced debt finance partner in New York who most recently worked as a managing director for Goldman Sachs, in the firm's latest move to bulk up its structured finance and structured private credit practice.

  • September 03, 2024

    Cozen O'Connor Adds 13 Clark Wilson Lawyers In Vancouver

    Cozen O'Connor announced on Tuesday that it has expanded its Canadian presence by adding a team of 22 legal professionals, including 13 lawyers and nine support staff, from Clark Wilson LLP to its fast-growing Vancouver office.

  • September 03, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's court of equity, an iconic rock band got a new member, former President Donald Trump's social media company escaped a contempt ruling, and litigation grew over Illumina Inc.'s $8 billion reacquisition of cancer-testing company Grail Inc. New cases touched on intellectual property, mergers, share transfers and dump trucks. In case you missed it, here's the latest from Delaware's Court of Chancery.

  • September 03, 2024

    Paul Weiss Adds Ex-Fried Frank Atty To Lead Fund Finance

    Paul Weiss Rifkind Wharton & Garrison LLP has added an asset management specialist previously with Fried Frank Harris Shriver & Jacobson LLP as head of its fund finance group, the firm announced Tuesday.

  • September 03, 2024

    Bain One-Ups KKR's $4B-Plus Bid In Battle For Fuji Soft

    Private equity firm Bain Capital said Tuesday that it made a nonbinding offer to take Fuji Soft private, as Bain pushed the Japanese software developer to open up formal discussions for the $4 billion-plus tender offer so it has a chance to beat out rival bidder KKR.

  • September 03, 2024

    Semnur Pharmaceuticals To Go Public Via $2.5B SPAC Merger

    Paul Hastings LLP-advised Semnur Pharmaceuticals Inc. on Tuesday unveiled plans to go public via a merger with Winston & Strawn LLP-led blank check company Denali Capital Acquisition Corp. in a deal that gives the pharmaceutical company a pre-transaction equity value of $2.5 billion.

Expert Analysis

  • Mitigating Incarceration's Impacts On Foreign Nationals

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    Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.

  • Exploring An Alternative Model Of Litigation Finance

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    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Pay-To-Play Deal Shows Need For Strong Compliance Policies

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    The U.S. Securities and Exchange Commission, through its recent settlement with Wayzata, has indicated that it will continue stringent enforcement of the pay-to-play rule, so investment advisers should ensure strong compliance policies are in place to promptly address potential violations as the November elections approach, say attorneys at WilmerHale.

  • 7 Effects Of DOL Retirement Asset Manager Exemption Rule

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    The recent U.S. Department of Labor amendment to the retirement asset manager exemption delivers several key practical impacts, including the need for managers, as opposed to funds, to register with the DOL, say attorneys at Ropes & Gray.

  • Standardizing Early Case Appraisal In Securities Class Actions

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    While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.

  • Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

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    The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

  • 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.

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