Private Equity

  • September 30, 2024

    Latham, Davis Polk Steer AI-Focused Chipmaker's IPO

    Silicon Valley-based artificial intelligence startup Cerebras on Monday filed plans for an initial public offering with the U.S. Securities and Exchange Commission, hoping to tap investors' enthusiasm for AI-linked companies, and with Latham & Watkins LLP and Davis Polk & Wardwell LLP guiding the process.

  • September 30, 2024

    Private Trading Platform Scraps SPAC Merger In Favor Of IPO

    Special-purpose acquisition company Blockchain Coinvestors Acquisition Corp. I said Monday that its merger agreement with private investment platform Linqto Inc. has been terminated, while Linqto separately announced it will go public through an initial public offering instead.

  • September 30, 2024

    Chancery Sidelines Squarespace Merger Doc Suit For Now

    A Delaware Court of Chancery action to compel stockholder access to website builder Squarespace Inc.'s corporate records remained under a stay Monday, after a court finding that the suit aimed to preserve future review rights focused on a proposed $7.2 billion company take-private deal.

  • September 30, 2024

    Activist Investor Urges Basic-Fit Gym Operator To Sell

    Buckley Capital Management LLC made an appeal to the board of Basic-Fit NV on Monday recommending that the company undergo a strategic review with the intention of selling the business and going private.

  • September 30, 2024

    Ropes & Gray, Kirkland Guide PE-Backed Education Co.'s IPO

    Private equity-financed early childhood education provider KinderCare announced Monday it plans to go public in an estimated $600 million initial public offering, with Ropes & Gray representing the company and Kirkland serving as counsel for the underwriters, leading one of two companies scheduled to price their IPOs next week.

  • September 30, 2024

    Morgan Stanley Investment Arm Nabs $750M For Climate Fund

    Morgan Stanley's investment management arm revealed Monday that its climate private equity fund, which is focused on investing in North American and European companies working to avoid or remove one gigaton of carbon dioxide-equivalent emissions from the atmosphere, closed at $750 million of equity capital commitments.

  • September 30, 2024

    PE-Backed IT Provider Ingram Micro Files Long-Awaited IPO

    Private equity-owned technology company Ingram Micro made public its U.S. initial public offering filing Monday, more than two years after the Irvine, California-based electronics distributor laid the foundation for its return to stock markets.

  • September 30, 2024

    Marsh McLennan Paying $7.75B For McGriff Insurance

    New York-based global professional services group Marsh McLennan said Monday it has agreed to buy insurance brokerage McGriff Insurance Services, an affiliate of TIH Insurance Holdings, for $7.75 billion in a deal that included guidance from Troutman Pepper, Wachtell Lipton and Simpson Thacher. 

  • September 30, 2024

    Steward Health CEO Sues Senate Panel After Contempt Vote

    The outgoing CEO of embattled Steward Health Care on Monday sued members of Congress who voted earlier this month to hold him in contempt for defying their subpoena to testify at a hearing into the downfall of the bankrupt hospital chain he heads.

  • September 30, 2024

    5 Firms Guide DirecTV, Dish On $10B Debt Exchange Merger

    DirecTV said Monday it has agreed to purchase EchoStar's video distribution business Dish DBS, including Dish TV and Sling TV, for a nominal $1 while absorbing nearly $10 billion worth of its debt, in a rare debt exchange-driven megadeal that is being led by at least five law firms. 

  • September 27, 2024

    Early Trump Media Backer Dumps Shares As Lockup Expires

    An early investor in former President Donald Trump's social media platform has unloaded most of its stake, marking the first divestiture following the expiration of a lockup period that restricted sales after Trump's entity went public earlier this year.

  • September 27, 2024

    'Varsity Blues' Suit Flips The Script On 'Victim' USC

    The University of Southern California could be forced to reveal unseemly details of its admissions process if it can't beat or settle a $75 million suit filed by a private equity executive who blames the school for his being ensnared in the "Varsity Blues" college admissions scandal, experts told Law360.

  • September 27, 2024

    Off The Bench: College Sports Dominates Legal Landscape

    In this week's Off The Bench, the NCAA and the athletes in the big name, image and likeness settlement try to redo the terms to satisfy the overseeing judge, Reggie Bush says his image has been exploited by his alma mater and the NCAA for years, and the Pac-12 claims that it's being strong-armed by a rival conference for coaxing away its teams.

  • September 27, 2024

    Alvarez & Marsal Tax Appoints Former Weil Official

    Alvarez & Marsal's tax affiliate announced it has appointed a former Weil Gotshal & Manges LLP executive as a senior official for the firm's compensation and benefits practice.

  • September 27, 2024

    Life Sciences Firms Energize IPO Market As Recovery Builds

    Initial public offerings are closing the year's third quarter on an upswing, led mostly by pre-revenue drug developers and select large companies that are seizing opportunities in friendlier capital markets buoyed by interest-rate cuts, generating momentum that experts say could carry over into next year.

  • September 27, 2024

    Polsinelli Adds Debt Finance Shareholder In Denver

    Polsinelli PC has boosted its transaction services in Denver with the addition of an attorney specializing in private credit who moved his practice after two years with Michael Best & Friedrich LLP.

  • September 27, 2024

    Chicago Tribune Journalists Say Pay Bias Suit Can Continue

    Chicago Tribune journalists told an Illinois federal court that they supported their claims that the paper and its parent Alden Global Capital paid them less because of their sex and race, urging the court to not engage in a motion to dismiss.

  • September 27, 2024

    Ault Disruptive To Dissolve After Failing To Ink SPAC Deal

    Blank check company Ault Disruptive Technologies Corp. said on Friday that it plans to dissolve and liquidate because it will not be able to complete an initial business combination before Dec. 20.

  • September 27, 2024

    Ill. Justices Won't Hear Baker McKenzie's London Transfer Bid

    Illinois' top court has declined to take on a petition from Chicago-based Baker McKenzie urging the justices to send to London a malpractice suit accusing the firm of botching a client's bid to reacquire a Russian coal mine.

  • September 27, 2024

    Taxation With Representation: Kirkland, Skadden, Cleary

    In this week's Taxation With Representation, Blackstone and Vista Equity Partners acquire Smartsheet Inc., Macquarie Asset Management takes a stake in D.E. Shaw Renewables Investment Group, and Apogee Enterprises Inc. buys UW Interco LLC from Heartwood Partners.

  • September 27, 2024

    Fried Frank-Led StepStone Clinches $7.4B Secondaries Fund

    Private equity shop StepStone Group Inc., advised by Fried Frank Harris Shriver & Jacobson LLP, on Friday announced that it clinched its fifth secondaries opportunities fund and separate related accounts with around $7.4 billion of total investor commitments.

  • September 26, 2024

    SEC Accuses NC Business Owner Of $28M Ponzi-Like Fraud

    The U.S. Securities and Exchange Commission has filed a suit in North Carolina federal court accusing an investment firm owner of defrauding investors through a $28 million Ponzi-like manufacturing debt investment scheme.

  • September 26, 2024

    Obesity Drug Developer Leads 2 Upsized IPOs Totaling $310M

    Obesity-focused drug developer BioAge Labs Inc. gained in debut trading Thursday after raising $198 million through an upsized initial public offering, leading one of two new listings that netted a combined $310 million under the guidance of four law firms.

  • September 26, 2024

    VivoPower Keeps HQ In UK To Qualify For $21B Gov't Program

    Sustainable energy solutions company VivoPower International PLC and hydrogen technology business Future Automotive Solutions and Technologies on Thursday outlined additional terms to their proposed $1.13 billion merger, including settling the combined company's headquarters in the U.K. in order to qualify for potential "significant and attractive" government incentives.

  • September 26, 2024

    Investor Ordered To Deposit $336K In Pot Co. Contract Suit

    A Nevada magistrate judge has ordered Capital Pure Assets Ltd. to deposit $336,000 with the court as part of a dispute with a cannabis payment company's subsidiary over a failed business venture, finding the subsidiary is likely to succeed on its claims that CPA tricked it into putting that amount into an escrow fund.

Expert Analysis

  • Reps And Warranties Insurance Considerations As M&A Slows

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    The first six months of the year have seen increasingly favorable rates and policy terms for the representations and warranties insurance market, and policy purchasers are right to pay close attention to pricing, coverage, exclusions, structures and claims as the M&A market cools, say attorneys at Cooley.

  • Series

    Playing Chess Makes Me A Better Lawyer

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    There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

  • How M&A Attorneys Can Best Serve Self-Funded Searchers

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    Post-pandemic, and with the so-called great wealth transfer on the horizon, individuals looking for small and midsize businesses to acquire are increasingly going the self-funded route, so deal attorneys must understand the major pain points and unique needs of this demographic, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Litigation Inspiration: Attys Can Be Heroic Like Olympians

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    Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • Key Takeaways From 2024 Accountants' Liability Conference

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    At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Parsing Controversial Del. General Corporation Law Proposals

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    In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • A Look At M&A Conditions After FTC's Exxon-Pioneer Nod

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    The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.

  • FTC Theories Of Harm After Anesthesia Co. Ruling

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    As Federal Trade Commission litigation against U.S. Anesthesia Partners proceeds following a Texas federal court's recent decision to dismiss a private equity sponsor from the suit, the case attempts to incorporate and advance some of the commission's theories of competitive harm from the final 2023 Merger Guidelines, say attorneys at Mintz.

  • Investors Can Aid In The Acceptance Of Psychedelic Medicine

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    Psychedelic medicine is ready to have its breakthrough moment, and although it still faces political, legal and communications challenges, private equity investors can play a significant role in changing the public perception on psychedelics from taboo to acceptance, say Kimberly Chew at Husch Blackwell, Charlie Panfil at the Daschle Group and Ethan Lutz at FTI Consulting.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

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