Private Equity

  • February 14, 2025

    Joy Dish Soap Deal Caused $12M Loss, Manufacturer Claims

    Alleging $12 million in losses, Michigan-based manufacturer N.V. Labs Inc., which does business as the Reforma Group, has sued Connecticut private equity firm Piney Lake Capital Management LP on allegations it dirtied a deal to produce Joy dish soap through a subsidiary after buying the brand from Procter & Gamble.

  • February 14, 2025

    'Not For Sale': OpenAI Rebuffs Musk's $97.4B Takeover Bid

    The board of directors for OpenAI voted unanimously on Friday to reject a $97.4 billion offer from Elon Musk and a consortium of investors to buy the artificial intelligence platform, with the board chair saying in a statement, "OpenAI is not for sale."

  • February 14, 2025

    Alston & Bird Leads PE-Backed Michigan Bank's $151M IPO

    Shares of private equity-backed Northpointe Bancshares Inc. began trading Friday after the Michigan bank priced an upsized $151 million initial public offering below its marketed range, represented by Alston & Bird LLP and underwriters counsel Squire Patton Boggs LLP.

  • February 14, 2025

    1st Circ. Chides SEC, Judge In Atty Stock Scheme Case

    A split First Circuit has found that the U.S. Securities and Exchange Commission was trying to hedge its bets before it asked the panel to reverse a partial dismissal of an enforcement action against a former Connecticut attorney that the agency had itself requested, but also that a Massachusetts district judge had made a series of errors that warrant kicking the SEC's cases back to the lower court.

  • February 14, 2025

    Asset Manager Fiera Broke Bonus Promises, Ex-Exec Says

    A Massachusetts portfolio manager says Fiera Capital Inc. lured him to the asset management firm with promises he could earn up to $850,000 a year, then sidelined him so he was unable to qualify for bonuses and forced him out a year later.

  • February 14, 2025

    Simpson Guides KKR On $850M-Plus Real Estate Credit Fund

    Global investment giant KKR, advised by Simpson Thacher & Bartlett LLP, announced on Friday it had clinched its second opportunistic real estate credit fund, raising over $850 million for a dedicated strategy of investments in senior loans and real estate securities in the U.S. and Western Europe.

  • February 14, 2025

    Kirkland-Led Bain Buys Facilities Manager From PAI Partners

    Private equity firm Bain Capital, which is being advised by Kirkland & Ellis LLP, will buy Apleona, a German facilities manager, from France's PAI Partners, the two companies said Friday.

  • February 13, 2025

    Judge In SEC Case Asks If Fugitive Trader Really Died

    A Connecticut federal judge on Thursday directed the receiver managing the distribution of clawed-back funds diverted in a fraud by fugitive trader Iftikar Ahmed to look into claims that Ahmed has died and report to the court on their veracity.

  • February 13, 2025

    Chancery OKs Appraisal Suit Fix For Sears Damage Ruling

    A Sears Hometown Stores investor that saw its Delaware Court of Chancery share appraisal suit tanked by the company's bankruptcy in 2019 won a $4.06 per share payout ruling Thursday in a Court of Chancery decision focused on fair price and full and incremental damage claims.

  • February 13, 2025

    Clark Hill Adds Ex-Gordon Rees Corporate Atty In Pittsburgh

    A corporate attorney looking to expand resources for his private investment clients has moved his practice to Clark Hill PLC's Pittsburgh office after nearly three years with Gordon Rees Scully Mansukhani LLP.

  • February 13, 2025

    In-House Legal AI Co. Eudia Raises Up To $105M In Series A

    Eudia, an artificial intelligence platform for in-house legal teams, officially launched on Thursday after 18 months operating in stealth and announced the raising of up to $105 million in a Series A funding round.

  • February 13, 2025

    Musk's $97B OpenAI Bid Dubbed A 'Stunt' Amid Other Rumors

    After a Wall Street Journal report on Monday revealed that a consortium of investors led by Elon Musk was offering $97.4 billion to buy the nonprofit that controls OpenAI, rumors began to swirl regarding the true intentions behind the billionaire's bid.

  • February 13, 2025

    Musk Says He'll Drop OpenAI Bid If It Scraps 'For Profit' Plans

    Elon Musk has hit back at OpenAI's claim that his $97.375 billion takeover bid is improper, noting if the ChatGPT maker agrees to nix plans to become a for-profit business, his offer will be dropped. 

  • February 13, 2025

    Growth Equity Firm Plugs $150M Into Video Monetization Biz

    Buchalter PC-advised Uscreen, a video monetization platform for content creators, on Thursday revealed that it snagged a $150 million investment from Weil Gotshal & Manges LLP-led PSG, a software- and technology-focused growth equity firm.

  • February 13, 2025

    Willkie-Led Defense Firm Karman Prices Upsized $506M IPO

    Shares of Karman Holdings Inc. soared in debut trading Thursday after the defense and space systems firm priced an upsized $506 million above its marketed range, raising money for Karman and its private equity shareholders, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Latham & Watkins LLP.

  • February 13, 2025

    Paul Hastings, Cooley Lead Obesity-Focused Aardvark's IPO

    Obesity-focused Aardvark Therapeutics Inc. began trading Thursday after pricing a $94 million initial public offering at the bottom of its range, represented by Paul Hastings LLP and underwriters' counsel Cooley LLP, joining a string of biotechnology firms to go public recently.

  • February 13, 2025

    Travers, Foley Lead Steve Madden On £289M Kurt Geiger Deal

    U.S. footwear and accessories brand Steve Madden, which was being guided by Travers Smith LLP and Foley & Lardner LLP, said Thursday that it plans to buy U.K. rival Kurt Geiger from a consortium led by the Cinven private equity group for £289 million ($361 million) to expand in international markets.

  • February 13, 2025

    Kirkland, Davis Polk Steer SailPoint's Upsized $1.38B IPO

    Private equity-backed cybersecurity firm SailPoint began trading Thursday following an upsized $1.38 billion initial public offering that priced at the top of its range, represented by Kirkland & Ellis LLP and underwriters' counsel Davis Polk & Wardwell LLP, marking its return to public markets three years after being taken private.

  • February 13, 2025

    UK Greenlights PE Biz's £840M Deal For Workplace E-Trainer

    Workplace training provider Learning Technologies Group PLC said Thursday the U.K. government has approved its planned £836 million ($1 billion) sale to a subsidiary of private equity group General Atlantic.

  • February 12, 2025

    OpenAI Says Musk Takeover Bid 'Exposes' Intent Behind Suit

    OpenAI on Thursday told a California federal judge overseeing Elon Musk's lawsuit seeking to block OpenAI from becoming a for-profit enterprise that the Tesla founder has proposed acquiring OpenAI's business, saying the takeover effort reveals Musk's lawsuit to be "an improper bid to undermine a competitor."

  • February 12, 2025

    Poultry Producers Can't Dodge Bid-Rigging Claims In MDL

    An Illinois federal judge trimmed on Tuesday some conspiracy claims from a massive antitrust case against chicken producers, including Pilgrim's Pride and over a dozen others, but kept intact other bid-rigging allegations, finding that a class of restaurants and other direct buyers plausibly alleged the companies increased prices in parallel.

  • February 12, 2025

    PE Exec Says USC Can't Escape $75M 'Varsity Blues' Suit

    A private equity executive roped into the "Varsity Blues" college admissions case for his six-figure donation to the University of Southern California is asking a Los Angeles court to green-light his $75 million lawsuit alleging the school lied when it deemed his largesse improper.

  • February 12, 2025

    Davis Polk Guides Irish Sensor Co. On $2.3B Stateside Buy

    Davis Polk-led TE Connectivity PLC said Wednesday it has agreed to acquire Richards Manufacturing Co. from funds managed by Oaktree Capital Management LP and members of the Bier family, in an all-cash transaction valued at $2.3 billion.

  • February 12, 2025

    McDermott Adds Litigation, Private Funds Partners In NY

    McDermott Will & Emery announced Wednesday the hiring of a former Cleary Gottlieb partner for its litigation practice group in New York, as well as a former investment management partner at Schulte Roth & Zabel LLP as head of its U.S. private equity fund regulatory practice out of New York.

  • February 12, 2025

    Sidley Litigator Tapped For Treasury GC Post

    President Donald Trump has nominated Sidley Austin LLP regulatory litigation and white collar partner Brian P. Morrissey to become the U.S. Department of the Treasury's top lawyer, which would mark a return to the department where he was previously the number two lawyer.

Expert Analysis

  • Why Asset-Based Loans May Suit PE Companies In 2025

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    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.

  • Changes To Expect From SEC Under Trump Nominee

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    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.

  • A Look At SEC, CFTC's Record Year For Whistleblower Awards

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    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.

  • What 2024 Trends In Marketing, Comms Hiring Mean For 2025

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    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.

  • Series

    Group Running Makes Me A Better Lawyer

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    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.

  • Strategies For Home Equity Investment Providers In 2025

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    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.

  • Opinion

    6 Changes I Would Make If I Ran A Law School

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    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.

  • From Football To Pickleball, Sports Investing Evolved In 2024

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    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.

  • Firms Still Have The Edge In Lateral Hiring, But Buyer Beware

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    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.

  • Preparing For The New Restrictions On Investment Into China

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    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.

  • Think Like A Lawyer: 1 Type Of Case Complexity Stands Out

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    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.

  • Back To The Future? Antitrust Enforcement Under Trump 2.0

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    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.

  • FTX Exec's Sentencing Shows Pros And Cons Of Cooperation

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    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.

  • SEC Custody Rule Creates Crypto Compliance Conundrum

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    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.

  • Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity

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    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.

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