Private Equity

  • November 25, 2024

    SEC Secured Historic $8.2B Enforcement Haul In 2024

    The U.S. Securities and Exchange Commission obtained $8.2 billion in civil penalties and disgorgement via successful enforcement actions in 2024, the highest amount in the history of the agency despite a significant decline in total enforcement actions, the SEC has announced. 

  • November 25, 2024

    Tuna Price-Fixing MDL Lead Attys Awarded $86M In Fees

    A California federal judge has agreed to award a combined total of $86 million in fees and costs to lead counsel representing two classes of canned tuna buyers who reached settlements in recent months with StarKist, Dongwon Industries and Lion Capital in a decadelong price-fixing case.

  • November 25, 2024

    Lampert, Sears Stockholders Set Appraisal Share Faceoff

    Delaware's Court of Chancery has teed up an argument on how to handle class member claims of former Sears Hometown and Outlet Stores Inc. stockholders whose share appraisal demand was torpedoed by the company's bankruptcy in 2022.

  • November 25, 2024

    Hedge Fund-Backed SPAC Returns To Market With 3rd IPO

    Inflection Point Acquisition Corp. III, the third special purpose acquisition company affiliated with executives of hedge fund Kingwood Capital Management, filed plans on Monday for a $220 million initial public offering, guided by three law firms.

  • November 25, 2024

    NC Biz Owner Settles SEC's $28M Fraud Claims

    An investment firm owner has agreed to return the proceeds of an alleged $28 million Ponzi-like manufacturing debt investment scheme and pay a civil penalty to the U.S. Securities and Exchange Commission, according to an order signed by a North Carolina federal judge.

  • November 25, 2024

    Kirkland, Milbank Shape $3.5B Blackstone-EQT Corp. JV

    EQT Corp., led by Kirkland & Ellis, will form a $3.5 billion joint venture with Blackstone Credit & Insurance to take over ownership of the Mountain Valley Pipeline and other midstream assets that EQT got in its re-acquisition of Equitrans Midstream, the partners announced Monday.

  • November 25, 2024

    5 Firms Build CA$12.1B Take-Private Of CI Financial

    Canada-based asset and wealth management company CI Financial Corp. on Monday announced that it has agreed to go private through an acquisition by Mubadala Capital that boasts an enterprise value of roughly CA$12.1 billion ($8.7 billion) and was built by five law firms.

  • November 22, 2024

    Private Cos. Seek Pre-IPO Share Sales Amid Liquidity Crunch

    Following a dearth of initial public offerings in recent years, more private companies are arranging secondary-share sales to help employees and early investors pare down equity stakes without waiting for a public listing, a trend capital markets attorneys expect will continue for the foreseeable future, even if IPOs rebound.

  • November 22, 2024

    Lenders File Suit To Repossess 600 Crypto ATMs As Payment

    Two holding companies are asking a Pennsylvania federal judge to appoint a receiver to help them take possession of nearly 600 digital currency kiosk machines that their defaulted borrowers pledged as collateral for loans totaling $5 million.

  • November 22, 2024

    Democratic SEC Member To Step Down Amid GOP Takeover

    U.S. Securities and Exchange Commission member Jaime Lizárraga said Friday that he plans to step down before President-elect Donald Trump takes office, a day after SEC Chair Gary Gensler announced his plans to leave, further clearing the way for new Republican Party leadership.

  • November 22, 2024

    Chinese EV Maker's European Unit Eyes $410M SPAC Merger

    Hudson Acquisition I Corp. and Aiways Automobile Europe GmbH said Friday they have inked an agreement to go public through a SPAC merger, with the electric vehicle maker achieving a $410 million pre-merger equity valuation. 

  • November 22, 2024

    Software-Focused VC Firm Closes 2nd Fund At $450M

    Software-focused venture capital firm Theory Ventures on Friday announced that it closed its second fund with $450 million in tow.

  • November 22, 2024

    Honeywell Restructure Continues With $1.3B PPE Biz Sale

    Honeywell said Friday it has agreed to sell its personal protective equipment business to Protective Industrial Products Inc. for $1.325 billion in cash, as the industrial conglomerate forges ahead with a multipronged restructuring program while also facing pressure from an activist investor to split itself in two. 

  • November 22, 2024

    Taxation With Representation: Stradley Ronon, Davis Polk

    In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal cable television networks.

  • November 22, 2024

    DirecTV Scraps Dish Merger After Bondholder Rejection

    DirecTV is abandoning a plan to purchase EchoStar's video distribution business Dish DBS, including Dish TV and Sling TV, after Dish DBS' bondholders rejected a proposed exchange debt offer that was required to seal the deal.

  • November 22, 2024

    Apollo Secures Another Week For £1B Bid For Auto Parts Biz

    Auto parts supplier TI Fluid Systems said Friday that both it and the U.K. mergers and acquisitions authority have given Canadian rival ABC Technologies a second extension to finalize its takeover offer of approximately £995 million ($1.3 billion).

  • November 21, 2024

    Big Lots Seeks To Include Claims Against Execs In Asset Sale

    Discount retailer Big Lots on Thursday asked a Delaware bankruptcy judge to approve a $760 million asset sale to a private equity group and override creditor objections to the inclusion of potential litigation claims against company insiders in the package.

  • November 21, 2024

    3 Firms Guide $370M Investment In Hospitality Co Lighthouse

    Travel and hospitality platform Lighthouse, steered by Paul Weiss and Latham & Watkins, has received $370 million in a Series C investment round led by Gibson Dunn-advised private equity firm KKR that will be used to "drive continued product innovation," the company announced Thursday.

  • November 21, 2024

    Kirkland-Led LLCP Secures $575M For Continuation Fund

    Middle-market private equity shop Levine Leichtman Capital Partners, advised by Kirkland & Ellis LLP, on Thursday announced that it closed a multiasset continuation fund after securing $575 million in capital commitments, which will be used to buy interests in three portfolio companies.

  • November 21, 2024

    2 Energy Transition-Focused SPACs Raise $210M Combined

    Two special purpose acquisition companies looking to capitalize on energy transition opportunities began trading publicly on Thursday after announcing pricing for their respective initial public offerings, which combined would raise $210 million.

  • November 21, 2024

    PE Posting Near-Record Megadeal Numbers, Report Shows

    Private equity dealmaking has built significant momentum this year, notching respectable deal volume and posting a record number of megadeals over $5 billion, according to a new report from S&P Global Market Intelligence.

  • November 21, 2024

    White & Case Guides Mediaocean On $525M Innovid Buy

    Private equity-backed advertising company Mediaocean said Thursday it has agreed to buy software platform Innovid for roughly $525 million, with White & Case LLP and Latham & Watkins LLP steering the deal as legal counsel. 

  • November 21, 2024

    Mayer Brown Practice Co-Head To Lead Linklaters Team

    Following a series of high-level corporate and finance hires this year, Linklaters announced Thursday that it is hiring the former co-leader of Mayer Brown LLP's infrastructure mergers and acquisitions practice as its head of U.S. infrastructure and private capital M&A.

  • November 21, 2024

    Accel-KKR Closes Tech-Focused Fund With $2.2B In Tow

    Technology-focused private equity shop Accel-KKR on Thursday announced that it closed its AKKR Strategic Capital LP fund after raking in over $2.2 billion of investor commitments, which will be used to invest in a range of transactions mainly focused on the software industry in the secondary market.

  • November 21, 2024

    New SEC 'Dealer' Rule Tossed In Win For Hedge Funds, Crypto

    A Texas federal judge on Thursday overturned a U.S. Securities and Exchange Commission rule that expanded the definition of "dealer" to include proprietary trading firms, some hedge funds and crypto firms, saying the agency overstepped its authority when it adopted the rule.

Expert Analysis

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • 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.

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