Private Equity

  • July 30, 2024

    $8.5B Gores-Led Metal Packaging Co. SPAC Draws Del. Suit

    A former shareholder of the blank-check company that took Ardagh Metal Packaging Group SA public has packaged up a Delaware Court of Chancery lawsuit seeking damages in the wake of the merged company's stock plunge after going public in an $8.5 billion cash-and-share deal.

  • July 30, 2024

    Mass. Says $30M Funding For Steward Will Fund Quick Sales

    The Commonwealth of Massachusetts has told a Texas bankruptcy judge that its agreement to pay $30 million to debtor Steward Health Care is designed to help fund operations at the debtor's struggling hospitals while sales are pursued.

  • July 30, 2024

    Ropes & Gray Adds Partner To Int'l Tax Practice

    Ropes & Gray LLP recently added a tax adviser with a wealth of experience navigating transactions, funds and investments for clients as a partner in its New York office, the firm said.

  • July 30, 2024

    AI Dominance In Startup Funding Has Small Biz Concerned

    Except for funding for artificial-intelligence startups, early-stage companies are struggling to raise capital amid higher interest rates and lean markets for initial public offerings and mergers and acquisitions, members of a small business-focused panel advising the U.S. Securities and Exchange Commission said Tuesday.

  • July 30, 2024

    Activist Investor Demands Against US Firms Spike 9%

    The number of U.S. companies subject to shareholder activist demands in the first half of this year increased to 449 from 412 companies in the first half of last year, representing a 9% jump, according to a report published Tuesday by Diligent Market Intelligence.

  • July 30, 2024

    Kirkland Leads Hidden Harbor Capital To $800M Fund Close

    Kirkland & Ellis LLP-advised Hidden Harbor Capital Partners on Tuesday announced that it has clinched its third fund after securing $800 million from investors.

  • July 30, 2024

    DC Startup DecoverAI Raises $2M For Litigation Tech

    Legal tech startup DecoverAI said Tuesday that it raised $2 million in a seed funding round led by venture firm Leo Capital.

  • July 30, 2024

    Vista Delays Vote On CSG Deal To Review Alternative Paths

    Vista Outdoor Inc. on Tuesday delayed its shareholder vote on the sale of its sporting products division, The Kinetic Group, to Czech defense company Czechoslovak Group AS to begin a review of strategic alternatives, which includes evaluating a competing bid from Dallas-based MNC Capital Partners LP.

  • July 30, 2024

    Milbank Guiding Chorus Aviation On $1.4B Sale Of Leasing Biz

    Canada's Chorus Aviation Inc. said Tuesday it has agreed to sell its regional aircraft leasing business to investment funds managed by HPS Investment Partners for about CA$1.9 billion ($1.4 billion). 

  • July 30, 2024

    Ackman's New Investment Fund Lowers IPO Target To $2B

    Bill Ackman's new investment fund Pershing Square USA Ltd. set a $2 billion fundraising target for its initial public offering, down significantly from earlier estimates, according to a securities filing Tuesday, under guidance from Sullivan & Cromwell LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

  • July 30, 2024

    Ex-Ch. 11 Trustee Can't Retroactively File Legal Fees

    A bankruptcy trustee who is removed can't retroactively receive administrative expenses, the Fourth Circuit has ruled, saying a former bankruptcy trustee is not allowed to later file an application for professional fees.

  • July 29, 2024

    Truth Social SPAC, Sponsors Battle In Chancery Over Payout

    Attorneys for a founding investor in the special purpose acquisition company that took former President Donald Trump's social media site public told a Delaware vice chancellor Monday the SPAC ignored its charter and withheld information about the deal in order to avoid paying tens of millions in anti-dilution protection.

  • July 29, 2024

    Virtu Pushes For SEC Crackdown On 'Penny Stock' Listings

    Virtu Financial Inc. is pressing the U.S. Securities and Exchange Commission to force Nasdaq and other exchanges to crack down on so-called penny stocks, petitioning the agency to initiate rulemaking that would stop companies struggling to stay above $1 per share from continuing to trade on the exchanges.

  • July 29, 2024

    CIM Group Funds $2.1B Real Estate Investment Platform

    Real estate and infrastructure owner CIM Group on Monday announced that it has provided financing for the formation of a $2.1 billion investment platform called Round Hill Capital Ventures, which has acquired contracts for the assets previously managed by Round Hill Capital.

  • July 29, 2024

    Skadden-Led Driverless Tech Startup WeRide Seeks US IPO

    Autonomous driving technology developer WeRide Inc. has filed U.S. initial public offering plans, represented by Skadden Arps Slate Meagher & Flom LLP and underwriters' counsel Latham & Watkins LLP, potentially marking a rare U.S. listing from a Chinese company.

  • July 29, 2024

    Ackman's IPO For New Pershing Square Fund Faces Delay

    Hedge-fund giant Bill Ackman is still proceeding with an estimated $2.5 billion to $4 billion initial public offering of his new closed-end investment fund, Pershing Square USA Ltd., though the date of pricing is undetermined, according to the new fund.

  • July 29, 2024

    Medical Co. Fights To Reboot Arbitration Bid At 9th Circ.

    A private-equity owned medical product maker urged the Ninth Circuit on Monday to reverse a finding that a truck loader's proposed class wage claims are exempt from federal arbitration law, arguing that the court erred in finding that she engaged in interstate commerce based on "super flimsy evidence" and is exempt.

  • July 29, 2024

    Kirkland-Led Amulet Closes $1.2B Health-Focused Fund

    Kirkland & Ellis LLP-advised private equity shop Amulet Capital Partners LP on Monday announced that it successfully closed its third healthcare-focused private equity fund with roughly $1.2 billion in tow.

  • July 29, 2024

    Davis Polk Adds Ex-Simpson Thacher Funds Partner In DC

    Davis Polk & Wardwell LLP announced Monday that a former Simpson Thacher & Bartlett LLP funds attorney joined the firm's investment management practice as a partner in Washington, D.C.

  • July 29, 2024

    Catching Up With Delaware's Chancery Court

    Litigation linked to Elon Musk sparked several filings in Delaware's Court of Chancery last week, including a call for sanctions and hand-wringing about a proposed multibillion-dollar attorney fee. Here, Law360 looks at this and other highlights from last week in Delaware's Chancery Court.

  • July 29, 2024

    Morgan Lewis Grows German Presence With 3 New Partners

    Morgan Lewis & Bockius LLP announced Monday that it has hired three new partners to further strengthen its German offerings.

  • July 29, 2024

    5 Firms Build Sixth Street's $5.1B Buy Of Enstar

    Insurance group Enstar on Monday announced it had agreed to be bought by private equity shop Sixth Street in a $5.1 billion take-private deal crafted by Paul Weiss, Hogan Lovells, Simpson Thacher, Debevoise & Plimpton and Cleary Gottlieb.

  • July 26, 2024

    Real Estate Recap: CrowdStrike, CFIUS, Financial Services

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the real estate sector's reaction to the CrowdStrike outage, heightened scrutiny of foreign investment in U.S. properties and a view of evolving financial services regulation from the general counsel of the Conference of State Bank Supervisors.

  • July 26, 2024

    Shareholder Litigation To Watch: A Midyear Report

    A pair of anticipated U.S. Supreme Court arguments, the fate of a new wave of lawsuits against special purpose acquisition companies and the future of shareholder claims of artificial intelligence malfeasance are among the issues that securities practitioners are following as the second half of 2024 unfolds in the courts.

  • July 26, 2024

    Assa Abloy Resolves DOJ Merger Monitor Dispute

    Assa Abloy told a D.C. federal judge that it's agreed "in principle" on how a monitoring trustee will review its compliance with a U.S. Department of Justice merger lawsuit settlement, resolving a simmering dispute over its complaints of an open-ended multimillion-dollar investigation.

Expert Analysis

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • A Look At Recent Challenges To SEC's Settlement 'Gag Rule'

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    Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.

  • Flexibility Is Key In Hybrid Capital Investment Strategies

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    Flexible or hybrid capital funds have become a solution for some owners adverse to private debt or requiring short-term capital support not otherwise available in the market, but the complexity and possible range of structures available means that principals need to consider how they may work in different scenarios and outcomes, says Daniel Mathias at Cohen Gresser.

  • Planning For Healthcare-Private Equity Antitrust Enforcement

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    U.S. antitrust agency developments could mean potential enforcement actions on healthcare-related acquisitions by private equity funds are on the way, and entities operating in this space should follow a series of practice tips, including early assessment of antitrust risks on both the state and federal level, say Ryan Quillian and John Kendrick at Covington.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • 2nd Circ. Adviser Liability Ruling May Shape SEC Enforcement

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    The Second Circuit’s recent decision in U.S. Securities and Exchange Commission v. Rashid, applying basic negligence principles to reverse a finding of investment adviser liability, provides a road map for future fraud enforcement proceedings, says Elisha Kobre at Bradley Arant.

  • Stay Interviews Are Key To Retaining Legal Talent

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    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • An Overview Of Key Financing Documents In Venture Capital

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    The Delaware Chancery Court’s recent Moelis decision highlights the importance of structuring corporate governance around investor demand, meaning early-stage companies seeking venture funding through sales of preferred stock should understand the legal documents needed to do so successfully, say Daniel Bell-Garcia and Tristan Kaisharis at Winstead.

  • Series

    Spray Painting Makes Me A Better Lawyer

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    My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.

  • Why Oncology Deal Making Continues To Fuel Biotech M&A

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    The biotech sector's potential for advancements in cancer care continues to attract deal-maker interest, and the keys to successful mergers and acquisitions include the ability to integrate innovative therapies, leverage technological advancements and respond to the dynamic needs of patients, say Bryan Luchs and Mike Weir at White & Case.

  • How New SEC Rule May Turn DeFi Participants Into 'Dealers'

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    The U.S. Securities and Exchange Commission recently announced a new rule to amend its definition of a securities "dealer," but the change could have concerning implications for decentralized finance and blockchain, as the SEC has suggested it may subject DeFi participants to registration requirements and other regulations, say attorneys at DLA Piper.

  • Opinion

    Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Document Retention Best Practices To Lower Litigation Risks

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    As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.

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