Private Equity

  • June 06, 2024

    'Brussels Effect' Of EU's AI Act Is Uncertain, Legal Pros Say

    BigLaw attorneys advising international clients on the European Union's AI Act tell Law360 there are significant uncertainties over vague terms in the 458-page statute, how its steep eight-figure fines will be enforced, and whether it will set a new standard globally as part of the "Brussels effect."

  • June 06, 2024

    Deals Rumor Mill: Carl Icahn, Bill Ackman, Michael Bloomberg

    Carl Icahn invests in Caesars, Bill Ackman plans Pershing's public offering, and Michael Bloomberg joins prospective Timberwolves buying group. Here, Law360 breaks down the notable deal rumors from the past week.

  • June 06, 2024

    5 Firms Steer Pair Of Cross-Border IPOs Totaling $230M

    Australian-listed location app Life360 Inc. and Israeli nanotechnology startup Gauzy Ltd. began trading on Thursday after pricing two cross-border initial public offerings that raised a combined $230 million, steered by five law firms.

  • June 06, 2024

    Aquiline Secures More Than $3.4B Across 2 New Funds

    Financial services-focused private investment firm Aquiline Capital Partners LP on Thursday announced that it garnered more than $3.4 billion of capital across its two latest funds, a financial services-focused private equity fund and a continuation fund.

  • June 06, 2024

    Fried Frank Exec Comp Partner Moves To Paul Hastings In NY

    Executive compensation lawyer Jason Ertel has joined Paul Hastings LLP's global compensation, benefits and ERISA practice as a partner in New York, the firm said Thursday.  

  • June 06, 2024

    Haynes Boone Guides Natural Gas Producer's SPAC Merger

    An Italian natural gas producer has said that it will merge with a Nasdaq-listed blank-check company to help accelerate its transition to clean energy in a deal steered by Haynes and Boone and Greenberg Traurig.

  • June 05, 2024

    StarTek Controller Sued In Del. After Public-Share Buyout

    Two public stockholders of global customer experience outsourcing consultant StarTek Inc. sued four company directors and its private equity controller in Delaware's Court of Chancery on Wednesday, alleging an unfair and conflicted $4.30-per-share buyout of the company's remaining public shares.

  • June 05, 2024

    Debevoise-Led Ambac Unveils 2 Deals Totaling $702M

    Debevoise & Plimpton LLP-led Ambac Financial Group on Wednesday announced two deals totaling $702 million, as the insurance holding company said it agreed to sell its financial guarantee business for $420 million in cash and separately announced that it will purchase a majority stake in Beat Capital Partners for roughly $282 million.

  • June 05, 2024

    AI Co., Biotech Prep IPOs Worth $602M As Novelis Delays

    Healthcare data artificial intelligence platform Tempus AI and Australian biotech Telix Pharmaceuticals on Wednesday unveiled plans for initial public offerings that will aim to raise a combined total of approximately $602 million, while sustainable aluminum solutions provider Novelis, a day prior, postponed IPO plans due to market conditions.

  • June 05, 2024

    Truth Social Investors Want Fla. Suit Paused For Del. Claims

    Two early investors in Donald Trump's Truth Social media company urged a Florida judge on Wednesday to pause the company's suit trying to claim their shares while a first-filed suit in Delaware is pending, arguing that the company is forum shopping in an attempt to get around an unfavorable Delaware Chancery Court order.

  • June 05, 2024

    Ex-Skadden Atty, Credit Suisse Beat TransPerfect's Fraud Suit

    A Delaware federal judge has tossed TransPerfect Holdings LLC's lawsuit alleging that misrepresentations by a now-retired Skadden Arps Slate Meagher & Flom LLP partner and Credit Suisse Securities (USA) LLC led it to pay too much for language translation company TransPerfect Global Inc., finding that claims are time-barred.

  • June 05, 2024

    Texas To Launch Stock Exchange Backed By $120M Capital

    TXSE Group Inc. said Wednesday it plans to launch the Texas Stock Exchange, a national trading venue for public companies and exchange-traded products, following a $120 million private capital raise that was guided by Haynes and Boone LLP.

  • June 05, 2024

    Billionaire's 'Naive' Stock-Trading Pilot Asks For No Prison

    A private pilot for U.K. billionaire Joe Lewis is asking for no prison time after pleading guilty to insider trading on stock tips provided by his boss, arguing that he has otherwise lived a law-abiding life and is less culpable than many white-collar defendants who've come through the Manhattan federal court.

  • June 05, 2024

    HanesBrands Selling Champion To Authentic For Up To $1.5B

    HanesBrands said Wednesday it has agreed to sell its Champion business to Authentic Brands Group for up to $1.5 billion, under the guidance of Kirkland & Ellis LLP and Jones Day.

  • June 05, 2024

    StepStone Clinches Record $3.3B VC Secondaries Fund

    New York-based investment firm StepStone Group Inc., advised by Proskauer Rose LLP, has clinched its latest venture capital secondaries fund after securing $3.3 billion from investors, marking what the firm says is the largest fund dedicated exclusively to pursuing venture capital secondaries to date.

  • June 05, 2024

    5th Circ. Private Funds Ruling Could Rewrite SEC Agenda

    The Fifth Circuit on Wednesday vacated U.S. Securities and Exchange Commission regulations that would have required private fund advisers to provide detailed disclosures to investors, in a sweeping decision that could upend the regulator's approach to promised rules on climate, artificial intelligence and crypto assets.

  • June 05, 2024

    UK Investment Firm Raises €300M For Energy Transition Fund

    British investment manager Foresight Group said Wednesday that it has raised €300 million ($326 million) for its second fund, which is aimed at investing in renewable energy generation and infrastructure.

  • June 05, 2024

    Private Equity Giant To Buy €438.7M Stake In Italy's FiberCop

    KKR will buy the stake held by the Italian subsidiary of Swisscom AG in a fiber company for €438.7 million ($476.8 million), the companies said on Wednesday, as the private equity giant expands its presence in the telecommunications market in the country.

  • June 04, 2024

    PE Firm Tells 5th Circ. It Got Pushed Out Of EV Co. Acquisition

    Texas-based private equity company Ancor Holdings LP says it got pushed out of an acquisition deal by another private equity group it brought in as backup, arguing in oral arguments at the Fifth Circuit on Tuesday that a binding letter of intent means it's entitled to future profits.

  • June 04, 2024

    GOP Spending Bill Aims To Cut SEC Budget, Nix Climate Rule

    The Republican-led House Appropriations Committee released a spending bill Tuesday that threatens to cut funding for financial service agencies and prevent the U.S. Securities and Exchange Commission from funding its controversial climate disclosure rules and bar Consumer Financial Protection Bureau spending on a contentious rule, as well.

  • June 04, 2024

    Apollo Leading $11B Investment For 49% Stake In Intel JV

    Apollo Global Management said Tuesday it's heading up an $11 billion investment to acquire a 49% interest in a joint venture with Intel Corp. related to Intel's Fab 34 chip factory in Leixip, Ireland.

  • June 04, 2024

    Kirkland-Led PE Firm Closes Inaugural Fund At Nearly $300M

    New York-based private equity shop MFG Partners, led by Kirkland & Ellis LLP, on Tuesday announced that it clinched its inaugural private equity fund after securing nearly $300 million in commitments, which will be used to invest in lower middle market industrial companies.

  • June 04, 2024

    SEC Shutters Salt Lake City Office, Shifts Cases To Denver

    The U.S. Securities and Exchange Commission said on Tuesday that it will close its Salt Lake City office for budgetary and organizational purposes, saying that the caseload of the office, which among other things handled the troubled Debt Box case, will now be handled by staff in Denver.

  • June 04, 2024

    Canadian Funeral Co.'s Stock Jumps 58% On C$1.2B Sale

    Toronto-based funeral, cremation and cemetery provider Park Lawn Corp. disclosed an agreement to sell the business for C$1.2 billion ($877.5 million) under the guidance of Bennett Jones LLP and Morgan Lewis & Bockius LLP, leading the company's stock to jump more than 58% on Tuesday. 

  • June 04, 2024

    Simpson Reps Frontdoor On $585M Home Warranty Co. Buy

    Simpson Thacher is representing Frontdoor Inc. on a newly inked deal to buy fellow home warranties provider 2-10 Home Buyers Warranty, guided by Ropes & Gray, for $585 million in cash, according to a statement Tuesday.

Expert Analysis

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Breakdown Of The OCC's New Venture Lending Pointers

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    In light of the Office of the Comptroller of the Currency's recent bulletin outlining venture lending risks for banks, Matt Schwartz and Jeffrey Hare at DLA Piper highlight key considerations for both lenders and venture-backed companies seeking or maintaining loans from OCC-regulated national banks and federal thrifts.

  • Crypto, Audit Cases Dominate SEC's Enforcement Focus In '23

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    Attorneys at Covington examine the U.S. Securities and Exchange Commission's fiscal year 2023 enforcement results, which marked the SEC's third consecutive year of increasing enforcement activity since Chair Gary Gensler took over in 2021 — this time driven by a focus on combating cryptocurrency-related scams and enforcing recordkeeping compliance.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • Series

    ESG Around The World: Mexico

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    ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • SEC Whistleblower Action Spotlights Risks For Private Cos.

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    The U.S. Securities and Exchange Commission’s recent whistleblower action against Monolith Resources holds important implications for private companies, who could face unprecedented regulatory scrutiny amid the agency's efforts to beef up environmental, social and governance reporting and enforcement, say attorneys at Wiley.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Cross-Market Implications In FTC's Anesthesia Complaint

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    The Federal Trade Commission's recent complaint against a private equity firm's acquisition of anesthesiology practices highlights the controversial issue of cross-market harm in health care provider mergers, and could provide important insights into how a court may view such theories of harm, say Christopher Lau and Dina Older Aguilar at Cornerstone Research.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

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    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • Are CCOs Really In The SEC's Crosshairs?

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    U.S. Securities and Exchange Commission Enforcement Director Gurbir Grewal recently gave a speech to address the concerns of chief compliance officers in light of recent enforcement actions taken against them, but CCOs need to understand when to push back against management, quit, or report issues to the board or to regulators, say Brian Rubin and Adam Pollet at Eversheds Sutherland.

  • Breaking Down The SEC's 2024 Examination Priorities

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    The U.S. Securities and Exchange Commission’s recently released examination priorities for the year ahead signal a steady course from prior years, but they also include some specific new concerns and important twists on perennial risk areas, say Kurt Gottschall and Kit Addleman at Haynes Boone.

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