Private Equity

  • October 17, 2024

    Fuji Soft Founder Endorses Bain Capital Bid Over KKR

    The founder of Japanese software developer Fuji Soft on Thursday publicly supported Bain Capital's counterbid to take the company private, alleging that competing bidder KKR submitted its proposal "in a manner that was not intended by Fuji Soft."

  • October 17, 2024

    EQT Exeter Buys Industrial Asset Near Seattle For $82M

    EQT Exeter Real Estate Income Trust Inc., a real estate investment trust backed by Swedish investment giant EQT AB, said Thursday that it has acquired an industrial building in the suburbs of Seattle for $81.5 million.

  • October 17, 2024

    Randy Newman Sells Music Rights To Carlyle-Backed Litmus

    Musician and songwriter Randy Newman has sold his stake in his recorded music and publishing rights to Carlyle-backed music rights business Litmus Music, a transaction that includes decades of popular recordings and music from feature films, including the song "You've Got A Friend In Me" from 1995's "Toy Story," Litmus said Thursday.

  • October 17, 2024

    Polsinelli Hires McDermott Tax Counsel In DC

    Polsinelli PC has hired an attorney who joined the firm's tax group as a shareholder after 12 and a half years with McDermott Will & Emery LLP.

  • October 17, 2024

    Simpson-Led Silver Lake Inks $1.7B Deal For Zuora

    Simpson Thacher & Bartlett LLP is guiding California-based tech investor Silver Lake on an agreement to buy Zuora Inc., a monetization software platform for businesses, at a $1.7 billion value, Zuora said Thursday. 

  • October 16, 2024

    Latham-Led Silicon Carbide Biz Lands $2.5B Of New Funding

    Silicon carbide technology company Wolfspeed, advised by Latham & Watkins LLP and Smith Anderson, announced that it expects to receive up to $2.5 billion in new funding, through the CHIPS and Science Act and from a consortium that includes private equity giant Apollo, to support the expansion of silicon carbon manufacturing in the U.S.

  • October 16, 2024

    PE Firm Trashed Exec To Avoid Payout In $98M Deal, Suit Says

    A Summit Partners affiliate and several executives concocted false allegations of misconduct to get out of fully compensating the owner of an investment management firm as part of an acquisition worth a reported $97.6 million, according to a complaint filed in Massachusetts state court.

  • October 16, 2024

    Enforcers Won't Challenge $3B Energy Deal, $5B Coal Tie-Up

    Deadlines have passed for antitrust enforcers to challenge Oneok Inc.'s deal for a $3.3 billion stake in EnLink Midstream LLC and Arch Resources Inc.'s all-stock merger with Consol Energy Inc., a deal that's expected to create a natural resources company worth $5.2 billion.

  • October 16, 2024

    Two Circles Boosts 'Big 5' Sports Client Base With Kore Buy

    Sports data and entertainment company Two Circles said Wednesday it has agreed to buy sports industry intelligence platform Kore, in a deal that will create a merged company worth a reported $650 million.

  • October 16, 2024

    Skadden Drives Forest Road To Formula E Team Acquisition

    Los Angeles-based investment firm The Forest Road Company, advised by Skadden Arps Slate Meagher & Flom LLP, has purchased the ERT Formula E team. The team is rebranding as Kiro Race Co as it prepares to enter the 11th season of the ABB FIA Formula E World Championship under new ownership.

  • October 16, 2024

    Investor Pushes 7-Eleven Parent To Consider Couche-Tard Bid

    A U.S. investor in the Japanese parent company of 7-Eleven said Wednesday it is pushing the company to consider a revised buyout bid from Canada's Alimentation Couche-Tard Inc. that is said to carry a $47 billion price tag, telling Japan's Seven & i Holdings that an alternative restructuring plan the company recently revealed is "too little, too late."

  • October 16, 2024

    PE Giants Bridgepoint, General Atlantic Invest In Kyriba Corp.

    Private equity shops Bridgepoint and General Atlantic said Wednesday that they will invest in Kyriba in a deal that values the liquidity manager at more than $3 billion.

  • October 15, 2024

    Conn. Trader Pilfered $4.1M From Struggling Firm, SEC Says

    A Greenwich, Conn.-based investment adviser stole more than $4.1 million from a pair of investment funds he managed to help prop up his family's "expensive lifestyle" and counter his personal financial woes, including several tax liens and foreclosure attempts on his home, the U.S. Securities and Exchange Commission has alleged.

  • October 15, 2024

    Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told

    Counsel for the former CEO of real estate investment firm Arciterra told a Manhattan federal jury Tuesday his client was a fool for making what prosecutors described as a fake $77 million tender offer for a controlling stake in WeWork before its bankruptcy, but he wasn't trying to falsely pump up the coworking company's stock price.

  • October 15, 2024

    10th Circ. Won't Reboot Short Sellers' Suit Against Overstock

    In a decision dealing with matters of first impression, the Tenth Circuit on Tuesday declined to revive a hedge fund's proposed class action accusing Overstock.com Inc. and its leadership of manipulating the market when it said it would pay shareholders using cryptocurrency but abandoned the plan to force short sellers into a "squeeze."

  • October 15, 2024

    Hedge Fund Urges Justices To Hear Swing-Trade Case

    The U.S. Supreme Court has been asked by a hedge fund facing insider trading allegations to address "significant and recurring issues" that allowed a 1-800-Flowers.com shareholder to proceed with his derivative lawsuit despite failing to prove that the company was harmed in any way by the fund's short-swing trades.

  • October 15, 2024

    Chancery Urged To Toss Smart & Final $1.1B Sale Challenge

    An attorney for funds of Ares Alternative Management Corp. told Delaware's chancellor on Tuesday a stockholder suit alleging breaches of fiduciary duty and corporate waste in a $1.1 billion sale of Smart & Final Stores Inc. failed to show disabling conflicts among company principals or advisers.

  • October 15, 2024

    Investment Firm Says CNA Must Defend Competition Suits

    An investment adviser firm said a CNA unit must cover underlying suits accusing it of stealing a competitor firm's employees and soliciting its investors, telling a Connecticut federal court that the allegations constitute disparagement and advertising injury sufficient to trigger the insurer's duty to defend.

  • October 15, 2024

    4 Firms Steer Ownership Shakeup At 'Dune' Movie Maker

    Legendary Entertainment has completed a buyout of Chinese company Wanda Group's remaining equity interest in the movie studio behind "Dune" and "Dune: Part Two," a deal that gives sole ownership of the company to Legendary's management and funds managed by affiliates of Apollo.

  • October 15, 2024

    Mich. Judge Unsure If PE Firm's Loan Broke Usury Law

    The interest rate on a private equity firm's loan to a Detroit house-flipping venture exceeded usury limits, but it was unclear whether the lender knowingly charged an excessive rate, a Michigan state judge ruled after the case returned from a trip to the Michigan Supreme Court. 

  • October 15, 2024

    PE-Backed Ingram Micro Leads 2 IPOs Seeking $466M Total

    Private equity-backed information technology company Ingram Micro Holding Corp. on Tuesday unveiled a price range on an estimated $400 million initial public offering set to price next week, one of two companies to launch plans for IPOs that could net $466 million combined.

  • October 15, 2024

    Willkie-Led Insight Partners Clinches $1.5B Continuation Fund

    Willkie Farr & Gallagher LLP-advised Insight Partners, a private equity shop focused on investing in software, on Tuesday announced that it wrapped its third continuation fund after raising approximately $1.5 billion of commitments.

  • October 15, 2024

    Frontier May Be Worth 2 Times Verizon's Bid, Investor Warns

    Frontier Communications Parent Inc. stockholder Cooper Investors Pty Ltd. on Tuesday expressed "strong opposition" to Verizon Communications Inc.'s planned $20 billion deal to absorb the company, arguing Frontier could be worth nearly double the $38.50 per share that Verizon plans to pay.

  • October 15, 2024

    Simpson Thacher, Milbank Guide $2B DataBank Equity Raise

    Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

Expert Analysis

  • Mid-2024 FCA Enforcement And Litigation Trends To Watch

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    Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.

  • A Recipe For Growth Equity Investing In A Slow M&A Market

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    Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

  • PE-Healthcare Mergers Should Prepare For Challenges

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    State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

  • Navigating SPAC Market Challenges For Microcap Issuers

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    For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • SEC Off-Channel Comms Action Hints At Future Enforcement

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    Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 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.

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