Private Equity

  • July 10, 2024

    Ellenoff-Led SPAC Raises $200M To Pursue Healthcare Merger

    SIM Acquisition Corp. I, a special-purpose acquisition company formed to pursue a healthcare merger, began trading Wednesday after pricing a $200 million initial public offering, represented by Ellenoff Grossman & Schole LLP and underwriters counsel Kirkland & Ellis LLP.

  • July 10, 2024

    Thoma Bravo's Qualtrics Bid Fell Short, SAP Tells Chancery

    Thoma Bravo LP may have offered $1.2 billion more than Silver Lake Management to buy Qualtrics International Inc. from software company SAP SE in 2023, but other aspects of the bid were less attractive than Silver Lake's $12.5 billion offer, an attorney for SAP directors told Delaware's Court of Chancery on Wednesday.

  • July 10, 2024

    Skydance, Paramount Unlikely To Hit Regulatory Roadblocks

    After Skydance Media and Paramount Global finally inked a deal to merge, the parties will move through a 45-day go-shop period and a review from U.S. regulators, but experts told Law360 the deal is unlikely to hit any antitrust obstacles.

  • July 10, 2024

    McDermott-Led H.I.G. Secures $1.3B For 3rd Real Estate Fund

    Private equity shop H.I.G. Capital, advised by McDermott Will & Emery LLP, on Wednesday announced that it closed its third European real estate-focused fund after raising roughly $1.3 billion of capital commitments.

  • July 10, 2024

    Intel Asks Del. Court To Affirm It Has License To VLSI Patents

    Intel has launched a suit in Delaware federal court asking for an order that it already has a license to various VLSI patents, the latest in a sprawling legal fight between the two parties over microchips.

  • July 10, 2024

    SEC Probes NYSE's Bid To Extend SPAC Merger Deadlines

    The U.S. Securities and Exchange Commision wants more time to investigate a New York Stock Exchange proposal that would lengthen deadlines to complete certain mergers involving special purpose acquisition companies to 42 months, saying NYSE's proposal departs from typical time limits intended to protect investors.

  • July 10, 2024

    Boston-Based Firm Clinches 2nd PE Fund With $810M In Tow

    Boston-based Manulife Investment Management on Wednesday announced that it clinched its second private equity fund after securing $810 million in commitments.

  • July 10, 2024

    Kirkland Guides Canada Pension Plan on €550M Tech Stake

    Canada Pension Plan Investment Board said Wednesday that it has invested €550 million ($595 million) for a stake in European technology company Team Blue in a deal steered by Linklaters, Macfarlanes and Kirkland & Ellis.

  • July 10, 2024

    PE Biz TowerBrook Bids £253M For Payments Platform Co.

    Private equity shop TowerBrook Capital Partners LP has made an improved cash offer of £253 million ($325 million) for Equals Group PLC, the British financial technology company said Wednesday after it put itself up for sale.

  • July 09, 2024

    Private Funds Say 5th Circ. Ruling Sinks SEC's AI, Cyber Bids

    Several trade groups for the private fund industry urged the U.S. Securities and Exchange Commission on Tuesday to withdraw rule proposals on artificial intelligence and investment adviser outsourcing and cybersecurity risk management, in light of a Fifth Circuit ruling that dealt a blow to the agency's private fund oversight.

  • July 09, 2024

    Healthcare Cases To Watch: A 2024 Midyear Report

    Courts across the U.S. this year will oversee key cases to the healthcare industry, from multidistrict litigation over the Change Healthcare hack to a challenge of a state gender-affirming care ban at the Supreme Court. Here are the healthcare cases to watch in the second half of 2024.

  • July 09, 2024

    3rd Circ. Rips 2nd Circ. In Asset Freeze Ruling For SEC

    The Third Circuit is standing by a lower court's decision to freeze a private equity executive's assets as he fights insider trading claims brought by the U.S. Securities and Exchange Commission, criticizing its sister circuit's approach to handling such issues in a precedential ruling Tuesday.

  • July 09, 2024

    Glocal Says UpHealth Coerced Acquisition In Ch. 11 Suit

    Indian healthcare network Glocal said its majority owner, bankrupt telemedicine tech company UpHealth, lied about business delays and exaggerated its finances as leverage in a 2020 acquisition, alleging in a Delaware bankruptcy court lawsuit that UpHealth and its executives eroded $200 million in value and failed to uphold their end of a share purchase agreement.

  • July 09, 2024

    Del. Chancellor Sends SwervePay Merger Suit Toward Trial

    Delaware's Court of Chancery on Tuesday rejected dismissal for an amended complaint filed by e-payment venture SwervePay accusing buyers affiliated with payment collection business Ontario Systems LLC of overstating by tens of billions revenue-producing transactions expected under a proposed 2020 tie-up.

  • July 09, 2024

    Hospital Operator Leads 2 IPOs Ready To Raise $465M Total

    Hospital operator Ardent Health and insurance distributor TWFG Inc. unveiled price ranges this week on initial public offerings that are expected to raise about $465 million combined under guidance by four law firms, adding life to the summer IPO market.

  • July 09, 2024

    Ackman's Pershing Square USA Kicks Off IPO Roadshow

    Pershing Square USA Ltd., a closed-end fund backed by hedge-fund giant Bill Ackman, on Tuesday said it has launched a marketing roadshow for an initial public offering that could enable retail investors to own part of one of the U.S.'s largest listed funds.

  • July 09, 2024

    Judge Calls Cost Of DOJ's Assa Abloy Market Study 'Insane'

    A D.C. federal judge took the U.S. Department of Justice and its monitoring trustee to task Tuesday for their pursuit of an open-ended look at Assa Abloy's books to check for anticompetitive harms from a 2023 merger, excoriating budget estimates pricing the investigation at a minimum of $1.7 million.

  • July 09, 2024

    5th Circ. Indicates Skepticism In Brett Favre Defamation Case

    The Fifth Circuit on Tuesday seemed skeptical that comments made by former NFL star Shannon Sharpe about Brett Favre's alleged involvement in a massive Mississippi welfare fraud scheme amounted to defamation, pressing Favre's attorney over why the retired NFL quarterback didn't sue over Sharpe's more emotionally charged statements.

  • July 09, 2024

    Blank Rome Adds Ballard Spahr M&A Pros In NY

    Two Ballard Spahr attorneys, including a co-leader of its private equity group, are moving their practice to Blank Rome's New York office.

  • July 09, 2024

    Kirkland Guides Avesi Partners To $1.35B Fund II Close

    Stamford, Connecticut-based Avesi Partners, a private equity firm specializing in healthcare and business services, said Tuesday it had closed Avesi Partners Fund II LP at $1.35 billion, with Kirkland & Ellis LLP serving as legal counsel to the oversubscribed fund. 

  • July 09, 2024

    Weil Opening Shops In Calif. With Latham Private Equity Pros

    Weil Gotshal & Manges LLP announced Tuesday that it has launched an office in Los Angeles and will soon open in San Francisco with a pair of private equity partners who both came aboard from Latham & Watkins LLP.

  • July 08, 2024

    Would-Be Pot Co. Rainmaker Still Not Liable For Alleged Fraud

    A Colorado Court of Appeals panel has affirmed the outcome of a jury trial in which a businessman was found not liable for defrauding a cannabis company, concluding that it would have been highly prejudicial to tell jurors the businessman was sanctioned in the case for fabricating evidence.

  • July 08, 2024

    3rd Truth Social Complaint Gets OK, Contempt Hearing Axed

    Two former "Apprentice" contestants who claim to have created Donald Trump's social media app and are now alleging they are being cheated out of their Truth Social equity got Delaware Chancery Court's permission Monday to revise their complaint for a third time against the former president and his media company.

  • July 08, 2024

    Assa Abloy Says No Monitor 'Blank Check' After Merger Deal

    Assa Abloy on Monday reasserted its bid to rein in a monitoring trustee installed after the company settled a government merger challenge, arguing ahead of a court hearing that the government is aiming to roll back the parties' deal and carry out a more expansive investigation through the monitor.

  • July 08, 2024

    Texas Anesthesia Co. Can't Pause Or Appeal Suit, FTC Says

    The Federal Trade Commission urged a Texas federal court not to pause its suit accusing U.S. Anesthesia Partners Inc. of a monopolistic "roll-up" of Lone Star State anesthesia practices, arguing the company can't appeal an order refusing to toss the case against it.

Expert Analysis

  • 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.

  • 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.

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