Private Equity

  • September 05, 2024

    Debevoise, Cravath Steer Verizon's $20B Frontier Takeover

    Debevoise & Plimpton LLP is guiding Verizon Communications Inc. on a deal disclosed Thursday that will see the telecommunications giant absorb Cravath Swaine & Moore LLP-advised Frontier Communications at a $20 billion enterprise value. 

  • September 12, 2024

    Bird & Bird Recruits M&A Partner In Frankfurt Amid Growth

    Bird & Bird LLP has hired a business expert as a partner in Frankfurt as the firm bolsters its growing corporate practice internationally, with a keen eye on its new office in Japan.

  • September 05, 2024

    CVC Raises €7.4B Of Capital In 1st Results After Listing

    European private equity firm CVC Capital Partners PLC said Thursday that it has raised €7.4 billion ($8.2 billion) in fresh capital during the first six months of 2024 as it published its first set of results since its €2 billion flotation in Amsterdam.

  • September 04, 2024

    SEC Lets Deadline Pass For 5th Circ. Private Funds Appeal

    The U.S. Securities and Exchange Commission won't challenge a Fifth Circuit decision that vacated its recently passed disclosure rules for private fund advisers, taking no action as its deadline to appeal to the U.S. Supreme Court passed.

  • September 04, 2024

    PE Advisers Flouted Registration Requirements, SEC Says

    A pair of Florida-based private equity advisers and their CEO have agreed to settle U.S. Securities and Exchange Commission allegations that they broke federal securities laws by improperly declaring themselves exempt from registering as advisers to private funds, according to the agency.

  • September 04, 2024

    Icahn Enterprises Investor Sues Alleging 'Ponzi-Like' Scam

    An Icahn Enterprises LP investor hit the partnership's billionaire founder Carl Icahn and its board with a derivative suit in Florida federal court Tuesday, accusing them of hiding "highly significant" risks, including the partnership's alleged "Ponzi-like" structure, which purportedly inflated its price and exposed it to regulatory probes and litigation.

  • September 04, 2024

    Cheer Parents Request $35M In Fees, Costs For Antitrust Deal

    Three moms that reached an $82.5 million settlement with Varsity Brands in litigation claiming the cheerleading giant stifled competition and raised participation costs asked a Tennessee federal court Wednesday for $35 million of that fund to pay their attorneys' fees and costs.

  • September 04, 2024

    Ex-CEO Sues Ferry Co.'s Private-Equity Buyer

    The former CEO of a company that operates a ferry service has told a Michigan federal court that he was wrongly terminated and then badmouthed by the company's new private-equity owners.

  • September 04, 2024

    Apollo Defends $570M Controller Deal In Chancery Suit

    An attorney for Apollo Global Management Inc. pushed back Wednesday in Delaware's Court of Chancery on stockholder claims that former company chairman and former CEO Leon Black and two others dominated the business in the runup to a $570 million payout to the three insiders in 2021.

  • September 04, 2024

    Orrick-Led Epam Systems Buys Neoris In $630M Cash Deal

    Orrick Herrington & Sutcliffe LLP-steered software engineering business Epam Systems Inc. will acquire Miami-based advanced technology company Neoris for $630 million in cash, the companies announced Wednesday.

  • September 04, 2024

    Fintech Investor Tries To Undo 'Formulistic' Nix Of NCino Suit

    A pension fund invested in financial technology company nCino Inc. urged Delaware's Supreme Court on Wednesday to revive its suit against company directors and investment firm Insight Venture Partners over a $1.2 billion acquisition, arguing the Chancery Court "missed the mosaic for the tiles" by dismissing the case.

  • September 04, 2024

    Nordstrom Family Makes Takeover Offer, Valuing Biz At $3.8B

    Nordstrom Inc. confirmed Wednesday that it received a proposal from a group that includes its CEO Erik Nordstrom and brother Pete to acquire the company for $23 per share in cash, which values the company around $3.8 billion.

  • September 04, 2024

    Kirkland-Led Warburg Pincus Lands $4B For Latest Fund

    Kirkland & Ellis-advised investment firm Warburg Pincus has closed its Capital Solutions Founder Fund, securing commitments of more than $4 billion to pursue research-based opportunities in the market less than a year after closing its largest fund ever, according to a Wednesday announcement.

  • September 04, 2024

    Simpson Thacher-Led Blackstone Inks $16.2B AirTrunk Deal

    Simpson Thacher & Bartlett LLP-led Blackstone Inc. said Wednesday it has agreed to acquire AirTrunk, an Australia-based data center platform focused on the Asia-Pacific region, from Macquarie Asset Management and the Public Sector Pension Investment Board at an implied enterprise value of over AU$24 billion ($16.2 billion).

  • September 04, 2024

    Investment Biz Sells Stake In UK Rival For Up To $258M

    Petershill Partners PLC, an investment business operated by Goldman Sachs, said Wednesday it has completed the sale of its entire stake in investment manager LMR Partners in a deal worth up to $258 million.

  • September 04, 2024

    Investors Get 3rd Extension For £253M Bid For Payments Co.

    Payments technology company Equals said Wednesday that the Panel on Takeovers and Mergers has granted its request to extend a deadline for the third time for a consortium of investors to confirm or cancel their proposed £253 million ($332 million) takeover bid.

  • September 04, 2024

    Mishcon Helps Starwood Capital Buy UK REIT For £674M

    U.S. investment firm Starwood Capital Group said Wednesday that it will buy a British real estate investment trust for £674 million ($884 million), hoping it will perform better as a private company after facing challenges in a tough property market.

  • September 03, 2024

    PE Firm Investors Say False SEC Filings Caused Big Losses

    Private equity firm Migom Global Corp., its subsidiary bank and its CEO have been named in a proposed securities class action alleging they inflated financial statements filed with the U.S. Securities and Exchange Commission to conceal their diversion of tens of millions of dollars in customer deposits to personal ventures.

  • September 03, 2024

    Aspire Biopharma Inks SPAC Deal At $316M Valuation

    Aspire Biopharma Inc., advised by Sichenzia Ross Ference Carmel LLP, on Tuesday announced that it will go public through a merger with special purpose acquisition company PowerUp Acquisition Corp., led by Dykema Gossett PLLC, in a transaction that values the business at a pre-money equity value of roughly $316 million.

  • September 03, 2024

    Adviser Lied About Wall Street Skyscraper Digs, SEC Says

    A purported $10 million private fund investment adviser faces U.S. Securities and Exchange Commission allegations that it lied about being a public company with an office on Manhattan's Wall Street as part of a filing in which it claimed registration exemption.

  • September 03, 2024

    Kirkland Brings On Ex-Goldman Sachs Debt Finance Pro In NY

    Kirkland & Ellis LLP said Tuesday it has added an experienced debt finance partner in New York who most recently worked as a managing director for Goldman Sachs, in the firm's latest move to bulk up its structured finance and structured private credit practice.

  • September 03, 2024

    Cozen O'Connor Adds 13 Clark Wilson Lawyers In Vancouver

    Cozen O'Connor announced on Tuesday that it has expanded its Canadian presence by adding a team of 22 legal professionals, including 13 lawyers and nine support staff, from Clark Wilson LLP to its fast-growing Vancouver office.

  • September 03, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's court of equity, an iconic rock band got a new member, former President Donald Trump's social media company escaped a contempt ruling, and litigation grew over Illumina Inc.'s $8 billion reacquisition of cancer-testing company Grail Inc. New cases touched on intellectual property, mergers, share transfers and dump trucks. In case you missed it, here's the latest from Delaware's Court of Chancery.

  • September 03, 2024

    Paul Weiss Adds Ex-Fried Frank Atty To Lead Fund Finance

    Paul Weiss Rifkind Wharton & Garrison LLP has added an asset management specialist previously with Fried Frank Harris Shriver & Jacobson LLP as head of its fund finance group, the firm announced Tuesday.

  • September 03, 2024

    Bain One-Ups KKR's $4B-Plus Bid In Battle For Fuji Soft

    Private equity firm Bain Capital said Tuesday that it made a nonbinding offer to take Fuji Soft private, as Bain pushed the Japanese software developer to open up formal discussions for the $4 billion-plus tender offer so it has a chance to beat out rival bidder KKR.

Expert Analysis

  • 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.

  • 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.

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