Private Equity

  • August 02, 2024

    Ares Sees Single-Best Fundraising Quarter In Firm History

    Asset management giant Ares Management Corp. on Friday boasted its most successful period of fundraising in the firm's 27-year history, raising $26 billion of capital in 2024's second quarter and marking $43 billion raised year-to-date.

  • August 02, 2024

    Real Estate Recap: Grants Pass, Population Data, CMBS Risk

    Catch up on the past week's key developments by state from Law360 Real Estate Authority — including city and state reactions to the U.S. Supreme Court's ruling on homeless encampments, a new proptech venture leveraging population data for investors and developers, and one BigLaw leader's view of which sectors are most sensitive to commercial mortgage-backed securities distress.

  • August 02, 2024

    Ex-Loeb Tax Atty Latest Addition To Kilpatrick's NY Team

    A former Loeb & Loeb LLP attorney is bringing his experience in U.S. federal tax matters and real estate transactions to Kilpatrick Townsend & Stockton LLP, the firm announced Thursday.

  • August 02, 2024

    SEC Narrows Its Rulemaking Focus As Election Looms

    The U.S. Securities and Exchange Commission's aggressive rulemaking spree is showing signs of dwindling as November elections loom, although several proposals could be primed for autumn votes if regulators wish to tackle hot-button topics.

  • August 02, 2024

    Ex-CFO Of Embattled PE Firm Sues In Del. For Legal Fees

    The former chief financial officer of 777 Partners LLC has sued the private equity firm in Delaware's Court of Chancery, seeking advancement of his legal fees in connection with a fraud investigation and at least 20 civil lawsuits related to the company's business.

  • August 02, 2024

    Banking Vet Still Has Work To Do As Paul Weiss M&A Head

    After a long tenure in banking, including as Morgan Stanley's global head of mergers and acquisitions, Rob Kindler could have rested on his laurels. Instead, Kindler joined Paul Weiss as its global chair of M&A and has led the team that represented Envestnet Inc. on its July 11 deal to sell the business to Bain Capital for $4.5 billion. He spoke with Law360 about what he sees ahead.

  • August 01, 2024

    More 'Equitable' Banking? This Ex-Biden Official Has A Plan

    A former Biden U.S. Treasury Department official on Thursday outlined a progressive policy agenda that could provide a road map for bank regulators in the next administration, saying there's more that can and should be done to make the banking system stronger and fairer.

  • August 01, 2024

    GPB Capital Execs Convicted Of Fraud For $1.8B Scheme

    A New York federal jury on Thursday convicted former GPB Capital executives of wire and securities fraud charges stemming from allegations they ran the private equity fund like a $1.8 billion Ponzi scheme, according to an announcement from the U.S. Department of Justice.

  • August 01, 2024

    Lewis Brisbois Slams RICO Claims Alleging 'Sham' Suits

    Lewis Brisbois Bisgaard & Smith LLP has urged a California federal judge Tuesday to toss Chinese investors' accusations that its attorneys filed lawsuits to cover their failure to read "draconian" contract terms that led the investors to lose their $92.5 million stake in a $2.5 billion Los Angeles mixed-used development.

  • August 01, 2024

    Sidley Launches New San Diego Office With Five Partners

    Sidley Austin LLP has opened a new office in San Diego, with five partners specializing in a range of areas including mergers and acquisition, venture capital and global finance, marking the global law firm's fifth office in the Golden State, the firm announced Thursday.

  • August 01, 2024

    Goodwin Procter Reps Behrman Unit In $475M Sale To ITT

    Private equity firm Behrman Capital, guided by Goodwin Procter LLP, has agreed to sell its portfolio company kSARIA Holdings to global manufacturer ITT Inc. in a $475 million transaction, according to an announcement Thursday.

  • August 01, 2024

    Latham, Ellenoff Rank Among Top Firms For July IPOs

    Latham & Watkins LLP and Ellenoff Grossman Schole LLP were among the leading law firms that steered the most initial public offerings during July, which marked the year's busiest month in terms of IPO proceeds.

  • August 01, 2024

    AI-Focused Chipmaker Cerebras Confidentially Files IPO Plans

    Silicon Valley-based artificial intelligence startup Cerebras Systems Inc. said Thursday it has confidentially filed plans for an initial public offering with the U.S. Securities and Exchange Commission, joining other AI-linked companies in the IPO pipeline.

  • August 01, 2024

    EU Approves $18B Grain Deal With Asset Sales

    European enforcers on Thursday approved grain and seed supplier Bunge Ltd.'s plan to buy global grain trader Viterra Ltd. in an $18 billion deal, conditioned on the sale of Viterra's oilseed businesses in Hungary and Poland.

  • August 01, 2024

    Weil-Led Goldman Sachs Plugs $440M Into Power Biz

    Renewable power company BrightNight on Thursday announced that it has secured a $440 million strategic investment from Goldman Sachs Alternatives' infrastructure business, which is led by Weil Gotshal & Manges LLP.

  • August 01, 2024

    Deals Rumor Mill: BNP Paribas, Blackstone, Honeywell

    The deals rumor mill is often overflowing with transactions that are reportedly close to being signed, so it can be hard to know which ones to stay on top of. Here, Law360 breaks down the notable deal rumors from the past week.

  • August 01, 2024

    Brookfield Buys Thermal Management Biz In $1.7B Deal

    nVent, a London-based electrical connection and protection solutions provider advised by Foley & Lardner, announced Thursday it has agreed to sell its thermal management segment to funds run by private equity shop Brookfield Asset Management, represented by Simpson Thacher, for $1.7 billion in cash.

  • August 01, 2024

    Mass. Could Be New Front In The Battle Over Jury Trial Right

    Following the U.S. Supreme Court's ruling granting defendants facing administrative civil penalties the right to a jury trial, experts say a similar challenge in Massachusetts is likely, but may not find as receptive a judicial audience.

  • July 31, 2024

    Ackman's New Investment Fund Calls Off Planned $2B IPO

    Bill Ackman's new investment fund Pershing Square USA on Wednesday called off its initial public offering just a day after setting a $2 billion fundraising target, which was down significantly from earlier estimates.

  • July 31, 2024

    Steward Health Care Gets OK To Close 2 Mass. Hospitals

    A Texas bankruptcy judge Wednesday approved the closure of two Massachusetts hospitals owned by Steward Health Care after the debtor said that it was unable to find buyers for them.

  • July 31, 2024

    SEC Settles Reg BI Case Against Calif. Broker-Dealer

    The U.S. Securities and Exchange Commission announced Wednesday it has agreed to settle allegations that Western International Securities Inc. sold more than $13 million in high-risk debt securities to those with lower risk profiles, marking the potential end of a first-of-its kind enforcement action claiming violations of Regulation Best Interest.

  • July 31, 2024

    Doc 'Muddle' Stalls Trump Media SPAC Figure's Ouster Suit

    Pointing to multiple, conflicting operating agreement versions, a Delaware vice chancellor said she was unable to rule Wednesday on a suit to uphold dismissal of the managing member of a blank check company sponsor for the deal that took former President Donald Trump's social media company public.

  • July 31, 2024

    Ares Rakes Up Nearly $34B For 3rd Direct Lending Fund

    Alternative investment management giant Ares Management Corp., advised by Proskauer Rose LLP, said Wednesday that it had successfully closed its third direct lending fund, which is expected to boast a total capital base of roughly $33.6 billion.

  • July 31, 2024

    Mental Health Biz Hits $3.3B Valuation After Funding Round

    Behavioral health solutions provider Spring Health announced Wednesday it reached a valuation of $3.3 billion following the closing of its Series E funding round, in which the company raised $100 million.

  • July 31, 2024

    UPDATE: Paramount Global Bid Called Into Question After Announcement Pulled

    The validity of a purported $43 billion takeover offer for Paramount Global from Apex Capital is being called into question, after the press release service that published the announcement removed it.

Expert Analysis

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • 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.

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