Private Equity

  • February 07, 2024

    With PE Exits Set To Surge, Buyers Must Act Quickly, Wisely

    Private equity exits are expected to rebound this year after a decade low in 2023, as investment time horizons expire and investors demand returns, but strategic buyers will need to act quickly and keep a finger on the market's pulse as competition heats up.

  • February 07, 2024

    4 Private Equity Firms Wrap Funds Totaling $1.45B

    Four private equity funds announced Wednesday that they have held final closings for investment vehicles that in total raised around $1.45 billion, the largest of which was a $900 million debut fund from Latham & Watkins LLP-led Coalesce Capital.

  • February 07, 2024

    REIT Raises $672M IPO At Low End While Insurer Pulls Plans

    Senior housing real estate investment trust American Healthcare REIT Inc. rose in debut trading Wednesday after pricing a $672 million initial public offering at the bottom of its range, while insurer The Fortegra Group Inc. canceled its offering given market conditions, revealing mixed signals about the nascent IPO recovery.

  • February 07, 2024

    Fund Formation Group Of The Year: Fried Frank

    Fried Frank Harris Shriver & Jacobson LLP attorneys counseled on the formation of multibillion-dollar funds, including five totaling $37 billion for Goldman Sachs, a €16.7 billion ($18 billion) fund for Permira and a $17 billion fund for Brookfield Asset Management, landing the firm among Law360's 2023 Fund Formation Groups of the Year.

  • February 06, 2024

    2nd Circ. Won't Nix Award In Telecom Shareholder Fight

    The Second Circuit affirmed an arbitration award ordering the sale of a Latin American telecommunications tower after telling the contesting shareholders during oral argument it sounded like they had "buyer's remorse" about choosing arbitration.

  • February 06, 2024

    Real Estate Rumors: Valley National, Carlyle, Peachtree

    Valley National Bank is said to have loaned $21.3 million for a self-storage project in Florida, a Carlyle Group venture has reportedly paid $265 million for a Manhattan luxury rental tower and Peachtree Group has reportedly loaned $34.5 million for a student housing complex in Florida.

  • February 06, 2024

    McDermott-Led 3 Boomerang Nabs $375M For Debut Fund

    Healthcare-focused private equity firm 3 Boomerang said Tuesday that it had wrapped fundraising for its inaugural investment vehicle, 3 Boomerang Capital I LP, with over $375 million in capital commitments, led by McDermott Will & Emery LLP.

  • February 06, 2024

    Davis Malm Guides Clean Harbors On $400M Hepaco Buy

    Davis Malm & D'Agostine PC-advised Clean Harbors Inc. said Tuesday it has struck an agreement with private equity firm Gryphon Investors to acquire its majority-owned portfolio company Hepaco, a provider of environmental and emergency response services, for $400 million in cash.

  • February 06, 2024

    SEC Expands Dealer Rule To Proprietary Traders, Private Funds

    A divided U.S. Securities and Exchange Commission passed a pair of rules Tuesday that now include proprietary trading firms and some hedge funds in its definition of securities dealers, expanding the agency's oversight authority that one dissenting commissioner called "another salvo in the commission's war on private funds."

  • February 06, 2024

    AI Operating System Built For Healthcare Lands $70M

    San Francisco-based Ambience Healthcare, a generative AI technology startup targeting the medical world, has raised $70 million in Series B funding, the company announced Tuesday.

  • February 06, 2024

    SAS Gets Clearance For Ch. 11 Plan Vote

    A New York bankruptcy judge on Tuesday congratulated SAS, the Stockholm-based owner of Scandinavian Airlines, for avoiding turbulence in its Chapter 11 case and granted the debtor permission at a hearing to send its reorganization plan out for a creditor vote.

  • February 06, 2024

    Cybersecurity Biz To Go Private Following $350M Merger

    External cybersecurity provider ZeroFox Holdings Inc., advised by Venable LLP, will no longer be a public company following its all-cash $350 million acquisition by private equity firm Haveli Investments, led by Ropes & Gray LLP, according to a Tuesday statement.

  • February 06, 2024

    Fund Formation Group Of The Year: Debevoise

    Debevoise & Plimpton LLP worked with Clayton Dubilier & Rice LLC on its largest-ever fundraise and advised KKR & Co. Inc. in the formation of its $8 billion European fund, among other achievements, earning the firm a spot among Law360's 2023 Fund Formation Groups of the Year.

  • February 06, 2024

    Blackwells Starts Disney Proxy Fight, Blasts Fellow Activist

    Activist investor Blackwells Capital officially launched its proxy fight with Disney on Tuesday, urging the entertainment behemoth's shareholders to vote for its three board nominees and opposing the two offered up by fellow activist Trian Fund Management.

  • February 06, 2024

    Kirkland-Led Trinity Hunt Partners Raises $700M For 7th Fund

    Growth-oriented private equity shop Trinity Hunt Partners, advised by Kirkland & Ellis LLP, on Tuesday announced that it closed its seventh fund at its hard cap of $700 million, which will be used to invest in and build small-cap companies.

  • February 05, 2024

    5th Circ. Casts Doubt On SEC's New Private Fund Rules

    The Fifth Circuit on Monday questioned the U.S. Securities and Exchange Commission's authority to pass recent regulations governing private fund advisers that have drawn sharp criticism from the industry, although one judge suggested the court could stop short of nixing the rules in their entirety.

  • February 05, 2024

    Catching Up With Delaware's Chancery Court

    Last week, Delaware's chancellor gave us 55 billion reasons to keep an eye on the First State in a case involving Tesla CEO Elon Musk's pay package, while the court of equity also took on cryptocurrency, artificial intelligence, space flight and country music.

  • February 05, 2024

    SoftwareOne Investors Want Board Gone After Buyout Refusal

    A shareholder group that owns 29% of software and cloud solutions provider SoftwareOne has demanded an extraordinary general assembly to call for the wholesale removal of the company's board after it rejected a multibillion-dollar bid from Bain Capital.

  • February 05, 2024

    Hedge Fund Sues SPAC For Books On Failed Casino Deal

    A New York hedge fund on Monday sued a special purpose acquisition company for books and records related to a failed $2.6 billion deal to take a casino public in Manila, the Philippines.

  • February 05, 2024

    Audacy Abandons BMI Merger Suit With $25.4M Stock Deal

    Audacy Inc. has agreed to drop a potential shareholder lawsuit over performing rights company Broadcast Music Inc.'s sale to an investor group in exchange for at least $25.4 million in stock under a settlement approved by a Texas bankruptcy judge on Monday.

  • February 05, 2024

    Carnelian Energy Capital Secures $975M For 5th Fund

    Energy investment firm Carnelian Energy Capital LP on Monday revealed that it held the first and final closing of its fifth fund after securing $975 million in limited partner capital commitments.

  • February 05, 2024

    Leon Black Says Rape Accuser, Firm Can't Ax NY Suit

    Claims of sexual abuse and defamation leveled against former Apollo Global Management CEO Leon Black were not a matter of public interest, Black told a New York judge, arguing his accuser and her counsel at the time cannot dispose of his malicious prosecution suit by claiming they were protected by the state's anti-SLAPP law.

  • February 05, 2024

    A-Rod's SPAC Solidifies Satellite Mobile Phone Co. Merger

    Just over a month after signing a nonbinding letter of intent to merge, Goodwin Procter LLP-advised satellite-to-phone business Lynk Global Inc. and Kirkland & Ellis LLP-led Slam Corp., the blank-check company of former New York Yankees star Alex Rodriguez, have entered into a definitive agreement to merge in a $800 million deal.

  • February 05, 2024

    Gene-Editing Firm Taps IPO Wave With Plans To Raise $100M

    Gene-editing medicines developer Metagenomi Inc. on Monday unveiled a price range on an estimated $100 million initial public offering, represented by Goodwin Procter LLP and underwriters counsel Davis Polk & Wardwell LLP, joining a busy IPO market for life sciences companies.

  • February 05, 2024

    Kirkland Guides Thoma Bravo On $1.5B Everbridge Buy

    Kirkland & Ellis LLP-led Thoma Bravo has agreed to purchase Everbridge, represented by Cooley LLP, in a take-private deal that values the critical event management software company at approximately $1.5 billion, the companies said Monday.

Expert Analysis

  • How Fla. Bankruptcy Ruling May Affect Equity Owners

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    A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.

  • How Shareholder Activists Are Targeting Insurers

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    As shareholder activists take a closer look at the insurance industry, they are pushing insurers to take value-enhancing and climate-related measures — but insurers can prepare by anticipating activist concerns, maintaining robust shareholder engagement, and considering changes in response to the universal proxy rules, say attorneys at Debevoise.

  • Unlocking Value In Carve-Out M&A Transactions

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    Some of the largest mergers and acquisitions in 2023 were carve-out transactions, and despite their unique intricacies and challenges, these transactions offer both buyers and sellers the opportunity to generate outsized returns in an otherwise vigorously competitive landscape, when carefully planned and diligently executed, say Kevin Crews and Rami Totari at Kirkland.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • Why Public Cos. Should Also Comply With SEC's Names Rule

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    While the U.S. Securities and Exchange Commission's updated Names Rule specifically clarifies that funds must consider ESG factors in their investment strategies if their names so imply, public companies should also heed the message and conduct business consistent with the way they market or advertise themselves, says Spencer Feldman at Olshan Frome.

  • Series

    ESG Around The World: The UK

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    Following Brexit, the U.K. has adopted a different approach to regulating environmental, social and governance factors from the European Union — an approach that focuses on climate disclosures by U.K.-regulated entities, while steering clear of the more ambitious objectives pursued by the EU, say attorneys at Dechert.

  • Best Practices For Cos. Navigating US-China Investigations

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    Given recent enforcement trends and the broad jurisdictional reach of U.S. laws, companies with operations in China must enhance their compliance programs in order to balance new corporate enforcement expectations with Chinese data protection and privacy requirements, say attorneys at Paul Hastings.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Planning Compliance For Updated FinCEN Reporting Rules

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    Although the Financial Crimes Enforcement Network's reporting deadline for beneficial ownership information may seem far off, companies should act now to determine which corporate entities must report and what information must be collected, given the potential time, resources and legal questions involved, say attorneys at Crowell & Moring.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Series

    Playing In A Rock Cover Band Makes Me A Better Lawyer

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    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • Series

    The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • Calif. GHG Disclosure Law Will Affect Companies Worldwide

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    California's Climate Corporate Data Accountability Act, which will require comprehensive greenhouse gas emissions disclosures from large companies operating in the state, will mean compliance challenges for a wide range of industries, nationally and globally, as the law's requirements will ultimately trickle out and down, say attorneys at Brownstein Hyatt.

  • How To Navigate The FTC's New Private Equity Frontier

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    The Federal Trade Commission's recent district court complaint against an anesthesia firm and its private equity partner tests key bounds of the agency's stand-alone authority, and defense strategies can include challenges to both the geographic and the service market fronts, say attorneys at Baker McKenzie.

  • Opinion

    Newman Suspension Shows Need For Judicial Reform

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    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

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