Private Equity

  • July 30, 2014

    DC Judge Asked To Nix CFTC Cross-Border Swaps Rules

    Several Wall Street lobbying groups urged a D.C. federal judge on Wednesday to vacate the Commodity Futures Trading Commission's controversial cross-border swaps rules, maintaining the agency failed to conduct necessary rulemaking procedures before setting up the regulations.

  • July 30, 2014

    Bankrupt Natrol Gets Nod For Cerberus Settlement

    A Delaware bankruptcy judge on Wednesday blessed a settlement between nutritional supplement maker Natrol Inc. and private equity lender Cerberus Business Finance LLC, removing the specter of litigation that threatened to bog down the vitamin company’s reorganization plans.

  • July 30, 2014

    Carlyle Profits Surge With Strong European Exits

    Carlyle Group LP, last quarter’s most active private equity buyer, said Wednesday it will continue “selective” buying but will be aggressive as it pursues sales to cull its portfolio of companies, as it announced a big gain in profits for the second quarter.

  • July 30, 2014

    DOJ Forces Sale In $330M PE-Backed Aviation Merger

    The U.S. Department of Justice on Wednesday ordered Landmark Aviation to shed service operations at an Arizona airport as a condition of its $330 million acquisition of rival Ross Aviation in order to resolve competition problems with the deal.

  • July 30, 2014

    PE Deals See Wind-Down Of Post-Crisis, Go-Shop Provisions

    Private equity firms are using some deal provisions that became prominent during and after the financial crisis less and less, while also backing away from go-shop provisions, according to a new survey of 49 large deals last year by Weil Gotshal & Manges LLP.

  • July 30, 2014

    Worker Fired For Reporting Harassment At PE Firm, Suit Says

    A former graphic designer for NYG Capital LLC sued the company and its embattled CEO Benjamin Wey in New York state court Tuesday, alleging he was fired for reporting Wey's sexual harassment of an employee who last week sued the company for $850 million.

  • July 30, 2014

    Kirkland Reps GTCR In Latest Deal For Health Tech Company

    The summer is shaping up to be a busy time for Chicago-based private equity firm GTCR LLC, which announced its third deal this month on Wednesday — a buyout of health care-technology company XIFIN Inc. for an undisclosed amount.

  • July 30, 2014

    3i Group Sticks To Exits In Competitive Deal Market

    British middle-market private equity firm 3i Group said Wednesday that while it is raking in a good amount of cash by selling out of existing investments, it didn't make a single purchase last quarter, wary of high prices and strong competition.

  • July 30, 2014

    JinkoSolar Nets $225M PE Injection For Downstream Solar Biz

    JinkoSolar Holding Co. Ltd. said on Wednesday that three different investors will be injecting a combined $225 million in private equity investments into the Chinese solar manufacturing company in a move meant to bolster its downstream solar power project division.

  • July 30, 2014

    Dealmakers Q&A: Moses & Singer's James Alterbaum

    Many companies seeking to raise equity or quasi-equity capital do not realize that dealing with an unregistered broker-dealer will not only expose the broker but also the issuer of the securities, says James Alterbaum of Moses & Singer LLP.

  • July 30, 2014

    Dealmakers Q&A: Nixon Peabody's Phil Taub

    We have noticed that a buyer who wants to distinguish itself from the other bidders needs to go beyond offering the best price, which gives the bigger private equity shops a big advantage in winning deals in the middle market, says Phil Taub, co-leader of Nixon Peabody LLP's private equity transactions practice.

  • July 29, 2014

    KFN, KKR Seek To Ax Chancery Suit Over $2.6B Deal

    Directors of KKR Financial Holdings LLC urged a Delaware Chancery Court judge Tuesday to toss a putative class action brought by KFN shareholders allegedly shortchanged in a $2.6 billion takeover by KKR & Co. LP, contending the deal was a legitimate exercise of their business judgment.

  • July 29, 2014

    Big Banks Shed Loans Under Regulatory, Business Pressure

    The world's biggest banks often play a key role in dealmaking by helping to bring buyers and sellers together, but this summer, these financial institutions are increasingly taking on a new role — that of seller — as they shed large debt portfolios.

  • July 29, 2014

    Suit Alleging Shareholder Caused ProxyMed Bankruptcy Is Cut

    A Delaware federal judge on Monday tossed one claim and left the other two intact in a suit alleging that the actions of private equity firm General Atlantic LLC and its managing director led to the bankruptcy of ProxyMed Inc., which provided information technology services to doctors, pharmacies and labs.

  • July 29, 2014

    Electra Snubs Sherborne’s Bid To Join Board, Review Firm

    Electra Private Equity PLC dismissed activist investor Edward Bramson’s bid to join the board and lead a review of the London-listed firm Tuesday, standing by its investment strategy and its boardroom of wholly independent, nonexecutive directors.

  • July 29, 2014

    Activists Notch Win In Darden Fight, Vow To Keep Up Battle

    The activist investors long targeting Darden Restaurants Inc. got a boost this week when the company offered up several board seats and said its much-criticized dual chairman and CEO would step down, but the concessions did little to ease what has swelled into this year's most prominent activist battle.

  • July 29, 2014

    Affinity Gaming Ends Shareholder Feud With Board Change

    Casino owner Affinity Gaming has agreed to reshuffle its board of directors in order to dismiss pending shareholder litigation over its implementation of alleged “poison pill” provisions to keep certain private equity shareholders from taking control, according to a Monday statement.

  • July 29, 2014

    Cliffs Investors Pick All 6 Casablanca Nominees For Board

    The hot-blooded boardroom battle between Cliffs Natural Resources Inc. and major investor Casablanca Capital LP appears to be over, as preliminary voting results show that all six of Casablanca's nominees were elected to the Cliffs board of directors on Tuesday.

  • July 29, 2014

    Deals Rumor Mill: Pepe Jeans, Leighton, Sprint

    Private equity-backed clothing retailer Pepe Jeans is looking to sell its business, which could fetch as much as $941 million, while City Developments and Stockland Group are said to be vying for Leighton Holdings' $7 billion residential and commercial property portfolio.

  • July 29, 2014

    India's Flipkart Rakes In $1B In Fresh Funding

    Indian e-commerce hub Flipkart said Tuesday it raised $1 billion in its latest funding round, the largest sum ever for an Indian Internet company, providing a huge equity infusion the company says will help it capitalize on the country’s embrace of mobile technology.

Expert Analysis

  • A Case For Synthetic Investment In US Real Estate

    Jeffrey L. Rubinger

    As a result of the dramatic rise in foreign investment in U.S. real estate and federal income taxes imposed under the Foreign Investment in Real Property Tax Act, foreign investors should once again consider investing synthetically through a total return swap, especially considering a recent IRS ruling, says Jeffrey Rubinger of Bilzin Sumberg Baena Price & Axelrod LLP.

  • Death Rattle For Unfinished Business Claims?

    Angelo G. Savino

    In a departure from Jewel v. Boxer, the decisions in the cases of Thelen LLP and Heller Ehrman LLP reflect a shift in the manner by which courts treat trustees’ claims for post-dissolution fees, say Angelo Savino and Julie Moeller Albright of Cozen O'Connor.

  • How To Successfully Get Engaged By A Cayman Liquidator

    Jeremy Snead

    Recent shifts in Cayman Islands law mean that Cayman liquidators are now able to retain foreign lawyers for the liquidation of Cayman-registered funds on more flexible terms, and utilize methods of funding that are not otherwise permissible in the territory, say Tony Heaver-Wren and Jeremy Snead of Appleby (Cayman) Ltd.

  • SDNY Weighs In On Third-Party Releases In Bankruptcy

    Frank Grese

    U.S. Bankruptcy Judge Sean Lane of the Southern District of New York in the case of Genco Shipping & Trading Limited waded into the controversy by considering the appropriateness of third-party releases — and nonconsensual ones at that, says Frank Grese of Weil Gotshal & Manges LLP.

  • Litigator’s Perspective: 5 Tips On Arbitration Provisions

    Daniel T. McCloskey

    It happens all the time. When a dispute arises, two parties find themselves in arbitration, realizing that they might have had more leverage to dictate the terms of the process when they were negotiating the arbitration provision — but missed the opportunity, says Daniel McCloskey of Duane Morris LLP.

  • Amid M&A Uptick, Bidders Must Heed UK Code Changes

    Ilan Kotkis

    Potential bids by U.S. suitors for U.K. target companies in the pharmaceutical and health care sectors seem to be a recurring theme this year

  • What PE Funds Need To Know About Sovereign Immunity

    Gavin Anderson

    Governmental investors in private equity funds may sometimes be protected from legal recourse in ways that other investors are not, but such immunity can be addressed in negotiations — and a carefully drafted waiver clause in the relevant transaction documents, say Shannon Rose Selden and Gavin Anderson of Debevoise & Plimpton LLP.

  • Trial-Ready In 180 Days: Prepare For SDNY's Rocket Docket

    Isaac S. Greaney

    A growing trend in the Southern District of New York akin to a sua sponte rocket docket can provide defendants with an opportunity to set the tone of discovery and shift the burden and risks of the schedule to their adversaries, say Isaac Greaney and Jackie Lu of Sidley Austin LLP.

  • 5 Takeaways From Latest US Sanctions Against Russian Cos.

    Alexandra Lopez-Casero

    The latest round of U.S. sanctions against Russia’s oil, natural gas and financial industries is a dramatic departure from how the United States has applied targeted sanctions in the past, and raises several questions, say Alexandra Lopez-Casero and D. Grayson Yeargin of Nixon Peabody LLP.

  • Powerful Tools For Discovery And Litigation Strategy

    Nathalie Hofman

    Analytics offer opportunities for refining both discovery strategy and overall litigation strategy by providing information to support better informed decisions. As an added bonus, they can result in significant cost savings, say Nathalie Hofman and Carolyn Southerland of Huron Consulting Group Inc.