Private Equity

  • May 25, 2016

    Samson Creditors Seek To Wrest Control Of Ch. 11

    The committee representing Samson Resources Corp.’s unsecured creditors on Tuesday sought to wrest control of the oil driller’s Delaware Chapter 11 case from the company’s secured lenders, accusing Samson of using tools in the restructuring to secure broad liability releases for private equity owners over a 2011 leveraged buyout.

  • May 25, 2016

    Funding For VC-Backed Fintech Soars To $5B In Q1

    Financial technology companies netted $4.9 billion in first-quarter global investments, marking a huge jump from the previous quarter's $1.9 billion and bucking a broader pullback in venture capital-backed investment this year, though struggling public markets could dampen enthusiasm, according to a new report.

  • May 25, 2016

    UK Equity Funding Soars, But Disparities Persist: Report

    Equity investment in U.K. small businesses soared 58 percent in 2015, but large regional disparities remain, according to a report Wednesday by a state-owned economic development bank, which said it is putting programs in place to alleviate shortfalls outside of London. 

  • May 25, 2016

    PE Bolt-Ons Pick Up In Canada During Lull In Big-Money Deals

    A stagnation in big-money private equity deals in Canada has given way to a greater reliance on smaller, add-on acquisitions known as bolt-ons, a developing trend experts say is caused by factors including uncertainty in the global markets and continued struggles in the oil and gas industry.

  • May 25, 2016

    Energy Spectrum Plugs $100M Into BlueJack Energy Solutions

    Private equity firm Energy Spectrum has agreed to inject $100 million into BlueJack, a recently formed Texas-based company that funds, develops and operates waste stream solutions for producers in the Permian Basin and Marcellus and Utica shale plays, the companies said Wednesday.

  • May 25, 2016

    Deals Rumor Mill: Stada Arzneimittel, Yahoo, Infraero

    German health care products company Stada Arzneimittel could sell to CVC Capital Partners for up to $4.1 billion, AT&T is still in the running to buy Yahoo's core internet business, and Brazilian airport oversight agency Infraero hopes to raise $1.4 billion by selling stakes in five airports.

  • May 25, 2016

    NY Global Intern Gets Help Collecting $6M From 'Stalker' CEO

    A New York federal court Wednesday issued a writ of execution that could potentially assist former New York Global Group intern Hanna Bouveng in collecting a $5.7 million judgment against Benjamin Wey, the now-indicted private equity captain who was found liable for defaming and stalking his former employee.

  • May 25, 2016

    Carlyle To Trim Stake In Axalta Through $702M Share Sale

    The Carlyle Group plans to shed another large stake in Axalta Coating Systems Ltd. with an offering that could raise up to $702.8 million and drop the private equity giant’s stake in the company below 20 percent, the automotive and industrial coatings company said Tuesday.

  • May 25, 2016

    Phoenix Equity Nets $174.5M In Sale Of Safety Consultant Co

    Private equity firm Phoenix Equity Partners has agreed to sell safety consultancy firm Edif Group to Italy-based Rina SpA in a deal worth £118.5 million ($174.2 million), the companies said Wednesday, bolstering Rina’s presence in the U.K.

  • May 25, 2016

    Morgan Lewis Guides Lime Rock On $754M Fund Close

    Energy-focused private equity outfit Lime Rock Management LP on Wednesday said that it has closed its fourth Lime Rock Resources fund with $754 million, with guidance from Morgan Lewis & Bockius LLP, to invest in U.S. oil and gas properties.

  • May 24, 2016

    Wayfair Ducks Suit Alleging Competitor Omission In IPO

    A New York federal judge on Tuesday chucked a proposed class action against online home goods retailer Wayfair that accused the private equity-backed company of failing to disclose in its $319 million initial public offering that was a competitor, saying it had no duty to reveal that fact.

  • May 24, 2016

    Indebted IHeartMedia Wins Spat With Lenders

    A Texas state judge ruled Tuesday that iHeartMedia Inc.’s decision late last year to transfer shares between two of its subsidiaries didn’t constitute an event of default under multibillion-dollar credit agreements, handing the heavily indebted media company a win in a dispute with its senior lenders.

  • May 24, 2016

    Deals Rumor Mill: Vogue International, Goldman, PSA Peugeot

    Unilever and L'Oreal are among those vying to buy private equity-backed shampoo maker Vogue International, Goldman Sachs' asset management arm will begin buying minority stakes in private equity firms, and France's government is mulling the sale of its stake in carmaker PSA Peugeot Citroen.

  • May 24, 2016

    AIG Gets Into Equity Crowdfunding Biz With Fraud Coverage

    American International Group Inc. unveiled an insurance product Tuesday designed to protect equity crowdfunding investors from issuer fraud, one week after U.S. rules governing equity crowdfunding went live and enabled people of ordinary means to invest in private startups for the first time.

  • May 24, 2016

    OrbiMed Nets $307M For Israel Health Care Fund

    Health care investment firm OrbiMed Advisors LLC said Monday that it has closed a new fund focused on biopharmaceutical, digital health, medical device and diagnostics companies in Israel with $307 million.

  • May 24, 2016

    Energizer Buys Car Air Freshener Maker In $340M Deal

    Energizer Holdings Inc. detailed plans Tuesday to buy car air freshener maker HandStands in a $340 million deal the battery maker says will combine two highly complementary operations.

  • May 24, 2016

    French Appliance Maker Buys KKR-Backed WMF For $1.77B

    French small appliance maker Groupe SEB said Monday that it will enhance its offerings and jump into the professional coffee machine space with the €1.59 billion ($1.77 billion) purchase, including debt, of WMF Group GmbH from private equity giant KKR & Co. LP.

  • May 24, 2016

    Old Mutual Stake In US Fund Manager Entices Suitors

    Old Mutual PLC confirmed media speculation Tuesday that the South African financial services company's stake in U.S. fund manager OM Asset Management PLC has drawn interest from potential suitors, after unveiling a separation plan earlier this year.

  • May 24, 2016

    Latham Guides Behrman Capital's $1B Sale Of Data Device

    Behrman Capital will part ways with Data Device in a $1 billion sale led by Latham & Watkins, a deal that comes 13 years after the private equity firm invested in the aerospace and defense company’s parent, according to a Monday statement.

  • May 23, 2016

    American Capital Nets $97M On Treatment Center Sale

    American Capital has sold addiction and mental health treatment facility The Meadows of Wickenburg LP to a Kohlberg & Company LLC portfolio company in a deal that netted the Maryland-based private equity firm $97 million in proceeds, it said Friday.

Expert Analysis

  • Protecting Your PE Firm From Portfolio Co. Obligations

    Glenn D. West

    It's important to review the basic means and manner through which liabilities otherwise created by portfolio companies and acquisition vehicles can be asserted against a private equity firm or its deal professionals. Knowing why the provisions mitigating these risks were originally developed will hopefully encourage continued vigilance, says Glenn West of Weil Gotshal & Manges LLP.

  • Panama Papers: Reminders About Law Firm Cybersecurity

    Sean Doherty

    Nowhere is the attractiveness of law firms as cybercrime targets more evident than the recent Mossack Fonseca hack, believed to be the most significant data theft event in history. Firms represent a treasure trove of information and historically have had dreadful cybersecurity practices. There has been some progress, but firms can also commit to better defending their information by taking a simple, three-step approach, says Sean D... (continued)

  • Takeaways From Ceresney Speech On Private Equity

    Joshua M. Newville

    U.S. Securities and Exchange Commission Enforcement Director Andrew Ceresney recently highlighted the three primary categories of actions against private equity fund advisers, and specified certain arguments that the enforcement staff has rejected during the course of investigations. There is no question that the SEC’s enforcement resources will continue to target the industry, say attorneys with Proskauer Rose LLP.

  • OPINION: Sotomayor's Solution To Pro Bono Is Incomplete

    David A. Lash

    In calling for mandatory pro bono service, U.S. Supreme Court Justice Sonia Sotomayor is effectively using her bully pulpit to advance the cause of access to justice for the poor. Her courageous leadership is a clarion call to action that must be heeded. But bold as it may be, the pronouncement is incomplete, says David Lash, managing counsel for pro bono at O’Melveny & Myers LLP and a member of the Association of Pro Bono Counsel.

  • Creating Barclay Damon: Lessons From A Law Firm Merger

    John P. Langan

    Joining two firms with long histories meant not only combining cultures, philosophies and deeply rooted ways of doing business, but also combining two IT systems, two accounting systems, and two ways of handling many other administrative functions. It didn't help that the firms had different fiscal year ends, says John Langan, managing partner of Barclay Damon LLP.

  • Key Data Privacy And Security Concerns For Investment Firms

    Deborah Gersh

    While the security of personal and financial information has garnered most of the attention over the last 10 years, investment firms should also focus their attention on the protection of nonpublic information of potential transactions. In addition, firms that invest in the health care industry must also be aware of their obligations relating to the protection of health care data, say attorneys with Ropes & Gray LLP.

  • Reflecting On The 20th Anniversary Of BMW V. Gore

    Andrew Frey

    On May 20, 1996, the U.S. Supreme Court held that a $2 million punitive damages award imposed for a tort that caused $4,000 in economic harm was unconstitutionally excessive. In the ensuing 20 years, BMW v. Gore has proved to be a foundational case in punitive damages jurisprudence. We were fortunate enough to have played a role in this historic decision, say Mayer Brown LLP partners Andrew Frey and Evan Tager and Maserati North Am... (continued)

  • Corporate Counsel: Consumer Becomes Provider (The Sequel)

    Mark A. Cohen

    Last week, we discussed why corporate legal departments are taking on so much more work themselves instead of outsourcing it to law firms. This is, of course, an ominous sign for law firms and the traditional partnership structure. So too is disaggregation and the emergence of legal service providers as well as others — notably the Big Four — poised to enter the gargantuan legal services market, says Mark A. Cohen of Legal Mosaic LLC.

  • From The Book Of Jargon: Red Herring

    Going on a road show? Don’t forget the red. Latham & Watkins LLP partner Leakhena Mom explains the term "red herring" in this short video from the firm's Book of Jargon.

  • Hidden Conflicts Lurking In Later-Round Cap Charts

    Neal H. Strum

    Depending on the relative investment dollars contributed in earlier rounds, A and B investors who have also invested in a C round may be motivated to make C round decisions for the benefit of their A and B round positions. A new investor in a later round must therefore understand the actual C round investor mix, says Neal Strum of Venable LLP.