Private Equity

  • December 9, 2016

    Taxation With Representation: Davis, Wilson, Freshfields

    In this week’s Taxation With Representation, Verizon sold off $3.6 billion worth of properties around the country, web services provider GoDaddy agreed to buy its European counterpart for $1.81 billion, and Consolidated Communications Holdings made a successful $1.5 billion play for a fellow business and broadband communications provider.

  • December 9, 2016

    5 Firms To Lead IPOs Totaling Nearly $1B As Year Winds Down

    Five firms are set to steer three initial public offerings totaling nearly $1 billion, including an upstream energy company and a global hotel booking platform, representing what deal makers say could be the last batch of IPOs for 2016.

  • December 9, 2016

    Deals Rumor Mill: PPD, CCP, Time

    Private equity-backed Pharmaceutical Products Development could sell in a deal valuing the drug research firm at about $5 billion, an Icelandic game developer may be bought for up to €900 million ($955 million), and Time has hired advisers as it weighs a sale amid struggles for the print industry at large.

  • December 9, 2016

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Jones Day and Hogan Lovells. Here, Law360 recaps the ones you might have missed.

  • December 9, 2016

    Chancery OKs $17.5M Deal To End Sterling Chemical Sale Row

    A Delaware Chancery judge gave the green light Friday to a $17.5 million deal resolving the challenge to Eastman Chemical Co.’s $100 million purchase of Sterling Chemicals Inc., a settlement that included more than $3 million in attorneys’ fees and a special award to class representative Virtus Capital LP.

  • December 9, 2016

    Real Estate Rumors: Thor Equities, JBL, Ares Management

    Thor Equities is said to have bought a California medical office building leased to Kaiser Permanente for $67 million, JBL Asset Manager has reportedly bought a Florida site that includes retail and a car rental site for $23 million, and Ares Management is said to have sold a New York rental portfolio for $133 million.

  • December 9, 2016

    PE-Backed Boat Maker MCBC Primes $17M Secondary Sale

    The parent company of MasterCraft Boat Co., which designs and manufactures sports boats for water skiing and wakeboarding, among other sports, priced an upsized secondary offering on Thursday, raising $17.4 million for its private equity backer. 

  • December 9, 2016

    PE-Backed Athene Holding Prices Upsized $1.1B IPO

    Athene Holding Ltd., a retirement services company backed by private equity and pension funds, priced its initial public offering near the top end of its range after the market closed on Thursday, upped the number of shares it sold and raised about $1.1 billion for its ownership.

  • December 9, 2016

    Private Equity MVP: Latham & Watkins' David I. Brown

    Latham & Watkins LLP attorney David I. Brown spent the past year guiding a plethora of private equity transactions, together worth nearly $6 billion, for clients including the Carlyle Group and Platinum Equity, landing him on Law360’s list of 2016 Private Equity MVPs.

  • December 8, 2016

    Deals Rumor Mill: Aon, Spotify, AirAsia

    Insurance broker Aon hopes to net more than $5 billion in a sale of Hewitt Associates, Spotify has abandoned efforts to acquire SoundCloud because of concerns over how a deal could complicate its planned initial public offering, and AirAsia has received plenty of interest for its roughly $1 billion aircraft leasing business.

  • December 8, 2016

    Chinese Investment Fund Backs Out Of $712M Aixtron Buy

    China's Fujian Grand Chip Investment Fund LP on Thursday said it has dropped its proposed €670 million ($712 million) takeover of German chip equipment maker Aixtron SE after President Barack Obama issued an executive order that blocked the deal based on national security concerns.

  • December 8, 2016

    KKR To Take Stake In Research Firm GfK

    Kohlberg Kravis Roberts said Thursday that it is planning to launch a voluntary tender offer for shares in market research company GfK SE, in a deal that would see the private equity outfit shell out at least €294.5 million ($312.6 million) at a price of €43.50 per share.

  • December 8, 2016

    KKR Brings In $711M For Growth Equity TMT Fund

    Private equity giant KKR & Co. LP has brought in $711 million from investors for a fund that will make growth equity investments in technology, media and telecommunications companies based in North America, Europe and Israel, the firm said on Thursday.

  • December 8, 2016

    TC Latin America Partners Snags $268M For RE Project Fund

    TC Latin America Partners has closed its second real estate-focused fund after raising $268 million from investors, the private investment firm said Thursday, with plans to invest in the development of residential, commercial and industrial real estate projects in Latin America.

  • December 8, 2016

    Real Estate Rumors: BlackRock, Acore Capital, AutoNation

    BlackRock is said to have reached a deal to lease 850,000 square feet at 50 Hudson Yards in New York, Acore Capital has reportedly loaned $57.5 million for a Queens development site purchase, and AutoNation is said to have sold a Fort Lauderdale, Florida, Chevrolet dealership for $29.5 million.

  • December 8, 2016

    Gurnet Point Capital Plugs $92M Into Crossover Health

    Gurnet Point Capital, a private investment firm focused on the health care and life sciences sectors, has agreed to invest $92 million in employee health care provider Crossover health, the companies said Wednesday.

  • December 7, 2016

    Ch.11 Structured Dismissals Come Under Fire At High Court

    The use of so-called structured dismissals to end Chapter 11 cases came under U.S. Supreme Court scrutiny Wednesday, as a group of truck drivers left out of a settlement benefiting more-junior creditors argued that a bankruptcy court impermissibly distributed bankruptcy estate assets in violation of creditor priority.

  • December 7, 2016

    PostNL Rejects Sweetened $2.7B Bpost Offer

    Dutch postal operator PostNL said Wednesday it has rejected a €2.5 billion ($2.7 billion) cash-and-stock offer from Belgian Post Group, or Bpost, saying the deal would have handed 40 percent of the combined company to the Belgian government, raising political and regulatory concerns.

  • December 7, 2016

    FIS Sells SunGard Units To Vista Equity In $850M Deal

    Fidelity National Information Services Inc. said Wednesday it has agreed to sell its SunGard Public Sector and Education businesses to private equity shop Vista Equity Partners for $850 million.

  • December 7, 2016

    Alpha Venture Partners Launches $100M Fund

    Alpha Venture Partners said Tuesday that it will look to raise $100 million for a new fund focused on providing capital to early stage venture capital investors to help them participate in the later funding rounds of their portfolio companies.

Expert Analysis

  • The Horrible Conflict Between Biology And Women Attorneys

    Anusia Gillespie

    Women leave law firms for many of the same reasons men do, but also face challenges including headwinds with respect to assignment delegation and social outings, as well as potential disruptions if they choose to have children. Firms can increase investment in talent management and improve retention and engagement of women attorneys, says Anusia Gillespie of Banava Consulting.

  • Lawyer EQ: Finding Success In Every Interaction

    Judith Gordon

    American legal education relies almost exclusively on analytical thinking. But success in legal practice depends in large part upon an accurate emotional understanding of oneself and the human seated opposite us. Honing emotional intelligence skills can lead to greater success, and Judith Gordon of LeaderEsQ offers a few tools that can be implemented immediately to raise one’s emotional intelligence quotient.

  • Managing Intergenerational Differences Within Your Law Firm

    Najmeh Mahmoudjafari

    We are privileged to be part of an employment market that hosts employees from various generations. While “differences” may imply inherent conflict, intergenerational differences can actually be used to an advantage for organizations — especially law firms, say Najmeh Mahmoudjafari, founder of ImmigraTrust Law, and William Martucci of Shook Hardy & Bacon LLP.

  • 12 Things To Know About The SEC Whistleblower Program

    Jon Eisenberg

    Earlier this year, the U.S. Securities and Exchange Commission’s first chief of the whistleblower program jumped ship to a law firm that specializes in bringing whistleblower claims. The message was clear — SEC whistleblowing is a growing and lucrative area, say Jon Eisenberg and Vince Martinez of K&L Gates LLP.

  • 7 Private Equity Strategies For 2017

    Jeremy Swan

    As the country prepares for new leadership in Washington, private equity firms should look to embrace new, growth-focused strategies that will help them compete more effectively in what will undoubtedly be a year of significant change, says Jeremy Swan of CohnReznick LLP.

  • Withholding Changes For Dividend Equivalent Amounts

    Philip Gross.jpg

    Last year, the IRS issued final and temporary regulations pertaining to Section 871(m) of the U.S. Internal Revenue Code, which imposes a 30 percent U.S. withholding tax on dividend equivalent amounts paid or deemed paid on certain swaps and equity linked instruments. Funds should carefully consider the implications, say attorneys from Kleinberg Kaplan Wolff & Cohen PC.

  • Philip Hirschkop: Quietly Making Noise For 50 Years

    Randy Maniloff

    The first paragraph of Philip Hirschkop’s obituary is going to contain the word "Loving." That’s undeniable. But many of Hirschkop’s other cases are just as groundbreaking in their own right. They aren’t household names like Loving, but they have affected millions in the nation’s households, says Randy Maniloff of White and Williams LLP.

  • A Look Beyond 'Rep And Warranty' Insurance

    Mitchell L. Griffith

    "Rep and warranty" insurance has grown into a mainstream risk allocation tool in just a few short years, but it is only one of several transactional insurance products increasing in popularity. Mitchell Griffith of Thompson & Knight LLP and John McNally and Adam Wilhite of JLT Specialty USA explain fraudulent conveyance and successor liability insurance.

  • Key 2016 Appraisal Decisions That Rejected Merger Price

    Ronald N. Brown III

    Three important cases in 2016 demonstrate that the Delaware Chancery Court will utilize other financial analyses to determine fair value where the merger price is not a reliable indicator, say Ronald Brown III and Keenan Lynch of Skadden Arps Slate Meagher & Flom LLP.

  • SEC Oversight Of Asset Managers: A Decade In The Making

    Julie M. Riewe

    Why have asset managers — and private fund managers in particular — recently come under intense scrutiny? A review of the record suggests that today’s heightened scrutiny dates back to 2004, says Julie Riewe, partner at Debevoise & Plimpton LLP and former co-chief of the U.S. Securities and Exchange Commission's Asset Management Unit.