Private Equity

  • August 29, 2014

    Carlyle Group To Pay $115M To Settle PE Collusion Row

    Carlyle Group LP has agreed to pay about $115 million to settle a long-running proposed class action brought against it and several other private equity firms for allegedly teaming up to depress prices in leveraged buyouts leading up to the financial crisis, according to media reports on Friday.

  • August 29, 2014

    IPO Filings Soar In Late-August Heat

    Initial public offering activity was back in action this week with 13 companies packing into the pipeline, including a slew of biotech firms, a Blackstone Group LP-backed solar energy firm and a real estate investment trust that may make the largest debut of its kind.

  • August 29, 2014

    US, Myanmar Broker $480M PE-Backed Solar Project

    New York-based private equity firm ACO Investment Group will partner with Myanmar to develop an approximately $480 million solar energy project in the Southeast Asian nation, U.S. Trade Representative Michael Froman announced Thursday as part of the U.S.’ ongoing efforts to attract investment and trade with Myanmar.

  • August 29, 2014

    Taxation With Representation: Gibson Dunn, Cravath, Wachtell

    In this week's Taxation With Representation, Wachtell helps Tim Hortons combine with Burger King into a fast-food juggernaut, while Cravath guides California biotech company InterMune on its $8.4 billion sale to Roche.

  • August 29, 2014

    Thayer Pays $460M For Westin Diplomat Resort In South Fla.

    The Westin Diplomat Resort & Spa in the Fort Lauderdale area has been snatched up for $460 million by hotel-focused private equity investor Thayer Lodging Group Inc., according to Broward County, Florida, property records filed Thursday.

  • August 29, 2014

    Pulling Up Stakes: Ropes & Gray, King & Spalding, Tandem

    In this week's dealmakers on the move, Ropes & Gray LLP picked up a U.K. private equity pro from Travers Smith LLP in London, while King & Spalding LLP added a corporate partner from Freshfields Bruckhaus Deringer LLP in New York, and Washington, D.C., boutique law firm Tandem Legal Group nabbed two tax and M&A pros from Skadden Arps Slate Meagher & Flom LLP.

  • August 29, 2014

    Jones Day Reps Riverside Co. In Craft Beer Market Win

    Private equity firm Riverside Company said Friday it would acquire small-scale brewery Uinta Brewing Co., making for a rare win in the bustling craft beverage marketplace that has largely kept deal makers on ice.

  • August 29, 2014

    $2.8B Duke Sale Promises More Merchant Power Exits

    Duke Energy Corp.’s recently-announced $2.8 billion sale of its Midwest merchant generation and retail businesses to Dynegy Inc. is the latest deal to signal a retreat by traditional utilities from the unregulated space, which experts say will spur consolidation in the merchant power sector and create more opportunities for private equity firms and other nontraditional power players.

  • August 29, 2014

    PE Fund Slams Removal Bid By Limited Partners In Fee Row

    Real estate secondary investing private equity fund Liquid Realty Partners has sued a group of its limited partners, saying that efforts by investors to remove it from its role as general partner to a set of funds is nothing more than an unjust effort to avoid paying $26.5 million in service fees.

  • August 29, 2014

    The Three M&A Firms That Dominated This Summer

    A busy summer in the M&A marketplace left a wide opening for law firms to cash in on the deal-making frenzy, but a trio of well-established shops stood out among the competition by roping in some of the season's highest-profile transactions.

  • August 29, 2014

    Kirkland Reps 3i In $202.5M Purchase Of Engineering Co.

    3i Group PLC said Friday that it will acquire protective equipment engineering company A&A Manufacturing in a $202.5 million deal just a month after the British private equity firm said it would be sticking to exits, calling the the middle market “fully priced.”

  • August 29, 2014

    Affinity Drops $314M On Virgin Australia Stake

    Asian private equity firm Affinity Equity Partners has paid AU$336 million ($313.7 million) for a minority stake in Virgin Australia Holdings Ltd.'s frequent-flier program as the airline, Australia's second-largest, looks to broaden its footprint in the country's tight air-travel market, the airline announced Friday.

  • August 29, 2014

    Dealmakers Q&A: Davis Wright's Sean McCann

    The most impressive transactional professionals I’ve practiced with have a deep understanding of what matters to the parties on the other side of the table, well beyond what may be communicated in a term sheet or markup, says Sean McCann of Davis Wright Tremaine LLP.

  • August 28, 2014

    More Deals Expected This Fall As Economy Pushes M&A Surge

    The surge in mergers and acquisitions activity over the first half of the year is expected to continue into the fall, with more deals expected in the health care and telecommunications sectors, M&A attorneys say.

  • August 28, 2014

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

    With so much M&A news this week, you may not have seen some announced deals involving law firms like Ropes & Gray and others. Here, Law360 takes a look at the ones you may have missed.

  • August 28, 2014

    Chinese Bad-Debt Manager Locks Down $2.4B Before IPO

    A group of eight investors, including Goldman Sachs and Warburg Pincus, will pour 14.5 billion Chinese yuan ($2.36 billion) into China Huarong Asset Management Co. Ltd., as China’s largest bad debt manager prepares for a potential initial public offering, according to a statement Thursday.

  • August 28, 2014

    Momentive Noteholders Press For Cash-Out After Trial Loss

    Noteholders that lost a closely watched battle for some $200 million in make-whole payments from bankrupt Momentive Performance Materials Inc. formally requested their votes be switched to support its Chapter 11 exit plan, a maneuver aimed at scoring cash recoveries instead of refinanced debt.

  • August 28, 2014

    LightSquared Nails Down $121M In DIP Financing

    LightSquared Inc. won approval Thursday from a New York bankruptcy court for $120.6 million in post-petition financing, the latest step in the wireless networking company's drawn-out attempt to reorganize its finances.

  • August 28, 2014

    RE Rumor Mill: Blackstone, Port Investigation, Mobil Building

    Blackstone Group LP is reportedly in talks to sell a 42-story office tower in Manhattan for up to $2.25 billion, the Manhattan District Attorney's Office is looking into a secret $25 million settlement between the Port Authority of New York and New Jersey and a seaport company, and real estate investors have closed on $700 million in financing for their long-term lease position at the Mobil Building.

  • August 28, 2014

    Hedge Funds Can't Escape Octaviar Suit Over Conveyance

    A New York federal judge on Wednesday refused to dismiss a complaint brought by liquidators of Australia-based Octaviar Administration Pty Ltd. against Fortress Investment Group LLC and affiliates over an allegedly fraudulent conveyance, finding defendants’ willingness to move the case to Australia a contradiction of an earlier position.

Expert Analysis

  • 5 Reasons Large Companies Are Turning To Boutique Firms

    David M. Levine

    The departure of attorneys from large firms is a trend that has increased as a result of the Great Recession and its aftermath, and boutique firm partners who previously worked at large firms understand the potential large-firm pitfalls, say attorneys with Levine Kellogg Lehman Schneider & Grossman LLP.

  • How To Protect In-House Legal Privilege Internationally

    Martje Verhoeven-de Vries Lentsch

    Many companies regularly communicate with in-house legal advisers all over the globe. Are these communications privileged? By answering five questions, companies and attorneys can perform a high-level, initial assessment of legal privilege protection in a multijurisdictional context, says Martje Verhoeven-de Vries Lentsch of De Brauw Blackstone Westbroek and Haynes and Boone LLP.

  • Perils Of Communicating With Customers By Phone Or Text

    Given the large number of calls that can be made electronically, damages for Telephone Consumer Protection Act violations can run into the millions. In this short video, Sutherland partner Lewis Wiener discusses the TCPA and how businesses that communicate with customers by phone or text may be impacted.

  • Governmental Plan Investors Can Help Credit Facilities

    John A. Janicik

    One way to potentially expand the borrowing capacity under a subscription credit facility is for a lender to advance against more of the governmental investors in a private equity fund and, in particular, governmental investors that are public retirement systems, say attorneys with Mayer Brown LLP.

  • From The Book Of Jargon: Accelerated Share Repurchase

    In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Rafal Gawlowski defines "accelerated share repurchase."

  • Corp. Governance Politics: Much Ado About Symbolic Change

    Edward B. Rock

    The rhetoric used by shareholder activists on all sides should be taken with a large pinch of salt — most issues described as momentous generally are not — and these symbolic battles may divert attention from more meaningful reform, say professors at the New York University School of Law and the University of Pennsylvania Law School.

  • How To Control Risk And Cost Of E-Discovery

    "If you follow the philosophy of saving everything you're just multiplying exponentially the costs and risks of litigation and investigations," says Robert Owen, partner in charge of Sutherland Asbill & Brennan LLP's New York office and president of the Electronic Discovery Institute.

  • From Landlord To Locked Up: The Long Arm Of The SCRA

    Kirk D. Jensen

    While financial institutions — including private equity firms — rarely think of themselves as landlords, they may be subject to a narrow window of exposure under the eviction provisions of the Servicemembers Civil Relief Act, violations of which can lead to severe penalties, including incarceration, say attorneys with BuckleySandler LLP.

  • A Review Of The Subscription Credit Facility Market

    Michael C. Mascia

    Despite the nearly uniform positive trending in the data supporting facility credit performance, none of it goes to the heart of the fundamental credit underwriting premise of a facility. And from this vantage point, the 2014 year-to-date trending has been far less beneficial for lenders, say attorneys with Mayer Brown LLP.

  • From The Book Of Jargon: 10b5-1 Plan

    In this short video — the latest from the "Book of Jargon" — Latham & Watkins LLP partner Stephen Wink defines U.S. Securities and Exchange Commission Rule 10b5-1.