Private Equity

  • October 17, 2014

    Animal Health Co. Prices Brazil's First IPO Of 2014

    Brazilian veterinary products company Ouro Fino Saude Animal Participacoes SA priced Brazil's first initial public offering of the year on Friday, according to a filing with the country's securities regulator, taking advantage of a growing market for animal health products despite recent stock-market weakness.

  • October 17, 2014

    Jones Day Reps PE-Backed H-D Advanced In Add-On Deal

    Private equity-backed H-D Advanced Manufacturing Co. said Friday it agreed to buy Crown Precision Machining, a maker of precision-machined parts for the commercial aerospace and defense industries, in a deal guided by Jones Day, marking its fifth add-on deal in less than two years.

  • October 17, 2014

    All Eyes On Africa As Next PE Hotspot

    As China's growth slows, Europe continues to stagnate and U.S. deals remain pricey, private equity investors eager to find an alternative are eyeing an unexpected locale: Africa.

  • October 17, 2014

    Deals Rumor Mill: Tiger Airways, Fresenius, EnCap

    Tiger Airways Holdings Ltd. is selling its stake in low-cost airline Tiger Australia for less than the price of a vending machine candy bar, while the French government plans to offer investors the chance to buy stakes in public utility networks in an attempt to raise up to $12.66 billion.

  • October 17, 2014

    Fiber Telecom Zayo Group Misses Mark With $400M IPO

    Shares in private equity-backed Zayo Group Holdings Inc. climbed on Friday in its first day of trading on the New York Stock Exchange, an optimistic note after the fiber optic telecommunications company fell short of the $400 million it was originally expected to raise.

  • October 17, 2014

    Cerberus, Orion Team Up On $287M Deal For Spanish Resort

    Cerberus Capital Management LP and European real estate investment firm Orion Capital Managers LLP will pay €225 million ($287 million) for the developer behind a prestigious Spanish resort, according to an announcement Friday by the seller, major European hotel chain NH Hotel Group.

  • October 17, 2014

    Old Mutual Forks Over $941M For UK Investment Manager

    International insurance giant Old Mutual PLC is set to acquire private equity-backed investment manager Quilter Cheviot for up to £585 million ($941.2 million), the companies said Friday, moving Old Mutual one step closer to its goal of becoming a leading wealth management player in the U.K.

  • October 17, 2014

    Einhorn Hedge Fund Greenlight Capital Raising Extra Cash

    As the stock market slides, David Einhorn sees opportunity. The billionaire hedge fund manager is looking to raise cash for his Greenlight Capital Inc. for the first time in more than two years as he sees the chance for new investments amid the recent market tumult.

  • October 17, 2014

    Venture Capital Steamrolling '13 With $33B Invested So Far

    Venture capital investing is on a tear this year, with more than $33 billion invested through the first three quarters, according to a new report Friday by accounting firm PwC and the National Venture Capital Association, blowing past last year’s total of $30 billion in just the first nine months of the year.

  • October 16, 2014

    Tibco Investors Lose $100M Over Spreadsheet Goof

    Tibco Software Inc. shareholders will be paid roughly $100 million less than anticipated in private equity firm Vista Equity Partners' planned $4.3 billion purchase of the business software company, due to an error on a spreadsheet, according to a Thursday regulatory filing.

  • October 16, 2014

    Blackstone's 7th Fund On The Way Despite Volatile Markets

    The Blackstone Group LP will soon start raising capital for its seventh global buyout fund, the firm said during its third-quarter earnings call on Thursday as it reported a strong performance buoyed by multiple sales of companies from its private equity and real estate funds.

  • October 16, 2014

    Chuck E. Cheese's Gobbles Up Competitor Peter Piper Pizza

    CEC Entertainment Inc., owner of the mouse-mascoted Chuck E. Cheese's pizza chain, has gotten its paws on a competitor, acquiring regional pizza restaurant chain Peter Piper Pizza, from affiliates of ACON Investments LLC, the companies announced Thursday.

  • October 16, 2014

    Clock Ticks On Momentive To Pull Off Thorny Ch. 11

    The stakeholders that crafted Momentive Performance Materials Inc.’s Chapter 11 plan are facing a Friday deadline to iron out differences between their respective constituencies that have prevented the hotly contested debt restructuring from going effective.

  • October 16, 2014

    California Burger Chain Hopes To Beef Up With Public Debut

    Private equity-backed Habit Restaurants Inc. on Thursday kicked off plans for an initial public offering, making the California-based fast-casual burger restaurant the latest food chain to test investors’ appetite as it looks to expand operations.

  • October 16, 2014

    Bain Takes 80% Stake In Chinese Financial Co. Lionbridge

    Bain Capital has acquired an 80 percent stake in Lionbridge Financial Leasing (China) Co. Ltd., marking the Boston-based private equity giant's first foray into China's growing financial services sector, according to a joint announcement Thursday.

  • October 16, 2014

    Co-Investment Craze Drives Private Equity Evolution: Report

    Private equity funds are trying to cash in on large limited partnerships' rising interest in co-investment by offering such partners lower fees and carry-fee percentages, according to a new study by Fitch Ratings released Wednesday.

  • October 16, 2014

    Deals Rumor Mill: PolyOne, Allergan, Wizz Air Holdings

    PolyOne Corp. has placed a bid for Kloeckner Pentaplast GmbH that could be worth as much as €1.5 billion ($2 billion), while Bill Ackman accused Allergan Inc.'s board of misleading investors to convince them not to consider a $53 billion hostile takeover bid from Valeant Pharmaceuticals International Inc.

  • October 15, 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 several law firms like Morrison & Foerster and others. Here, Law360 takes a look at the ones you might have missed.

  • October 15, 2014

    Deals Rumor Mill: ConvaTec, Vodafone, French Gov't

    ConvaTec Inc.'s private equity owners have pegged Morgan Stanley and Goldman Sachs Group Inc. to help look into a sale that could net up to $10 billion, while Vodafone Group PLC will no longer pursue Swisscom AG's Fastweb SpA, which could be worth as much as $6.33 billion.

  • October 16, 2014

    CORRECTED: American Realty Strikes $162M Deal For NYC Office

    American Realty Capital has struck a deal to pick up a prized Times Square-area Manhattan office tower from The Carlyle Group and Capstone Equities for $162 million, a source told Law360 on Wednesday. (Correction: An earlier version of the story misidentified American Realty Capital. The error has been corrected.)

Expert Analysis

  • What Litigators Can Learn From Novelists

    Michael H. Rubin

    Many legal briefs are written in impenetrable jargon and begin with an introduction telling the court what it already knows, using words that stem from the 18th century, such as “hereinafter.” Instead, we should approach briefs the way novelists approach their writing, says Michael Rubin of McGlinchey Stafford PLLC.

  • Start To Think About Entering China's Health Care Market

    Tim Stratford

    After the news this past July that German hospital operator Artemed had signed a framework agreement to establish the first wholly foreign-owned hospital in the Shanghai Pilot Free Trade Zone, foreign investors anxious for an opening into China’s tightly regulated health care sector may have further reason for optimism, say attorneys with Covington & Burling LLP.

  • Encouraging Gas Development In China — A Work In Progress

    Vincent X. Wang

    Recent Chinese regulatory measures are but a first step in establishing a regime that will encourage foreign investment in midstream gas infrastructure by private investors. More attention needs to be paid to establishing a platform that offers fair rules of play for private businesses seeking to compete with powerful state-owned monopoly players, say Barbara Jost and Vincent Wang of Davis Wright Tremaine LLP.

  • Planning For Disputes In Cross-Border PE Deals

    Timothy J. Lindsay

    International arbitration can offer important advantages in cross-border private equity transactions, with the precise wording of the so-called “midnight” dispute resolution clauses in commercial agreements being the keystone to contractual certainty and, ultimately, enforcement of the bargain struck, says Timothy Lindsay of Dechert LLP.

  • Del. Clarifies Approach To Derivative Suits In Insolvency

    Brad Eric Scheler

    Before the Delaware Supreme Court’s landmark Gheewalla ruling, application of the business judgment rule to actions by directors of insolvent companies had been controversial, given the concern that directors might be inclined to engage in high-risk strategies while creditors bear the risk of failure. A recent Chancery Court decision highlights this concern, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Proposed Margin Rules For Uncleared Swaps Will Be Costly

    Richard B. Holbrook

    The proposed regulations implementing certain provisions of the Dodd-Frank Act relating to margin requirements for uncleared swaps, if adopted as proposed, will increase the costs of trading uncleared swaps and decrease the universe of potential counterparties, say attorneys with Crowell & Moring LLP.

  • Information Governance: A Missed Opportunity For Lawyers

    Ann Snyder

    Today, information intersects every practice area, making all lawyers effectively information governance practitioners in one way or another. The issue is whether you will consciously embrace this emerging discipline — and capitalize on it to the benefit of your clients and your practice, says Ann Snyder of the Information Governance Initiative.

  • Foreign Direct Investment Vs. National Security Risk

    Philip Thompson

    The number of voluntary notices filed with the Committee on Foreign Investment in the U.S. continues to increase significantly. The benefits of seeking voluntarily CFIUS approval for covered cross-border transactions far outweigh the risks, and recent cases have underscored the merits of advance strategic planning, say Philip Thompson and Robert Crowe of Nelson Mullins & Scarborough LLP.

  • Investor Interest In Health IT Firms Continues

    Geoffrey C. Cockrell

    Traditional venture capital technology investors are finding firms that gather and analyze health care data appealing because of the growth of electronic records and consumer use of health tracking technology. In addition, early-stage investors often view investing in these companies as presenting less risk than investing in biotech firms, say Geoffrey Cockrell and Amber Walsh of McGuireWoods LLP.

  • Ex-Duane Reade CEO Case A Model For VWPA Restitution

    Lewis J. Liman

    The loss of a top officer to a criminal investigation is not unheard of, particularly in a change-of-control transaction. The Second Circuit’s ruling in a case involving a former Duane Reade Inc. CEO's securities fraud conviction establishes rules for companies to recover costs of investigation as restitution under the Victim and Witness Protection Act, say Lewis Liman and Breon Peace of Cleary Gottlieb Steen & Hamilton LLP.