Private Equity

  • October 13, 2015

    Real Estate Rumors: Signature Bank, Viking Partners, A&E

    Signature Bank has reportedly loaned $130 million to Isaac Chetrit and Ray Yadidi for a pair of New York properties, a fund managed by private equity firm Viking Partners is said to have purchased a Chicago-area shopping center for $21 million, and A&E Real Estate has reportedly dropped $22 million on a New York residential property.

  • October 13, 2015

    Calif. Pension Funds Pushed To Disclose Private Equity Fees

    California’s state treasurer on Monday pushed for state legislation forcing private equity firms to disclose and detail the fees charged to all California public pension funds, including the California Public Employees' Retirement System and the California State Teachers' Retirement System.

  • October 13, 2015

    Mayer Brown Guides Waterton-Park Madison $511M Fund

    Mayer Brown LLP represented a real estate-focused fund of Waterton Associates LLC and New York private equity shop Park Madison Partners in connection with the fund's $511 million equity raise, according to an announcement on Tuesday from Waterton and Park Madison.

  • October 13, 2015

    Worldpay Raises $3.3B In London Stock Exchange IPO

    U.K. payment processing company Worldpay Group PLC priced its initial public offering on the London Stock Exchange on Monday, raising £2.16 billion ($3.3 billion), after private equity owners Advent International and Bain Capital spent months flirting with buyout offers.

  • October 13, 2015

    Subsidiary Of China's Raises $300M In Funding Round

    A subsidiary of Tencent Holdings Ltd.-backed Chinese online marketplace Inc. has raised $300 million in a Series A equity funding round that saw participation from Alibaba Group Holding Ltd., investment firm KKR and Ping An Group, said on Monday.

  • October 13, 2015

    Hellman & Friedman Inks Deal For Edelman Financial

    Private equity firm Hellman & Friedman has agreed to buy a majority stake in financial planner Edelman Financial Services, Edelman said on Monday, in a deal steered by Simpson Thacher & Bartlett LLP and Willkie Farr & Gallagher LLP.

  • October 9, 2015

    Six Firms Set To Guide IPOs Totaling $5B

    Six firms are set to get in on initial public offering action the week of Oct. 12, guiding a mixed lineup of offerings amid a wobbly IPO market highlighted by the public return of two giant companies that went private after massive leveraged buyouts in the mid-2000s.

  • October 9, 2015

    Lane Bryant Owner Ascena Signs $2.2M PE Stake Deal

    Private equity outfit Golden Gate Capital on Thursday disclosed that it had acquired a 9 percent stake in Ascena Retail Group Inc., which owns women’s clothing brands Lane Bryant and Ann Taylor, for $2.24 million, saying that it believes the stock is significantly undervalued.

  • October 9, 2015

    Roche Pays $580M For Biotech Developing Arthritis Treatment

    Swiss biotech giant Roche Holding will buy a venture capital-backed company based in California that is developing a treatment for rheumatoid arthritis and other autoimmune and inflammatory diseases in a deal worth up to $580 million.

  • October 9, 2015

    Apax Pays $129M For Electra PE's Stake In Indian IT Co.

    Electra Private Equity PLC said Friday that it has sold its 23 percent stake in Indian information technology services provider Zensar Technologies Ltd. to Apax Partners for about £84 million ($128.6 million), reaping a whopping 19 times the initial investment made by the British private equity firm.

  • October 9, 2015

    Deals Rumor Mill: Intel, Dell, Formula One

    Intel Corp.'s $17.6 billion acquisition of Altera Corp. will gain European Commission approval, Dell Inc. will offer to buy EMC Corp. for about $33 per share and the Miami Dolphins owner and Qatar’s sovereign wealth fund are teaming up to bid on a controlling stake in Formula One.

  • October 9, 2015

    Katten Adds Private Equity Pro From Paul Hastings

    Katten Muchin Rosenman LLP has nabbed a partner and co-head for its nationwide private equity practice from Paul Hastings LLP’s Chicago office, Katten said Thursday.

  • October 9, 2015

    PE-Backed Packaging Co.To Raise Up To $366.6M In IPO

    Private-equity backed Multi Packaging Solutions International has set terms for an initial public offering valued up to about $366.6 million at the maximum price, according to a Friday filing with the U.S. Securities and Exchange Commission.

  • October 9, 2015

    LoanDepot Launches IPO To Address 'Unmet' Demand

    Private equity-backed LoanDepot, the nation’s second largest nonbank consumer lender, has filed for an initial public offering as part of its effort to address “unmet” consumer demands, the company said in a filing with the U.S. Securities and Exchange Commission on Thursday.

  • October 9, 2015

    5 Ways PE Firms Can Trump Corporate Bidders

    As corporate buyers employ the large sums of cash on their balance sheets in their hunt for revenue growth, private equity firms are struggling to compete in increasingly competitive auctions. Here, Law360 looks at five ways private equity firms can sweeten their offer.

  • October 8, 2015

    LSE To Shed Russell Investments In $1.15B Sale To PE Firms

    The London Stock Exchange Group said Thursday it will sell Russell Investments, the global asset manager and stock index unit of U.S.-based Frank Russell Co., to a pair of U.S. private equity firms led by TA Associates for $1.15 billion in an all-cash deal.

  • October 8, 2015

    Cytomx Prices IPO Below Range As More Biotechs Scale Down

    Cancer-focused biotech Cytomx Therapeutics Inc. priced an $80 million initial public offering below range Thursday, the second venture-backed life science company this week to price an IPO lower than expected, marking the latest sign of tempered expectations from a once-sizzling industry.

  • October 8, 2015

    Pimco Founder Ordered To Deposition In Tiff Over Son’s Co.

    A California judge on Thursday ordered Pacific Investment Management Co. LLC co-founder Bill Gross to appear for deposition in a suit alleging the bond investor destroyed an investment company co-founded by his son, piling on another date with lawyers the same day Gross filed a $200 million suit against Pimco over his ouster.

  • October 8, 2015

    Deals Rumor Mill: Valentino Fashion Group, Sony, Dell

    The owners of Valentino Fashion Group SpA are targeting a $2.26 billion initial public offering for the Italian luxury goods maker, Sony Corp. is looking to sell its half of Sony/ATV Music Publishing LLC and Dell Inc. is in talks to buy EMC Corp.

  • October 8, 2015

    Investors Ramping Up India Real Estate Buys Despite Hurdles

    The Blackstone Group LP and other U.S. private equity shops — as well as various Middle Eastern and European investors — have ramped up their purchase of commercial real estate in India amid a recent loosening of restrictions on the part of the Modi government, but major hurdles to investment remain despite the changes, lawyers say.

Expert Analysis

  • Optim Energy Ch. 11 Ruling Optimal For Equity Investors

    Hollace Topol Cohen

    A Delaware decision in the case of Optim Energy provides an important and instructive precedent for any equity investor that guarantees an affiliate’s credit facility debt and later faces a challenge of its resulting secured claims in bankruptcy, says Hollace Topol Cohen of Troutman Sanders LLP.

  • 10 Ways To Become A 360-Degree Lawyer

    Rosario Lozada Schrier

    Whether you’re a millennial joining the profession or a seasoned veteran, the challenges posed by the current legal market compel everyone to adapt and innovate. Law professors Rosario Schrier and Annette Torres team up to offer 10 tips to develop a more diverse skill set.

  • Don’t Burst My Bubble! IRS Provides Clarity For F Reorgs

    Bryan Smith

    Given F reorganizations' many potential uses, the guidance in recently issued IRS regulations, in particular the confirmation that such reorganizations may in fact occur “in a bubble” without impacting the treatment of related transactions, is welcome, say attorneys with Perkins Coie LLP.

  • A New Critique Of Ch. 11 Reform Carries Serious Weight

    David Griffiths

    The Loan Syndications and Trading Association's response this week to the American Bankruptcy Institute's Chapter 11 reform recommendations is thoughtful, well-researched and forceful, and its most compelling arguments turn on the importance of certainty and uniformity in bankruptcy courts, say David Griffiths and Doron Kenter of Weil Gotshal & Manges LLP.

  • Restocking The Buyer’s Private M&A Toolkit Post-Cigna

    Daniel L. Serota

    While there have been many suggestions about how buyers should address the issues raised by Cigna v. Audax, these solutions are often impractical. What is needed is an alternative approach that restores the economic risk allocation that was available pre-Cigna without imposing deal risk, timing delays or reducing value, say Daniel Serota and John-Alex Shoaff of Greenberg Traurig LLP.

  • 5 Things Clients Never Tell Their Lawyers

    Francis Drelling

    Given the times we live in, it is almost inevitable that everyone will, sooner or later, need to consult with legal counsel. With that in mind, I thought it might be interesting to discuss a few things that clients just won't tell their lawyers, says Francis Drelling, general counsel of Specialty Restaurants Corp.

  • Privacy Risk Considerations In Health Care IT Investments

    Erin Whaley

    By whatever name you call it — health information technology, digital health, mobile health, telehealth — there is a lot of private equity and venture capital money flowing to this space. But to help mitigate the risk of your health IT investment becoming a headline, it is imperative that you carefully examine your target’s privacy and security practices, says Erin Whaley of Troutman Sanders LLP.

  • Disclosure-Only Settlements Face Continued Scrutiny

    Israel Dahan

    Vice Chancellor Sam Glasscock, in a stockholder case related to Riverbed Technology's go-private deal, recently expressed serious reservations about the broad releases provided to Riverbed’s directors in exchange for enhanced disclosures. This and other recent rulings highlight the Delaware Chancery Court’s efforts to ensure that meritorious merger challenges are litigated, say attorneys with King & Spalding LLP.

  • Inside National Futures Association Cybersecurity Guidance

    Heather Egan Sussman

    New cybersecurity guidance proposed by the National Futures Association is particularly noteworthy for firms that are not currently subject to the cybersecurity rules set forth by the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, say attorneys with Ropes & Gray LLP.

  • Specialty Pharmacy Market Ripe For Private Equity Buyers

    Richard S. Grant

    M&A activity in the specialty pharmacy sector has been quite active, as witnessed by a number of key recent deals spread across different players, including large pharmacy providers and big-box retailers. Although increased valuations are expected to follow, opportunities remain for private equity sponsors able to understand the complex regulatory framework, say attorneys with McGuireWoods LLP.