Private Equity

  • August 24, 2016

    PE Firm Can't Stay Discovery In $1.5M Fee Row, Court Told

    Acquisition company Harvey & Co. asked a New York federal court Tuesday not to stay discovery in its $1.5 million suit against MidOcean Partners as it considers the private equity firm’s play to escape claims it owes Harvey a finder’s fee on MidOcean’s 2015 purchase of a toy maker, saying the underlying motion is meritless.

  • August 24, 2016

    Quanergy Valued At More Than $1B After Latest Investments

    Quanergy Systems Inc., which makes software to capture and process real-time 3D mapping, has secured $90 million from a group of private investors in an investment round that values the company at well over $1 billion, Quanergy has announced.

  • August 24, 2016

    Ropes & Gray Steers CCMP's Purchase Of Badger Sportswear

    New York middle market private equity firm CCMP Capital Advisors LLC has agreed to take a controlling interest in family-owned team uniform and other athletic apparel manufacturer Badger Sportswear, the companies said Tuesday, in a deal guided by Ropes & Gray LLP and McGuireWoods LLP.

  • August 23, 2016

    Deals Rumor Mill: Dalian Wanda, AIG, Clearspring Capital

    Dalian Wanda intends to continue buying Hollywood companies to boost China’s moviemaking capabilities, AIG is in talks to sell some of its business operations to Canada Pension Plan Investment Board and private equity firm Clearspring Capital plans to sell a Canadian company that provides drug services to nursing homes.

  • August 23, 2016

    Highland, Ex-Exec Can't Sway Appeals Court To Shift Awards

    A Texas appeals court on Monday affirmed a trial court that awarded Highland Capital Management LP and its former head of private equity each about $2.8 million, after a bitter dispute over the executive’s exit from the hedge fund.

  • August 23, 2016

    Affinity Gaming Embraces Z Capital's $580M Valuation Bid

    Z Capital Group LLC’s private equity arm is set to purchase Affinity Gaming in an all-cash deal, announced Tuesday, that values the casino gaming operator at $580 million, after having its first two offers for the company rejected.

  • August 23, 2016

    Oaktree, Molycorp Row Getting 'Personal,' Del. Judge Says

    A Delaware federal judge refused on Tuesday to stop noteholders from raising $6 million in capital that Oaktree Capital Management LP claims dilutes its stake in former Molycorp Inc. assets, saying she sees a “personal edge” in disputes over the rare earth producer's bankruptcy.

  • August 23, 2016

    Investors Seek Fresh Market Appraisal In $1.4B Apollo Deal

    A new front opened Tuesday in a war over Apollo Global Management LLC’s $1.4 billion purchase of The Fresh Market Inc., with units of hedge fund Verition Fund Management LLC filing a Delaware Chancery Court petition for a stock appraisal.

  • August 23, 2016

    Caesars Back In Bankruptcy Court To Hold Off Creditor Suits

    For the third time in a year, Caesars Entertainment Operating Co. Inc. appeared in bankruptcy court to ask that creditors be stopped from pursuing an $11 billion judgment against the casino operator's nondebtor parent, saying Tuesday that an adverse ruling could bring the whole empire crashing down.

  • August 23, 2016

    Aeropostale Says Sycamore Has Made Bidders Skittish

    An Aeropostale attorney urged a New York judge Tuesday to curtail investor Sycamore Partners, which the company has accused of driving it into bankruptcy, from bidding on the retailer’s assets, saying the firm threatens to “chill” a Chapter 11 auction.

  • August 23, 2016

    Cinven Shells Out $1.4B For PE-Backed BioClinica

    Water Street Healthcare Partners and JLL Partners said Monday that they will sell Pennsylvania-based contract research organization Bioclinica to international private equity firm Cinven in a $1.4 billion deal, marking the private equity firm’s latest play in the clinical services field.

  • August 23, 2016

    2nd Circ. Rebuffs Lynn Tilton Again On SEC In-House Fight

    The Second Circuit on Tuesday refused to rehear private equity magnate Lynn Tilton’s challenge to the constitutionality of the U.S. Securities and Exchange Commission’s administrative court proceedings.

  • August 23, 2016

    Blackstone Signs $620M Deal For NYC Multifamily Complex

    The Blackstone Group LP is under contract for the $620 million purchase of the 894-unit multifamily Kips Bay Court rental complex in New York City, a person familiar with the situation said on Tuesday.

  • August 23, 2016

    Platinum Equity Drops $111.1M On Asian Industrial Assets

    Platinum Equity, a private equity shop run by the owner of the NBA’s Detroit Pistons, has said it will buy a group of plastic packaging and manufacturing device companies from Singapore-based Broadway Industrial Group Ltd. for SG$150 million ($111.1 million) in cash, its second-ever purchase of an Asia-headquartered business.

  • August 23, 2016

    4 Apollo PE Advisers Pay $52.7M To Settle SEC Charges

    Four private equity fund advisers affiliated with Apollo Global Management will pay $52.7 million to settle charges they misled fund investors about fees and a loan agreement and for failing to supervise a senior partner who charged personal expenses to the funds, the U.S. Securities and Exchange Commission said Tuesday.

  • August 22, 2016

    Renco Suit Trimmed Again In Humvee Contract Royalty Fight

    A Delaware Chancery judge blocked Renco Group Inc. on Monday from seeking damages on claims that MacAndrews & Forbes Holdings Inc. violated a contract governing the private equity firms' joint venture to produce Humvee military vehicles, granting a partial victory to MacAndrews in his finding that damages are time-barred.

  • August 22, 2016

    Aeropostale Investor Sycamore Rips Retailer's Ch. 11 Plan

    Aeropostale Holdings Inc. investor Sycamore Partners on Monday issued its latest challenge to the apparel retailer’s restructuring strategy, telling a New York bankruptcy judge that the company has wasted millions of dollars in a bungled Chapter 11 case that has yet to yield a possible purchaser for the business' assets.

  • August 22, 2016

    11th Circ. Won't Consult Fla. Justices, Rehear Insurance Row

    The Eleventh Circuit on Monday shot down a private equity firm’s requests for the Florida Supreme Court’s guidance on issues raised in a fight over coverage for lawsuits tied to the firm's role as adviser to a Mexican food chain and for rehearing of the panel’s decision favoring Indian Harbor Insurance Co.

  • August 22, 2016

    Report Says SEC Probing Silver Lake Over Fees

    The U.S. Securities and Exchange Commission, it was reported on Friday, is probing whether private equity firm Silver Lake Partners properly disclosed that it accepted accelerated payment fees that it earned selling companies and taking them public.

  • August 22, 2016

    Deals Rumor Mill: Empresas, Renesas Electronics, Cinven

    Struggling Empresas ICA is nearing a deal with Spain's Ferrovial and two others to erect a $3.5 billion airport terminal in Mexico City, Japan's Renesas Electronics may soon buy fellow chipmaker Intersil for $2.99 billion, and Cinven is close to acquiring BioClinica for more than $1.3 billion.

Expert Analysis

  • From BigLaw To Your Own Firm: 4 Tips For Legal Startups

    Russell Shinsky

    Highly successful attorneys who are thinking about leaving the safe haven of a large law firm to go out on their own face a number of issues specific to the legal profession. Russell Shinsky, chairman of Anchin Block & Anchin LLP's law firms industry group, shares four pillars of a successful startup law firm.

  • Energy Finance Attys Are Shifting Focus In Tough Times

    Kraig Grahmann

    In the boom years of 2011 through 2014, energy lenders were directing their attorneys to “loosen up” credit agreements. Today’s distressed environment has seen lenders and their attorneys turn 180 degrees to shift their focus to a range of new issues, say Kraig Grahmann and Buddy Clark of Haynes and Boone LLP.

  • 4 Communications Fundamentals For High-Stakes Litigation

    Michael J. Gross

    The court of public opinion can mete out judgments as harsh as those rendered by a court of law, which is why communications professionals and attorneys should be working together to protect their clients’ reputation and advance their legal objectives as litigation proceeds, as well as when decisions or settlements are reached, say Michael Gross and Walter Montgomery at Finsbury.

  • Impact Of Pay-To-Play Rules In 2016 Election Cycle

    Clifford J. Alexander

    Vice presidential candidate Mike Pence’s authority over the Indiana Public Retirement System and the Indiana Education Savings Authority as governor of Indiana may limit political contributions to the Donald Trump presidential campaign from a wide spectrum of financial institutions. Investment advisers, brokers, dealers and municipal advisers, among others, are potentially affected, say attorneys with K&L Gates LLP.

  • Risk Management Tips For Attys Serving As Local Counsel

    Patrick S. (Sean) Ginty

    Often, the lead counsel in a case maintains sole contact with the client and makes substantive decisions, relying upon the local counsel only to serve in the requisite capacity to satisfy jurisdictional procedures. Therein lies the problem — absent appropriate precautionary measures, the local attorney faces equal malpractice exposure for the substantive, strategic decisions of the lead counsel, say Patrick (Sean) Ginty of CNA Glob... (continued)

  • Lessons From Del. On Good Faith, Fair Dealing In Earnouts

    Lisa A. Fontenot

    The inherent complexity of earnouts and the ever-present challenge of predicting all relevant eventualities can lead to disagreement as to whether an M&A buyer complied with its covenants. Recent Delaware decisions emphasize that parties should seriously consider whether and how post-closing operational requirements are to be articulated in agreements, says Lisa Fontenot of Gibson Dunn & Crutcher LLP.

  • A Snapshot Of M&A Activity In July

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    M&A activity was down in July 2016, with significant declines in the number of deals across the board. In this short video, Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP discusses the latest changes in U.S., global and sponsor-related M&A activity.

  • Beware The 'Standard' Mediation Confidentiality Agreement

    Jeff Kichaven

    There are several risks involved with signing a "standard" mediation confidentiality agreement, both to your clients and to yourself. Once you recognize these risks, you will never sign a standard MCA again, at least not without a lot of thought and a lot of disclosures to your client, says Jeff Kichaven of Jeff Kichaven Commercial Mediation.

  • New ISS Policy Affects IPO Co. Director Elections

    Sophia Hudson

    While anti-takeover charter provisions, such as a classified board or dual-class stock, are appropriate in many instances, companies preparing for an initial public offering should be aware of the consequences for director elections given a recent policy change implemented by Institutional Shareholder Services, say attorneys with Davis Polk & Wardwell LLP.

  • 5 Mistakes To Avoid When Building Law Libraries

    Fahad Zaidi.jpg

    As advances in technology continue to push law libraries in a more complex direction, many law firms are still making structural mistakes. Fahad Zaidi, senior consultant at HBR Consulting, notes five common pitfalls that law firms should be wary of when developing their libraries.