Private Equity

  • September 29, 2016

    Deals Rumor Mill: Qualcomm, Spotify, Telefonica

    Qualcomm could buy fellow chipmaker NXP Semiconductors in a deal worth more than $30 billion, Spotify is in advanced discussions to buy SoundCloud and Telefonica SA has canceled the planned IPO of its infrastructure unit after investors balked at Telxius Telecom SA’s up to $4.2 billion valuation.

  • September 29, 2016

    Higher Logic Scores $55M Investment From JMI Equities

    Cloud-based community engagement platform Higher Logic said Thursday that it has closed on a $55 million investment from JMI Equity, in a deal that will land the growth equity firm a spot on Higher Logic’s board.

  • September 29, 2016

    'Unicorn' Apttus Raises $88M On Way To IPO

    Cloud software provider and so-called unicorn Apttus said Thursday that it has raised $88 million in its latest funding round, bringing its total fundraising up to $274 million and putting it on path for a planned initial public offering.

  • September 29, 2016

    Safran In Talks With Advent Over $2.7B Sale Of Unit

    French aerospace company Safran revealed Wednesday that it is in exclusive negotiations with private equity firm Advent International to sell its identity and security business in a deal that values the unit at about €2.4 billion ($2.7 billion), following a strategic review of its options.

  • September 29, 2016

    Kasowitz Steers $99M NYC Purchase, Gibson Guides $83M Loan

    Kasowitz Benson Torres & Friedman LLP represented Imperial Cos. on its $98.5 million purchase of dozens of Manhattan residential condos from private equity shop Ares Management LLC, while Gibson Dunn guided Deutsche Bank AG's $83 million loan for the purchase, according to records filed in New York on Wednesday.

  • September 29, 2016

    Och-Ziff Inks $413M FCPA Deal, Unit Pleads Guilty

    Och-Ziff Capital Management Group LLC will pay nearly $413 million in a deferred prosecution agreement and U.S. Securities and Exchange Commission settlement, while an African subsidiary pled guilty to violating the Foreign Corrupt Practices Act by bribing government officials, the SEC said Thursday.

  • September 29, 2016

    Caisse De Depot Pays $500M For Minority Stake In Sedgwick

    Canadian pension fund manager Caisse de depot et placement du Quebec said Wednesday that it will invest $500 million in private-equity backed claims services provider Sedgwick Claims Management Services Inc., giving it a significant minority stake in the company.

  • September 29, 2016

    Garrison JV Sells Senior Living Portfolio For $180M

    A joint venture of private equity shop Garrison Investment Group LP, Focus Healthcare Partners LLC and Grand Park Capital Management LLC has sold an 818-unit independent living portfolio located across four states for $180 million, according to an announcement on Wednesday from the venture’s broker Cushman & Wakefield Inc.

  • September 28, 2016

    Sidley Austin Snags Three Jones Day Real Estate Attys

    Sidley Austin LLP has hired three former Jones Day attorneys to work as partners to its New York office’s real estate practice, the firm announced Tuesday.

  • September 28, 2016

    Och-Ziff Nears $400M Deal, Guilty Plea For Unit In FCPA Row

    Och-Ziff Capital Management Group LLC is expected to pay more than $400 million and a subsidiary will plead guilty to end investigations by the U.S. Department of Justice and the U.S. Securities and Exchange Commission into whether it bribed African officials, according to reports on Wednesday.

  • September 28, 2016

    Redbox Parent Shareholder Suits Merged In $1.6B Buyout Row

    A Washington federal judge said on Wednesday that he would consolidate five proposed class action suits over RedBox parent Outerwall Inc.’s $1.6 billion private equity buyout deal that allegedly favored insiders, including an activist hedge fund that lobbied for a sale.

  • September 28, 2016

    Lynn Tilton Justifies Latest Suit Over SEC In-House Rules

    Private equity magnate Lynn Tilton told a New York federal judge in a letter on Tuesday why her new suit challenging the U.S. Securities and Exchange Commission’s use of administrative proceedings passes jurisdictional muster, saying the new complaint includes due process and equal protection claims.

  • September 28, 2016

    State Law Applies To Trucking Merger, Del. High Court Told

    The buyer of a Delaware trucking firm told the state’s high court Wednesday that the buyer's counterclaims in a securities suit should be reinstated because both sides agreed that Delaware’s General Corporation Law applied to the 2012 deal.

  • September 28, 2016

    Nixon Peabody Adds Corporate Partner In Rochester, NY

    Nixon Peabody LLP has added a former Harter Secrest & Emery LLP corporate lawyer to its practice to boost the corporate practice in its Rochester, New York, office, the firm announced.

  • September 28, 2016

    Danish Funds Grab $640M Stake In Ship Finance Co.

    Danish Ship Finance AS’s largest shareholders sold their stakes in the shipping company lender to a consortium of Danish investment funds for 4.25 billion Danish kroner ($639.95 million), the company said on Wednesday, in a deal that will support the development of its primary business.

  • September 28, 2016

    Canadian Gov't Gathers $1.35B For Venture Investments

    The Canadian government announced Wednesday that its three-year-old venture capital program has attracted more than $1.3 billion in venture capital funds.

  • September 28, 2016

    Cafe Operator Says PE Firms Double-Crossed It In Takeover

    The New York City-area franchisee of The Coffee Bean and Tea Leaf filed suit Tuesday in California state court against a group of private equity investors that had pledged to fund its planned acquisition of the cafe chain, accusing them of conspiring with the chain to cut the franchisee out of the deal.

  • September 28, 2016

    Och-Ziff Brass Escape Derivative Suit Over FCPA Probes

    A New York state judge has tossed a derivative shareholder suit claiming Och-Ziff Capital Management Group LLC's directors allowed the hedge fund manager to violate the Foreign Corrupt Practices Act and hid the misbehavior from investors despite federal investigations, saying the company acted in good faith in investigating the claims.

  • September 28, 2016

    Goldman Sachs Pumping $70M Into Red Planet Hotels

    Goldman Sachs Group Inc. has invested $70 million in budget hotel chain Red Planet Hotels, according to an announcement from Bangkok-based Red Planet on Wednesday.

  • September 27, 2016

    Standard Charter Reports Possible Indonesian Bribery

    London-based bank Standard Chartered PLC said on Tuesday it had “proactively” alerted authorities when it learned of potential corruption at its portfolio company Maxpower Group Pte. Ltd., after reports the U.S. is investigating the bank over conduct at the Southeast Asian power plant operator.

Expert Analysis

  • The Courtroom Where It Happened: Hamilton As A Lawyer

    Randy Maniloff

    Often lost in discussions about Alexander Hamilton is that he was an extremely important New York lawyer. He had an extensive law practice until his death in 1804 and he wrote what is considered to be the first treatise in the field of private law. Ultimately, Hamilton certainly did get "a lot farther by working a lot harder, by being a lot smarter, by being a self-starter," says Randy Maniloff of White and Williams LLP.

  • A Tale Of Two Cities In Vietnam

    Giles Cooper

    In myriad ways, Vietnam’s two largest cities are considered poles apart. Yet, Hanoi and Ho Chi Minh City cannot escape comparison — or the presumption that they are trying to outdo one another. Ultimately, it is worthwhile to embrace the contrasts and appreciate that both cities possess attractive investment opportunities and, most likely, a bright future, says Giles Cooper of Duane Morris LLP.

  • Why Have Lawyers Forgotten About The Middle Class?

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    Sorry, fellow lawyers, judges and legislators, but the jig is up. It’s time to show the public the cards up our sleeves and give them a chance to weigh in on the fairness of a system that touches so many aspects of their everyday lives, says Chas Rampenthal, general counsel of LegalZoom.

  • Managing The Compliance Aspects Of PE Investments

    Francois Hellot

    It can be difficult for a private equity investor to detect potential wrongdoing by the entities or individuals involved in a target’s business. Therefore, when drafting contractual safeguards in a purchase agreement, investors should take measures to shield themselves against both identified and unidentified risks, say attorneys with Dechert LLP.

  • Overhauling Law Firm Records Departments For A New Reality

    Raymond Fashola

    As automation increases, so do business challenges that impact overall law firm operations. Records departments are facing roadblocks associated with antiquated processes, ever-changing regulatory requirements, and emerging technologies. As a result, firms are reassessing the needs of their records department staffing models, says Raymond Fashola of HBR Consulting.

  • A Snapshot Of M&A Activity In August

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    M&A activity in August 2016 declined across most metrics both in the U.S. and globally. In this video, Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP discusses the latest changes in U.S., global and sponsor-related activity.

  • Reforming China’s Administration Of Foreign Investments

    Thomas M. Shoesmith

    China's recently adopted shift from an approval system to a record-filing system for establishing foreign-invested enterprises symbolizes a desire to create a simplified and efficient environment for foreign investment and will substantially lessen regulatory burdens on investors, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.

  • 3 Steps To Successful Judgment Enforcement

    Craig Weiner

    Judgment enforcement is typically governed by the law of the state where collection is sought, which frequently means collection efforts are controlled by an arcane body of law replete with debtor-friendly roadblocks. Fortunately, there are a number of actions a judgment creditor can take to secure satisfaction of a claim, say Craig Weiner and Michael Kolcun of Robins Kaplan LLP.

  • Should Your Law Firm Move To The Cloud?

    Paul R. Kiesel

    Don't kid yourself into believing, currently, that cloud options are cheaper. Cost is not the justification for moving your law firm to the cloud, says Paul R. Kiesel, founder of Kiesel Law LLP and immediate past president of the Los Angeles Bar Association.

  • Current Trends In Representation And Warranty Insurance

    Nathan J. Neuberger

    While transaction risk was usually limited to buyers and sellers in the past, in recent years a segment of the insurance industry has started shouldering some of the risk behind mergers and acquisitions. Eric Ziff of Aon Transaction Solutions and Nathan Neuberger of Reinhart Boerner Van Deuren explain the similarities and differences between two types of reps and warranties insurance policies.