Private Equity

  • February 11, 2016

    Blount's $855M Buyout Would Cheat Investors, Suit Says

    Outdoor equipment maker Blount International's top brass conspired with Goldman Sachs to craft an $855 million proposed sale of the company that benefited only themselves, a pension fund alleged Wednesday in Delaware Chancery Court. 

  • February 11, 2016

    First Reserve Buys $350M Texas Wind Project

    First Reserve Corp., an energy-focused private equity and infrastructure investment firm, announced on Thursday that it has purchased the $350 million Mariah North Wind project in northern Texas from Mariah Acquisition LLC for undisclosed terms.

  • February 11, 2016

    Caesars' Bank Lenders Say Patience 'Wearing Thin'

    Lenders holding most of the first-lien debt in Caesars Entertainment’s bankrupt operating unit said Wednesday in Illinois court that they will support the business’s request for additional breathing room as it looks to restructure its debt, but indicated that negotiations with financial stakeholders have stalled and that their patience is “wearing thin.”

  • February 11, 2016

    Deals Rumor Mill: Pandora, Saudi Arabian Oil, Takata Corp.

    Pandora Media Inc. is mulling a sale that could value the music streaming service at $1.79 billion, Chinese officials are pushing for a dual listing of Saudi Arabian Oil Co. in Saudi Arabia and Hong Kong, and Takata Corp. is looking to sell its automotive interiors business.

  • February 11, 2016

    Waste Hauler Delays $450M IPO, Cites Weak Market

    Florida-based, private equity-backed solid waste company Advanced Disposal Services said Wednesday that it has delayed a planned $450 million initial public offering because of weak market conditions, becoming the latest planned float to sink under the weight of volatility.

  • February 11, 2016

    Chancellor OKs Third Change In $4.2B Tibco Sale Lawsuit

    A shareholder bid for a $100 million corrective addition to the $4.2 billion Tibco Software Inc.-Vista Equity Partners merger won new life late Wednesday with a Delaware Chancery Court decision to accept an amended complaint in a dispute over the purchase price.

  • February 11, 2016

    Wipro Pays $460M For Insurance Software Co. HealthPlan

    India-based information technology and consulting company Wipro Ltd. has agreed to buy insurance industry software provider HealthPlan Services Inc. from health care-focused private equity firm Water Street Healthcare Partners for $460 million, the companies said on Thursday.

  • February 11, 2016

    JetBlue Launches VC Unit Targeting Tech, Travel Startups

    JetBlue said Thursday it has launched a new Silicon Valley-based venture capital unit that will make investments in early-stage startups focused on technology, travel and hospitality, as the airline looks to remain innovative on the 16th anniversary of its first flight.

  • February 11, 2016

    NGP Provides $150M For Texas Oil Co. Black Mountain

    Texas private equity firm Natural Gas Partners has agreed to plug $150 million into Black Mountain Oil & Energy LLC, an energy company also based in the Lone Star State that explores conventional and unconventional oil and gas reservoirs, the companies said on Thursday.

  • February 11, 2016

    Mayer Brown Hires Reed Smith PE Expert In London

    Mayer Brown LLP said Thursday it has hired the leader of Reed Smith LLP’s European and Middle Eastern private equity practice to join its London office as part of a broader push to strengthen the firm’s private equity offerings.

  • February 10, 2016

    Army Corps OKs $1.2B Blackstone-Backed Clean Energy Line

    A $1.2 billion clean energy transmission project backed by Blackstone Group LP recently cleared another hurdle, when the U.S. Army Corps of Engineers permitted the cables' placement in any U.S. waters along the proposed Canada-to-Vermont route.

  • February 10, 2016

    KKR Invests $75M In Real Estate Lender A10 Capital

    KKR & Co. LP said Wednesday that it has invested $75 million in commercial real estate lender A10 Capital, joining a list of private equity giants that have thrown their weight behind the company.

  • February 10, 2016

    Deals Rumor Mill: Siemens, Eni, Autogrill

    Siemens AG and Gamesa Corp. are on the verge of merging their wind power businesses, Eni SpA is looking into selling $2.3 billion worth of gas and power retail assets, and Italy's billionaire Benetton family is seeking ways to grow its Autogrill restaurant chain.

  • February 10, 2016

    Carrington Coleman Adds Ex-Fortune 500 Co. GC In Dallas

    Carrington Coleman Sloman & Blumenthal LLP on Tuesday announced that it has strengthened its corporate transaction and counseling services with the addition of a former general counsel to BearingPoint and Affiliated Computer Services Inc. as a partner in Dallas, with expertise in the areas of banking, securities, private equity and technology, among others.

  • February 10, 2016

    PE Firm Moves To Duck Suit Blaming It For Herb Co.’s Demise

    Riverside Partners told an Ohio federal judge on Tuesday that a defunct herb farmer suing the private equity firm over a supplier contract it had with one of its portfolio companies is targeting the wrong party, and that claims against it should be dismissed.

  • February 10, 2016

    PE-Backed US Foods Leads Trio Of New IPO Filings

    Private equity-backed food distributor US Foods and two life sciences companies are planning to go public in the U.S., venturing into a volatile market that has recently seen some companies nix their initial public offering plans, according to regulatory documents filed Tuesday and Wednesday.

  • February 10, 2016

    Foley & Lardner Lands LA Tax Partner From Buchalter Nemer

    Foley & Lardner LLP has nabbed a prominent tax attorney from Buchalter Nemer PLC as a new partner in the Milwaukee-based international law firm’s Los Angeles office, Foley announced Tuesday.

  • February 10, 2016

    Mason Wells' Midwest Private Equity Fund Raises $615M

    Milwaukee-based private equity firm Mason Wells said this week the company had exceeded its $550 million goal for its fourth fund, obtaining $615 million in commitments from institutional investors for acquiring medium-sized Midwestern companies.

  • February 9, 2016

    ThinkingPhones Rebrands As Fuze, Pulls In $112M In Funding

    ThinkingPhones, a Massachusetts company that provides cloud-based voice, video and other communications services to businesses, said Tuesday that it has pulled in $112 million in new funding led by private equity investors, the same day it rebranded itself as Fuze.

  • February 9, 2016

    Barnes & Thornburg Nabs M&A Pro For Atlanta Office

    Barnes & Thornburg LLP has added more than three decades of broad business, transactions and private equity experience to its growing Atlanta office with the addition of a partner from Ballard Spahr LLP.

Expert Analysis

  • Impact Investing: Doing Well By Doing Good

    Avisheh Avini

    From the days of divesting assets from companies doing business in apartheid-era South Africa and withholding investments to protest Big Tobacco, values-based investing has come a long way. With impact investing, investors are now seeking to use the markets to solve the toughest challenges of our time, says Avisheh Avini of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Investing In The Marijuana Industry: Where We Stand

    John Bessonette

    Companies — and their investors — continue to face a myriad of risks associated with uncertainty over future regulatory developments concerning the marijuana industry. As large states like California and Ohio prepare for legalization initiatives, however, the trend toward increasing liberalization and associated comfort levels of investors seems likely to continue, say John Bessonette and Tai Aliya of Kramer Levin Naftalis & Frankel LLP.

  • How Does Skadden Stay No. 1?

    Elizabeth Duffy

    Analyzing the reasons why clients choose certain firms reveals a great deal about what is important and valued in the marketplace. Based on interviews with a random sample of over 600 heads of legal in the largest U.S. organizations, Elizabeth Duffy, vice president of Acritas US Inc., identifies the core brand drivers of Skadden Arps Slate Meagher & Flom LLP.

  • OPINION: The Road To Partnership Must Keep Evolving

    Daniel L. Butcher

    In a recent Law360 article it was suggested that promotion to partner was a competition between associates and that taking maternity, paternity or family medical leave could impact an associate's chances at promotion. But this sort of ethos — which may have contributed to law firms’ success in the past — is not the best way to secure the industry's future, says Daniel Butcher, managing partner of Strasburger & Price LLP.

  • Securities Law Considerations In Marketplace Lending

    Anthony R. G. Nolan

    The marketplace lending industry continues to mature and the regulatory landscape continues to evolve to address the unique challenges it poses. Anthony Nolan and Edward Dartley of K&L Gates LLP discuss some federal securities law considerations that are critical to the structures and business models of online marketplaces and their interactions with investors.

  • Challenging An Arbitrator Ab Initio: A Primer

    Solum, Matt.jpg

    Where a perceived conflict is identified early in the process, a party may consider asking the forum overseeing an arbitration to determine whether it is appropriate for an arbitrator to serve on the panel. Despite the potential opacity of these kinds of decisions, discussions with practitioners and experience suggest that such challenges can arise from a number of situations, says Kirkland & Ellis LLP partner Matthew Solum.

  • Takeaways From A Recent Application Of Unocal Standard

    Steven Epstein

    The Delaware courts generally apply the heightened scrutiny standard under Unocal to review challenged board actions taken in response to a perceived corporate control threat. The recent case of Ebix provides another example that the courts disfavor actions that restrict the basic right of stockholders to vote, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Health Care Deal Trends Emerge From JP Morgan 2016

    Amber McGraw Walsh

    After more than 50 structured conversations with health care private equity and investment banking professionals at the recent J.P. Morgan health care conference, we can conclude that there is a deep — almost ubiquitous — interest in finding and structuring the next provider services consolidation, say attorneys with McGuireWoods LLP.

  • Navigating EU’s Ownership Unbundling Rules

    Filip Moerman

    The strict rules passed by European authorities in 2009 to curtail conflicts of interest resulting from the simultaneous holding of transmission and production interests are often perceived as stymieing energy investment. Investors will need to make a convincing case, through detailed and effective mechanics, that the risk for conflict of interest and undue influence is properly contained, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • When Valuations Go South For Unicorns, Other Startups

    Priya Cherian Huskins

    Those of us who have been in Silicon Valley long enough see the signs for an upcoming rash of down-round financings for some private companies, unicorns or otherwise, and many investors may decide to sell a company before all of its “inflated” value has drained. Situations like this call to mind the 2013 Trados decision — which gives insight into a board’s fiduciary duties, says Priya Cherian Huskins of Woodruff-Sawyer & Co.