Private Equity

  • July 31, 2014

    Don't Miss It: Hot Deals & Firms We're Following This Week

    With one of busiest weeks in M&A news so far this year, you may not have seen some announced deals involving Jones Day, Wachtell Lipton, Willkie Farr, Baker Botts and other firms. Here, Law360 takes a look at the ones you may have missed.

  • July 31, 2014

    Highland Holds Onto $2.8M Atty Fees In Fight With Ex-Exec

    A Texas state judge upheld a jury’s $2.8 million award of attorneys’ fees to Highland Capital Management LP against its former private equity head, who himself recovered $2.6 million from a Highland fund that had been set up for employee bonuses, bringing the long-running court fight to a close.

  • July 31, 2014

    Hometown Firm Big Winner As GTCR Invests New $3.85B Fund

    Chicago-based private equity stalwart GTCR LLC has wasted no time putting money from its 11th buyout fund to work after reaching a $3.85 billion close in January, and one firm stands out as a favorite choice in the firm's recent slew of deals.

  • July 31, 2014

    Zodiac Pool Wades Into Ch. 15 After $1B UK Restructuring

    Private equity-controlled Zodiac Pool Solutions SAS and two affiliates filed for Chapter 15 in Delaware bankruptcy court Thursday as the pool supply company looks to enforce agreements restructuring more than $1 billion of debt that were recently approved by a U.K. court.

  • July 31, 2014

    MacAndrews Pushes To Have Renco's JV Claims Tossed

    MacAndrews & Forbes Holdings Inc. tried to convince the Delaware Chancery Court on Thursday to toss several claims lodged by Renco Group Inc., its partner in a venture to produce Humvee military vehicles, that accuse the Ron Perelman-owned company’s subsidiaries of diverting roughly $250 million for themselves.

  • July 31, 2014

    Volksbank Ditches More Assets Under EU Scrutiny

    Austria's Volksbank AG continues to shed assets under pressure from European regulators to boost capital and limit risks with its second big sale this week on Thursday — a spinoff of part of its private equity portfolio for €100 million ($147 million).

  • July 31, 2014

    Deals Rumor Mill: Harvard Drug, Canaan, Alibaba

    Court Square Capital Partners might rake in as much as $1 billion in the auction of its generic-drug distributor Harvard Drug Group, while Canaan Partners has kicked off its 10th venture fund with plans to make seed and early-stage tech and health care investments.

  • July 31, 2014

    Blackstone-Backed Drug Tech Co. Raises $823M In IPO

    The Blackstone Group LP-backed drug delivery company Catalent Inc. raised $822.7 million Thursday in its public debut, pricing in the middle of its range at $20.50 per share as it joined the parade of health care companies making initial public offerings.

  • July 31, 2014

    CCMP To Pay $890M For Belgian Chemical Co.'s US Biz Unit

    Belgian chemical company Solvay SA has agreed to sell its U.S. sulfuric acid production business to private equity firm CCMP Capital Advisors LLC in a $890 million deal that allows Solvay to refocus on its core businesses.

  • July 31, 2014

    Blackstone Funnels Up To $800M Into Asian Energy Venture

    The Blackstone Group LP’s energy private equity arm is investing up to $800 million in Malaysian startup Tamarind Energy to pursue oil and gas development opportunities in Southeast Asia in partnership with the region's host governments and national oil companies, the company said Wednesday.

  • July 31, 2014

    Shaw Communications To Pay $1.2B For ViaWest Data Centers

    Canadian telecommunications and media company Shaw Communications Inc. said Thursday it is acquiring private equity-backed U.S. data center infrastructure and cloud technology company ViaWest Inc. for $1.2 billion from Oak Hill Capital Partners and other shareholders.

  • July 31, 2014

    REIT Throws Down $1.32B For Portfolio Of Home Communities

    Real estate investment trust Sun Communities Inc. has agreed to pay about $1.32 billion including debt for a portfolio featuring 59 manufactured home communities from private equity real estate investment firm Green Courte Partners LLC, the companies said Wednesday.

  • July 31, 2014

    Dealmakers Q&A: Mayer Brown’s Jen Carlson

    I’ve seen too many lawyers get themselves — and sometimes a deal — in trouble because they are too proud or embarrassed to admit that they need help, says Jen Carlson of Mayer Brown LLP.

  • July 31, 2014

    Dealmakers Q&A: Seward & Kissel's Craig Sklar

    When issues arise in a deal, don’t stand on ceremony, cite precedent or say, “this is how it is always done,” but instead try to offer creative solutions, says Craig Sklar of Seward & Kissel LLP.

  • July 30, 2014

    DC Judge Asked To Nix CFTC Cross-Border Swaps Rules

    Several Wall Street lobbying groups urged a D.C. federal judge on Wednesday to vacate the Commodity Futures Trading Commission's controversial cross-border swaps rules, maintaining the agency failed to conduct necessary rulemaking procedures before setting up the regulations.

  • July 30, 2014

    Bankrupt Natrol Gets Nod For Cerberus Settlement

    A Delaware bankruptcy judge on Wednesday blessed a settlement between nutritional supplement maker Natrol Inc. and private equity lender Cerberus Business Finance LLC, removing the specter of litigation that threatened to bog down the vitamin company’s reorganization plans.

  • July 30, 2014

    Carlyle Profits Surge With Strong European Exits

    Carlyle Group LP, last quarter’s most active private equity buyer, said Wednesday it will continue “selective” buying but will be aggressive as it pursues sales to cull its portfolio of companies, as it announced a big gain in profits for the second quarter.

  • July 30, 2014

    DOJ Forces Sale In $330M PE-Backed Aviation Merger

    The U.S. Department of Justice on Wednesday ordered Landmark Aviation to shed service operations at an Arizona airport as a condition of its $330 million acquisition of rival Ross Aviation in order to resolve competition problems with the deal.

  • July 30, 2014

    PE Deals See Wind-Down Of Post-Crisis, Go-Shop Provisions

    Private equity firms are using some deal provisions that became prominent during and after the financial crisis less and less, while also backing away from go-shop provisions, according to a new survey of 49 large deals last year by Weil Gotshal & Manges LLP.

  • July 30, 2014

    Worker Fired For Reporting Harassment At PE Firm, Suit Says

    A former graphic designer for NYG Capital LLC sued the company and its embattled CEO Benjamin Wey in New York state court Tuesday, alleging he was fired for reporting Wey's sexual harassment of an employee who last week sued the company for $850 million.

Expert Analysis

  • OPINION: Lawyers Should Think In Terms Of Big Data

    James H. Wendell

    The vast majority of civil cases in the United States settle before trial. Knowing how many on a particular topic were filed, how many settled, when they settled, and on what terms clearly would be useful to a lawyer advising a client. Big Data could make it possible — yet this type of research is generally ignored by lawyers, says James Wendell of Riddell Williams PS.

  • Investing In Chinese Real Estate Will Soon Be Simpler

    David A. Blumenfeld

    Filing applications for foreign-invested real estate enterprises in China is expected to soon become merely an administrative matter instead of the approval process it currently is — a signal from the Chinese government that restrictions on such investments are being loosened, say attorneys with Paul Hastings LLP.

  • A Case For Synthetic Investment In US Real Estate

    Jeffrey L. Rubinger

    As a result of the dramatic rise in foreign investment in U.S. real estate and federal income taxes imposed under the Foreign Investment in Real Property Tax Act, foreign investors should once again consider investing synthetically through a total return swap, especially considering a recent IRS ruling, says Jeffrey Rubinger of Bilzin Sumberg Baena Price & Axelrod LLP.

  • Death Rattle For Unfinished Business Claims?

    Angelo G. Savino

    In a departure from Jewel v. Boxer, the decisions in the cases of Thelen LLP and Heller Ehrman LLP reflect a shift in the manner by which courts treat trustees’ claims for post-dissolution fees, say Angelo Savino and Julie Moeller Albright of Cozen O'Connor.

  • How To Successfully Get Engaged By A Cayman Liquidator

    Jeremy Snead

    Recent shifts in Cayman Islands law mean that Cayman liquidators are now able to retain foreign lawyers for the liquidation of Cayman-registered funds on more flexible terms, and utilize methods of funding that are not otherwise permissible in the territory, say Tony Heaver-Wren and Jeremy Snead of Appleby (Cayman) Ltd.

  • SDNY Weighs In On Third-Party Releases In Bankruptcy

    Frank Grese

    U.S. Bankruptcy Judge Sean Lane of the Southern District of New York in the case of Genco Shipping & Trading Limited waded into the controversy by considering the appropriateness of third-party releases — and nonconsensual ones at that, says Frank Grese of Weil Gotshal & Manges LLP.

  • Litigator’s Perspective: 5 Tips On Arbitration Provisions

    Daniel T. McCloskey

    It happens all the time. When a dispute arises, two parties find themselves in arbitration, realizing that they might have had more leverage to dictate the terms of the process when they were negotiating the arbitration provision — but missed the opportunity, says Daniel McCloskey of Duane Morris LLP.

  • Amid M&A Uptick, Bidders Must Heed UK Code Changes

    Ilan Kotkis

    Potential bids by U.S. suitors for U.K. target companies in the pharmaceutical and health care sectors seem to be a recurring theme this year

  • What PE Funds Need To Know About Sovereign Immunity

    Gavin Anderson

    Governmental investors in private equity funds may sometimes be protected from legal recourse in ways that other investors are not, but such immunity can be addressed in negotiations — and a carefully drafted waiver clause in the relevant transaction documents, say Shannon Rose Selden and Gavin Anderson of Debevoise & Plimpton LLP.

  • Trial-Ready In 180 Days: Prepare For SDNY's Rocket Docket

    Isaac S. Greaney

    A growing trend in the Southern District of New York akin to a sua sponte rocket docket can provide defendants with an opportunity to set the tone of discovery and shift the burden and risks of the schedule to their adversaries, say Isaac Greaney and Jackie Lu of Sidley Austin LLP.