Private Equity

  • November 24, 2015

    PE Firm Gilde Buy Out Partners Closes $1.2B Fund

    Dutch private equity firm Gilde Buy Out Partners on Monday said it has closed its fifth fund at the hard cap of €1.1 billion ($1.17 billion), and that it plans to continue investing in middle-market companies in targeted European countries.

  • November 23, 2015

    Icahn Snatches 7% Stake In Xerox, Might Seek Board Seats

    Billionaire activist investor Carl Icahn has snatched up a 7.13 percent stake in Xerox Corp., making him the struggling company’s second-biggest shareholder, and he might seek representation on its board of directors, according to a Monday securities filing.

  • November 23, 2015

    Ropes & Gray, Paul Hastings Guide $4.6B Petco Buy

    Ropes & Gray LLP and Paul Hastings LLP on Monday said they have guided the sale of Petco Animal Supplies Inc. to private equity group CVC Capital Partners and a Canadian pension fund in a deal valued at roughly $4.6 billion.

  • November 23, 2015

    Deals Rumor Mill: TransGrid, Alibaba, Apparel Authentic

    Australian energy distributor TransGrid will soon sell for up to $5.7 billion, Alibaba Group Holding Ltd. is seeking buyers for its $1 billion stake in Meituan-Dianping and private equity-backed Authentic Brands Group LLC is readying an initial public offering.

  • November 23, 2015

    Ex-TPG Employee, Cousin Settle SEC Insider Trading Case

    A former employee of private equity firm TPG and his cousin have agreed to settle a U.S. Securities and Exchange Commission insider trading suit in New York federal court stemming from two health care industry acquisitions, according to Friday court documents.

  • November 23, 2015

    Tilton's Patriarch Seeks To Push Investment Fund Into Ch. 11

    One of private equity adviser Lynn Tilton’s Patriarch Partners firms filed an involuntary petition Sunday seeking to force one of the distressed-debt investment funds Tilton runs into Chapter 11 bankruptcy, saying an insurance company has seized control and refused to restructure the fund.

  • November 23, 2015

    Simpson, Schulte Guide $570M Multifamily Properties Deal

    Simpson Thacher & Bartlett LLP represented the Blackstone Group LP, and Schulte Roth & Zabel LLP guided Phoenix Realty Group in their joint venture purchase of a portfolio — valued at roughly $570 million — of multifamily properties across California, Florida and Colorado, according to an announcement the companies made Monday.

  • November 23, 2015

    Prestige Inks $225M Deal With PE Firm For DenTek Oral Care

    Health care and household cleaning-product distributor Prestige Brands Holdings Inc. on Monday said it will pay $225 million in cash to snap up DenTek Oral Care Inc. from its private equity owner as Prestige aims to expand its over-the-counter brand portfolio into the specialty oral care product market.

  • November 23, 2015

    Warburg Pincus Raises $12B Investment Fund

    Warburg Pincus LLC on Monday said that it had completed fundraising for its latest investment fund, bringing in $12 billion and continuing a stretch of brisk activity for the global private equity firm.

  • November 20, 2015

    CVC Sells Off $871M In Discounted Spanish Road Co. Shares

    A CVC Capital Partners investment vehicle has sold off €818 million ($871 million) worth of shares in Spanish road operator Abertis Infraestructuras in a discounted private placement, Abertis said Friday.

  • November 20, 2015

    3 IPOs Held Back Over Weak Market Conditions

    Two auto and tech industry initial public offerings plus the potentially first energy-related debut since June were postponed Thursday and Friday over weak market conditions, while a private equity-backed restaurant company delayed a secondary sale, showing many issuers preferring to wait to tap public markets than risk discounts.

  • November 20, 2015

    Deals Rumor Mill: Pfizer, 1MDB, Diebold

    Pfizer and Allergan's $150 billion megamerger could be announced within the next few days, 1Malaysia Development Bhd. is nearing a $2.3 billion sale of control of its power business, and Diebold Inc. will make formal a $1.81 billion offer to buy rival Wincor Nixdorf AG.

  • November 20, 2015

    Morgan Lewis Adds Ex-Covington Investment Atty In London

    Morgan Lewis & Bockius LLP has expanded its roster of investment management lawyers in London by hiring a former Covington & Burling LLP partner with expertise in private equity and financial regulation, according to Morgan Lewis.

  • November 20, 2015

    Texas High Court Takes On Row Over $45M Hospital Buy

    The Texas Supreme Court agreed Friday to hear a jurisdictional dispute between Cornerstone Healthcare Group Holding Inc. and private equity group Nautic Partners LLC, over whether Nautic affiliates can be sued in Texas for their role in allegedly poaching a $45 million hospital chain acquisition.

  • November 20, 2015

    Justices Asked To Eye Fired Truckers' Bid For Ch. 11 Priority

    Eighteen-hundred truckers fired by Jevic Transportation Inc. have asked the Supreme Court to review a Third Circuit decision denying them $12.4 million in claims after their company went bankrupt, in a case that probes private equity firms' creditor prioritization and possible grounds for flipping it.

  • November 19, 2015

    PE Deal Volume Falling As Funds Struggle To Compete

    The volume of acquisitions inked by private equity firms has fallen significantly in 2015, as sky-high valuations and fiercely competitive auctions are forcing financial sponsors to rethink traditional investment strategies, experts say.

  • November 19, 2015

    Deals Rumor Mill: Pfizer, Cosco Group, Towers Watson

    Pfizer Inc. is closing in on a $150 billion deal to buy Allergan PLC, Chinese state-owned shipping companies Cosco Group and China Shipping Group are nearing a $20 billion merger, and Towers Watson & Co. will nearly double the shareholder consideration in its proposed $18 billion merger with Willis Group.

  • November 19, 2015

    Creditor Suits Beyond Scope Of Caesars Ch. 11, 7th Circ. Told

    A group of junior noteholders struck back Wednesday against complaints by Caesars Entertainment Operating Co. that four creditor suits pending against its nondebtor parent threaten to sink reorganization efforts, telling the Seventh Circuit the debtor's call to stay the suits is baseless and outside the scope of bankruptcy protections.

  • November 19, 2015

    Ladbrokes Defends Merger With Rival Gaming Co. Gala Coral

    U.K. gaming company Ladbrokes stood by its plans to merge with private equity-backed rival Gala Coral on Thursday, firing back at Irish shareholder Dermot Desmond’s call for his fellow investors to vote down the transaction.

  • November 19, 2015

    EU Approves HNA Group's $2.7B Play For Swissport

    The European Commission on Wednesday said it has approved Chinese conglomerate HNA Group Co. Ltd.'s proposed 2.7 billion Swiss francs ($2.66 billion) acquisition of luggage handling company Swissport International Ltd., finding the deal would not stymie competition.

Expert Analysis

  • New Federal Rules Acknowledge It’s Time To Drop The 'E'

    Gregory Leighton

    The amendments to the Federal Rules of Civil Procedure scheduled to take effect Dec. 1 are designed to usher in a new era in the U.S. litigation system, this time acknowledging that what was once known as “e-discovery” is now just discovery. The amendments are sweeping in scope, but none is more important than the revised Rule 37(e), say Gregory Leighton and Eric Choi of Neal Gerber & Eisenberg LLP.

  • 10 Things You Should Know About Securities Crowdfunding

    Lori Smith

    The rules of the game have changed to accommodate the evolving dynamics of capital formation in the 21st century. Attorneys with White and Williams LLP highlight 10 key items that all potential issuers, investors and intermediaries need to consider before deciding to participate in securities-based crowdfunding.

  • 3 Ways Technology Is Changing Law Office Designs


    A growing number of attorneys and firms are eschewing tradition by embracing technology to change not only the way we work, but also the way we organize our offices, says Anthony Johnson, founder and CEO of American Injury Attorney Group.

  • The Future Of Appraisal Cases After BMC Software

    Yosef J. Riemer

    The Delaware Chancery Court's BMC Software decision will make it harder for appraisal petitioners to challenge a merger price resulting from a thorough and effective sale process, say attorneys with Kirkland & Ellis LLP.

  • 13 Key Business Objectives For Corporate Legal Departments

    Joe Kanka

    Over the past 35 years, Joe Kanka has experienced the corporate legal department from many angles, including management positions at a major law firm litigation support center, two legal staffing companies, and inside AT&T and Bell Atlantic. Here, he shares his 13 key business objectives that corporate legal departments must strive for in today’s business environment.

  • From The Book Of Jargon: Swapping Seconds

    In this short video — the latest installment from the "Book of Jargon" — Latham & Watkins LLP partner Keith Halverstam defines "swapping seconds."

  • Assessing A Judicial Solution To Abusive Merger Litigation

    Gregory A. Markel

    Since legislation may not be practical, the efforts of Vice Chancellor J. Travis Laster and others on the Delaware bench may be the best available remedy for baseless merger litigation. This solution does carry with it the risk of creating some less-than-perfect incentives, say attorneys with Cadwalader Wickersham & Taft LLP.

  • The Do's and Don'ts Of An SEC Examination

    Ildiko Duckor

    The regulatory environment for U.S. Securities and Exchange Commission-registered investment advisers has become more complex as the result of a more aggressive and interconnected SEC. Among other things, firms should seek to establish a cooperative and noncombative tone with the examiners at the beginning of an exam, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.

  • New Tax Rules Will Affect PE Funds, Partnership M&A

    JoAnne Mulder Nagjee

    Recent modifications to tax audit rules for partnerships will likely complicate the sale of partnership equity. There are also important questions about how the new audit rules will apply to a partnership that is the subject of an M&A transaction, including a private equity fund buying or selling a portfolio company, say attorneys with Kirkland & Ellis LLP.

  • Should In-House Counsel Use US Contract Terms In Europe?

    Mark Webber

    Nearly every U.S. in-house counsel has faced the task of tackling an impending overseas deal when only U.S. state law governed terms are at hand. While "localizing" a contract is one way to ensure that provisions comply with the relevant local law and local market practices, there are 10 key issues to consider, says Mark Webber at Fieldfisher.