Private Equity

  • December 2, 2016

    5 Insights From Airbus Group's Joshua Walker

    Technology so quickly outpaces regulation, and it’s imperative governments at every level find that sweet spot where the public is reasonably protected but innovation isn’t stifled. If the U.S. doesn’t get this balance right, other governments will, says Joshua Walker, general counsel and project executive for A3 by Airbus Group.

  • December 1, 2016

    PE-Backed Energy Developer WildHorse Launches $550M IPO

    Private-equity-backed oil and gas explorer WildHorse Resource Development set terms of a $550 million initial public offering Thursday, guided by Vinson & Elkins LLP, marking the latest energy developer to return to public capital markets.

  • December 1, 2016

    Dechert Leads NewStar In $505M Credit Fund Closing

    Dechert LLP has advised NewStar Financial Inc. in the closing of the NewStar Berkeley Fund, a $505 million middle-market managed credit fund, as the specialized finance company develops its asset management business, the company said Wednesday.

  • December 1, 2016

    Ex-Baseball All-Stars Form Private Equity Group, $50M Fund

    Retired baseball all-stars Barry Larkin, David Ortiz, Nolan Ryan, Vernon Wells and Torii Hunter announced the creation of a baseball-focused private equity group Thursday.

  • December 1, 2016

    Deals Rumor Mill: McDonald's, Rockwell Collins, Decolar.com

    A group led by Carlyle and Citic will pay up to $3 billion for McDonald's stores in China and Hong Kong, Starboard intends to disrupt Rockwell Collins' $6.4 billion B/E Aerospace acquisition, and Decolar.com, worth more than $1 billion, could go public in the back half of 2017.

  • December 1, 2016

    Hyperloop Passes $100M Raised With Latest Investment

    High-speed transportation startup Hyperloop Transportation Technologies Inc. said Thursday that it has raised an additional $31.8 million in funding from an investment firm that focuses on transportation, health care and industrial technology innovations, bringing its fundraising total to more than $100 million.

  • December 1, 2016

    Why PE Is The New Training For Commerce Secretaries

    The selection of billionaire private equity investor Wilbur Ross to lead the U.S. Department of Commerce by President-elect Donald Trump marks the third consecutive commerce secretary to have ties to the private equity industry, and experts say the role is a natural fit for those with a private equity past.

  • December 1, 2016

    Carlyle Selling Off Remaining Booz Allen Stake

    The Carlyle Group is selling off its remaining minority shares in Booz Allen Hamilton Inc., a company it first bought in 2008 and later took public, at a price of more than $600 million, according to an announcement Thursday from the government consulting giant.

  • November 30, 2016

    Mnuchin For Treasury Leaves Wall St. Reform In Question

    President-elect Donald Trump’s selection of Steven Mnuchin to lead the U.S. Department of the Treasury cleared up many tax and other policy questions hovering over the incoming administration, yet it shed only a little light on the direction of financial regulatory reform, including the ultimate fate of the Dodd-Frank Act.

  • November 30, 2016

    Katten Muchin Grabs Tax Partner From Reed Smith

    A former Reed Smith LLP tax partner with experience structuring domestic and cross-border corporate and private equity transactions has joined Katten Muchin Rosenman LLP in New York, the firm announced Wednesday.

  • November 30, 2016

    Report Shows Europe On Pace For $13.6B In Tech Funding

    Venture capital firm Atomico forecasts that $13.6 billion will be invested in European technology startups by the end of 2016, versus $12.6 billion last year, on pace for a record funding year and about five times 2011 levels, according to a Wednesday report that says Europe is closing on the U.S. for tech investment.

  • November 30, 2016

    Alston & Bird Adds Financial Services Partner From Goodwin

    Private funds pro Michael Saarinen is joining Alston & Bird from Goodwin Procter LLP as an investment management, trading and markets partner in the New York-based financial services and products group, his new firm said Tuesday. 

  • November 30, 2016

    Zohar Funds Sue In Del. Chancery To Oust Tilton From Cos.

    Two investment funds previously managed by Lynn Tilton’s Patriarch Partners firm are suing the private equity magnate in Delaware Chancery court, claiming she has refused to step down as a director of three companies controlled or partially owned by the funds.

  • November 30, 2016

    Indicted CEO Obtains Evidence Hearing In Fraud Case

    A Manhattan federal judge has told the government it will have to prove that it acted in good faith while searching the home and office of a scandal-plagued private equity CEO for securities fraud and money laundering evidence over his arguments that the searches were an unconstitutional “fishing expedition.”

  • November 30, 2016

    PE Investors Plug $260M Into China's Innovent Biologics

    Chinese biopharmaceutical company Innovent Biologics Inc. has raised $260 million from a group of investors led by private equity fund Future Industry Investment Fund, the companies said Wednesday, with plans to use the capital to continue developing its pipeline of treatments.

  • November 30, 2016

    Deals Rumor Mill: Johnson & Johnson, AppNexus, Albertsons

    Swiss biotech Actelion has rejected a Johnson & Johnson takeover offer, advertising technology startup AppNexus plans to go public next year in an initial public offering that could bring in up to $2 billion, and U.S. grocery giant Albertsons is on the verge of acquiring family-owned peer Price Chopper for $1 billion.

  • November 30, 2016

    Baker Hughes, PE Funds Forming Land Pressure Pumping Co.

    Baker Hughes and two private equity funds said Tuesday that they plan to form a pure-play North American land pressure pumping company from the oil field services company’s existing portfolio.

  • November 30, 2016

    Regulators Need More Time For Bass Pros-Cabela’s Review

    U.S. and Canadian antitrust regulators want more time to review outdoor gear and apparel retailer Bass Pro Shops’ planned $5.5 billion private equity-backed acquisition of camping and hunting retailer Cabela’s, according to a Tuesday regulatory filing.

  • November 30, 2016

    Coliseum Capital Considering Performance Sports Buy

    Coliseum Capital Management LLC is the latest investment firm to express interest in purchasing Performance Sports Group Ltd., a sports equipment company that filed for bankruptcy protection in late October, announcing Tuesday that the company’s financial adviser signed off on talks for a potential purchase.

  • November 30, 2016

    Trump Taps Billionaire Ross To Lead Commerce Department

    President-elect Donald J. Trump on Wednesday formally selected billionaire private equity investor Wilbur Ross to head up the U.S. Department of Commerce, which will play a crucial role in Trump’s potentially drastic overhaul of domestic trade policy.

Expert Analysis

  • Despite Momentum, Marijuana Remains Risky Business

    John Bessonette

    Voters in eight states legalized marijuana last month and more than one-fifth of Americans now live in states with legal recreational marijuana markets. But marijuana companies still lack adequate access to capital and financial services, say attorneys with Kramer Levin Naftalis & Frankel LLP.

  • The Ethical Risks Of A Multijurisdictional Practice

    Melinda Gentile

    As law firms and clients conduct more business on a regional or national scale, multijurisdictional practice is becoming more prevalent for practicing attorneys. Attorneys engaged in both private practice and as in-house counsel need to be aware of the ethical risks of practicing across jurisdictions — including the implications of engaging in the unauthorized practice of law, say Melinda Gentile and Monique Cardenas of Peckar & Abramson PC.

  • How Law Firms Are Using Analytics To Reduce Write-Offs

    Haley Altman

    It is increasingly necessary for law firms to implement strategies to improve efficiency, staffing and value to meet client needs. Haley Altman, CEO and co-founder of Doxly Inc., discusses how to successfully leverage analytical tools and emerging technology to increase profitability.

  • REVIEW: The Missing American Jury

    Judge William Young

    Face it, the American jury system is dying. The arguments Professor Suja Thomas makes in her new book deserve consideration by everyone interested in how our government actually works and how it might recapture the unifying communitarian experience of direct democracy and actual trial by one’s peers, says U.S. District Court Judge William Young of the District of Massachusetts.

  • Not Just Earnouts: Creative Ways To Bridge Valuation Gaps

    John J. McDonald

    Valuation gaps are causing private equity sponsors to be uncompetitive in auction settings and in proprietary deal-flow situations. While sophisticated M&A participants know that earnouts are often used to address valuation gaps, there are several other ways that may be less well-known but can be quite effective, say attorneys with Troutman Sanders LLP.

  • Avoiding Law Firm BYOD Risks: Tips For Securing Devices

    Everett Monroe

    Many believe that the solutions to the security problems created by using smartphones for work are primarily technological, but a much larger piece of the puzzle involves the human factor. To achieve reasonable security around mobile devices, law firms must go back to basics — clear policies, effective training and thoughtful oversight, says Everett Monroe of Hanson Bridgett LLP.

  • 4 Ways Lawyers Can Improve Their Marketing

    Mike Mellor

    Attorneys may not realize the breadth of services that their marketing, design and library teams offer. One of the things I like to do when attorneys start at our firm is give them a download of the kinds of problems we can solve for them so they know how to work with us most effectively, says Mike Mellor, director of marketing at Pryor Cashman LLP.

  • What Financial Institutions Think Of Int'l Arbitration

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    On Nov. 9, an ICC Commission task force released the results of a two-year study regarding the advantages of arbitrating disputes involving financial institutions. Latham & Watkins LLP partner Claudia Salomon, who co-chaired the task force, shares the key findings.

  • SEC In-House Practice Going Back To 'Old Normal'

    David L. Kornblau

    Although the Dodd-Frank Act gave the U.S. Securities and Exchange Commission nearly unfettered discretion to bring almost any enforcement action as an administrative proceeding, 2015 and 2016 data show that the SEC has been reverting to its pre-Dodd-Frank practice in this area. This trend appears likely to continue as the SEC’s composition changes under the Trump administration, say David Kornblau and Sarah Mac Dougall of Covington & Burling LLP.

  • Negotiating Appraisal Conditions In Public M&A

    Victor Lewkow

    Appraisal rights in public mergers and acquisitions have recently garnered greater attention, particularly in Delaware. As a result, more attention is being paid to the possible inclusion of a closing condition protecting the acquirer against excessive use of appraisal rights. Victor Lewkow and Robert Gruszecki of Cleary Gottlieb Steen & Hamilton LLP offer tips for negotiating and drafting such provisions.