Private Equity

  • July 23, 2014

    Kenya Gets Native PE Fund As Foreign Investment Picks Up

    As foreign interest in the region builds, Kenyan private equity firm Ascent Capital Africa Ltd. is granting local pension funds the opportunity to invest in budding companies throughout east Africa.

  • July 23, 2014

    NYG Capital CEO Hit With $850M Intern Sex Harassment Suit

    A former NYG Capital LLC intern is seeking $850 million in damages in a suit filed in New York district court Monday that accuses the company's CEO of repeated sexual harassment, forced sexual relations, stalking and unlawful termination, among other things.

  • July 23, 2014

    Repsol Approaches Talisman In Potential Buyout Bid

    Talisman Energy Inc., which is restructuring amid pressure from activist investors, confirmed Wednesday that energy giant Repsol SA had approached it about “various transactions,” potentially including a buyout that could be worth $10 billion.

  • July 23, 2014

    Deals Rumor Mill: JPMorgan, Fox, Fullscreen

    JPMorgan is closing in on a sale of half of its stake in the $4.5 billion portfolio of its buyout arm One Equity Partners, while cable magnate John Malone doesn't anticipate any competing Time Warner offers.

  • July 23, 2014

    Wis. High Court Dismisses Challenge To $455M Permira Buy

    The Wisconsin Supreme Court on Wednesday dismissed a challenge to Permira Advisers LLC's $455 million purchase of education-technology company Renaissance Learning Inc., saying it had to assume Renaissance's principals were acting in good faith unless there was strong evidence to the contrary.

  • July 23, 2014

    Ex-Quiznos Brass Defrauded Investor Funds, Suit Says

    Avenue Capital Group and Fortress Investment Group LLC funds launched a suit in Colorado federal court Tuesday accusing former executives of bankrupt sandwich chain Quiznos of defrauding them by misrepresenting and artificially inflating the company’s financial data to get them to prop up the ailing company.

  • July 23, 2014

    Dealmakers Q&A: Bird & Bird's Alexander Schroder-Frerkes

    I think merger-related antitrust laws in the EU and Germany in particular are too strict and not conducive to smooth company takeovers. As a result, we don’t have enough global players in Europe that can compete in size with their American and Chinese competitors, says Alexander Schroder-Frerkes, head of Bird & Bird's international corporate group.

  • July 23, 2014

    Dealmakers Q&A: Goodwin Procter's John Haggerty

    As dealmakers become more sophisticated, I suspect we will see an increase in more complicated multitransaction deals, essentially sidecar-type arrangements, where a merger could also become a restructuring, says John Haggerty of Goodwin Procter LLP.

  • July 22, 2014

    IRS Struggling To Audit Large Partnerships, GAO Says

    The nation's number of large partnerships has tripled in less than a decade, yet the Internal Revenue Service audits less than 1 percent of them because of administrative complexities, according to a report released Tuesday by the U.S. Government Accountability Office.

  • July 22, 2014

    Judge Pleads With Argentina, Funds To Settle Bond Dispute

    The New York federal judge overseeing Argentina’s fight with investment firms holding around $1.5 billion in government bonds on Tuesday pled with both sides to reach a settlement of the dispute ahead of an end-of-the-month deadline that will cause Argentina to default on its debt.

  • July 22, 2014

    Benihana Scores Double Win In Trademark, Libel Suits

    Private equity-owned Japanese restaurant chain Benihana Inc. escaped two separate suits Tuesday after a Delaware federal judge agreed to dismiss both Benihana of Tokyo Inc.'s claims that it violated a merger agreement with foreign trademark applications and a defamation suit lodged by the restaurant founder's widow.

  • July 22, 2014

    BlackRock, Others Urge Boards To Boost Investor Engagement

    Several major institutional investors, including BlackRock Inc., have urged the 1,000 biggest public companies in the U.S. to rein in bitter activist plays by adopting a framework for better engaging with investors pioneered in part by the chairman-elect of Cadwalader Wickersham & Taft LLP.

  • July 22, 2014

    Activist Investor Ackman's Herbalife 'Deathblow' Backfires

    Activist hedge fund manager William Ackman's latest effort to make a case against dietary supplement company Herbalife Ltd. failed to gain Wall Street's approval Tuesday, with the company's shares running away from him even as he admitted to spending $50 million to investigate what he claims is a pyramid scheme.

  • July 22, 2014

    Judge's Marriage Bars Other SDNY Judges From Hearing Suit

    A shareholder's suit against Nautilus Neurosciences Inc. leaders and its private equity backers that was recently transferred to the Southern District of New York cannot be heard by any of the judges in that district, in part because one of the judges is married to a defendant in the case, according to a Tuesday court filing.

  • July 22, 2014

    Allen & Overy Reps Blackstone Co. In $764M Max Property Buy

    Max Property Group Plc is selling its real estate division to a Blackstone Group LP-controlled company for £447.7 million ($763.8 million), Blackstone’s latest foray into the European real estate market, Max Property said Tuesday.

  • July 22, 2014

    Summit Partners Nabs New Vet Business After Selling Another

    Less than a week out of the pet care game, private equity firm Summit Partners is back in business with a majority stake in private veterinary group Independent Vetcare Holdings Ltd., the firm said Monday, in a bet that the pet health care industry has legs in the U.K. as well as in the U.S.

  • July 22, 2014

    AppDynamics Becomes Latest Tech Startup Worth Over $1B

    Software management company AppDynamics said on Tuesday it had raised $120 million in venture capital and debt in its latest bid to lock down growth financing, bumping the California-based startup’s valuation over the billion-dollar mark.

  • July 22, 2014

    Gibson Dunn Adds PE, Sports Expert From Boies Schiller

    Gibson Dunn is bolstering its New York corporate practice with a former Boies Schiller & Flexner LLP mergers and acquisitions and private equity specialist with expertise in the sports and entertainment fields, Gibson Dunn announced Monday.

  • July 22, 2014

    Dealmakers Q&A: Katten Muchin's Victoria Shusterman

    Without the extension of the Terrorism Risk Insurance Act, the cost of insuring properties in certain cities will become cost-prohibitive, which may result in slowing down the upswing that we have been seeing, says Victoria Shusterman of Katten Muchin Rosenman LLP.

  • July 22, 2014

    TA Associates Flips Piece Of Cath Kidston To Baring Asia

    TA Associates Management LP cut back its stake in British retailer Cath Kidston, which is known for its whimsical floral and polka-dot patterns, selling it to Baring Private Equity Asia for an undisclosed amount as the firms look to expand the handbag and accessories designer into Asia.

Expert Analysis

  • 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.

  • 5 Takeaways From Latest US Sanctions Against Russian Cos.

    Alexandra Lopez-Casero

    The latest round of U.S. sanctions against Russia’s oil, natural gas and financial industries is a dramatic departure from how the United States has applied targeted sanctions in the past, and raises several questions, say Alexandra Lopez-Casero and D. Grayson Yeargin of Nixon Peabody LLP.

  • Powerful Tools For Discovery And Litigation Strategy

    Nathalie Hofman

    Analytics offer opportunities for refining both discovery strategy and overall litigation strategy by providing information to support better informed decisions. As an added bonus, they can result in significant cost savings, say Nathalie Hofman and Carolyn Southerland of Huron Consulting Group Inc.

  • PRISM Scatters Attorney-Client Privilege

    Any attorney sending or storing confidential client information or privileged communications via the cloud may be knowingly exposing those communications to scrutiny by the U.S. government via programs such as the National Security Agency’s PRISM — and arguably, even waiving any claim of privilege as a result, say attorney Thomas Mullaney and Vaultive CEO Elad Yoran.

  • Bullish Behavioral Health Market Drives Investment

    Richard S. Grant

    The confluence of increased patient demand, lack of adequate services and increased availability of payment has created a market opportunity in behavioral health for private equity investors, say members of McGuireWoods LLP and private equity firm HCP & Co.

  • OPINION: Let's Financially Reward Law Firm Diversity

    Patricia K. Gillette

    It only took the threat of a 10 cent cost increase to make people bring their own bags to Bay Area grocery stores. What if we gave partners an extra $10,000 for increasing diversity in their firms? asks Orrick Herrington & Sutcliffe LLP partner Patricia Gillette.

  • The Troubled Track Record Of The Proxy Strike Suit

    Jonathan A. Shapiro

    The recent wave of proxy strike litigation has now gone two years without a significant court victory, but plaintiffs’ losing record is no guarantee that the wave will slacken anytime soon — particularly if public companies continue paying “go-away” settlements, say Jonathan Shapiro and Joshua Foust of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Crucial Predictive Coding Case Law: Progressive V. Delaney

    Emily Cobb

    Any practitioner considering predictive coding should fully consider Magistrate Judge Peggy Leen’s reasoning in Progressive Casualty Insurance v. Delaney and the potential pitfalls associated with failure to consistently cooperate, say Emily Cobb and Annamaria Enenajor of Ropes & Gray LLP.

  • OPINION: Advance Conflict Waivers Send Wrong Message

    Eric L. Lane

    If there is anything that would convince big law firms to ditch the advance conflict waiver, it is the financial bottom line. And I can assure you firms are losing new client opportunities because of these waivers, says Eric Lane of Green Patent Law.