Private Equity

  • March 13, 2024

    Simpson Thacher Steers Close Of $2B Travel-Focused Fund

    Simpson Thacher & Bartlett LLP-advised KSL Capital Partners LLC on Wednesday said that it clinched its latest travel and leisure-centered private equity fund after amassing roughly $2 billion in capital commitments.

  • March 13, 2024

    Kirkland-Led Wind Point Closes Its Largest Ever Fund At $2.3B

    Chicago-based private equity shop Wind Point Partners, advised by Kirkland & Ellis LLP, on Wednesday said that it closed its latest fund after securing $2.3 billion in commitments, marking the firm's largest fund raised to date.

  • March 13, 2024

    40-Nation Noncompete Must Be Nixed, Conn. Trader Says

    A Connecticut trader who quit his job at Rowayton-based Graham Capital Management LP is seeking a quick win on arguments that his two-year noncompete agreement, which he says bans him from working in more than 40 nations worldwide, is too broad to be enforced under Nutmeg State law.

  • March 13, 2024

    North American Deal-Makers Bearish On 2024 M&A

    A minority of deal-makers in North America expected increases in mergers and acquisitions activity moving into 2024, though their counterparts in Asia and the EMEA region were significantly more optimistic, a new report from software company SS&C Intralinks shows. 

  • March 13, 2024

    Split 2nd Circ. Frees Ex-Apollo Exec From SEC Fraud Fine

    A split Second Circuit panel on Wednesday released a former Apollo Management senior partner from a $240,000 civil penalty in a U.S. Securities and Exchange Commission suit alleging he used phony expense reports to fund a lavish lifestyle, saying there was no way for him to know that his customers would ultimately be charged.

  • March 13, 2024

    Blackstone Closes $600M Credit Deal For Utah Data Center

    Blackstone Credit & Insurance has provided a $600 million senior secured credit facility for Aligned Data Centers' data center development project in West Jordan, Utah, the companies have announced.

  • March 20, 2024

    King & Spalding Hires Paul Hastings Finance Pro

    King & Spalding LLP has appointed Paul Hastings LLP finance expert Peter Schwartz as partner in its London office in a bid to boost its European corporate practice.

  • March 13, 2024

    Orsted Sells Stake In 4 Onshore US Wind Farms For $300M

    Danish energy giant Orsted said Wednesday that it will sell a stake in a portfolio of four U.S. onshore wind farms to investment firm Stonepeak for $300 million.

  • March 12, 2024

    Crypto Bank Anchorage Brings On Ex-SEC Atty As Legal Chief

    Crypto bank Anchorage Digital has hired a former U.S. Securities and Exchange Commission senior attorney and Bain Capital regulatory adviser to head its legal operations after the departure of its general counsel, the bank announced early Wednesday.

  • March 12, 2024

    Bolt Financial's Chairman Is Controlling Board, Suit Says

    Stockholders of Bolt Financial Inc. on Monday updated their derivative complaint against the company's board of directors, alleging chairman, controlling shareholder and former CEO Ryan Breslow purposely defaulted on a $30 million loan that was secured by Bolt and that he has repeatedly appointed and removed directors for his personal interests.

  • March 12, 2024

    SEC Says Ex-Tallgrass Director Tipped Pals To $3.5B Takeover

    The U.S. Securities and Exchange Commission on Tuesday fined a former director of Tallgrass Energy LP accused of committing insider trading by tipping off friends about the then-upcoming $3.5 billion sale of the corporation to private equity giant Blackstone.

  • March 12, 2024

    Auto Software Biz Valued At $6B After $250M Series E Round

    Vehicle software supplier Applied Intuition Inc., advised by Goodwin Procter LLP, on Tuesday celebrated hitting a $6 billion valuation following the close of its $250 million Series E funding round.

  • March 12, 2024

    Clean Fuels Provider XCF To Go Public Via $1.84B SPAC Deal

    Sustainable aviation fuel company XCF Global Capital Inc., advised by Stradley Ronon Stevens & Young LLP, announced on Tuesday that it will go public through a merger with Kirkland & Ellis LLP-advised special purpose acquisition company Focus Impact BH3 Acquisition Co. in a deal that will give the combined business a pro forma enterprise value of $1.84 billion.

  • March 12, 2024

    AT&T Offloaded Pensions In Risky Annuity Deal, Suit Says

    AT&T shirked its fiduciary duty and put 96,000 workers' retirement savings in jeopardy by transferring pension obligations to a "risky" annuity provider, according to a proposed class action filed in Massachusetts federal court.

  • March 12, 2024

    Sheppard Mullin Adds Ex-Latham & Watkins Atty In Chicago

    Sheppard Mullin Richter & Hampton LLP has hired as a partner in its Chicago office an attorney who formerly worked for accounting firm KPMG and also spent 18 years at Latham & Watkins LLP.

  • March 12, 2024

    Scholastic Buys Children's Content Co. 9 Story In $186M Deal

    Children's publishing giant Scholastic on Tuesday announced that it will acquire all the economic interest and minority voting rights in 9 Story Media Group, an independent creator, producer and distributor of children's content, for roughly $186 million.

  • March 12, 2024

    CMS Guides UK Cash Savings Platform On £108M Investment

    Flagstone has secured a £108 million ($138 million) investment from U.S. private equity firm Estancia Capital Partners to help it "capitalize on the opportunities ahead" in Britain's savings market.

  • March 11, 2024

    Hertz Tells Chancery To Reject $4B Buyback 'Hindsight' Suit

    Hertz directors weren't certain when they authorized $4 billion in stock buybacks that it would transfer control of the company to a private equity-backed shareholder, an attorney for Hertz told Delaware's Court of Chancery on Monday, urging the court to toss a shareholder's lawsuit over the buybacks.

  • March 11, 2024

    Entire Deadspin Staff Cut After Site's Sale To European Firm

    All existing employees of sports blogging site Deadspin have been laid off after finding out Monday that the blog's owner, private equity-backed G/O Media Inc., has agreed to sell the site to European firm Lineup Publishing for an undisclosed price.

  • March 11, 2024

    Shoppers' Kroger, Albertsons Suit Shelved Pending FTC Case

    A California federal judge pumped the brakes Monday on a private lawsuit challenging Kroger's $24.6 billion bid for Albertsons, preferring to wait on the outcome of a Federal Trade Commission lawsuit against the deal newly filed in Oregon federal court.

  • March 11, 2024

    Sidley Gains Finance Ace From Paul Hastings In California

    Sidley Austin LLP has strengthened its global finance practice with the addition of a partner who came aboard after practicing at Paul Hastings LLP for more than two decades and will be based in the firm's office in the Century City neighborhood of Los Angeles.

  • March 11, 2024

    Reddit Unveils Long-Anticipated IPO That Could Raise $715M

    Reddit Inc. on Monday launched plans for an estimated $715 million initial public offering, represented by Latham & Watkins LLP and underwriters' counsel Davis Polk & Wardwell LLP, setting in motion the social media platform's long-awaited IPO.

  • March 11, 2024

    Burford, Sysco Can't Swap In Price-Fixing Suits, Court Told

    A magistrate judge was right to point to the underlying facts and public policy when denying an attempt to substitute a Burford Capital affiliate for Sysco in sprawling price-fixing lawsuits against pork and beef producers, the beef producers told a Minnesota federal court.

  • March 11, 2024

    O'Melveny Lands Private Equity Ace From Kirkland In Calif.

    O'Melveny & Myers LLP announced Monday that it has strengthened its private equity group with the addition of a Century City-based partner who came aboard from Kirkland & Ellis LLP.

  • March 11, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery became a hot topic in New Orleans last week as litigators and judges at an annual convention acknowledged the First State's corporate law preeminence is under scrutiny. Back home, the court moved ahead on disputes involving Meta Platforms, Abercrombie & Fitch and Donald Trump.

Expert Analysis

  • Deal-Making Strategies To Explore Amid 2023's Uncertainties

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    Attorneys at White & Case delve into the evolving risks deal makers face in the remainder of 2023, detailing several approaches — such as activist simulations, stock-for-stock deals and divestitures — that may deliver value in an uncertain market.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Opinion

    Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • Opinion

    Merger Guidelines Should Provide For Competition Trustees

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    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.

  • When Investment Banks Can Sell Real Estate In Calif.

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    When investment banks sell businesses that own property in California, they may run into trouble if they are not licensed real estate brokers, unless the property is merely incidental to the deal at hand, say attorneys at Holland & Knight.

  • Merger Guidelines' Broad Tack Ignores Recent Precedent

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    The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.

  • Perspectives

    Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • FERC Order Affirms Increased Scrutiny Of Investor-Utility Ties

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    A recent Federal Energy Regulatory Commission order confirming more aggressive scrutiny of investors' exercise of control over public utilities through representation on their boards or the boards of companies holding interests in them means that both investors and utilities face significantly heightened compliance obligations, say attorneys at Akin.

  • To Survive Scrutiny, Banks Should Craft Careful D&O Policies

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    With banks and their boards facing intensified — and potentially costly — scrutiny after this spring’s bank failures, risk managers can prepare for potential shareholder demands, lawsuits or regulatory probes by designing a robust and targeted directors and officers coverage program, say Jose Lua-Valencia and Jesse Vazquez at Pillsbury.

  • Courts Can Overturn Deficient State Regulations, Too

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    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.

  • Tales From The Trenches Of Remote Depositions

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    As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.

  • Circ. Split May Have Big Effect On SEC Disgorgement Remedy

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    The Second Circuit’s recent U.S. Securities and Exchange Commission v. Ahmed ruling follows equitable limitations on disgorgement imposed by the U.S. Supreme Court despite subsequent congressional amendment, provides guidance on rules that govern the remedy, and sets up a significant circuit split with the Fifth Circuit, says Elisha Kobre at Bradley Arant.

  • What's New In The DOJ-FTC Proposed Merger Guidelines

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    While this week's merger guidelines proposal from the Federal Trade Commission and U.S. Department of Justice initially appears to reflect well-established principles of antitrust law, a closer examination reveals a stark departure from the last 40 years of antitrust enforcement, say attorneys at Skadden.

  • Vice Bankruptcy Ruling Shows Contract Assignment Issues

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    A New York bankruptcy court’s recent ruling in Vice Media’s Chapter 11 case is likely to have implications for other cases involving the assignment of contracts by corporate entities, and may signal that Showtime will still face an uphill battle in trying to prove that its contract constituted personal services, says Debra Dandeneau at Baker McKenzie.

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