Expert Analysis

• Key Drivers Behind Widespread Adoption Of NAV Financing

  

  While net asset value-based lending has existed for years, NAV lending has only started to move into the mainstream recently — likely due to difficult market conditions faced by sponsors including persistent inflation, high interest rates and a lack of exit opportunities, say Matthew Kerfoot and Jinyoung Joo at Proskauer.

• Series

  The Pop Culture Docket: Judge Elrod On 'Jury Duty'

  

  Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.

• Keys To Robust AML Programs At Private Funds

  

  Attorneys at Lowenstein Sandler explain why hedge funds, private equity funds and venture capital funds should develop risk-based anti-money laundering compliance programs despite not being subject to the Bank Secrecy Act, and offer tips on setting up a program similar to those implemented by financial institutions.

• 4 Business-Building Strategies For Introvert Attorneys

  Excerpt from Practical Guidance

  

  Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

• Opinion

  3 Ways Justices' Disclosure Defenses Miss The Ethical Point

  

  The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.

• How US Investment Regulation May Shift Under Biden Order

  

  Attorneys at Ropes & Gray explore potential prohibitions, notification requirements and covered transactions under President Joe Biden's recent executive order, which marks an unprecedented expansion of U.S. regulation of investment activity.

• Caregiver Flexibility Is Crucial For Atty Engagement, Retention

  

  As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

• Leveraged Finance Market May Rebound After Cruel Summer

  

  It has been a challenging summer for the leveraged finance market due to the economic climate and tight credit conditions, but cooling inflation and signs of life in the syndicated loan market suggest brighter days ahead, say attorneys at Weil.

• FTC's Proposed HSR Changes Will Complicate Merger Filings

  

  Attorneys at Mayer Brown explore the proposed sweeping revisions to Hart-Scott-Rodino Act premerger notification rules and what the change would mean for deal terms, including the increased cost, uncertainty and risk added to the process.

• Tax Court Ruling Provides Helpful Profits Interest Guidance

  

  A recent U.S. Tax Court decision holding that a partnership may exclude interests in a company that it indirectly received sheds light on related IRS guidance, including the proper valuation method for such interests, though the court's application of the method to the facts of this case appears flawed, say attorneys at Kramer Levin.

• In-Office Engagement Is Essential To Associate Development

  

  As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

• Private Equity Dry Powder Will Likely Spur M&A Opportunities

  

  Despite economic uncertainty and recent headwinds, pent-up dry powder left uninvested by private equity firms may translate into pressure to invest capital and maintain high returns, possibly leading to M&A growth in the second half of the year, say attorneys at Norton Rose.

• Perspectives

  A Judge's Pitch To Revive The Jury Trial

  

  Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.

• How SEC Money Market Fund Reform Diverges From Proposal

  

  The U.S. Securities and Exchange Commission's final amendments to a rule that governs money market funds include several differences from the proposed rule, namely the elimination of swing pricing, the imposition of a new liquidity fee framework, and certain regulatory reporting requirements, say attorneys at K&L Gates.

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

  

  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.