Private Equity

  • April 10, 2024

    Nixon Peabody Builds Practice With Hiring Of Ex-Sports Agent

    Nixon Peabody LLP has added to its corporate practice counsel a former sports agent well-versed in the world of athletics to bolster its entertainment and sports and stadiums teams.

  • April 10, 2024

    Settlements Prompt SC Cheer Abuse Case Dismissal

    Four suits levying sexual abuse allegations against competitive cheerleading's power brokers have been tossed from South Carolina federal court as a series of settlements have shifted the focus of the litigation from corporate giants to individual gyms and coaches.

  • April 10, 2024

    Diamond Biz Says PE Firm Had 'No Intention' Of Paying Fees

    A Canadian diamond polisher is suing the private equity owner of a lab-grown diamond company in Michigan federal court, arguing that Huron Capital Partners promised to help fund new facilities to process the diamonds it was sending despite knowing the company was heading for bankruptcy and would be unable to pay the fees.

  • April 10, 2024

    NYSE Seeks To Provide SPACs More Time To Close Mergers

    A New York Stock Exchange proposal would provide special-purpose acquisition companies with six more months to complete mergers while remaining listed — assuming relevant parties have signed a definitive agreement before a three-year deadline — potentially providing market participants more flexibility to close deals.

  • April 10, 2024

    Class Attys Seek Big Payday For $100M Pattern Energy Deal

    Class attorneys are urging the Delaware Chancery Court to approve a $100 million settlement to end state and federal court litigation over Pattern Energy Group Inc.'s $6.1 billion go-private sale in 2020 and award them $26 million in fees for a deal they say is the largest of its kind in the Chancery's history.

  • April 10, 2024

    KKR, Inovia Lead Rental Platform Guesty To $130M Series F

    Short-term rental platform Guesty said Erdinast Ben Nathan Toledano & Co. advised as it has raised $130 million in its Series F funding round in a bid to grow its reach, with representatives from new investors KKR and Inovia Capital joining the company's board.

  • April 10, 2024

    Blackwells Unveils Takeover Plans For Hospitality REIT

    Blackwells Capital told Braemar Hotels & Resorts Inc. investors on Wednesday that its intention to take the reins of the real estate investment trust's board of directors is necessary to stop a manager from "milking" the company for all it's worth.

  • April 17, 2024

    McDermott Adds PE Pro From Sidley

    McDermott Will & Emery LLP has hired a private equity specialist from Sidley Austin LLP as a partner as the firm continues to grow its transactions practice in London.

  • April 10, 2024

    Kirkland-Led Lone View Secures $850M For Inaugural Fund

    Growth-oriented private equity shop Lone View Capital, advised by Kirkland & Ellis LLP, on Wednesday announced that it clinched its inaugural fund after raising $850 million from investors, bringing the firm's total assets under management to roughly $1.1 billion.

  • April 10, 2024

    Macy's, Activist Firm End Board Fight, Takeover Talks Proceed

    Macy's and activist investment firm Arkhouse Management Co. said Wednesday they have settled their proxy dispute by appointing two independent directors to the retailer's board, paving the way for further negotiations regarding a prior $6.6 billion acquisition proposal submitted by Arkhouse and Brigade Capital Management LP.

  • April 09, 2024

    Nikola Investors' SPAC Fraud Suit Moves Ahead

    Board directors of electric truck maker Nikola Corp. and the blank-check company that took it public for $3.3 billion in 2020 must face shareholders' derivative claims of insider trading, securities fraud and merger-related breaches after Delaware's Court of Chancery on Tuesday denied more than half of the defense's motions to dismiss.

  • April 09, 2024

    StarKist, PE Co. Settle Tuna Price-Fixing Claims For $3.9M

    Canned tuna buyers are hoping to settle their long-running price-fixing suit with StarKist and Bumble Bee, asking a California federal judge for preliminary approval of two class action payouts worth a total of $3.87 million.

  • April 09, 2024

    Biotech Co. Insiders Sued In Del. Over $200M PIPE Deal Gain

    Investors of clinical-stage pharmaceutical company Taysha Gene Therapies Inc. sued the company's directors and officers in Delaware Chancery Court to recover more than $200 million in damages on behalf of the company after its insiders allegedly wrongfully profited from a public equity sale.

  • April 09, 2024

    Tech M&A Reigns Supreme In Q1 After Rare Hiccup In Q4

    The technology sector logged the greatest total value of global mergers and acquisitions in the first quarter of 2024, following a rare quarter that saw the industry fall out of the top spot and into third place, data from Dealogic shows.

  • April 09, 2024

    Fintech Investment Biz To Go Public Via $700M SPAC Merger

    Financial technology investment platform Linqto Inc., advised by Lowenstein Sandler LLP, on Tuesday unveiled plans to go public through a merger with blank-check company Blockchain Coinvestors Acquisition Corp. I, advised by Seward & Kissel LLP, in a deal valued at $700 million.

  • April 09, 2024

    House GOP To Air Measure Rejecting SEC Climate Rule

    The U.S. House of Representatives' Financial Services Committee will hold a hearing Wednesday morning addressing the U.S. Securities and Exchange Commission's climate disclosure rules, where a leading Republican member of the committee is expected to put forth a resolution that would nullify the rules.

  • April 09, 2024

    Life Sciences GCs On Tighter Regs, Outside Counsel Advice

    General counsel at life sciences venture capital firms are navigating increased regulation in healthcare and looking to outside counsel to act as true advisers and problem-solvers as the healthcare industry becomes more complex.

  • April 09, 2024

    Macy's Sued In Del. To Block 'Dead Hand' Buyout Defense

    A Macy's Inc. pension fund stockholder has sued for a Delaware Court of Chancery order barring the retailer from holding its May 17 annual meeting or impeding a board proxy contest launched by two investor funds after a hostile response to their company takeover offer.

  • April 09, 2024

    Sheppard Mullin Adds Locke Lord Corporate Transactions Pro

    Sheppard Mullin Richter & Hampton LLP has added the co-chair of Locke Lord LLP's corporate and transactional department as a partner in Chicago, the firm announced Tuesday.

  • April 09, 2024

    King & Spalding-Led Dude Perfect Lands $100M-Plus Infusion

    Sports and entertainment group Dude Perfect, advised by King & Spalding LLP, has partnered with Stinson LLP-advised private investment firm Highmount Capital to accelerate the entertainment group's growth and influence beyond traditional channels, according to a Tuesday announcement.

  • April 09, 2024

    New Relic Shareholder Sues To Force Open Corp. Books

    Another shareholder of web analytics firm New Relic Inc. has sued in Delaware's Court of Chancery for corporate records related to the company's $6.5 billion, $87-per-share buyout by private equity firms Francisco Partners and TPG, the latest in a string of shareholder suits seeking records on the deal.

  • April 09, 2024

    Blue Owl Targets Real Estate Finance After $170M Prima Buy

    Asset manager Blue Owl Capital Inc. on Tuesday unveiled plans to launch a real estate finance strategy following its $170 million purchase of real estate lender Prima Capital Advisors in a deal crafted by three firms, marking the firm's second acquisition in two weeks meant to broaden its service offerings.

  • April 09, 2024

    Paul Hastings-Led STG Makes £147M Offer For Software Co.

    Gresham Technologies PLC said on Tuesday it has agreed to an offer from U.S. private equity firm STG Partners LLC to buy the software business for £146.7 million ($185.6 million).

  • April 08, 2024

    3 Firms To Lead Weber Investor Suit Over $3.7B PE Buyout

    Prickett Jones & Elliot, Grant & Eisenhofer PA, and Kessler Topaz Meltzer & Check will together represent a proposed class of investors in grill maker Weber Inc. in consolidated litigation in Delaware's Court of Chancery over a $3.7 billion squeeze-out by private equity firm BDT Capital Partners LLC, Chancellor Kathaleen St. Jude McCormick decided on Monday in what she described as a "close call."

  • April 08, 2024

    Southwest Gas Unit Centuri Eyes Spinoff Through $242M IPO

    Southwest Gas Holdings Inc.'s infrastructure services unit Centuri Holdings Inc. on Monday unveiled terms for an estimated $242 million initial public offering that would lead to Centuri becoming a standalone public company, represented by Morrison Foerster LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.

Expert Analysis

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • The Impact Of Proposed HSR Form Changes On Agency Staff

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    The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.

  • FTC's Health Co. Suit Indicates Agency's Private Equity Focus

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    The Federal Trade Commission's latest lawsuit against an anesthesia company and its private equity investor highlights the agency's willingness to regulate the health care industry even when relevant acquisitions are relatively dated or when the controlling entity's economic interest is under 50%, say attorneys at Simpson Thacher.

  • Top 4 Antitrust Enforcement Issues In Health Care Today

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    The Federal Trade Commission's recent lawsuit against U.S. Anesthesia Partners exemplifies antitrust enforcement authorities' efforts to aggressively reshape the health care industry, ranging from new proposed rules to withdrawals of previous guidance, say attorneys at Fried Frank.

  • Calif. Climate Disclosure Bills Promise Challenges For Cos.

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    Two novel climate disclosure bills recently passed by the California Legislature will pose challenges for many businesses — especially private companies that are less familiar with climate-related reporting obligations — and will require investments of significant time and effort in processes, procedures and personnel, say John Rousakis and Chris Bowman at O'Melveny.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • Fintech Cos. Should Consider Asset-Based Financing For RE

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    Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

  • SEC Risk Alert Provides Helpful Info For Adviser Exam Prep

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    The U.S. Securities and Exchange Commission's recent risk alert makes clear that as the registered investment adviser population continues to grow in size and complexity, the Division of Examinations will keep pace by examining a significant number of advisers each year through its sophisticated and coordinated program, say attorneys at Simpson Thacher.

  • Alleged $636M Deal Error Highlights Ethics Considerations

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    Adelman v. Proskauer, a malpractice suit that allegedly arose from a cut-and-paste error resulting in potential damages of $636 million, presents an intriguing juxtaposition of facts and legal issues — and practical ethical considerations for transactions attorneys, says Richard Leisner at Trenam Law.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Alleged $636M Deal Error Shows Value Of Old-School Methods

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    Though Proskauer Rose has now settled claims involving a copy-paste error in deal documents that could have resulted in $636 million in damages, the debacle reminds attorneys that classic revision methods using paper copies can help avoid drafting errors and actually save time in the long run, says Richard Leisner at Trenam.

  • Series

    ESG Around The World: European Union

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    As the EU makes ESG regulation a priority, companies — both those based in the EU and others just doing business there — need to keep abreast of myriad new legislation that has either already taken effect or will in the near future, as noncompliance could result in fines, damages and director liability, say attorneys at Steptoe & Johnson.

  • Avoiding The Ethical Pitfalls Of Crowdfunded Legal Fees

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    The crowdfunding of legal fees has become increasingly common, providing a new way for people to afford legal services, but attorneys who accept crowdsourced funds must remember several key ethical obligations to mitigate their risks, say Hilary Gerzhoy and Julienne Pasichow at HWG.

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