Asset Management

  • January 10, 2018

    Simpson Thacher Guides KKR's $2B Real Estate Fund

    KKR & Co. LP said Tuesday it closed a $2 billion real estate fund, with the help of Simpson Thacher & Bartlett LLP, that will focus on U.S. properties that have opportunities for adding value through improvements or redevelopment and repositioning.

  • January 10, 2018

    REIT Sunstone Sells Pair Of Marriott Hotels For $139M

    Sunstone Hotel Investors Inc. has sold Marriott-branded hotels in Philadelphia and Quincy, Massachusetts, for a combined $139 million, according to an announcement from the California real estate investment trust on Tuesday.

  • January 10, 2018

    Venture Capital Injections Surge To $164.4B In 2017

    Venture capitalists invested $71.9 billion in U.S. companies through 5,052 deals in 2017 — $164.4 billion globally — with software and health care companies garnering the most investments, according to a report released Wednesday by PricewaterhouseCoopers LLP and CB Insights.

  • January 9, 2018

    Baupost Hit With $4M Short-Swing Suit Over Innoviva Stock

    Hedge fund billionaire Seth A. Klarman and his Baupost firms were hit with a complaint in Massachusetts federal court on Tuesday demanding disgorgement of more than $4 million in short-swing profits that they allegedly made off trading in stock of pharmaceutical company Innoviva Inc.

  • January 9, 2018

    8th Circ. Says SLUSA Sinks Customer Suit Against Scottrade

    An Eighth Circuit panel on Tuesday affirmed the dismissal of a proposed class action alleging that Scottrade Inc. violated its duty to seek the best execution for its customers by steering their limit orders to venues that pay it rebates, agreeing with a Missouri federal court that the Securities Litigation Uniform Standards Act precludes the suit.

  • January 9, 2018

    $179M Fraudster Arrested Boarding Flight To Ecuador

    The former CEO of First Farmers Financial, who pled guilty in 2016 to running a $179 million real estate investment fraud, was arrested over the weekend while attempting to board a private jet to Ecuador two days before his Tuesday scheduled sentencing.

  • January 9, 2018

    REIT, Energy Services Co. Launch IPOs Totaling $511M

    A warehouse-focused real estate investment trust serving food producers and a well completion services company for the energy industry, both private equity-backed, launched initial public offerings totaling $511 million on Tuesday, setting up pricings for next week.

  • January 9, 2018

    Hedge Fund Manager Cops To Stealing Canadian Investments

    A former Cambridge hedge fund manager admitted in Massachusetts federal court on Tuesday to running a Ponzi-style scheme that defrauded an unnamed wealthy family by stealing their Canadian investments.

  • January 9, 2018

    Real Estate Rumors: WR Berkley, Google, Triarch Capital

    Insurance firm W.R. Berkley is reportedly the buyer of real estate investment trust SL Green's office tower on Lexington Avenue in New York, Google is said to be eyeing space in Chicago for thousands of employees, and Triarch Capital has reportedly picked up a pair of Florida office towers for $22.5 million.

  • January 9, 2018

    FINRA To Eye ICOs, Cryptocurrencies In 2018

    The Financial Industry Regulatory Authority plans to increase its focus on how broker-dealers handle initial coin offerings and cryptocurrency transactions, a booming niche that is attracting more regulatory attention, according to the organization’s annual examination letter Monday.

  • January 9, 2018

    Simpson Thacher Helps KKR Form $2.24B Private Credit Fund

    KKR & Co. LP, with assistance from legal adviser Simpson Thacher & Bartlett LLP, has clinched its second private credit fund after raking in $2.24 billion from limited partners, the private equity giant said on Tuesday.

  • January 9, 2018

    Blackstone Grabs Vancouver REIT For $3.05B

    A subsidiary of Blackstone Group LP has agreed to purchase Vancouver-based Pure Industrial Real Estate Trust for CA$3.8 billion ($3.05 billion) including debt, the company said Tuesday.

  • January 9, 2018

    Ex-Deutsche Traders Say Case Hinges On UK Libor Overseers

    Two former derivatives traders at Deutsche Bank argued in a brief filed on Tuesday that prosecutors must call in someone from the U.K. industry association that set the London Interbank Offered Rate in order to prove the traders conspired with others to manipulate the lending benchmark.

  • January 8, 2018

    Defrauded Investors Must Arbitrate Under FINRA: 6th Circ.

    The Sixth Circuit on Monday affirmed a district court’s decision that a brokerage firm must engage in a Financial Industry Regulatory Authority arbitration with a couple that was persuaded to invest hundreds of thousands of dollars in low-quality investments, saying the investments in question happened in the context of the couple’s customer relationship with the firm.

  • January 8, 2018

    Bob Evans Investor Wants To Investigate $1.5B Sale To Post

    An investor in Bob Evans Farms Inc. launched a books and records demand in the Delaware Chancery Court on Monday, looking to investigate the proposed $1.5 billion sale of its packaged food and food-service lines to cereal giant Post on suspicion that directors may have fiddled with financial projections.

  • January 8, 2018

    Simpson Thacher Gets Back Ex-Acting OCC Head As Partner

    Simpson Thacher & Bartlett LLP said Monday that one of its former partners is rejoining the firm after a six-month stint as the temporary head of the Office of the Comptroller of the Currency.

  • January 8, 2018

    Heitman Buys Out Joint Owner's Stake In Firm For $110M

    Real estate investment management firm Heitman LLC has bought out U.K. investment company OM Asset Management PLC’s 50 percent stake in the firm for $110 million, according to separate announcements from the companies on Monday.

  • January 8, 2018

    SEC Seeks Final Judgment For Texas Adviser In Fraud Suit

    The U.S. Securities and Exchange Commission on Friday asked a Texas federal court to sign off on a final judgment resolving the agency’s remaining claims against a disgraced investment adviser who admitted to stealing more than $1 million from clients in what prosecutors called a “scam within a scam.”

  • January 8, 2018

    Sentinel Liquidator’s $33M Fraud Suit Against MBF Survives

    Futures brokerage MBF Clearing Corp. failed to convince a Chicago federal judge to dismiss a $33 million fraud case brought by failed investment firm Sentinel Management Corp., with the court saying Friday that MBF’s concern about Sentinel’s change in legal strategy was “overblown.”

  • January 8, 2018

    REIT Hamborner Drops $70M On Four Retail Properties

    Hamborner REIT AG has purchased four retail properties in Germany for a combined €58.6 million ($70 million), according to an announcement from the real estate investment trust on Monday.

Expert Analysis

  • Series

    40 Years Of FCPA: The Rise In International Enforcement

    Scarboro.jpg

    The 2008 Siemens matter — then the largest sanction ever imposed in a Foreign Corrupt Practices Act enforcement action — set the stage for future cross-collaboration in global anti-corruption enforcement, say Cheryl Scarboro, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission, and Diana Wielocha of Simpson Thacher & Bartlett LLP.

  • Navigating Whistleblower Protections Across The Atlantic

    Lynne Bernabei

    Both the Dodd-Frank Act in the U.S. and rules under the Financial Conduct Authority in the U.K. provide whistleblower protections for financial industry employees who report fraud and regulatory breaches. Whereas the specific protections in the U.S. and U.K. differ somewhat, many of the protection mechanisms are remarkably similar, say Lynne Bernabei and Kristen Sinisi of Bernabei & Kabat PLLC.

  • Top 10 Whistleblowing And Retaliation Events Of 2017

    Steven Pearlman

    The past year saw an aggressive approach to whistleblowing and retaliation actions by the plaintiffs bar and the U.S. Securities and Exchange Commission alike. Steven Pearlman and Edward Young of Proskauer Rose LLP examine the most impactful developments of 2017.

  • Series

    40 Years Of FCPA: Highlights From The 1st Corporate Trial

    Robert Feldman

    The Foreign Corrupt Practices Act case of U.S. v. Harris Corp. was tried in March 1991 — so long ago that pretty much only the parties and counsel remember it. With a smile, I’ve just about given up correcting people who say their case is "the only FCPA case ever to be tried,” says Robert Feldman of Quinn Emanuel Urquhart & Sullivan LLP.

  • SEC Enforcement: Past, Present And Future

    Brian Rubin

    In Dan Brown’s latest best-seller "Origin," he explores where we come from and how we will evolve. The U.S. Securities and Exchange Commission's fiscal 2017 enforcement report is no "Origin," "The Da Vinci Code" or even "Inferno," but the SEC has raised "Origin"-like questions, say Brian Rubin and Gregory Amoroso of Eversheds Sutherland.

  • Series

    40 Years Of FCPA: The Strange Case That Started It All

    Burton Wiand

    At the U.S. Securities and Exchange Commission in April 1978, we filed a case against Page Airways and envisioned the trial of a precedent-setting enforcement action that would have defined Foreign Corrupt Practices Act standards at an early stage. Instead, the matter was settled under circumstances that I am sure are unique in SEC history, says Burton Wiand of Wiand Guerra King PA.

  • The Derivative Risks Of Sexual Misconduct Allegations

    Kevin LaCroix

    The recent derivative lawsuit against Twenty-First Century Fox and its $90 million settlement — likely among the 10 largest derivative settlements — show that the current, ongoing revelations of sexual misconduct represent more than just a risk for the bad actors, says Kevin LaCroix of RT ProExec.

  • 7 Best Practices For Wealth-Managing Fiduciaries

    Stuart Riemer

    The debate over who in the financial services industry should be required to act as a fiduciary has been getting more intense, but whether you are charged with managing someone else’s wealth as a trustee, an executor or a financial adviser, having the client’s needs come first is always paramount, says Stuart Riemer of Treasury Partners.

  • The Billing Evolution: How Far Along Is Your Firm?

    Sharon Quaintance

    In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.

  • 10 Tips For Effective Practice Before The 5th Circ.

    Justin Woodard

    The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.