Private Equity

  • January 18, 2017

    UK PE Shop Tenzing Clinches Debut Fund With $246M In Tow

    Tenzing Private Equity, a recently formed private equity firm focused on investments in lower middle market companies based in the U.K. and Ireland, said on Wednesday that it has closed its inaugural fund after raising £200 million ($246.2 million).

  • January 18, 2017

    O'Melveny Nabs DLA Piper Sports & Entertainment Pro

    A nationally known sports and entertainment partner from DLA Piper with extensive mergers and acquisitions and private equity experience has left that law firm to join O'Melveny & Myers LLP’s New York office, where he will chair the firm’s sports industry group.

  • January 18, 2017

    Cravath Steers Cable One’s $735M NewWave Buy

    U.S. cable provider Cable One Inc., led by Cravath, revealed plans Wednesday to snap up private equity-backed NewWave Communications for $735 million in cash, a deal that stands to expand its non-urban footprint.

  • January 17, 2017

    Zohar Funds Sue Lynn Tilton’s Patriarch Partners

    Three collateralized loan obligation funds created by Patriarch Partners LLC magnate Lynn Tilton have gone after their founder, accusing her in a fraud suit filed Monday in New York federal court of mismanaging the Zohar funds and stealing more than $1 billion from them, putting them at risk of default.

  • January 17, 2017

    7 Companies Launch IPOs Totaling $1.7B As 2017 Heats Up

    Seven companies launched initial public offerings totaling $1.7 billion on Tuesday, led by an estimated $650 million IPO from private-equity-backed oil and gas explorer Jagged Peak Energy, joined by two manufacturers and a bevy of smaller biotechs in the year's first burst of deals.

  • January 17, 2017

    Deals Rumor Mill: Vitanas, Tata Group, Abraaj Group

    German nursing home operator Vitanas could sell for up to €550 million; India's Tata Group intends to increase the stakes it owns in a number of its own listed companies, including an automaker; and emerging economy-focused private equity shop Abraaj Group is interested in buying a stake in Barclays' South African business.

  • January 17, 2017

    Claire's Latest Retailer To Feel The Heat, Scraps IPO Plans

    Claire’s Inc., a jewelry and accessories retailer for girls and young women, said that it would pull its planned initial public offering on Tuesday, marking the latest setback for the specialty retailer and its thousands of stores around the world, in what has been a tenuous environment for retailers.

  • January 17, 2017

    Mobile Marketplace App Letgo Collects $175M From Investors

    Mobile app Letgo, which allows users to buy and sell items locally, has received $175 million in growth equity from a group of private investors that includes Accel Partners and South Africa-based Naspers Ltd., the companies said Tuesday.

  • January 17, 2017

    Elliott, Bluescape Mull NRG Energy Proxy Fight

    Elliott Management and Bluescape Energy revealed Tuesday that they together hold a 9.4 percent stake in NRG Energy and are considering nominating directors, marking the first time a hedge fund and a private equity firm joined forces on an activist campaign.

  • January 17, 2017

    Trump Adviser Sells Firm, Talks Russia-US Biz At Summit

    SkyBridge Capital has been sold, and founder Anthony Scaramucci, an adviser to President-elect Donald Trump who recently met with the head of Russia’s sovereign wealth fund to discuss potential future business relations, has severed all ties with the New York private investment firm.

  • January 17, 2017

    PE-Backed Rev Group Primes $250M IPO

    Rev Group Inc., a private equity-backed maker of emergency and specialty vehicles, set terms Tuesday for an initial public offering expected to bring in around $250 million, with guidance from Davis Polk & Wardwell LLP.

  • January 17, 2017

    Caesars Wins Bankruptcy Plan Approval

    An Illinois federal judge on Tuesday signed off on a plan that lifts Caesars’ underwater operating unit out of Chapter 11 bankruptcy two years after the subsidiary filed for the court’s protection, saying it couldn’t keep up with its $18 billion in debt.

  • January 17, 2017

    Texas PE Shop Rock Hill Brings In $150.6M For 3rd Fund

    Houston, Texas-based private equity firm Rock Hill Capital Group LLC said Tuesday that it has closed its third fund after raking in $150.6 million from limited partners, with plans to invest in lower middle market companies within the industrial products and service sectors.

  • January 17, 2017

    Dechert’s New Hong Kong Team Seals 5 Deals In First 2 Weeks

    The newest deal team to join Dechert LLP’s Hong Kong office clocked a busy first two weeks, with the team of former Cadwalader Wickersham & Taft LLP attorneys sealing five separate transactions.

  • January 13, 2017

    Deal Makers Buoyed After JPMorgan Forum Despite Clouds

    Deals lawyers say they emerged from JPMorgan’s annual health care conference energized for an uptick in activity — in stark contrast to last year’s gloomier vibe — despite the uncertainty that looms regarding the fate of Obamacare and the Trump administration’s drug pricing policies.

  • January 13, 2017

    Calif. Appeals Court Rejects State Biz Tax On Iowa Investor

    An Iowa farm cannot be held liable for a California state tax on businesses operating in the state on the grounds of a small stake in an investment fund, a California appeals court ruled Thursday, saying the investment does not constitute doing business in the state.

  • January 13, 2017

    Blue Nile Investor Sues To Stop $500M Bain Capital Buyout

    A shareholder of online diamond retailer Blue Nile Inc. filed a challenge to the $500 million take-private bid of Bain Capital Private Equity LP in Delaware’s Chancery Court Friday, saying the proxy statement outlining the deal failed to disclose important information about financial projections.

  • January 13, 2017

    Weil Steers PE-Backed Blank Check Co. In $375M IPO

    A blank check company formed by private equity firm The Gores Group priced a $375 million initial public offering on Thursday, with guidance from Weil Gotshal & Manges LLP, as it looks to make acquisitions in industries within its management's expertise.

  • January 13, 2017

    Deals Rumor Mill: AltaGas, Arris International, Intrawest

    Canadian energy infrastructure company AltaGas could pay up to $6 billion for Washington, D.C.-based natural gas utility WGL Holdings, telecommunications equipment manufacturer Arris International is in talks to buy Brocade Communications’ networking equipment business and private equity-owned ski resort operator Intrawest Resorts is on the chopping block.

  • January 13, 2017

    Kirkland Reps Blackstone JV In $2.3B South Texas Shale Deal

    Blackstone’s energy-focused private equity business and Sanchez Energy Corp. said Wednesday they’ve teamed up in a 50-50 partnership to buy Anadarko Petroleum Corp.’s working interest in a South Texas oil and gas shale play for $2.3 billion in a deal guided by Kirkland & Ellis LLP.

Expert Analysis

  • It’s Time To Change The Law Firm Business Model

    Lucia Chiocchio

    Every year, statistics reveal very little change in the number of women and minorities in the ranks of partnership. So how do law firms change this painfully slow rate of progress? It takes more than adding a diversity policy or a women’s leadership program to the current law firm business model, says Lucia Chiocchio, co-chair of Cuddy & Feder LLP's telecommunications and land use, zoning & development groups.

  • Amended Rule 37(e): 1 Year Later

    Samantha Southall

    After a full year in effect, the amended Federal Rule of Civil Procedure 37(e) has been tested in a variety of district courts. A sampling of these decisions reveals that courts seem to be adhering closely to the amended rule and ordering adverse inference instructions only where there was intent to deprive another party of access to relevant information, say Carrie Amezcua and Samantha Southall of Buchanan Ingersoll & Rooney PC.

  • Avoiding The Hidden Costs Of Bargain-Priced E-Discovery

    Michael Cousino

    Many organizations are interested in finding electronic discovery partners who offer tantalizingly low prices for electronic discovery services. However, unforeseen gaps, lax security practices, ignorance of global practices and delayed deliverables can all add up to a surprisingly large final cost, says Michael Cousino of Epiq Systems.

  • Why Anti-Corruption Due Diligence Is Important In M&A

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    When acquiring and investing in companies, it is critical to evaluate and mitigate the risk of both previous and future violations of the Foreign Corrupt Practices Act. Mark Mendelsohn and Peter Jaffe of Paul Weiss Rifkind Wharton & Garrison LLP discuss unique challenges for investors and essential considerations for mergers and acquisitions.

  • Saving Lawyers 1 Breath At A Time: Mindfulness In The Law

    Jennifer Gibbs

    As critical as lawyers are to society, they are reported to be the most frequently depressed occupational group in the United States. In response to the inherently stressful nature of the practice of law, more and more lawyers are turning to an ancient contemplative practice called “mindfulness,” says Jennifer Gibbs of Zelle LLP.

  • Understanding How Blockchain Could Impact Legal Industry

    R. Douglas Vaughn

    Blockchain is essentially a computerized public ledger that can apply to almost anything that a person might save into a database or spreadsheet. This versatile technology may enhance the legal industry by providing an improved record keeping system, setting up "smart contracts" and tracking intellectual property and land records, say R. Douglas Vaughn and Anna Outzen of Deutsch Kerrigan LLP.

  • The Incoming SEC Chairman As I Know Him

    Kevin J. Lavin

    The natural tendency of Democrats will be to criticize President-elect Donald Trump's nominee for U.S. Securities and Exchange Commission chairman as a “Wall Street insider” who won’t be sensitive to regular working-class Americans. I’m a registered Democrat and would enjoy being able to criticize Trump’s selection, but I’ve known Jay Clayton since 1995 and he is no ideologue, says Kevin Lavin of Arnold & Porter Kaye Scholer LLP.

  • 'Fair Value' Takeaways From Merion V. Lender Processing

    Gail Weinstein

    The Delaware Chancery Court relied entirely on the merger price to determine “fair value” in Merion Capital v. Lender Processing Services, confirming that an appraisal award likely will not exceed the merger price in a nonaffiliated transaction where there was a pre-signing market check with “meaningful competition,” say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • The Sky's The Limit For Public-Private Aerial Transit

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    Aerial tramways have been used in a number of U.S. cities for public transport in recent years. Now, aerial gondola lifts are being considered for moving commuters and tourists in New York City, Miami, Philadelphia, Chicago and elsewhere, and the public-private partnership model is emerging as a favored way of delivering and maintaining these green and cost-efficient systems, says Frank Rapoport of Peckar & Abramson PC.

  • Controlling Stockholder Doesn't Equal Entire Fairness Review

    Daniel E. Wolf

    The contours and terms of an M&A transaction are as important as the question of whether there is a “controlling” stockholder to a court’s determination of whether — and to what extent — the more onerous entire fairness standard will be applied, say Daniel Wolf and Gilad Zohari of Kirkland & Ellis LLP.