Private Equity

  • May 25, 2017

    Bankrupt Payless Eyeing Claims Against Backers Over Buyout

    Payless ShoeSource Inc. is investigating possible legal claims against venture capital backers Golden Gate Capital and Blum Capital, the company said Wednesday, while also separately asking a Missouri bankruptcy court for permission to double store closures from 400 to 800.

  • May 25, 2017

    Deals Rumor Mill: Staples, Web.com, Stada

    Staples has rejected a takeover offer that valued the company at more than $5.8 billion, Web.com is in discussions with private equity firms about a potential buyout, and Advent, Permira and Shanghai Pharmaceuticals have decided not to offer to buy German pharmaceutical company Stada.

  • May 25, 2017

    Riverwood Capital Leads $50M Investment In Billtrust

    Billtrust, a New Jersey-based provider of payment cycle management services to businesses, has secured $50 million in funding from a group of investors led by technology-focused private equity firm Riverwood Capital Management, the companies said Thursday.

  • May 25, 2017

    PE-Backed Cable Giant, Tech Cos Price IPOs Totaling $438.3M

    Three firms steered initial public offerings this week for private equity-owned cable provider WideOpenWest Inc., software developer Appian Corp. and Brazilian memory chip manufacturer Smart Global Holdings Inc. totaling roughly $438.3 million.

  • May 25, 2017

    Chinese Cos. Buy Condom, Sexual Wellness Biz For $600M

    The maker of LifeStyles condoms said Wednesday that it plans to sell its sexual wellness arm to a Chinese consortium for $600 million, as it pivots away from consumer products and toward a business-to-business approach.

  • May 25, 2017

    Vulcan Nabs SPO Partners' Aggregates Biz In $900M Deal

    Alabama-based Vulcan Materials Co., the largest producer of construction aggregates in the U.S., unveiled plans Thursday to snap up investment firm SPO Partners’ aggregates business in a $900 million cash deal, bolstering its operations in the Southeast.

  • May 24, 2017

    Deals Rumor Mill: Abercrombie, Unity, Stada

    Cerberus and American Eagle are said to be teaming up for an offer for struggling teen apparel retailer Abercrombie, software maker Unity scored an investment from Silver Lake and Advent and Permira are no longer expected to make a competing bid for generic-drug maker Stada.

  • May 24, 2017

    Insurance Startup PolicyGenius Nabs $30M In Funding

    Online insurance startup PolicyGenius closed a $30 million funding round Wednesday led by private equity investors Norwest Venture Partners and Revolution Ventures as the firm’s total venture capital investment eclipsed $50 million for the first time in its history.

  • May 24, 2017

    DC Capital Closes Second Fund With $450M

    A private equity firm specializing in investments in companies that provide services to the federal government said it closed its first institutionally backed fund on Wednesday after hitting its $450 million hard cap.

  • May 24, 2017

    PE-Backed Kosmos Energy Unveils $290M Secondary Offering

    International oil and gas explorer Kosmos Energy Ltd. priced a $290 million secondary offering on Tuesday that will allow funds affiliated with Warburg Pincus LLC and The Blackstone Group LP to shed portions of their stakes in the company.

  • May 24, 2017

    Cardiac Tech Investors Hit NEA Funds With Del. Class Suit

    Investors in medical technology developer Advanced Cardiac Therapeutics Inc. opened a class suit against venture capital giant New Enterprise Associates Inc. and affiliates late Tuesday, accusing NEA of using its control for deals that hobbled ACT’s prospects in a $3 billion industry.

  • May 24, 2017

    Blank Check Co. Inks $1.84B PE-Backed Deal For Fidelity

    Blank check company CF Corp. unveiled a $1.835 billion private equity-backed deal Monday for Fidelity & Guaranty Life, emerging as a new buyer in the wake of the Iowa-based annuities and life insurance provider’s failed takeover by China’s Anbang Insurance Group.

  • May 23, 2017

    PE Firm CD&R Snags FIS Consulting Biz Stake In $477M Deal

    Financial services technology firm FIS said Tuesday that it has agreed to sell a majority stake in its management consulting business Capco to private equity outfit Clayton Dubilier & Rice in a $477 million deal guided by Willkie Farr & Gallagher LLP and Debevoise & Plimpton LLP.

  • May 23, 2017

    $30M Rx Service Investor Double-Crossed, Suit Says

    A hedge fund veteran accused two brothers in New York federal court Tuesday of duping him out of his $30 million stake in a booming prescription service, saying the pair exploited his venture capital reputation while fraudulently reselling the promised shares behind his back.

  • May 23, 2017

    LCN Collects More Than $750M For 2 PE Funds

    Private equity firm LCN Capital Partners said Monday that it closed its second iteration of funds, reaching its $750 million target for investments in corporate sale leaseback transactions and other real estate deals in both North America and Europe.

  • May 23, 2017

    Deals Rumor Mill: Sinochem, Constellation, Delivery Hero

    Sinochem is in talks to merge with ChemChina to create a single entity worth roughly $120 billion, Constellation Brands is pursuing an acquisition of Jack Daniel’s parent company, and Europe and Latin America-focused online delivery service Delivery Hero is preparing to go public this summer.

  • May 23, 2017

    Blue Water Leads $300M Investment In Norwegian Energy Co.

    A new energy production and development company focused on the Norwegian continental shelf said Tuesday that private equity shop Blue Water Energy will lead an initial investment that could be worth up to $300 million, making the energy-focused firm the company’s majority shareholder.

  • May 23, 2017

    PE Shop Taps China Life For $950M Net Lease Portfolio Recap

    Private equity real estate firm ElmTree Funds LLC said it would enter into a $950 million recapitalization agreement with China Life Insurance Group on Tuesday, meaning the companies will share a portfolio of properties under lease in the U.S.

  • May 23, 2017

    Genworth Investors Say Lead Plaintiff Rival Has Conflict

    Genworth Financial Inc. investors told a Virginia federal court Monday that Scott + Scott LLP and Johnson & Weaver LLP should not be named lead counsel in their case challenging the insurer’s $2.7 billion sale, saying the firms' client has an incurable conflict of interest from prosecuting two related actions in Delaware court.

  • May 23, 2017

    Skadden Nabs Private Equity Duo From White & Case In London

    Skadden Arps Slate Meagher & Flom LLP has made a major double hire for its London private equity practice with the appointment of a White & Case LLP global private equity group co-head and a private equity partner.

Expert Analysis

  • My Milkshake Is Better Than Yours: Part 2

    Jill Dessalines

    In the second installment of this two-part series on disruptive innovation among mid-size law firms, Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former senior vice president at McKesson Corp., explores a number of ideas for keeping clients and maintaining market position.

  • My Milkshake Is Better Than Yours: Part 1

    Jill Dessalines

    As I sat there listening, incredulous to learn that "Milkshake" was not only a real song but also a chart-topper, it reminded me of Harvard Business School Professor Clayton Christensen’s work on disruptive innovation — and how it pertains to mid-size law firms, says Jill Dessalines, founder of Strategic Advice for Successful Lawyers and former assistant general counsel of McKesson Corp.

  • The Risk Of Liability After A Preferred Stock Redemption

    Gail Weinstein

    The Delaware Chancery Court's recent decision in Frederic Hsu Living Trust v. ODN highlights the potential liability that private equity sponsors and directors face when preferred stock held by the sponsor is redeemed. If future decisions intensify this risk, sponsors could consider alternative investment structures, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Issues To Spot And Raise When Making Direct Co-Investments

    Excerpt from Lexis Practice Advisor
    Christopher Henry

    Private equity co-investors are often asked to review and respond to draft documentation regarding deal terms on short turnaround times. Christopher Henry of Lowenstein Sandler LLP highlights select items that are typically not addressed in the initial drafts of co-investment documents and that most lead sponsors, when asked, will address.

  • Attorneys, Your Input Is Needed On Deposition Rule

    Frank Silvestri, Jr.

    Every lawyer who’s handled a civil case in federal court knows about Rule 30(b)(6), governing deposition procedures. But for many real-world deposition dilemmas, the rule offers little guidance. Last year, an Advisory Committee on Civil Rules subcommittee began considering whether the rule should be amended. Now attorneys must advise the subcommittee how to proceed, says Frank Silvestri Jr. of Verrill Dana LLP.

  • How Client Feedback Programs Benefit Law Firms And Clients

    Elizabeth Duffy

    Despite an increase in engagement with client feedback programs over the last 15 years, law firms — and their clients — have a way to go before realizing the maximum benefits such programs can deliver, says Elizabeth Duffy of Acritas US Inc.

  • A Primer On Effectively Connected Income

    Excerpt from Lexis Practice Advisor
    Adam Tejeda

    Adam Tejeda and Elizabeth Crouse of K&L Gates LLP present a brief overview of effectively connected income and the tension between ECI and foreign investors' goals in making U.S. investments.

  • Solving The Legal Industry's Data Protection Breakdown

    Jeff Ton

    Most law firms today aren't using common security and data protection measures that other industries employ to protect sensitive data. Options like continuous data replication and backups have various pros and cons, but most importantly, law practices must understand the need for a two-tiered approach to data protection, says Jeff Ton of Bluelock LLC.

  • What Fintech Investors Need To Know About ‘Fintech Banks’

    Elizabeth Khalil

    As the battle over the Office of the Comptroller of the Currency’s proposed financial technology charter continues, investors in fintech companies should consider what it would mean for their business strategies if fintech companies actually did become banks, says Elizabeth Khalil of Dykema Gossett PLLC.

  • A Snapshot Of M&A Activity In April

    Video Thumbnail

    After showing signs of strength in March, global M&A activity saw double-digit declines in both dollar volume and number of deals in April. In this short video, Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP discusses the latest changes in U.S., global and sponsor-related M&A activity.