Private Equity

  • March 22, 2017

    Deals Rumor Mill: Deutsche Boerse, Souq, Generali

    The European Commission will block the proposed $30 billion merger of Deutsche Boerse and the London Stock Exchange, has agreed to buy United Arab Emirates-based online retailer and marketplace, and Italian insurance giant Generali intends to sell its businesses in Colombia, Ecuador and Panama.

  • March 22, 2017

    Chadbourne M&A Tax Partner Joins Holland & Knight

    A former Chadbourne & Parke LLP tax partner with experience representing companies in mergers, including private equity fund I Squared Capital in its $1.2 billion acquisition of Latin American energy interests, has joined Holland & Knight LLP in New York.

  • March 22, 2017

    Zohar Funds Say Tilton 'Pillaged' Them, Can't Escape Suit

    Three collateralized loan obligation funds known as the Zohar Funds urged a New York federal court Monday to keep intact their suit alleging Patriarch Partners LLC magnate Lynn Tilton "pillaged" more than $1 billion from them, saying she is deliberately mischaracterizing the claims in a baseless attempt to preclude them.

  • March 22, 2017

    Ex-VC Worker Gets Liquidated Damages After $1.2M Win

    The Pennsylvania Superior Court ruled Tuesday that a former employee of a venture capital fund is entitled to liquidated damages on top of a $1.26 million jury verdict in a suit over compensation under a severance agreement, finding that liquidated damages and prejudgment interest aren’t mutually exclusive.

  • March 22, 2017

    Fengate Brings In $300M For Latest PE Fund

    Fengate Real Asset Investments has clinched its latest private equity fund after collecting $300 million from investors, the firm said on Wednesday, with plans to invest in North America-based middle market companies across a range of sectors, including energy, construction and housing.

  • March 22, 2017

    Warburg Pincus Buys Into Banking Sector Fintech Co. Avaloq

    Private equity giant Warburg Pincus LLC has agreed to buy a significant stake in the Avaloq Group AG in a deal that values the banking sector financial technology company at upward of CHF 1 billion ($1.01 billion), the companies said on Wednesday.

  • March 22, 2017

    Starwood Raises $2.85B Milestone Apartments REIT Offer

    Starwood Capital Group on Wednesday said it has raised its previous $2.85 billion take-private offer for Milestone Apartments REIT and is now offering an additional 10 cents a share for the Ontario real estate investment trust, a matter that four law firms are working on.

  • March 22, 2017

    3 PE Firms Team To Form $1.7B Texas Energy Platform

    Three private equity firms have joined forces to launch Argus Energy Managers LLC, a Houston-based platform with more than $1.7 billion in capital under management that will focus on upstream, energy services and equipment and fixed income investments, the companies said Tuesday.

  • March 22, 2017

    High Court Narrows Use Of Structured Dismissals In Ch. 11

    The U.S. Supreme Court ruled Wednesday that the use of so-called structured dismissals to end Chapter 11 cases must be narrowed, holding that a settlement that effectively wiped out employee claims against a trucking company but paid more junior creditors impermissibly sidestepped the U.S. Bankruptcy Code's creditor priority.

  • March 21, 2017

    Commerzbank’s $1B BNY Mellon RMBS Case Clears Hurdle

    A New York federal judge declined on Tuesday to dismiss Commerzbank AG’s billion-dollar suit against Bank of New York Mellon Corp. for allegedly failing to vet residential mortgage-backed securities it was supposed to oversee, finding several of the claims have legs.

  • March 21, 2017

    DLA Piper Guides May River In $165M Fund Close

    Chicago private equity outfit May River Capital LLC on Tuesday said that it has closed its maiden fund with $165 million, guided by DLA Piper, which it will use to make investments in lower middle market industrial businesses.

  • March 21, 2017

    Forum Merger SPAC Launches $125M IPO To Fund Purchase

    Forum Merger Corp., a blank check company formed by executives with private equity experience, on Tuesday launched a $125 million initial public offering to fund an acquisition under guidance from Ellenoff Grossman & Schole LLP.

  • March 21, 2017

    Deals Rumor Mill: SoftBank, PPG, Dominion Diamond

    SoftBank has inked its first of a planned series of investments in WeWork, PPG Industries will try again to buy Akzo Nobel after its initial $22.08 billion offer was rejected and Dominion Diamond is mulling a $1.1 billion takeover offer by billionaire Dennis Washington.

  • March 21, 2017

    EQT Pays $270M For Water Infrastructure Software Co.

    Swedish private equity shop EQT Partners has agreed to buy water infrastructure software business Innovyze Inc. from Stantec Inc., a professional consulting firm that offers planning, engineering and other services, in a deal worth $270 million, the companies said on Tuesday.

  • March 21, 2017

    Rocket Lab Secures $75M As It Readies Launch Operations

    Rocket Lab, a startup focused on making it easier for small satellite companies to launch their devices into space, has collected $75 million from a group of private investors, the company said Tuesday, in a capital raise that values the company at more than $1 billion.

  • March 21, 2017

    MoneyGram To Discuss Euronet’s $1B Competing Offer

    MoneyGram said Monday that the $1 billion takeover offer lodged by Euronet last week triggers terms in its acquisition agreement with former Alibaba unit Ant Financial that will allow it to engage in discussions with Euronet and share information that could potentially lead to a superior deal.

  • March 21, 2017

    Kirkland Helps Marlin Equity Secure $3.25B For Two Funds

    Marlin Equity Partners, with assistance from legal counsel Kirkland & Ellis, has collected $3.25 billion for two funds that will invest in North American and European middle and lower middle market tech-focused companies, the global investment firm said Monday.

  • March 20, 2017

    Chemical Cos. Offer EU Antitrust Fixes For PE-Backed Merger

    North Carolina-based chemicals company Reichhold Group and Italian polymers maker Polynt Group offered concessions to Europe’s antitrust watchdog on Friday, as the companies look to seal a private equity-backed deal that would form a global industry player with more than €2.1 billion ($2.26 billion) in revenues.

  • March 20, 2017

    Broker Defends Ownership Of Junk Wells Fargo Mortgages

    A holding company that allegedly suffered $230 million in losses because Wells Fargo & Co. rubber-stamped junk mortgages told a Manhattan federal magistrate judge on Friday that the company has proven ownership of the at-issue mortgages and that the bank's contentions otherwise are false.

  • March 20, 2017

    Jones Day, Simpson Steer $1.4B Europe Real Estate Deal

    Jones Day represented Hansteen Holdings PLC in connection with its planned €1.277 billion ($1.372 billion) sale of a portfolio of German and Dutch properties, which includes the sale of subsidiary companies, to a venture of Simpson Thacher & Bartlett LLP-led, Blackstone Group LP-advised funds and M7 Real Estate, a deal Hansteen announced on Monday.

Expert Analysis

  • Monthly Column

    Gray Matters: Decision Error

    Gray Matters

    Lawyers make hundreds of decisions during the course of advising a client, consummating a transaction or litigating a case. In this new column, dispute resolution experts Bob Creo and Selina Shultz explore the theory, science and practical aspects of how decisions are made in the legal community.

  • Law Schools And Law Firms: Seeking Common Ground

    Randy Gordon

    What we don’t know is whether the teaching and practice of law are undergoing massive structural changes or we’re still digging out from the worst economic collapse since the Depression. But what we do know is that the missions of the most forward-looking law schools and law firms are converging in ways that were unimaginable 10 years ago, says Randy Gordon, a partner at Gardere Wynne Sewell LLP and executive professor of law at Te... (continued)

  • $7B And Unclear Future For New Markets Tax Credits

    James Lang

    The New Markets Tax Credit program was recently awarded another $7 billion for community development entities to use in attracting private capital to projects in low-income areas. While the Trump administration has not yet weighed in on the program, it is noteworthy that the president himself has a history of using tax credits for development purposes, say James Lang and Justin Mayor of Greenberg Traurig LLP.

  • Not From Around Here? Trying A Case As An Out-Of-Towner

    William Oxley

    The importance of authenticity is magnified when trying a case outside your home jurisdiction. While using references to local landmarks or history can help make arguments relatable, adopting local expressions or style in an attempt to ingratiate oneself with the judge and jury almost always backfires, say William Oxley and Meghan Rohling Kelly of Dechert LLP.

  • Structuring Considerations For Growth Equity Investments

    Excerpt from Lexis Practice Advisor
    Brien Wassner

    The need for both capital and advisory services makes growth-stage companies attractive targets for private equity investment professionals. In this article, Brien Wassner of Milbank Tweed Hadley & McCloy LLP highlights a number of legal and practical considerations that growth equity investors will face.

  • Contracting Accidentally Through Preliminary Agreements

    Glenn D. West

    One of the more litigated issues in transactional law is whether parties to a writing evidencing preliminary intent to proceed with a proposed transaction actually contracted and, if so, to what extent. Two recent cases, one from England and one from New York, illustrate the difficulty this issue can present to deal professionals and their counsel, says Glenn West of Weil Gotshal & Manges LLP.

  • A Snapshot Of M&A Activity In February

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    M&A activity generally declined in February 2017, with total deal volume and the number of transactions falling in the U.S. and globally. In this video, Ariel Deckelbaum of Paul Weiss Rifkind Wharton & Garrison LLP discusses trends in tender offers, hostile offers and other areas related to U.S., global and sponsor-related M&A.

  • How The Most Profitable Law Firms Structure Their C-Suites

    Anita Turner

    The most successful Am Law 200 law firms have evolved from being partner-run to being run by a group of highly skilled professionals reporting to firm shareholders. The data collected from our recent survey indicates this model is generally conducive to increased profitability, says Anita Turner, senior director at Colliers International.

  • Settlement Strategy: What Does The Client Really Want?

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    The best outside counsel think like the client. That includes understanding the client’s perspectives and goals with regard to reaching a settlement — because “good results” mean different things for different clients. Outside counsel must ask themselves the right questions, and know the answers, to shape a client-focused settlement strategy, say Kate Jackson of Cummins Inc. and Patrick Reilly of Faegre Baker Daniels LLP.

  • How To Manage Multiprocess Exit Transactions

    Excerpt from Lexis Practice Advisor
    Brien Wassner

    Multiprocess exit transactions can take significant time and effort, but when contemplating transformative, bet-the-company transactions, considering all options is critical, and pursuing multiple paths may provide the best results for shareholders and management, say Scott Golenbock and Brien Wassner of Milbank Tweed Hadley & McCloy LLP.