Private Equity

  • December 7, 2017

    Deals Rumor Mill: Old Mutual, Fosun, Johnson & Johnson

    The U.K. wealth business of Old Mutual could be worth about £2.5 billion ($3.35 billion) in an IPO planned for 2018, Fosun is in talks concerning a flotation of its tourism business that could raise $500 million or more, and Johnson & Johnson is mulling a sale of anti-dandruff shampoo Nizoral.

  • December 7, 2017

    Israel Chemicals Snags Roughly $1B In Sale To PE Firm

    Israel Chemicals Ltd. has agreed to sell its fire safety and oil additives businesses to health care and specialty chemicals-focused private equity firm SK Capital Partners in a deal worth about $1 billion, according to a Thursday statement from the Tel Aviv-based specialty minerals company.

  • December 7, 2017

    Energy-Focused PE Firm Closes Latest Fund At $400M Cap

    Kimmeridge Energy Management Co. LLC, an energy-focused private equity firm, on Thursday announced the final closing of its latest fund after reaching its $400 million hard cap, which, along with other co-investments, nets the company $650 million for upstream oil and gas investments.

  • December 7, 2017

    Inside The 10 Largest Private Equity Funds Of 2017

    A strong year of private equity fundraising included the largest PE fund ever raised, and the top 10 investment vehicles of 2017 illustrate the industry's tendency to target businesses based in North America and Europe, as well as its increasing interest in the realm of technology. Here, Law360 counts down the 10 largest funds that held final closings in 2017.

  • December 6, 2017

    SEC Judge Delays Shkreli Hearing In Light Of 'Lucia' Move

    A U.S. Securities and Exchange Commission hearing on whether convicted “pharma bro” Martin Shkreli should be booted from the securities industry was put on hold Tuesday as the in-house judge overseeing the matter looks to address a legal question that’s arisen since the federal government decided to switch sides in a pending U.S. Supreme Court petition known as Lucia v. SEC.

  • December 6, 2017

    Bankrupt Ryckman Creek Allowed To Switch To New Buyer

    Natural gas storage venture Ryckman Creek Resources LLC won Delaware bankruptcy court approval Wednesday to switch its buyer and Chapter 11 plan sponsor to Sandton Capital Partners LP for a deal that is proposed to pay $6.2 million upfront in cash and a $10 million note going forward.

  • December 6, 2017

    Aerogroup Inc. Narrows Ch. 11 Strategy To Asset Sale Track

    Bankrupt women’s shoe maker Aerogroup International Inc. told a Delaware judge Wednesday that it had decided to pursue a sale of its assets and a licensing deal and will be abandoning its dual-track Chapter 11 strategy, which included a liquidation option.

  • December 6, 2017

    Tax Plans, Tariffs Cast Late Pall On Energy Finance In 2017

    Energy developers and investors found new types of projects to fund as well as new ways to fund them in 2017, but the recent prospect of major U.S. tax law changes and tariffs on imported solar panels has injected fresh uncertainty into project development. Here, attorneys identify five energy project finance trends that stood out this year.

  • December 6, 2017

    Broker, SEC Settle Suit Over Unregistered PE Fund

    A former Houston-based financial adviser who ran a branch office for a registered brokerage firm on Wednesday settled fraud allegations leveled by the U.S. Securities and Exchange Commission in a suit in Texas federal court alleging he misled investors while raising $860,000 for a fund with no connection to the firm for which he worked.

  • December 6, 2017

    Deals Rumor Mill: Xiaomi, Disney, Rogers Communications

    Chinese smartphone maker Xiaomi could be valued at up to $100 billion in a 2018 IPO, Disney is nearing a deal to buy assets from 21st Century Fox that in total could be worth more than $60 billion, and Rogers Communications may sell multiple assets, including the MLB’s Toronto Blue Jays.

  • December 6, 2017

    Apax Rakes In $1B For Tech-Based Growth Fund

    Apax Partners LLP has closed a new technology and internet-focused fund after taking in $1 billion from investors, the firm said on Wednesday, marking the completion of its fundraising by co-leading an investment round for an online luxury retailer.

  • December 6, 2017

    ChinaCast Settles With Creditors, Ch. 11 Plan OK'd

    ChinaCast Education Corp. is on its way out of Chapter 11 proceedings after a New York bankruptcy judge Wednesday approved the company's orderly liquidation plan and a linchpin settlement with a class of shareholders that freed up a path to plan confirmation.

  • December 6, 2017

    Industrial Tech-Focused PE Shop Nabs $128M For First Fund

    Anzu Partners on Wednesday said that its inaugural fund took in $128.4 million worth of commitments as the private equity shop looks to invest in industrial technology ventures across the U.S. and Canada.

  • December 6, 2017

    PE-Backed Car Insurer Sabre Prices £287.5M London IPO

    Sabre Insurance Group PLC priced an initial public offering that raised £287.5 million ($384.6 million) Wednesday on the London Stock Exchange, enabling private equity firm BC Partners to trim its holding in Sabre some three years after it bought a controlling stake in the U.K. car insurer.

  • December 5, 2017

    Performance Food's $188M Offering Sees PE Firm Exit

    Food distribution giant Performance Food Group Inc. unveiled an estimated $188 million secondary stock offering Tuesday that enables private equity firm Wellspring Capital Management LLC to sell its remaining stake in Performance Food two years after its initial public offering.

  • December 5, 2017

    Crane Co. Snags Currency Maker From PE Firm For $800M

    Industrial manufacturer Crane Co. on Tuesday said it inked an $800 million deal with private equity firm Lindsay Goldberg and members of the Crane family to buy all of the equity interests in Massachusetts-based global currency producer Crane & Co. Inc.

  • December 5, 2017

    Mayer Brown Advises Nestle's $2.3B Deal For Nutrition Co.

    Nestle has acquired Canada-based nutritional health products maker Atrium Innovations Inc. from a group of investors for $2.3 billion, with Mayer Brown LLP advising the buyer, the company announced Tuesday.

  • December 5, 2017

    Deals Rumor Mill: Unilever, Banorte, Trimco International

    The battle to buy Unilever's margarine and spreads business is nearing a conclusion, two Mexican lenders have agreed to merge in a deal worth $1.42 billion, and Chinese garment-label manufacturer Trimco could be worth about $500 million in a sale.

  • December 5, 2017

    Investor Sues HIG, Bain Capital Over $760M Facility Deal

    A Surgery Partners Inc. shareholder on Monday told the Delaware Chancery Court that Bain Capital Private Equity was allowed to work both sides of a deal and get favorable terms to finance the $760 million acquisition of a surgery facility owner this year.

  • December 5, 2017

    Growth Lending Co. Closes $275M Equity Offering

    Growth lending company Runway Growth Credit Fund Inc. announced Tuesday that it has closed its $275 million initial equity capital offering with help from an increased commitment from funds managed by Oaktree Capital Management LP.

Expert Analysis

  • New Burma Act Would Hinder US Investment In Myanmar

    Geoffrey Atkins

    Some experts estimate that the Burmese military controls up to 50 percent of the country’s economy, and that an additional 20 percent is controlled by individuals and entities targeted under separate sanctions programs. As a practical matter, enactment of the Burma Act of 2017 would mean that a significant portion of Myanmar's economy would be off-limits to U.S. investors, say members of Ropes & Gray LLP.

  • 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 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.

  • Preparing Your Company Witnesses For The Gotcha Question

    Matthew Keenan

    Catching a witness flat-footed on an important topic is no longer confined to cable news, and corporate legal defenses can likewise die when witnesses profess ignorance on things that jurors believe they should know. However, employing some common sense tools can minimize potential harm, says Matthew Keenan of Shook Hardy Bacon LLP.

  • Series

    Judging A Book: Saris Reviews 'Locking Up Our Own'

    Judge Patti Saris

    Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.

  • When Activists Are At The Gate: Lessons From Chancery

    Edward Micheletti

    Several recent Delaware Chancery Court opinions offer helpful insight about the impact that activist investor involvement has on board decision-making leading to a transaction, and how these board decisions will be reviewed by the courts in any subsequent litigation, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Tips For Successful Post-Merger Integration

    Jeremy Swan

    Effective integration efforts start long before a deal is completed. In fact, integration should start at the target screening stage of the M&A process, says Jeremy Swan of CohnReznick LLP.