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Private Equity

  • September 19, 2018

    Tilton Asks To Keep Zohar Portfolio Financials Private

    Patriarch Partners LLC founder Lynn Tilton sought a protective order in the Chapter 11 cases of the Zohar Funds in Delaware bankruptcy court Wednesday, asking to keep private the financial information of companies owned by the funds to preserve the value of the portfolio companies in the event of a sale by Zohar.

  • September 19, 2018

    Deals Rumor Mill: Tencent Music, Linde, Coca-Cola

    Tencent Music wants to raise roughly $2 billion in an initial public offering, Linde AG is selling more assets, and Coca-Cola is pushing forward with its bid to swallow Nigeria’s Chi Ltd.

  • September 19, 2018

    Indian Interior Co. Inks $70M In Series C Funding Round

    Indian home interior and renovation company Livspace on Wednesday said it had reaped $70 million in a Series C funding round led by TPG Growth and Goldman Sachs.

  • September 19, 2018

    Chancery Orders $87.8M Bond Ahead Of Oxbow Sale Appeal

    Billionaire William I. Koch and his flagship company, Oxbow Carbon LLC, must post an $87.8 million bond before appealing a Chancery Court order to sell the company to pay minority unitholders that were denied a right to a buyout in 2016, a vice chancellor ruled early Wednesday.

  • September 19, 2018

    Real Estate Rumors: Spotify, Carlyle, Sterling Bay

    Spotify has reportedly subleased 85,666 square feet in Manhattan from the Port Authority of New York and New Jersey, a Carlyle venture is said to have sold three Florida self-storage buildings for $100 million and Sterling Bay has reportedly dropped roughly $20 million on a Chicago Fulton Market building.

  • September 19, 2018

    Northleaf Raises $2.2B Via Global Private Equity Program

    Canadian private fund manager Northleaf Capital Partners said Wednesday that it has raised $2.2 billion through its global private equity program and will use the capital to invest in the firm’s various existing funds.

  • September 18, 2018

    Firms Vie For Lead Counsel Spot In AmTrust Chancery Suits

    Major plaintiffs' firms including Grant & Eisenhofer PA and Kessler Topaz Meltzer & Check LLP sought the lead counsel spot Tuesday in putative class action suits against AmTrust Financial Services Inc. in Delaware Chancery Court over a $2.95 billion take-private proposal brought by the company's controlling shareholders.

  • September 18, 2018

    VC-Backed Eventbrite Raises IPO Funding Target To $230M

    Venture-backed online ticketing platform Eventbrite Inc. on Tuesday raised the price range and fundraising target of its initial public offering to $230 million, possibly indicating demand for its impending IPO was better than expected.

  • September 18, 2018

    UiPath Inks $225M In CapitalG, Sequoia-Led Series C Round

    UiPath, a software company focused on robotic process automation, on Tuesday said it reaped $225 million from a Series C funding round co-led by Alphabet Inc.'s investment fund CapitalG and venture capital firm Sequoia Capital, valuing the company at $3 billion.

  • September 18, 2018

    Deals Rumor Mill: GSK, ADC Therapeutics, Haidilao

    GlaxoSmithKline’s health nutrition unit Horlicks has received bids from Coca-Cola, Nestle and Unilever, ADC Therapeutics is considering going public, and Haidilao nabbed almost $1 billion after the Chinese hot pot chain priced its Hong Kong initial public offering

  • September 18, 2018

    Postmates Locks In $300M VC Fund Led By Tiger Global

    On-demand delivery service Postmates Inc. said on Tuesday that it raised $300 million led by hedge fund and private equity fund manager Tiger Global Management LLC as the company gears up to increase its coverage to more than 70 percent of the U.S. before the end of the year.

  • September 18, 2018

    Elon Musk's Take-Private Tweet Draws Tesla Into DOJ Probe

    Tesla said Tuesday that the U.S. Department of Justice is investigating CEO Elon Musk's August tweet suggesting he was poised to take the electric-car maker private, a comment that caused an uproar and the company's stock to soar before Musk made an abrupt about-face under pressure. 

  • September 17, 2018

    Deals Rumor Mill: Uber, Bayer, QIA

    Uber is in talks to buy Careem Networks FZ, Bayer is wooing suitors for a stake in Currenta, and the Qatar Investment Authority is discussing a deal to invest in Chinese online lending powerhouse Lufax.

  • September 17, 2018

    Claire's Strikes Deal With Oaktree Over Contested Ch. 11

    After several hours of negotiations, Claire's was able to avoid what was likely to be a highly contentious confirmation hearing for the accessory retailer's Chapter 11 restructuring plan after settling with second-lien creditors now set to recover millions more under the plan.

  • September 17, 2018

    Simpson Thacher Steers Blackstone's €948M Spain REIT Deal

    Simpson Thacher & Bartlett LLP represented The Blackstone Group LP in connection with its roughly €947.9 million ($1.1 billion) purchase of a majority stake in Spain-based Testa Residencial SOCIMI SA, which Testa announced on Monday.

  • September 17, 2018

    Wachtell Steers Chemical Co. Univar In $2B Nexeo Buy

    Univar Inc., led by Wachtell Lipton Rosen & Katz, said Monday it will snap up private equity-backed chemicals and plastics distributor Nexeo Solutions Inc. in a $2 billion — including debt — deal in the latest chemicals industry tie-up.

  • September 17, 2018

    Ex-Camelot Exec Must Pay $18.6M For Stealing From Fund

    A New York federal judge has fined the former manager of private equity fund Camelot Acquisitions Secondary Opportunities almost $9.3 million and ordered him to disgorge the same amount, using the dollar figure he pled guilty to stealing from the fund in a state criminal case years ago, according to a Friday filing.

  • September 17, 2018

    Lucid Motors Lands $1B From Saudis With O'Melveny's Help

    Lucid Motors, working with legal adviser O'Melveny and Myers LLP, has inked an agreement under which the California-based electric-car company will receive $1 billion from the public investment arm of the government of Saudi Arabia, according to a Monday statement.

  • September 17, 2018

    Investcorp Drops $300M On Multistate Warehouse Portfolio

    Investcorp on Monday said it paid roughly $300 million for its largest-ever acquisition of a U.S. warehouse portfolio that includes properties in Texas, Pennsylvania, Delaware and Illinois, the ninth deal of its kind for the investment manager in the past three years.

  • September 17, 2018

    Warburg Pincus Offers $500M To Texas Oil And Gas Co.

    Midland, Texas-based oil and gas exploration and production company Tall City Exploration III LLC said on Monday that it has received a line of equity financing of up to $500 million from funds affiliated with private equity firm Warburg Pincus LLC.

Expert Analysis

  • How Delaware Courts Are Approaching Appraisal Valuation

    Michael O'Bryan

    The Delaware Supreme Court has eschewed bright-line tests for determining the value of a company in an appraisal. Two recent Delaware Chancery Court decisions illustrate the ways that the courts are determining appraisal valuation in light of this guidance, say Michael O'Bryan and James Beha of Morrison & Foerster LLP.

  • New Pass-Through Deduction Will Pass Over Many Lawyers

    Evan Morgan

    A few weeks ago, the IRS proposed regulations related to the Tax Cuts and Jobs Act's 20 percent deduction on qualified business income for pass-through entities. The guidance offers long-awaited clarity, but is mostly bad news for many law firms, says Evan Morgan of Kaufman Rossin PA.

  • The REIT Take-Private Process: Trends And Considerations

    Spencer Johnson

    Current market conditions have set the stage for a wave of real estate investment trust public-to-private transactions. While there is no one-size-fits-all process, attorneys with King & Spalding LLP look at some common ways these deals are being initiated and negotiated today.

  • How Reckless Judicial Impeachments Threaten Rule Of Law

    Jan van Zyl Smit

    Judicial impeachment fever seems to be spreading through the states, with West Virginia legislators recently voting to remove their state's entire Supreme Court, and lawmakers in Pennsylvania and North Carolina threatening the same. These actions are a serious threat to judicial independence, says Jan van Zyl Smit of the Bingham Centre for the Rule of Law.

  • Series

    Judging A Book: Fogel Reviews 'Good Judgment'

    Judge Jeremy Fogel

    In this time of partisan conflict over judicial selection, a new book by Canadian jurist Robert J. Sharpe —​ "Good Judgment" — represents a refreshing, deeply thoughtful departure from binary arguments about how and why judges make decisions, says U.S. District Judge Jeremy Fogel, director of the Federal Judicial Center.

  • A Look At SEC Enforcement Against Unregistered Finders

    Joe Edmondson

    In recent years, there has been an increased interest from the U.S. Securities and Exchange Commission in enforcing Section 15(a)(1) against unregistered finders and other solicitors in private placement offerings. These violations are easy to prove, especially since no culpable state of mind is required, says Joe Edmondson of Foley & Lardner LLP.

  • 10 Ways To Prevent E-Discovery Woes

    Debbie Reynolds

    E-discovery is not easy, but employing these 10 strategies may help minimize future headaches, say Debbie Reynolds and Daryl Gardner of EimerStahl Discovery Solutions LLC.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

    Simon Bushell

    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • 4 Key Components To New Firm Partnership Agreements

    Russell Shinsky

    A well-drafted partnership agreement protects a law firm's founders, establishes a process for new and outgoing partners, and sets forth guidelines for navigating conflict along the way. Startup firms can begin with something less complex, but there are important elements that every agreement should include, says Russell Shinsky of Anchin Block & Anchin LLP.

  • Delaware Decision Clarifies MFW's Ab Initio Requirement

    Gail Weinstein

    The Delaware Chancery Court's ruling last month in Olenik v. Lodzinski is notable for providing a substantial discussion of the difference between “negotiations” and “preliminary discussions” for determining whether a merger meets MFW's “ab initio requirement” and qualifies for review under the deferential business judgment rule standard, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.