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Private Equity

  • December 7, 2018

    Don't Miss It: Latham, Hogan Lovells Lead Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Latham & Watkins and Hogan Lovells. Here, Law360 recaps the ones you might have missed.

  • December 7, 2018

    Data-Driven Lawyer: Morgan Lewis' J. Kyle Poe

    Morgan Lewis' J. Kyle Poe, a self-proclaimed "elder millennial," created a client management platform to streamline the firm's work in asbestos litigation that is now used across practice areas, making the firm's business more efficient and upping its ability to attract clients through innovative fee arrangements, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 7, 2018

    Moderna Leads IPO Pair Raising $735M

    Clinical-stage biotechnology company Moderna late Thursday said it raised more than $604 million in an initial public offering touted as the largest biotech IPO ever, alongside another offering that reaped roughly $131 million for cancer and autoimmune disorder-focused Synthorx.

  • December 7, 2018

    KKR REIT Loans $267M For California, New York Properties

    KKR & Co. Inc.'s real estate investment trust lending arm has loaned $266.5 million for a pair or multifamily properties, one in California and a second in New York, according to a KKR announcement Thursday.

  • December 7, 2018

    MVP: Simpson Thacher's Brian Stadler

    Brian Stadler, a partner with Simpson Thacher & Bartlett LLP, has spent the past year guiding longtime clients like Blackstone Group LP to multiple multibillion-dollar deals, including a handful of the largest private equity transactions of the year, earning him a spot on Law360’s list of 2018 Private Equity MVPs.

  • December 7, 2018

    Baring Invests $905M To Turn Around, Buy Japan’s Pioneer

    Baring Private Equity Asia will make a 102 billion Japanese yen ($904.9 million) investment in Pioneer Corp., with the Japanese electronics giant saying Friday the funds will be used to get the company back on “sound operational footing” and ultimately take the company private.

  • December 6, 2018

    Deals Rumor Mill: BYD, Travelport, Amer Sports

    BYD Co Ltd. is reportedly planning on taking its battery unit public by 2022, Elliott Management and Siris Capital Group are close to a deal to snap up Travelport Worldwide, and a group vying to take over Finnish sporting goods company Amer Sports Oyj is close to a deal.

  • December 6, 2018

    Energy Co. Fights PE Firm's Bid To Nix $100M Oil Asset Spat

    Gravitas Resources Corp. has asked a Texas appeals court to let it move forward with a claim for more than $100 million against a private equity firm it claims used confidential information about a 40,000-acre Utah oil and gas property to poach its opportunity to buy the energy assets.

  • December 6, 2018

    Ridgeview Capital Founder To Cop To Sham Trade Scheme

    The founder of private equity firm Ridgeview Capital Partners LLC has agreed to plead guilty to securities fraud and aiding and abetting the same after placing buy and sell orders to create an illusion of active trading, according to a filing in Massachusetts federal court Wednesday.

  • December 6, 2018

    Axis Needn't Cover Patriarch In SEC Probe, 2nd Circ. Affirms

    The Second Circuit on Thursday affirmed that Axis Insurance Co. doesn't owe Lynn Tilton's Patriarch Partners LLC $5 million to cover the costs of a U.S. Securities and Exchange Commission investigation and enforcement action, saying coverage is barred because Patriarch was aware the SEC had the firm in its crosshairs before the Axis policy went into effect.

  • December 6, 2018

    Hunton Andrews Steers Cross River's $100M KKR-Led Round

    Fintech-focused Cross River Bank said Thursday KKR & Co. LP led a recent funding round that brought in $100 million, with Hunton Andrews Kurth LLP guiding the New Jersey-chartered bank.

  • December 6, 2018

    Data-Driven Lawyer: Ogletree's Evan Moses

    Ogletree's Evan Moses uses unconventional strategies to boost the firepower of his class action practice, including a homegrown Monte Carlo algorithm, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 6, 2018

    MVP: Paul Weiss' Marco Masotti

    Paul Weiss Rifkind Wharton & Garrison LLP’s Marco Masotti skillfully guided Apollo Global Management to the close of the largest private equity fund ever raised and steered middle market and top-tier firms alike in closing multibillion dollar fundraising efforts of their own, earning him a spot as one of Law360’s Private Equity MVPs.

  • December 5, 2018

    Baker McKenzie Botched Bid To Reclaim Russian Mine: Suit

    Baker McKenzie fumbled a U.K. private equity firm's attempt to reclaim a coal mine that was illegally transferred a family close to a Russian governor and failed to mention that having well-connected clients would compromise the firm's best interest, a suit filed in Illinois state court claims.

  • December 5, 2018

    Deals Rumor Mill: Blackstone, Mogu, Petrobras

    Blackstone is reportedly getting ready to float health care and retirement benefits services provider Alight Solutions, Mogu is set to raise roughly $67 million when it goes public in the United States, and Brazilian state-owned oil giant Petrobras could be forced by the nation’s antitrust enforcer to offload refineries.

  • December 5, 2018

    Ares Closes Latest Real Estate Fund With $1 Billion

    Asset manager Ares Management Corp. has closed Ares U.S. Real Estate Fund IX with about $1.04 billion in commitments that will be used to target investments in multifamily, industrial and office properties located across the U.S., the company said Wednesday.

  • December 5, 2018

    PE-Backed Hospital Operator Ardent Health Files $100M IPO

    Ardent Health Partners LLC, a Tennessee-based hospital chain backed by a private equity and venture capital firm affiliated with billionaire Sam Zell, filed an initial public offering Tuesday that is preliminarily estimated to raise $100 million but could exceed that total.

  • December 5, 2018

    AfricInvest Closes 10-Year North African Fund At €194M

    Pan-African private equity firm AfricInvest on Wednesday said its 10-year North African fund hit its final close at €194 million ($220.24 million) after investors including the African Development Bank participated in the fundraising.

  • December 5, 2018

    Data-Driven Lawyer: Kilpatrick Townsend's Kate Gaudry

    Kilpatrick Townsend’s Kate Gaudry has used data analytics to supercharge her patent prosecution practice, uncover winning strategies for portfolio management and expose a secretive U.S. Patent and Trademark Office program, earning her a spot on our 2018 list of Data-Driven Lawyers.

  • December 5, 2018

    MVP: Latham & Watkins' David Dantzic

    David Dantzic, a Washington, D.C.-based partner at Latham & Watkins LLP, has helped steer private equity giant The Carlyle Group through multibillion-dollar deals, all while working to address an affordable housing crisis in the nation’s capital, landing him a spot as one of Law360’s Private Equity MVPs.

Expert Analysis

  • 8 Operating Agreement Tips For Funds Seeking Financing

    Kris Henman

    Private equity and venture capital investment funds are increasingly interested in entering into credit facilities, but a fund's limited partnership or operating agreement must be drafted to satisfy the lender’s diligence requirements. Attorneys with Troutman Sanders LLP look at the clauses that are typically flagged by lenders' counsel.

  • NY Tax Minutes: October

    Timothy Noonan

    This month in NY Tax Minutes, Timothy Noonan and K. Craig Reilly of Hodgson Russ LLP discuss a new coalition fighting the SALT deduction cap, highlight a $30 million settlement in a tax whistleblower action against a hedge fund manager and review the draft amendments to the business corporation franchise tax.

  • Tips For Drafting M&A Agreements After Akorn

    Gail Weinstein

    The Delaware Chancery Court's recent decision in Akorn v. Fresenius has been widely reported because the court, for the first time, found that a target company had suffered a “material adverse effect.” But the 246-page opinion is also a primer on how the court may interpret numerous standard provisions in merger agreements and in corporate contracts generally, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • An In-Depth Guide To The Opportunity Zone Guidance: Part 1

    Marc Schultz

    On Oct. 19, the U.S. Department of the Treasury released proposed regulations, a related revenue ruling and Form 8996 pertaining to the new opportunity zone program. In this two-part article, Marc Schultz of Snell & Wilmer LLP analyzes material portions of this highly anticipated guidance and highlights where guidance is still necessary.

  • Protecting Law Firm Talent At Both Ends

    Susan Blakely

    By 2030, it is possible that 75 percent of lawyers practicing in the U.S. will be millennials. A broadened focus on retention and advancement of all young lawyers is therefore a logical step forward but it fails to address another major retention issue that law firms should explore, says Susan Smith Blakely of LegalPerspectives LLC.

  • Q&A

    Wendy Olson Talks Twin Falls, Tribes, Private Practice

    Wendy Olson

    Former U.S. Attorney for the District of Idaho Wendy Olson discusses her decades of experience prosecuting white collar crimes and civil rights violations, her work and challenges as U.S. attorney, and her move to private practice.

  • Prospects For Tax Policy In A Divided Post-Election Congress

    Evan Migdail

    The outcome of next week's election remains uncertain, but it is possible to predict some of the policy changes and legislative initiatives likely to arise during lame duck and 116th congressional sessions if Democrats regain a majority in the House of Representatives, say Evan Migdail and Melissa Gierach at DLA Piper LLP.

  • Series

    Judging A Book: Brown Reviews 'Dangerous Leaders'

    Judge Nannette Jolivette Brown

    Anthony Thompson’s "Dangerous Leaders: How and Why Lawyers Must Be Taught to Lead" explores the conflict many lawyers face when charged with the responsibility of leadership. The book is an excellent read for all lawyers, says U.S. District Chief Judge Nannette Jolivette Brown of the Eastern District of Louisiana.

  • Breaking The Rules: 3 Ways To 'Lead' A Direct Examination

    Matthew Menchel

    Trial lawyers are frequently taught that they should appear invisible during direct examination — that their job is merely to prompt the witness to start speaking. But the most powerful direct examinations are the ones in which the examiner, not the witness, is controlling the pace, say attorneys with Kobre & Kim LLP.

  • Utilities' Build-Transfer Deals Spur Renewable Projects

    Sean Shimamoto

    Build-transfer agreements — where an electric utility hires a third party to develop and construct a renewable energy project, then transfer ownership to the utility — can create opportunities and challenges for developers and utilities. Some common themes have emerged from recent transactions, say Sean Shimamoto and Frank Shaw of Skadden Arps Slate Meagher & Flom LLP.