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Private Equity

  • May 14, 2018

    Jevic Workers Say Supreme Court Ruling Bars Ch. 11 Deal

    Attorneys for workers whose bankruptcy appeal led to a U.S. Supreme Court ruling last year that narrowed the use of Chapter 11 structured settlement dismissals told a Delaware judge Monday the high court ruling nullified a deal that company lenders now want to reassert.

  • May 14, 2018

    NY Judge Urges Tilton Deposition, But Won't Sanction Her

    A New York state judge said Monday that she wouldn't tolerate any more delays in the deposition of flamboyant private equity investor Lynn Tilton and other witnesses in a $45 million suit brought against her firm Patriarch Partners LLC by a German bank, but said the situation wasn't so serious as to merit sanctions.

  • May 14, 2018

    Deals Rumor Mill: EDP, ConocoPhillips, NXP

    EDP - Energias de Portugal plans on snubbing China Three Gorges Corp.’s €9.1 billion ($10.9 billion) takeover offer, ConocoPhillips is getting ready to sell its North Sea oilfields, and regulators in China have reignited their probe of Qualcomm’s bid to buy NXP Semiconductors.

  • May 14, 2018

    Southeastern Grocers' $1.3B Ch. 11 Plan Gets Nod In Del.

    Southeastern Grocers LLC secured court approval on Monday in Delaware for its more than $1.3 billion Chapter 11 reorganization plan, which among other features will swap $522 million in unsecured note debt for equity and put the Florida-headquartered business under new control.

  • May 14, 2018

    Fintech Co. GreenSky Tops 3 IPO Launches Totaling $951M

    Financial technology startup GreenSky Inc. launched an initial public offering on Monday that is estimated to raise $750 million, joined by two biotechnology firms seeking to raise an additional $201 million, adding to a growing number of deals set to price before Memorial Day.

  • May 14, 2018

    Security Cam Maker Arecont Opens Del. Ch. 11, Plans Sale

    California surveillance-camera maker Arecont Vision Holdings LLC filed for Chapter 11 protection in Delaware on Monday, saying it is in the process of finalizing an asset purchase agreement.

  • May 14, 2018

    How Attys Can Capitalize On The ‘Funds Of One’ Craze In PE

    Private equity limited partners have shown increasing interest in a form of nontraditional investment vehicles known as separately managed accounts, or funds of one, meaning attorneys with expertise in the intricacies that come with negotiating and crafting such agreements will be in high demand.

  • May 14, 2018

    Capital One Provides $420M Credit Line To PennantPark Unit

    Capital One has agreed to provide a $420 million line of credit to a unit of PennantPark Floating Rate Capital Ltd., a business development firm that mainly invests in U.S. middle market private companies and sometimes participates in equity investments, the companies said on Monday.

  • May 14, 2018

    KKR Injects $175M More Into Loan Purchaser Toorak

    KKR & Co. LP has agreed to plug an additional $175 million into Toorak Capital Partners, a U.S.- and U.K.-focused loan purchasing program and platform the private equity giant has been an investor in since 2016, the companies said Monday.

  • May 11, 2018

    SEC's Peirce Slams 'Broken Windows' Enforcement Era

    U.S. Securities and Exchange Commission member Hester Peirce on Friday delivered a sharp rebuke of her agency’s past enforcement practices, particularly the “broken windows” approach of punishing small infractions, as she called on the regulator to police the markets with a lighter and more "calibrated" touch.

  • May 11, 2018

    Tax Automation Co., Music Streamer File IPOs Totaling $265M

    A private equity-backed tax automation company and a Chinese music streamer filed initial public offerings Friday preliminarily intended to raise a combined $265 million, adding to the near-term pipeline of IPOs.

  • May 11, 2018

    Deals Rumor Mill: Carolina Panthers, Mubadala, Ant Financial

    The NFL’s Carolina Panthers could reportedly be sold to billionaire David Tepper, Emirati sovereign wealth fund Mubadala is having a hard time selling a Swiss private bank, and China’s Ant Financial may secure $10 billion in funding in the next few days.

  • May 11, 2018

    Silver Lake Unit Inks $3B Deal For UK Property Portal Co.

    A unit of funds managed by Silver Lake agreed to take the United Kingdom's ZPG private in a deal that values all of the online property portal owner's shares at roughly £2.2 billion ($3 billion), the companies said in a filing on the London Stock Exchange on Friday.

  • May 11, 2018

    Scottrade Rips Mass. Official's Bid To Remand Fiduciary Row

    Attorneys for Scottrade Inc. blasted Massachusetts’ top securities official Friday in opposing a bid to litigate an enforcement action at the state level, accusing him of carrying out a personal vendetta of sorts to enforce the U.S. Department of Labor’s upended fiduciary rule for retirement account advisers.

  • May 11, 2018

    US Trustee Slams Zohar Funds' Call To Seal Ch. 11 Settlement

    The U.S. Trustee on Friday objected to a motion by the Zohar Funds asking the Delaware Bankruptcy Court to seal part of their settlement with creditors and insurers, saying they hadn’t proven the information is confidential.

  • May 11, 2018

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Gibson Dunn and Baker Botts. Here, Law360 recaps the ones you might have missed.

  • May 11, 2018

    Real Estate Rumors: John Hancock, Capstone Equities, AEW

    John Hancock has reportedly loaned $105 million for a Los Angeles office building, a venture including Capstone Equities is said to have scored a $130 million loan for a recent New York hotel purchase and an AEW Capital venture has reportedly picked up a South Florida development site for $26 million.

  • May 11, 2018

    How Attorneys Can Help PE Clients Be SEC Compliant

    A fine of more than $778,000 recently levied by the U.S. Securities and Exchange Commission against private equity firm Welsh Carson Anderson & Stowe for infractions related to group purchasing fees shows the PE industry is still on the regulator’s radar, meaning attorneys must be vigilant about helping clients stay compliant.

  • May 10, 2018

    Akerman Adds M&A, PE Deals Pro From Fox Rothschild

    Akerman LLP has grown the ranks of its corporate practice with its latest hire, picking up a former Fox Rothschild LLP partner and 30-year legal veteran specializing in various mergers and acquisitions and private equity matters.

  • May 10, 2018

    Deals Rumor Mill: Odebrecht, Volvo, Minto

    Creditors are reportedly pushing Odebrecht to sell its commuter rail unit, Volvo Cars’ owner has hired banks to guide an initial public offering and Minto Group wants to raise roughly CA$200 million in an IPO.

Expert Analysis

  • Roundup

    Dissolving Practice

    Dissolving Practice

    In this series, experts discuss the unique aspects of closing a law firm, and some common symptoms of dysfunctionality in a firm that can be repaired before it's too late.

  • Series

    Dissolving Practice: How To Fix A Dysfunctional Law Firm

    Larry Richard

    I am often asked, “When there are one or more partner departures, what can a firm do to prevent this from escalating to a catastrophic level?” The short answer is “nothing.” Law firms need to adopt culture-strengthening lifestyles to prevent defections from occurring in the first place, says Larry Richard of LawyerBrain LLC.

  • Series

    Dissolving Practice: Partner Agreement Clauses That Can Help

    ​​​​​Leslie Corwin

    Given the competing public policies of protecting clients’ right to counsel of their choice, lawyer mobility, and the fiduciary duty partners owe to a dissolved firm, it behooves law firms to carefully review their partnership agreements to make sure they adequately spell out what happens in the unfortunate event that the law firm chooses to wind down, say ​​​​​Leslie Corwin and Rachel Sims of Blank Rome LLP.

  • Series

    Dissolving Practice: The Unfinished Business Doctrine

    Thomas Rutledge

    There has been, of late, significant dispute as to the application of the unfinished business doctrine, particularly with respect to hourly rate matters of now-dissolved large law firms. And the California Supreme Court’s recent decision in Heller Ehrman, like others as to similar points, is highly questionable, says Thomas Rutledge of Stoll Keenon Ogden PLLC.

  • The Impact Of Tax Reform On Film, TV And Print Media: Part 1

    Michele Alexander

    While the media has been reporting on tax reform, tax reform will impact the media industry itself. Reform's effects are numerous, from a reduction in tax rates and new deductions to the loss of important deductions and new international regimes that have kept tax experts waiting in anticipation of further guidance, say attorneys Michele Alexander and Ryan Davis of Bracewell LLP.

  • Standardized Term Sheets May Not Protect Your Interests

    Joshua Fox

    A quick internet search yields multiple versions of documents typically used for early-stage private financings. However, these standardized forms may inadvertently gloss over or neglect issues that can be critical to a startup’s long-term success, says Joshua Fox of WilmerHale.

  • New SEC Case Bucks The Valuation Trend

    Jesse Morton

    The U.S. Securities and Exchange Commission investigation into Deer Park Road Management’s alleged practice of undervaluing assets has many wondering why the investment manager would want to undervalue its assets. In fact, there are several incentives for a fund manager to do so, say Jesse Morton and Matt Rogers of Stout Risius Ross LLC.

  • Tax Reform’s Impact On Private Equity

    Sean Clancy

    The Tax Cuts and Jobs Act significantly changed income tax laws for individuals and business entities. Attorneys at Nixon Peabody LLP map out the provisions that will impact the private equity industry, including managers, investors and portfolio companies.

  • How Senate Bill Would Change Compliance For Midsize Banks

    Christopher Allen

    The U.S. Senate last month passed the Economic Growth, Regulatory Relief, and Consumer Protection Act, which makes modest reforms to the Dodd-Frank Act. Here, attorneys with Arnold & Porter look at the bill's notable provisions for community and midsized banks and the prospects for enactment.

  • Lower Middle Market Gets More Attractive After Tax Reform

    Cordero_Frank_454_PR.jpg

    When considered together with the new corporate tax rate and other applicable rules in the Tax Cuts and Jobs Act, the Section 1202 exemption may enable private equity firms focused on lower-middle-market deals to put more cash in partners’ pockets, says Frank Cordero of Akerman LLP.