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Private Equity

  • May 24, 2018

    Fintech Startup GreenSky Prices Upsized $874M IPO

    GreenSky Inc., a private equity-backed financial technology company that arranges loans between merchants and consumers, raised $874 million in an upsized initial public offering that priced Thursday at the top of its range, advised by Troutman Sanders LLP.

  • May 24, 2018

    Nigerian Cement Biz Snags $850M In Financing From PE Firm

    Ibeto Cement Co. Ltd., a Nigerian cement company run by billionaire Dr. Cletus M. Ibeto, announced on Thursday that it has received $850 million worth of financing from private equity firm Milost Global Inc. and is setting in motion plans to become a publicly traded company in the U.S.

  • May 24, 2018

    Kirkland Guides LNK's $100M Investment In Dermatology Biz

    Private equity firm LNK Partners, with assistance from legal adviser Kirkland & Ellis LLP, has agreed to inject $100 million into Schweiger Dermatology Group to help the dermatology practice expand throughout the Northeast, according to a Thursday statement.

  • May 23, 2018

    Necco Nets $18.8M In Bankruptcy Sale To Spangler Candy

    The company that makes Necco Wafers has a new owner, according to an order in Massachusetts federal court Wednesday showing that Spangler Candy Co., the maker of Dum Dums lollipops, shelled out $18.8 million to buy its fellow candy maker out of bankruptcy.

  • May 23, 2018

    Fried Frank Atty Who Left For SEC Rejoins Firm As Partner

    Fried Frank Harris Shriver & Jacobson LLP will bolster its corporate practice with a former U.S. Securities and Exchange Commission senior counsel who once worked at the firm as an associate, the firm announced Tuesday.

  • May 23, 2018

    PE-Backed Evo Raises $224M After IPO Prices High

    Evo Payments Inc. raised $224 million after pricing its shares at the top end of a projected $14 to $16 range during the private equity-backed payment processor’s initial public offering of 14 million shares on the Nasdaq Stock Exchange Wednesday.

  • May 23, 2018

    Stinson To Enter Texas With Lackey Hershman Merger

    Stinson Leonard Street LLP will enter the Texas market June 1 through a merger with Dallas litigation boutique Lackey Hershman LLP, which represents clients in the private equity, health care, and banking and finance industries, among others, the firms announced Wednesday.

  • May 23, 2018

    Crestline Forms $300M Fund With Eye On Hotel Acquisitions

    Crestline Hotels & Resorts LLC, which manages hotels for publicly traded real estate investment trusts, private equity investors and single-asset owners and foundations, has launched a $300 million fund that will acquire hotels and invest in properties alongside strategic capital partners, according to a Wednesday statement.

  • May 23, 2018

    Deals Rumor Mill: Careem, Lowe’s, Barclays

    Dubai-based ride-hailing company Careem Networks is looking to raise $500 million, Pershing Square Capital Management has secured a nearly $1 billion stake in home improvement chain Lowe’s, and Barclays isn’t eyeing any potential mergers with its rivals.

  • May 23, 2018

    HgCapital, Intermediate Capital Team Up For IRIS Buyout

    HgCapital Trust PLC and Intermediate Capital Group announced Wednesday that they are partnering to make a significant investment in IRIS Software Group, which provides software and services to the U.K. accountancy, education and business markets, in a deal the companies say represents the largest U.K. private equity software buyout in history.

  • May 23, 2018

    McDermott Nabs Latham Atty For Investment Funds Team

    McDermott Will & Emery LLP has landed an attorney for its New York office from Latham & Watkins LLP who has experience in private equity fund formation matters in the energy industry and others, the firm announced recently.

  • May 22, 2018

    Candy Co. Necco Set For Ch. 11 Auction With 4 Bids In Hand

    Bankrupt candy manufacturer Necco is set to sell its line of sweets and other assets to one of four qualified bidders at a Chapter 11 auction scheduled to take place Wednesday in Boston, all but ensuring the estate nets at least $15 million from the deal.

  • May 22, 2018

    Covington Picks Up 2 Kirkland Partners To Lead PE Practice

    Covington & Burling LLP has hired a pair of partners from Kirkland & Ellis LLP experienced in handling mergers and acquisitions, leveraged buyouts and other transactions in industries including life sciences, media, technology, automotive, defense and hospitality to head up the firm’s private equity practice in New York, the firm said Tuesday.

  • May 22, 2018

    Physiotherapy Trust Claims Revived By Supreme Court Ruling

    Fraudulent transfer claims against the former controlling shareholders of Physiotherapy Holdings Inc. will be reinstated after a Delaware bankruptcy judge granted a motion for reconsideration Monday from the litigation trust created under the former debtor’s Chapter 11 plan.

  • May 22, 2018

    House Sends Dodd-Frank Banking Rule Rollback To Trump

    The U.S. House of Representatives on Tuesday passed a major rollback of Dodd-Frank rules, sending a package of financial industry changes that backers say cut costly and burdensome regulations to President Donald Trump, who has indicated his support for the measure.

  • May 22, 2018

    Emirates NBD Snaps Up DenizBank For $3.1B

    Banking giant Emirates NBD has inked a $3.1 billion deal to buy an almost complete stake in Turkish private bank DenizBank AS held by state-owned Sberbank of Russia, the banks said Tuesday.

  • May 22, 2018

    Australia’s Santos Shuts Down $10.8B Harbour Energy Bid

    Australian oil and gas company Santos Ltd. on Tuesday rejected a $10.8 billion takeover bid by private equity-owned Harbour Energy Ltd. and shut down any further discussions of a tie-up with the Houston-based firm, saying Santos is better off pursuing its existing strategy.

  • May 22, 2018

    Deals Rumor Mill: Ingram Micro, Thyssenkrupp, Fortress

    Multiple Chinese companies have interest in buying U.S. electronics distributor Ingram Micro, activist investor Elliott Management has been amassing a stake in Germany’s Thyssenkrupp with plans to oust the company’s current CEO, and Fortress Investment Group hopes to raise about $2 billion for its first direct lending fund.

  • May 22, 2018

    Kirkland & Ellis Adds MoFo Investment Funds Partner

    Kirkland & Ellis LLP said it has hired a Morrison & Foerster LLP partner who served as co-chairman of its private equity fund group and helped launch multiple multibillion-dollar investment funds.

  • May 22, 2018

    Wilson Sonsini Reps WeddingWire In $350M Permira Deal

    Wedding service marketplace WeddingWire Inc. said Tuesday a company backed by funds of global private equity firm Permira will pay $350 million to take a controlling stake in the business, with Wilson Sonsini Goodrich & Rosati PC guiding the seller.

Expert Analysis

  • Opinion

    We Need A Cybersecurity Framework For Law Firms

    Shaun Jamison

    In order to enable lawyers to best meet cybersecurity challenges, state bars should pass rules that adopt a cybersecurity framework to be developed by a national committee, says Shaun Jamison, associate dean of faculty and professor at Purdue University's Concord Law School.

  • Next Steps For BDCs As Long-Awaited Reforms Arrive

    Nicole Runyan

    Last week's omnibus spending legislation includes a provision that relaxes leverage and offering restrictions that many business development companies have been seeking over the last several years. Although the amendments are not automatically effective, BDCs and their sponsors should start considering a number of issues in the near term, say Nicole Runyan and Monica Shilling of Proskauer Rose LLP.

  • Keys To Corporate Social Responsibility Compliance: Part 3

    Michael Littenberg

    As the quantity and quality of corporate social responsibility disclosure increases, there is also movement toward greater comparability. Larger companies should benchmark their disclosures against global peers and evolving global standards, since over time, enhancements in foreign disclosure practices are likely to drive disclosures by many U.S. companies, say attorneys with Ropes & Gray LLP.

  • To Hold Or Not To Hold: S Corps And The Carried Interest Rule

    Elizabeth McGinley

    Without an amendment to what is widely believed to be a drafting error in the Tax Cuts and Jobs Act, there may be a strong argument that the new regulations implementing IRC Section 1061 are invalid. Taxpayers evaluating whether to hold carried interests through an S corporation need to assess whether the potential benefit justifies the time and expense of countering an IRS challenge, say Elizabeth McGinley and Steven Lorch of Bracewell LLP.

  • Equity Partnership Isn’t What It Used To Be

    Jeff Liebster

    To many young attorneys, becoming an equity partner shows a firm's long-term commitment, meaning job security and a voice in important firm matters. However, the industry has changed and nowadays it may not be better to enter a new firm as an equity partner, says Jeffrey Liebster of Major Lindsey & Africa.

  • Keys To Corporate Social Responsibility Compliance: Part 2

    Michael Littenberg

    Increasingly, corporate social responsibility must be on the radar screen of in-house counsel. Investors are paying more attention to environmental, social and governance issues, and a growing number of shareholder proposals on these subjects should be expected, say attorneys with Ropes & Gray LLP.

  • Series

    Judging A Book: Hardiman Reviews 'Without Precedent'

    Judge Thomas Hardiman

    In his new book, "Without Precedent: Chief Justice John Marshall and His Times," professor Joel Richard Paul ably explains more than a dozen of Marshall’s most significant opinions, which comes as no surprise​. ​What is a surprise — a pleasant one — is the book's readability, says Judge Thomas Hardiman of the Third Circuit.

  • Lessons In Negotiating Transaction Tax Deduction Provisions

    Scott Barshay

    The Delaware Chancery Court's opinion in LSVC v. Vestcom serves as a reminder of the potential high-value impact of pre- and post-closing tax provisions in private M&A, as well as their interaction with purchase price adjustment provisions, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Keys To Corporate Social Responsibility Compliance: Part 1

    Michael Littenberg

    2018 may be the year that corporate social responsibility compliance becomes a core duty of in-house legal departments. Not only have legal requirements proliferated in recent years, but new disclosure requirements and more regulation are on the horizon, say attorneys with Ropes & Gray LLP.

  • Top Tax Changes For Law Firms: What Lawyers Need To Know

    Evan Morgan

    For law firms structured as corporations, a lower maximum corporate tax rate and repeal of the corporate alternative minimum tax are good news. But many law firms are pass-through entities, so deduction limitations mean they'll see less benefit from the new tax law, says Evan Morgan of CPA and advisory firm Kaufman Rossin PA.