Private Equity

  • September 14, 2021

    Jeb Bush-Led PE Shop Nabs $350M For Impact Investing Fund

    Finback Investment Partners, a private equity shop led by former Florida Gov. Jeb Bush that is focused on impact investments, said Tuesday it clinched its inaugural fund after raising $350 million, with plans to target areas like technology and health care.

  • September 14, 2021

    CD&R Inks Pensions Package With Morrisons Trustees

    A private equity firm bidding to buy Morrisons said Tuesday that it has reached a deal with the supermarket giant's pension schemes that will ensure they are among the "best-funded" in the country.

  • September 13, 2021

    7 Companies To Join September Blitz With IPOs Topping $2.8B

    Seven companies joined a robust initial public offerings pipeline on Monday, setting price ranges for new issuances that could exceed $2.8 billion, indicating that the IPO market should remain humming through at least the end of September.

  • September 13, 2021

    Forge Global To Go Public In $2B SPAC Deal

    Forge Global Inc., a digital marketplace for trading private shares, said Monday it will go public with a $2 billion valuation after merging with a special purpose acquisition company, in a deal guided by Goodwin Procter and Gibson Dunn.

  • September 13, 2021

    'Varsity Blues' Parents Blame 'Con Man' As 1st Trial Opens

    The first trial in the "Varsity Blues" college admissions case kicked off in a Boston federal courtroom Monday with jurors hearing dueling accounts about payments by parents that were either bribes to get their kids into college or innocent donations made at the behest of the "skilled con man" at the center of the scheme.

  • September 13, 2021

    Herbert Smith, White & Case Craft Certares' $353M Avia Deal

    Hospitality-focused private equity firm Certares Management LLC, led by Herbert Smith Freehills, will invest $353 million in White & Case client Avia Solutions Group, the aviation and tourism group said Monday as it looks to expand its services in areas like passenger and cargo aviation, crew training, ground handling and logistics.

  • September 13, 2021

    MVP: Fried Frank's Brian T. Mangino

    Fried Frank Harris Shriver & Jacobson LLP's Brian T. Mangino advised Humana Inc. numerous times throughout the pandemic, including during its purchase of the remaining 60% interest in Kindred at Home, a transaction with an enterprise value of $8.1 billion, earning him a spot among Law360's 2021 Private Equity MVPs.

  • September 13, 2021

    Robinhood Users Denied Class Cert. In Stock Halt Suit

    A Florida federal judge denied class certification to customers of stock-trading app Robinhood who say the company failed to inform customers of a trading halt on Hertz Corp. in March 2020, causing them to lose large sums of money.

  • September 13, 2021

    Recur Raises $50M To Bring NFTs To College Sports

    Nonfungible token platform Recur said Monday it raised $50 million in its first major funding round as it works to build a platform for NFTs linked to college sports.

  • September 13, 2021

    Law360's Glass Ceiling Report: What You Need To Know

    Law firms are facing renewed calls to step up their efforts on equity and inclusion. But when it comes to closing the gender gap, law firms still have a long way to go, our annual survey shows.

  • September 13, 2021

    Coinbase Seeks $1.5B From Investors For Possible M&A

    Coinbase said Monday it's raising $1.5 billion in notes to help it finance a potential investment in or acquisition of other companies, which comes as the cryptocurrency exchange recently went public about a litigation threat from the U.S. Securities and Exchange Commission.

  • September 13, 2021

    Payroll Startup Papaya Global Raises $250M In Series D

    Papaya Global announced Monday that it has raised $250 million in a fundraising round led by private equity and venture capital firm Insight Partners, bringing the payroll management startup's total valuation to $3.7 billion.

  • September 13, 2021

    Simpson, Paul Weiss Build TransUnion's $3.1B Neustar Buy

    Credit reporting giant TransUnion, led by Simpson Thacher, will buy Paul Weiss-advised advertising tech company Neustar from a group led by private equity firm Golden Gate Capital for roughly $3.1 billion, the companies said Monday, in a deal meant to fortify the buyer's marketing data and analytics capabilities.

  • September 10, 2021

    9 Firms Rep Quartet Of Blank-Check Cos. Raising $710M

    A quartet of blank-check companies focused on sectors such as fintech and health care technology began trading Friday after raising a combined $710 million in initial public offerings led by nine law firms.

  • September 10, 2021

    Didi Hit With Another Investor Suit Over $4.3B IPO

    Chinese ride-hailing giant Didi's initial public offering documents omitted that the company's apps weren't compliant with Beijing's privacy laws and regulations, another shareholder has alleged in a proposed securities class action filed in the Southern District of New York.

  • September 10, 2021

    KKR Sells Austin Campus For North Of $300M

    KKR has sold an Austin, Texas, office campus for more than $300 million, the private equity shop announced Friday.

  • September 10, 2021

    15 Firms To Guide IPOs Exceeding $3.4B As Activity Resumes

    Fifteen law firms are set to guide at least 11 initial public offerings that could exceed $3.4 billion in proceeds during the week of Sept. 13, marking the first burst in post-Labor Day IPO activity ahead of what is expected to be a busy autumn.

  • September 10, 2021

    Blackstone Abandons $5.7B Enterprise Deal For Soho China

    Blackstone Group is no longer going forward with its planned $5.7 billion enterprise value acquisition of Chinese real estate developer Soho China following a failure to satisfy pre-conditions associated with the deal, the companies said Friday.

  • September 10, 2021

    MVP: Simpson Thacher's Atif Azher

    Atif Azher led the Simpson Thatcher & Bartlett LLP team representing Dell Technologies in its spinoff of VMware Inc. and advised on multibillion-dollar special purpose acquisition company deals for serial acquirer True Wind Capital, earning a spot among Law360's 2021 Private Equity MVPs.

  • September 10, 2021

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen DLA Piper sue a private equity firm, U.K. pharmacy giant Boots facing a mass equal pay claim, and Quinn Emanuel Urquhart & Sullivan UK LLP targeted by a Russian billionaire. Here, Law360 looks at those and other new claims in the U.K.

  • September 10, 2021

    Don't Miss It: Kirkland, McDermott Rep Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Kirkland and McDermott. Here is a recap of ones that may have flown under the radar.

  • September 10, 2021

    Kirkland, Winston Build $1.3B PE Deal For Logistics Co. Echo

    Private equity firm The Jordan Co. LP will buy technology-enabled transportation management company Echo Global Logistics Inc. at an equity value of about $1.3 billion, the companies said Friday, in a transaction crafted by respective legal advisers Kirkland & Ellis and Winston & Strawn.

  • September 09, 2021

    FenXun Adds Senior Counsel To Capital Markets Team

    Chinese law firm FenXun Partners added a senior counsel from Tian Yuan Law Firm with cross-border equity and debt securities offerings expertise to its capital markets team in Beijing, the firm announced earlier this month.

  • September 09, 2021

    Robinhood Can't Get Out Of Revamped Data Breach Suit

    A California magistrate judge has again refused to ax a proposed class action brought by Robinhood customers who say their accounts were hacked, finding that they had adequately alleged claims under the state's novel privacy law, while giving them another chance to revise several other allegations. 

  • September 09, 2021

    Inside Box's Successful Campaign To Stave Off Starboard

    Stockholders of cloud content management provider Box "decisively" reelected the company's existing directors on Thursday, capping off a two-year saga and dealing activist investment firm Starboard Value a disappointing proxy contest loss.

Expert Analysis

  • Problems To Avoid When Forming Your 2nd Real Estate Fund

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    There are a number of considerations when moving from your first real estate fund to subsequent funds during post-pandemic growth, particularly if the aggregate regulatory assets under management of the funds exceed $110 million or if additional country jurisdictions will be involved, say Matt Ertman and Max Brunner at Allen Matkins.

  • Series

    Embracing ESG: Raytheon GC Talks Climate Change

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    Now that the climate crisis is seen as an existential threat, the stakes couldn't be higher — or the challenges more daunting — for the general counsel, who must enlist all parts of the company for support while providing both a legal and ethical road map on how to respond, says Frank Jimenez at Raytheon.

  • Mass. Ruling A Cautionary Tale For Attorneys Changing Firms

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    The Massachusetts high court's recent ruling in Governo v. Bergeron, that lawyers could be held liable for unfair competition with a former firm, highlights important considerations for departing attorneys soliciting clients to come with them, say Mariana Korsunsky and Gary Ronan at Goulston & Storrs.

  • How To Avert Media Narrative And Get A Fair High-Stakes Trial

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    Corporate defendants in bet-the-company litigation may face an uphill battle to a fair trial when the media paints an entire industry, and every entity within it, as a villain — but some strategic tools can help build a more constructive defense and counteract damaging outside spin, says Jessie Zeigler at Bass Berry.

  • Opinion

    State Courts' Stark Lack Of Diversity Demands Action

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    With state judiciaries lagging their federal counterparts in demographic and professional diversity, law firms, state bar associations and other stakeholders should help build a path for more people with diverse backgrounds to become state judges, say Janna Adelstein and Alicia Bannon at the Brennan Center for Justice.

  • Navigating New York Laws On Corporate Practice Of Medicine

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    As New York physicians increasingly turn to private equity firms in their search for additional revenue sources, they must be cautious about entering into fee arrangements with or ceding control to management companies, due to strong state laws against medical practices owned by nonpractitioners, says Steve Polyakov at Tarter Krinsky.

  • Giuliani Suspension Highlights Ethical Pitfalls For All Lawyers

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    Rudy Giuliani’s false public statements regarding the 2020 elections that resulted in his recent suspension from practicing law in New York may seem uncommonly flagrant, but the sanction underscores four ethics risks all attorneys should bear in mind, says Hilary Gerzhoy at Harris Wiltshire.

  • Voluntary CFIUS Filings May Limit Uncertain Outcomes

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    Attorneys at DLA Piper outline key considerations U.S. businesses should consider when deciding whether to voluntarily notify the Committee on Foreign Investment in the United States of transactions, in order to avoid unexpected governmental review and intervention.

  • Lordstown Shows How Projections Can Invite SPAC Litigation

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    The recent securities class action against Lordstown Motors, and recent U.S. Securities and Exchange Commission guidance, reveal how misleading projections may produce a perfect storm of securities litigation around newly public companies after a special purpose acquisition company merger, say Stephen Ascher and Jeremy Ershow at Jenner & Block.

  • Will SPAC Restatement Wave Trigger Shareholder Litigation?

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    Nearly 500 special purpose acquisition companies have made financial restatements after the U.S. Securities and Exchange Commission in April called on SPACs to reclassify certain warrants as liabilities, triggering at least one securities class action — against Virgin Galactic Holdings — and raising the question of whether further litigation will follow, say consultants at Cornerstone Research.

  • Navigating Inadvertent Attorney-Client Privilege Waivers

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    Spencer Fane’s Deena Duffy offers tips for identifying accidental privilege waivers based on local and federal rules, and for interpreting recent case law when such rules are unclear.

  • Attorneys Beware: Zoom Depositions Are Likely Inadmissible

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    As legal proceedings have moved online in light of the pandemic, lawyers may mistakenly believe that recorded Zoom video depositions can be entered as evidence, but without certain safeguards, the testimony is unlikely to be accepted by courts, says Phillip Zisook at Schoenberg Finkel.

  • How Global Markets Are Preparing For Potential SPAC Growth

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    As the rising popularity of special purpose acquisition companies extends beyond the U.S., attorneys at Morgan Lewis look at how governments in Asia and Europe are positioning themselves through regulatory shifts, and what market trends can be expected in the U.S.

  • Opinion

    NJ Fed. Court Should Ditch Litigation Funding Disclosure Plan

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    The District of New Jersey's wide-reaching proposal to require automatic disclosure of third-party litigation finance poses several problems for attorneys and litigants alike and should be nipped in the bud, say Sarah Williams and Marlon Becerra at Validity Finance.

  • How To Assess Price Volatility Changes In SPAC Class Actions

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    Adjusting for changing volatility over a special purpose acquisition company's life cycle, as well as changes in marketwide volatility, is crucial for proper evaluation of market efficiency, loss causation and damages claims in securities class actions, say Alok Khare and Erica Rose at FTI Consulting.

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