Private Equity

  • July 3, 2019

    Brookfield Commits $500M To KKR Solar Energy Joint Venture

    Brookfield Renewable Partners, led by CMS, said Wednesday it will commit roughly $500 million to form a joint venture with KKR, where the companies will split ownership of solar power plant developer and operator X-Elio.

  • July 3, 2019

    3 Biggest Energy M&A Trends In 2019: Midyear Report

    A blockbuster tie-up between Occidental Petroleum Corp. and Anadarko Petroleum Corp. overshadows a tough year for upstream oil and gas dealmaking so far, while midstream and renewable energy markets remain frothy. Here are three energy M&A trends that have stood out to attorneys in the first half of 2019.

  • July 3, 2019

    Taxation With Representation: Sidley, Simpson, Skadden

    In this week’s Taxation with Representation, Brookfield Infrastructure and GIC buy Genesee & Wyoming for $8.4 billion, Applied Materials purchases Kokusai Electric for $2.2 billion, Performance Food Group snaps up Reinhart Foodservice for $1.7 billion, and GIC and Equinix form a $1 billion data center joint venture.

  • July 3, 2019

    Herbert Smith Guides £1.4B Student Housing Deal

    U.K.-based Unite Group, with help from Herbert Smith Freehills, has agreed to buy student housing business Liberty Living from Canada Pension Plan Investment Board for roughly £1.4 billion ($1.7 billion), the companies said Wednesday.

  • July 2, 2019

    2 Firms Grab Spotlight In Scorching June For IPOs

    Two law firms grabbed the lion’s share of initial public offerings activity in June, a vibrant month that saw 25 companies go public and raise $6.5 billion, concluding the strongest quarter in four years while a robust pipeline awaits the second half of 2019.

  • July 2, 2019

    Cooley Hid Conflict While Helping Launch Company, Suit Says

    Attorneys for Cooley LLP failed to tell a New Jersey chemist that the firm had previously worked with his partner, then represented the partner's interests at the expense of the chemist's while they launched a new company, according to a lawsuit filed Monday in Massachusetts state court. 

  • July 2, 2019

    Deals Rumor Mill: AB InBev, Deutsche Bank, Majestic Wine

    AB InBev wants to raise as much as $9.8 billion in an initial public offering of its Asia-Pacific unit, Deutsche Bank is mulling shedding some of its equities unit, and Fortress Investment Group is close to inking a deal to buy Majestic Wine’s stores.

  • July 2, 2019

    Blockchain Biz Accused Of Inflating Token Value In $3M Sale

    A blockchain company's unfounded hype and conduct artificially inflated its token value to raise close to $3 million in a token sale, only to see its value plummet by 90% about a month later, a cryptocurrency investment fund told a New York federal court.

  • July 2, 2019

    Inovia Leads $25M Fundraise For Health Tech Biz AlayaCare

    AlayaCare, a Canadian provider of health care software, on Tuesday said investors led by Inovia Capital poured CA$33 million ($25.1 million) through an equity fundraise, while also acquiring stock from early investors in the business.

  • July 2, 2019

    Davis Polk Assists On RoundTable's $700M Health Care Fund

    RoundTable Healthcare Partners, a Lake Forest, Illinois-based private equity firm focused exclusively on health care investments, said Tuesday it has wrapped up its fifth equity fund after securing $700 million from limited partners, with help from Davis Polk.

  • July 1, 2019

    Pharmacy, PE Fund Near Deal To End Feds' FCA Kickback Suit

    A compounding pharmacy and its private equity fund owner told a Florida federal court Monday that they're close to a settlement with the government that would bring a False Claims Act lawsuit over an alleged $70 million kickback scheme to a close.

  • July 1, 2019

    5 Companies File $825M In IPOs, Setting Up July Flurry

    Five companies — a venture-backed health care platform, a property and casualty insurer and three blank check companies — filed with the U.S. Securities and Exchange Commission late Friday seeking to raise $825 million in total, setting the stage for a busy, late July.

  • July 1, 2019

    Orchids Paper Gets Court OK For $207M Ch. 11 Sale

    A Delaware bankruptcy judge on Monday gave her nod to the $207 million sale of Orchids Paper Products Co. to a multinational paper and packaging company, with the stalking horse bidder at the center of challenges from unsecured bidders losing out at a lengthy auction last week.

  • July 1, 2019

    Pillsbury Adds Ex-Willkie M&A Vet With London Roots

    Pillsbury Winthrop Shaw Pittman LLP has added a longtime corporate law practitioner who helped build out Willkie Farr & Gallagher LLP's London and Houston offices as a partner in its New York City office, with plans to move him eventually to its Miami office, the firm announced Monday.

  • July 1, 2019

    Real Estate Rumors: KKR, Isaac Abraham, Blackstone

    KKR has reportedly loaned $340 million for a Chicago apartment tower project, an Isaac Abraham venture is said to have dropped $36.5 million on two Brooklyn apartment buildings, and Blackstone has reportedly bought three Florida hotels for $43.3 million.

  • July 1, 2019

    2 Firms Steer Singapore Sovereign Fund's $1B Data Center JV

    Singapore’s sovereign wealth fund and California-based data center operator Equinix said Monday they have formed a $1 billion joint venture, guided by Kirkland & Ellis LLP and Baker McKenzie, to develop and operate six hyperscale data centers throughout Europe.

  • July 1, 2019

    Applied Materials Taps Hogan, Cleary For $2.2B Kokusai Buy

    Applied Materials Inc., working with Hogan Lovells and Cleary Gottlieb, said Monday that it has agreed to buy fellow semiconductor equipment maker Kokusai Electric Corp. from private equity firm KKR & Co. LP for $2.2 billion.

  • July 1, 2019

    13 Firms Shape $8.4B Deal For Rail Service Provider G&W

    Brookfield Asset Management’s publicly traded infrastructure arm is teaming up with Singapore sovereign wealth fund GIC to buy global rail service provider Genesee & Wyoming Inc. for roughly $8.4 billion, including debt, the companies said Monday, in a deal steered by 13 law firms.

  • July 1, 2019

    What To Know About PE Funds' Subscription Credit Facilities

    Short-term loans designed to bridge the gap when funds need more capital for investment have gained traction, but attorneys must get up to speed on the new ways private equity players are looking to use them.

  • June 28, 2019

    High Court Census Ruling Could Escalate Rule Challenges

    When a slim U.S. Supreme Court majority blocked the Trump administration from adding a citizenship question to the census because the government hadn't been forthcoming, the justices gave litigants an irresistible precedent to cite in future policy fights with federal agencies, experts said.

  • June 28, 2019

    Conservative Justices Cross Over To Create Unusual Lineups

    Members of the conservative majority on the U.S. Supreme Court had some surprises for court watchers this term, with one of the newer — and generally most conservative — justices becoming a particularly strange bedfellow to liberals.

  • June 28, 2019

    The Sharpest Dissents Of The Supreme Court Term

    The dozens of dissents the U.S. Supreme Court issued this term outpaced those in the prior term, and their tone is growing harsher as justices vie for control of a court that is still reeling from the retirement of swing Justice Anthony Kennedy.

  • June 28, 2019

    First Ex-Abraaj Group Exec Pleads Guilty In Fraud Suit

    A former managing partner for Abraaj Group on Friday pled guilty in New York federal court to claims arising out of the collapse of the private equity giant, agreeing to cooperate with prosecutors in the criminal proceeding against several firm executives.

  • June 28, 2019

    Don't Miss It: Kirkland, WilmerHale Lead Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days, including ones that were helmed by Kirkland and WilmerHale. Here, Law360 recaps the ones you might have missed.

  • June 28, 2019

    Deals Rumor Mill: Morgan Stanley, Dr. Martens, BASF

    Morgan Stanley is likely going to earn regulators’ approval of its move to take control of its Chinese securities joint venture, Dr. Martens’ private equity owner is considering options including an initial public offering, and Standard Industries is one of the companies gunning for BASF’s construction chemicals unit.

Expert Analysis

  • Activist Investors And The Evolving Role Of Directors

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    Recent developments between Arconic and activist investor Elliott exemplify the need for directors to be more informed and involved on the day-to-day operations of a company — and less reliant on, and more skeptical of, management, say Morton Pierce and Michelle Rutta of White & Case.

  • To Guard Against Waiving Privilege, Don't CC The Boss

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    Argos Holdings v. Wilmington Trust, a recent New York federal court opinion, cautions that attorneys and companies should not simply assume that privileged communications may be shared with a company’s owner or affiliates without waiving attorney-client privilege, even when the company’s and the owner’s interests are completely aligned, say attorneys at Katten Muchin.

  • Getting Out Of Legal Project Management Debt

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    If a client does not demand the application of project management techniques at the start of a matter, or a law firm does not routinely apply them, it is highly likely that additional, avoidable work — legal project management debt — will materialize throughout the matter, says Anthony Widdop of Shearman & Sterling.

  • 6 Ways To Keep Your Jury From Zoning Out

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    Science suggests that at least some jurors pay attention to less than 65% of the evidence during a trial due to "task-unrelated thoughts," but there are steps attorneys can take to present information in a more engaging, cognition-friendly fashion, say Dennis Stolle and Dennis Devine of Barnes & Thornburg.

  • 5 Myths In Legal Crisis Communications

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    Having worked at a boutique law firm, a crisis communications agency and in BigLaw, I have identified a number of common misconceptions across these disparate business models when it comes to crisis and litigation communications, says Robert Gemmill of Hogan Lovells.

  • How Del. High Court Sees Discussion Vs. Negotiation In M&A

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    Although there is still no bright-line test, last month's Delaware Supreme Court decision in Olenik v. Lodzinski clarified the difference between “preliminary discussions” and “negotiations” for purposes of the requirement set forth in the 2014 case Kahn v. M&F Worldwide, say attorneys at Fried Frank.

  • An Overview Of The Debate Over Litigation Finance Disclosure

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    In light of a New York federal court's recent decision in Benitez v. Lopez, which joins a growing body of case law denying forced disclosure of commercial litigation finance, Stephanie Spangler of Norris McLaughlin and Dai Wai Chin Feman of Parabellum Capital break down the arguments commonly raised for and against disclosure.

  • Key Tax Issues In Rollover Equity Transactions: Part 2

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    In the final installment of this two-part series about tax issues in rollover equity transactions, Scott Dolson of Frost Brown Todd tackles tax and net income allocation provisions in LLC operating agreements, when equity rollovers are technically compensation, and the potential tax consequences of rolling over equity-like bonus rights.

  • Key Tax Issues In Rollover Equity Transactions: Part 1

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    Target company equity owners, investment bankers and private equity firms navigating the rollover equity aspects of a typical M&A transaction need to consider the key factors that affect how participants will be taxed, whether structuring a taxable or a tax-free rollover, says Scott Dolson of Frost Brown Todd.

  • How To Identify And Deal With Narcissists In Law

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    Given that a large swath of the legal profession may display some narcissistic tendencies, it is important for lawyers to know how to address the narcissist in the room — and it may be you, says Jennifer Gibbs of Zelle.

  • Q&A

    A Chat With Cleary Chief Talent Officer Hy Pomerance

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    In this monthly series, legal recruiting experts from Major Lindsey & Africa interview management from top law firms about the increasingly competitive business environment. Here, Amanda Brady and Dustin Laws talk with Hy Pomerance, chief talent officer of Cleary.

  • What SEC Exam Trends Mean For Asset Managers

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    Recently released statistics show that the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations has been identifying fewer deficiencies and making fewer enforcement referrals, but industry players should not take these numbers as a reason to become complacent, say attorneys at Debevoise & Plimpton.

  • Rebuttal

    Forced Arbitration Is A Far Worse 'Product' Than Jury Trials

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    Jury trials are not dying because arbitration is a “better product,” as alleged in a recent Law360 guest article, but because corporations have rigged the system through forced arbitration to ensure they cannot be held accountable before a judge or jury, say attorneys at Hagens Berman.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.

  • New Treasury Proposal May Help Investors Get To Land Of OZ

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    There is cause for optimism that the proposed opportunity zone regulations released by the U.S. Department of the Treasury on April 17 will reduce investor uncertainty, allowing more capital to flow into qualified opportunity zones, say Lisa Zarlenga and John Cobb of Steptoe & Johnson.

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