Private Equity

  • June 27, 2019

    Goodwin-Led BridgeBio Tops 3 Biotech IPOs Totaling $749M

    BridgeBio Pharma priced shares in a $348.5 million initial public offering steered by Goodwin Procter LLP, leading the way as three biotechnology firms hit the market Thursday after raising a combined $749 million.

  • June 27, 2019

    Grab Lands Another $300M Investment From Invesco

    Grab announced Thursday that it has landed a $300 million investment from Invesco Ltd., bringing the investment management company’s total funding in the Southeast Asian company primarily known for its ride-hailing services to $703 million.

  • June 27, 2019

    Orchids Creditors Want Limit On Houlihan Fees In Del. Ch. 11

    The unsecured creditors committee in Orchids Paper Products Co.'s Chapter 11 told a Delaware bankruptcy court on Thursday it might seek to claw back money paid out to Houlihan Lokey Capital Inc., if the investment bank ends up receiving much more than the committee's own lawyers.

  • June 27, 2019

    The Firms That Won Big At The Supreme Court

    Arguing one Supreme Court case is no mean feat, and only a handful of law firms tackled at least three during the latest high court term. Here’s a look at those high-profile battles, and which firms emerged victorious once the dust settled.

  • June 27, 2019

    Change Healthcare Prices $557M IPO Below Range

    Change Healthcare Inc., a private-equity backed provider of analytics tools to the health care industry, saw shares rise Thursday after the Simpson Thacher & Bartlett-led company priced a $557 million initial public offering below range.

  • June 27, 2019

    Deals Rumor Mill: DraftKings, Nissan, Blackstone

    DraftKings is reportedly close to snapping up SBTech, Nissan Motor Co. is in talks about managing Didi Chuxing’s ride-hailing services, and Blackstone is about to close its debut infrastructure fund at upward of $12 billion.

  • June 27, 2019

    2 Firms Steer Bracco's $450M Diagnostic Imaging Biz Buy

    Italy's Bracco Imaging SpA, a manufacturer of agents and tracers used in diagnostic imaging, said Thursday it will pay $450 million to take over molecular imaging diagnostics business Blue Earth Diagnostics, with Greenberg Traurig and the Santa Maria Law Firm steering the buyer.

  • June 27, 2019

    Scentre Sells Sydney Towers To Blackstone In $1.1B Deal

    Australia-based mall owner Scentre said Thursday it has agreed to sell its office towers in Sydney’s central business district to funds managed by private equity giant Blackstone for AU$1.52 billion ($1.1 billion).

  • June 27, 2019

    Alvarez Gets $44M In Fees In Toys R Us Ch. 11 Case

    Turnaround consultancy Alvarez & Marsal North America LLC got the green light from a Virginia bankruptcy court on Wednesday to take home $44 million in fees and expenses for its work on the multibillion-dollar Toys R Us Inc. Chapter 11 case.

  • June 27, 2019

    Kirkland Reps Warburg Pincus On $4.25B China, Asia Fund

    Warburg Pincus on Thursday said a new China and Southeast Asia-focused fund snapped up $4.25 billion in commitments as the Kirkland & Ellis LLP-led private equity giant looks to build off a $14.8 billion global fund that closed late last year.

  • June 26, 2019

    K&L Gates, Gibson Dunn Steer $700M Littlejohn Deal

    Private investment firm Littlejohn said Wednesday it will take on the distribution segment of aerospace and industrial company Kaman Corporation for $700 million in a deal steered by Gibson Dunn and K&L Gates.

  • June 26, 2019

    Chancery Criticizes GE's Total Redaction Of Merger Suit Docs

    A Delaware Chancery Court judge ruled Tuesday that documents from a re-opened case over General Electric Co.'s merger with Baker Hughes Inc. must become public and slammed GE for handing over "entirely blacked out" versions of the documents.

  • June 26, 2019

    Lionbridge Slams $300M Trade Secrets Suit As 'Frivolous'

    Translation company Lionbridge Technologies fired back at accusations that it had feigned interest in purchasing rival TransPerfect Global at a court-ordered auction just to lift the company's trade secrets, slamming the lawsuit as "frivolous" in Manhattan federal court on Wednesday.

  • June 26, 2019

    Medical Device Co. Gets Access To $20M In Bankruptcy Loans

    Durable medical device maker Joerns Healthcare LLC received court approval Wednesday in Delaware to access a quarter of an $80 million debtor-in-possession financing package to help fund its trip through bankruptcy and give it a cash cushion once it exits Chapter 11.

  • June 26, 2019

    Deals Rumor Mill: Magellan, HDFC Bank, Everest Medicines

    Centerbridge Partners is close to snapping up managed care company Magellan Health, HDFC Bank has tapped Morgan Stanley and Bank of America to lead its nonbank finance business’ initial public offering and CBC Group is considering taking Everest Medicines public.

  • June 26, 2019

    First Zohar Portfolio Entity Ch. 11 Sale To Net Up To $77M

    A Delaware judge on Wednesday approved the sale of equity interest in one of the portfolio properties of Lynn Tilton's bankrupt investment vehicles, the Zohar funds, in a transaction expected to net between $72 million and $77 million for the funds' Chapter 11 bankruptcy estate.

  • June 26, 2019

    PE-Backed Cambium Pulls In $70M From Below-Range IPO

    Wireless broadband infrastructure business Cambium Networks Corp. made its market debut Wednesday with a $69.6 million initial public offering, pricing shares below its expected range.

  • June 26, 2019

    StockX Lands $110M Series C, Valuation Rises To Over $1B

    Detroit-based StockX, a stock market for sneakers, streetwear, watches and collectibles, said Wednesday it has laced up a $110 million funding round that brings the company’s valuation to more than $1 billion.

  • June 26, 2019

    2 Firms Steer TDR Capital's $2.4B Deal For Used Car Seller

    Aftermarket vehicle sales and service platform BCA Marketplace on Wednesday accepted a £1.9 billion ($2.4 billion) takeover offer from London-based private equity firm TDR Capital, striking a deal steered by Linklaters and Bryan Cave on the buy and sell side, respectively.

  • June 26, 2019

    Private Investors Inject $104M Into Encoded Therapeutics

    Encoded Therapeutics Inc., a San Francisco-based biotech focused on developing treatments for severe genetic disorders including liver and cardiovascular disease, said Wednesday that it has collected $104 million from a group of private investors.

  • June 26, 2019

    Paul Weiss Guides Clearlake's Latest $1.4B PE Fund

    Clearlake Capital Group LP, working with Paul Weiss, said Wednesday that it has clinched its latest fund after collecting $1.4 billion from limited partners, with plans to invest in middle market companies in sectors including software and technology-enabled services, industrials and energy, and consumer.

  • June 25, 2019

    Deals Rumor Mill: Magellan, Miniso, Woodford

    Magellan Midstream Partners is reportedly considering selling a stake in a Texas pipeline, Miniso is planning to go public, and Woodford Investment Management is about to tap bankers to help it sell its Atom Bank and Oxford Nanopore Technologies stakes.

  • June 25, 2019

    Arlington Capital Taps Kirkland For $1.7B PE Fund

    Washington, D.C.-based middle market private equity firm Arlington Capital Partners, working with Kirkland & Ellis LLP, said Tuesday it has closed its fifth fund after securing $1.7 billion from limited partners.  

  • June 25, 2019

    SEC's Peirce: Private Offerings Discriminate Geographically

    U.S. Securities and Exchange Commissioner Hester Peirce said Tuesday that existing income and wealth-based rules that specify who can participate in private securities offerings are "geographically discriminatory" because they favor America's coasts, and she encouraged the public to speak out on potential reforms.

  • June 25, 2019

    Orchids Paper Ch. 11 Auction Can Proceed, Del. Judge Says

    A Delaware bankruptcy judge on Tuesday rejected a call by unsecured creditors to bar or limit an offer by the private equity-backed lender serving as Orchids Paper Products Co.’s stalking horse to use prepetition debt to purchase the company's assets at auction Thursday.

Expert Analysis

  • A Broader View Of The US Supreme Court Bar

    Author Photo

    During the past 15 years, three widely read articles bolstered by starstruck media have promulgated the incorrect perception — sorely in need of revision — that the U.S. Supreme Court bar is limited to a handful of elite lawyers, says Lawrence Ebner of Capital Appellate Advocacy.

  • Ex-Jumio CEO Case Shows SEC Is Watching Private Cos.

    Author Photo

    The U.S. Securities and Exchange Commission recently settled with the founder of Jumio for his misstatement of financial results to inflate the value of his company shares. This case is an example of what may be in store if an economic downturn hits the current stable of unicorns, say Joshua Newville and Brian Hooven at Proskauer.

  • Opinion

    Jury Trials Are In Decline For Good Reason

    Author Photo

    A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.

  • Series

    Why I Became A Lawyer: A Circuitous Path To The Law

    Author Photo

    Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.

  • Series

    Judging A Book: Conrad Reviews 'The Jury Crisis'

    Author Photo

    In "The Jury Crisis," jury consultant and social psychologist Drury Sherrod spotlights the vanishing jury trial, providing a fascinating canary-in-the-coal-mine warning for lawyers, litigants and society at large, says U.S. District Judge Robert Conrad of the Western District of North Carolina.

  • Revamping Your Approach To Client Development

    Author Photo

    As a former general counsel for both public and private companies, my advice to law firm attorneys who want to attract and keep clients is simple — provide certain legal services for free, says Noel Elfant, founder of General Counsel Practice.

  • What Lawyers Must Know Before Acting As Escrow Agents

    Author Photo

    The moment an attorney agrees to serve as an escrow agent for a client, the attorney assumes some of the most important obligations in the legal profession. Significantly, these obligations potentially extend to third parties who are not clients, say Scott Watnik and Michael Contos of Wilk Auslander.

  • Freelance Attorneys Are An Asset To In-House Legal Teams

    Author Photo

    With recent technological advances and a broader acceptance of flexible work arrangements, the opportunity for freelance attorneys is greater than ever, as is the value that this freelance workforce can create for companies, says Ben Levi of InCloudCounsel.

  • Why PE Funds Should Consider Qualified Opportunity Zones

    Author Photo

    The qualified opportunity zone program has largely focused on real estate, but private equity funds are uniquely positioned for QOZ investment in operating and startup businesses, as long as funds understand how program requirements may affect deals, say Alexandre Denault and Ira Stechel at Akerman.

  • Book Excerpt

    'Big Tech' Questions Echo Early Days Of US Corporate Law

    Author Photo

    The current calls to curb the power of Google, Facebook and Amazon recall an earlier time in American history, when the “bigness” of oil, steel and tobacco was front and center in national politics. And in those debates, the top lawyers of the day had a major voice, says John Oller, author of the new book "White Shoe."

  • OFAC Is Raising The Compliance Bar

    Author Photo

    Last week's settlement with Stanley Black & Decker is the most recent enforcement action in which the U.S. Treasury Department's Office of Foreign Assets Control appears to be communicating, in uncharacteristically direct terms, heightened compliance expectations for pre- and post-acquisition companies, say attorneys at Ropes & Gray.

  • Make-Whole Provisions Still Enforceable After Momentive

    Author Photo

    After the recent bankruptcy court decision in 1141 Realty Owner, debtors should think twice before assuming that a Southern District of New York bankruptcy filing will allow them to avoid a hefty make-whole premium — notwithstanding the Second Circuit’s 2017 Momentive decision, say Matthew Kelsey and Michael Gocksch of Gibson Dunn & Crutcher LLP.

  • New Guidelines Boost Sustainability-Linked Lending

    Author Photo

    Last week, three global syndicated lending industry associations established a voluntary framework for loans with terms tied to sustainability performance targets — further developing this fast-growing loan product that was introduced in the United States last year, say Aaron Adams and Yair Galil of Gibson Dunn & Crutcher LLP.

  • Setting The Record Straight On Women In Court Reporting

    Author Photo

    Today, 89 percent of court reporters are women, but I remember sitting behind my steno machine in the '80s and being asked by a judge if I, as a woman, would have the emotional fortitude to work a murder case, says Karen Santucci, chairwoman of the Plaza College court reporting program.

  • 10 Years After Koehler, NY Still Good For Judgment Creditors

    Author Photo

    A New York appeals court's decision in Kassover v. Prism has reinforced the state's reputation — established in Koehler v. Bank of Bermuda — as an attractive forum for judgment creditors seeking to execute on debtors' assets held in foreign jurisdictions, says Robert Malatak of Windels Marx Lane & Mittendorf LLP.

Can't find the article you're looking for? Click here to search the Private Equity archive.