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Private Equity

  • June 4, 2019

    Jevic Lenders Sue In Del. To Recover $2M From Busted Deal

    The private equity backer behind defunct trucking company Jevic has sued the company's bankruptcy estate and a handful of law firms, creditors and other stakeholders in Delaware seeking to claw back $2 million paid to fund a settlement that fell apart after the U.S. Supreme Court repudiated the deal.

  • June 4, 2019

    Velocity Capital Leans Into Fintech With New $118M Fund

    Investment firm Velocity Capital, which is ramping up its holdings in up-and-coming financial technology businesses, said Tuesday that a new fintech fund has raised €105 million ($118 million) steered by Loyens & Loeff and Stek. 

  • June 4, 2019

    Canada's Northleaf Nets CA$300M For Venture Capital Fund

    Canadian private investment firm Northleaf Capital Partners said Tuesday that it has closed its latest fund after securing CA$300 million ($223.6 million) from limited partners, with plans to invest in Canadian venture capital fund managers.

  • June 4, 2019

    Glennmont Grabs €850M For European Clean Energy Fund

    London-based Glennmont Partners, a private fund manager focused solely on investments in European clean energy infrastructure projects, said Tuesday that it has clinched its latest fund after soaring past its original target and raking in €850 million ($956 million) from limited partners.

  • June 4, 2019

    3 Firms Steer $37M Affordable Housing JV

    Affordable housing investor The Community Development Trust and multifamily housing developer Southport Financial Services Inc. said Tuesday they have formed a $37 million joint venture that will buy and renovate five California apartment complexes in a deal steered by three firms.

  • June 3, 2019

    Online Pet Supply Retailer Chewy Leads 3 New IPO Launches

    PetSmart subsidiary Chewy Inc. set a price range on an initial public offering that could raise near $749 million next week, leading three companies that joined June's IPO pipeline Monday with deals that could raise $864 million combined.

  • June 3, 2019

    DLA, Weil Steer $115M Real Capital Analytics PE Investment

    Real Capital Analytics Inc. locked in a $115 million investment Monday from Weil-led private equity firm Susquehanna Growth Equity LLC as the DLA Piper-guided real estate analytics and data provider buys back a stake in the company from the parent of the Daily Mail newspaper.

  • June 3, 2019

    Deals Rumor Mill: Bayer, Thomas Cook, KKR

    Private equity firms are mulling making offers for the animal medicines unit of Bayer, Hi Fly has lobbed an offer for the airline unit of Thomas Cook, and KKR is considering selling bulk container company Goodpack.

  • June 3, 2019

    Callidus Capital Sells Bluberi Gaming Stake In CA$92.7M Deal

    Callidus Capital on Monday agreed to sell its stake in casino game developer Bluberi Gaming Canada to Catalyst for CA$92.7 million ($69 million), and the company has pushed back its general meeting to give shareholders a chance to review the deal.

  • June 3, 2019

    4 Firms Steer Algonquin’s $365M Bermuda Utility Buy

    Canada's Algonquin Power & Utilities Corp. said Monday it will acquire the parent company of electric utility Bermuda Electric Light Co. Ltd. in a $365 million deal, with Husch Blackwell LLP and Conyers Dill & Pearman steering the buyer and Clifford Chance and Appleby guiding the seller. 

  • June 3, 2019

    Money Transfer App WorldRemit Snags $175M From Investors

    WorldRemit has received $175 million from a group of private investors led by TCV, Accel and LeapFrog Investments, the companies said Monday, in a funding round meant to enable continued growth and expansion for the U.K.-based money-transferring service.

  • June 3, 2019

    Baker Botts, Skadden Steer $4.3B Deal For El Paso Electric

    An infrastructure investment fund affiliated with J.P. Morgan on Monday inked a roughly $4.3 billion agreement to acquire El Paso Electric Co., which provides power to about 428,000 customers across West Texas and southern New Mexico, in a deal guided by Baker Botts and Skadden.

  • May 31, 2019

    Ex-Apollo Exec Targets 'Fake' Competing Bid In $1.5B Suit

    A former executive for Apollo Global Management denounced the investment giant in a New York state court hearing Friday, telling the trial court judge that Apollo and Athene Holding Ltd. lied and cheated to kill his company's $1.5 billion deal.

  • May 31, 2019

    4 Firms Break From Pack In Robust May For IPOs

    Four law firms surged ahead of peers in initial public offering activity in May, steering a robust pipeline that included Uber's massive $8.1 billion IPO, plus an array of smaller companies that went public in a month that started explosively but ended quiet.

  • May 31, 2019

    Lyft Hid Flaws Ahead Of $2.3B IPO, Investor Says

    Lyft Inc. withheld information about its market position, its relationship with drivers and safety issues with its bikeshare program, causing shares to plummet after its $2.3 billion initial public offering earlier this year, according to a shareholder putative class action filed in California federal court Friday.

  • May 31, 2019

    Chancery Keeps Alive Nuveen Seller's $278M Bonus Suit

    Delaware's Chancery Court kept a suit alive Friday seeking the court's interpretation of the sale contract behind TIAA's 2014 purchase of global investment giant Nuveen, allowing the seller to battle for more of an up to $278 million post-deal bonus.

  • May 31, 2019

    Health Hires: Morgan Lewis, Manatt Phelps, Dovel Tech

    Morgan Lewis & Bockius LLP has welcomed back a seasoned corporate attorney in Princeton, Manatt Phelps has nabbed a regulation pro in Albany, and government contractor Dovel Technologies added a new chief legal officer, headlining Law360’s latest roundup of personnel moves in the health care and life sciences arena.

  • May 31, 2019

    Taxation With Representation: Wachtell, King, Skadden

    In this week’s Taxation with Representation, Global Payments hauls in Total System for $21.5 billion, NXP buys Marvell’s wireless connectivity portfolio for $1.76 billion and Morningstar acquires DBRS for $669 million.

  • May 31, 2019

    Deals Rumor Mill: Ardian, TPG, Deutsche-UBS

    Ardian snapped up a $5 billion private equity portfolio from Norinchukin Bank, Capital Senior Living has brushed off numerous approaches from TPG, and Deutsche Bank and UBS previously considered a megamerger of their own.

  • May 31, 2019

    Toshiba Memory Unveils Plans To Receive $11B In Financing

    Toshiba Memory Holdings Corp. announced Friday it has received new financing totaling 1.2 trillion yen ($11.05 billion) through a combination of bank loans and the issuance of new stock to help pay for the roughly $18 billion deal that saw the company taken private in 2017.

  • May 31, 2019

    Don’t Miss It: Gibson Dunn, Paul Hastings Lead Hot Deals

    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 Paul Hastings. Here, Law360 recaps the ones you might have missed.

  • May 31, 2019

    Aussie Energy Co. AGL Nixes Vocus Bid, EQT Offer Remains

    Australian energy company AGL Energy on Friday said it is no longer looking to buy telecommunications firm Vocus, withdrawing its bid and leaving an AU$3.3 billion ($2.3 billion) proposal by EQT Infrastructure as the only offer on the table.

  • May 31, 2019

    How To Help PE Clients Handle The Distressed Debt Dip

    Distressed debt fundraising has slowed and investors are flocking to other types of debt investment vehicles, underscoring the importance of legal advisers that can peer around corners and help private equity clients understand how to best capitalize on the private debt market.

  • May 31, 2019

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

    The past week has seen two fraud victims sue Lloyds Bank over a banking scheme at HBOS, trustees of BT's pensions scheme sue Nationwide, and the Financial Conduct Authority face a lawsuit in connection with a convicted money lender. 

  • May 30, 2019

    Unused Cash Concern Delays Orchids Paper's Ch. 11 Loan

    Bankrupt Orchids Paper Products Co. postponed final action on an $11 million debtor-in-possession loan Thursday, after a Delaware bankruptcy judge challenged terms that could leave $7 million unused while $14.5 million in postpetition vendor and trade claims pile up awaiting an uncertain outcome.

Expert Analysis

  • Series

    Judging A Book: Smith Camp Reviews 'Echo Of Its Time'

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    "Echo of Its Time" is the story of Nebraska’s federal district court from statehood in 1867 to the demise of Prohibition in 1933. Professors John Wunder and Mark Scherer have written an objective, unsentimental and insightful history, layered with context and rich in character study, says U.S. District Judge Laurie Smith Camp of the District of Nebraska.

  • Momentive Disrupts Intercreditor Agreements And Reorgs

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    The Momentive decision in the Southern District of New York, which warned against allowing senior secured creditors to “completely disable debtors from restructuring” and “scavenge on all assets in bird’s-eye view,” may have the unintended consequence of doing just that, say Adam Shiff and Shai Schmidt of Kasowitz Benson Torres LLP.

  • The Role Of Data Analytics In Mass Torts

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    Lawyers involved in a mass tort must make difficult decisions concerning the potential size of the claimant pool, the expected percentage of qualifying cases, the likelihood of a settlement and more. Data analytics can help guide mass tort strategies and yield better outcomes, say Deb Zonies and Mark Zabel of litigation support services provider Verus LLC.

  • Guest Feature

    'The Mooch' Talks Mayhem, Con Law, Lessons From Harvard

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    Anthony Scaramucci is probably best known for the 11 days he spent as White House director of communications in 2017. But when White and Williams LLP attorney Randy Maniloff sat down to chat with "the Mooch," he was interested in hearing a different story.

  • Why Chancery Rejected Corwin Cleansing In Tangoe

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    The Tangoe stockholders litigation is one of the rare — but apparently increasingly frequent — cases in which the Delaware Court of Chancery has ruled that Corwin cleansing of a transaction is not available because stockholder approval of the transaction was not “fully informed and uncoerced,” say attorneys at Fried Frank Harris Shriver & Jacobson LLP.

  • FTC Decision Highlights Growing Divide On Vertical Mergers

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    A recent Federal Trade Commission enforcement action involving a vertical merger between Staples Inc. and Essendant Inc. highlighted the intensifying debate regarding vertical integration's competitive benefits and harms, as well as starkly divergent views between individual commissioners on merger review, say Daniel Hemli and Jacqueline Java at Bracewell LLP.

  • Why NY's Sutton 58 Decision Won't Rattle Real Estate Finance

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    Though some have claimed the New York Appellate Division, First Department's ruling in Sutton 58 v. Pilevsky will have earth-shattering consequences, the deceptively narrow decision does not undermine the contract-based foundation upon which recourse carveout guarantees are built, say attorneys at Fried Frank Harris Shriver & Jacobson LLP.

  • Why Proper Document Redaction May Be An Ethical Duty

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    Paul Manafort's attorneys recently filed a court document containing incompletely redacted information, highlighting the need for attorneys to become competent at redaction — or at least at verifying that redaction has been performed correctly. Failure to do either could be construed as legal malpractice, says Byeongsook Seo of Snell & Wilmer LLP.

  • Oxbow: A Study In The Cost Of Misalignments In Good Deals

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    The recent Oxbow litigation in Delaware provides an example of how things can go wrong on a minority investor's road to liquidity. For example, misalignment between a transaction's economic terms and parties' motivations can skew expectations, say Kyle Gann and Jason Osborn of Winston & Strawn LLP.

  • Series

    Why I Became A Lawyer: A Refugee's Journey Of Firsts

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    Even as a child in war-torn Iran, I began to develop a sense of justice and a desire for equality and the rule of law. These instincts ultimately guided me to become a federal prosecutor, and now a partner in private practice, says Raymond Aghaian of Kilpatrick Townsend & Stockton LLP.

  • 9 Trends Driving The Expansion Of Women In Private Equity

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    The private equity industry has a long way to go to ensure the diverse views and experiences of women are harnessed for the good of the firms and the companies in which they invest, but current trends are favorable, say experts at McGuireWoods LLP.

  • Keeping PR Strategy Communications Privileged: Part 2

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    Determining whether and to what extent your legal team should invite a PR agent into privileged communications requires weighing many factors — including the unsettled and evolving case law on whether such involvement destroys privilege protection and creates discoverable, usable evidence, says Jeffrey Schomig of WilmerHale.

  • Oxbow: Freedom Of Contract Is Fundamental To Delaware Law

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    The Delaware Supreme Court's recent decision in the Oxbow Carbon litigation affirms that freedom of contract is a bedrock principle of Delaware law and that the implied covenant of good faith and fair dealing is only to be applied in limited circumstances, say Kyle Gann and Jason Osborn of Winston & Strawn LLP.

  • Keeping PR Strategy Communications Privileged: Part 1

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    Companies faced with high-profile litigation often turn to public relations firms to help defend their reputations and maintain shareholder confidence. But recent cases are a reminder that internal PR firm documents face uncertain privilege protection, even when those documents are generated in support of a broader legal strategy, says Jeffrey Schomig of WilmerHale.

  • What Lawyers Can Do To Prevent And Combat Burnout

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    Lawyer burnout has been called a “romantic disorder” because it is characteristic of a work ethic admired in the legal culture. But the negative impacts of burnout are real and lawyers need to recognize the signs and solutions, says Jennifer Gibbs of Zelle LLP.

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