Private Equity

  • 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.

  • June 25, 2019

    Hospital Bed Maker Joerns Files Ch. 11 To Cut $320M In Debt

    Joerns Healthcare filed for Chapter 11 in Delaware bankruptcy court on Tuesday, seeking to cut $320 million of its $400 million debt load with a debt-to-equity swap that forms the core of a prepackaged restructuring plan.

  • June 25, 2019

    Vesalius Biocapital Closes €120M Life Sciences-Focused Fund

    Venture capital firm Vesalius Biocapital III Partners said Tuesday it closed its latest fund with €120 million ($136.6 million) in commitments that will be used to continue the firm’s strategy of investing in later-stage Europe-based life sciences companies.

  • June 25, 2019

    Jury Orders Express Scripts To Pay $82M In Sale Fraud Suit

    Express Scripts Inc. will have to pay a Parthenon Capital Partners subsidiary $82.1 million after a Delaware jury found that Express had fraudulently inflated the price of a company specializing in biopharmaceutical clinical trial technology that Parthenon had acquired.

  • June 25, 2019

    Financial Data Biz MX Locks Down $100M Fundraise

    Financial data and analytics platform MX said Tuesday a recent funding round led by Battery Ventures brought in $100 million, giving the Dorsey & Whitney-guided company the ability to add to an already growing customer base and develop and invest in new technologies.

  • June 25, 2019

    DTCP Closes Second Venture, Growth Fund At $350M

    Deutsche Telekom’s investment management group said Tuesday it closed its second venture and growth fund at $350 million after pocketing additional commitments from Korean telecom giant SK Telecom and Zeiss, a German technology company focused on optics and optoelectronics.

  • June 24, 2019

    Abiomed Asks 1st Circ. Not To Revive Exec's $5M Bonus Suit

    A former Abiomed executive didn’t come close to achieving a career milestone worth $5 million in shares, the medical implant maker has told the First Circuit, saying the company wasn’t "on the brink" of a key regulatory approval when it canned him.

  • June 24, 2019

    Orchids Paper Says Ch. 11 Sale Should Not Be 'Disrupted'

    Orchids Paper Products Co. and the private equity-backed lender serving as its stalking-horse bidder told the Delaware bankruptcy court Monday it should reject a "baseless" effort by unsecured creditors to stall the sale of the company's assets.

  • June 24, 2019

    5 Cos. Heat Up July IPO Pipeline With Filings Totaling $547M

    Five issuers, all health care- or technology-related companies, filed initial public offerings late on Friday that are preliminarily expected to raise about $547 million, a sign that the IPO market should remain humming well into July.

  • June 24, 2019

    Deals Rumor Mill: Blue Racer, GV Gold, Bitmain

    Blue Racer Midstream is reportedly considering going public, a Fosun International-led group is said to be discussing a deal to snap up a large stake in Russian gold miner GV Gold, and Bitmain Technologies is reportedly reigniting plans to go public.

Expert Analysis

  • What To Expect From Increased FTC-State AG Collaboration

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    At a recent meeting of the National Association of Attorneys General, Federal Trade Commission Chairman Joseph Simons advocated for increased collaboration with state attorneys general, potentially raising the stakes for targeted companies and highlighting the importance of a strong compliance program, say attorneys with Buckley LLP.

  • Guest Feature

    Leon Panetta In The Courtroom, Langley And Area 51

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    Over the course of his career, Leon Panetta has served as a U.S. representative, director of the CIA and secretary of defense. But before all that, he was a lawyer. Randy Maniloff of White and Williams LLP asked him about his legal background — and about little men from outer space.

  • Series

    Why I Became A Lawyer: Finding A Voice, And A New Home

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    My Fulbright scholarship project developed after I talked to my grandmother in the Philippines about the cost of her medication. Drugs developed in the U.S. and Europe are typically sold there for prices beyond the reach of many Filipinos. So I advocated for compulsory licensing for lifesaving medicines, says Melissa Martinez of McGuireWoods LLP.

  • Opinion

    Hedge Fund Activism Delivers Unimpressive Impact

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    Hedge fund activism has generated a large amount of public debate, but it's neither the threat to corporate strength that opponents decry nor the power for positive change that activists and their supporters claim, says J.B. Heaton of J.B. Heaton Research LLC.

  • Series

    Judging A Book: Willett Reviews 'Guilty Pleasures'

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    Professor Laura Little’s new book, "Guilty Pleasures: Comedy and Law in America," will make you laugh and make you think — and to a federal circuit judge who reads the Constitution for the articles, it is ... appealing, says Fifth Circuit Judge Don Willett.

  • Women In Law Need Equal Treatment, Not Affirmative Action

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    The sheer number of women entering the legal profession means gender equality is coming, one way or the other. This Women’s History Month, BigLaw firms should reflect on this with the understanding that they dismiss the flight of senior female attorneys from their ranks at their peril, says Tamara Kurtzman, founder of TMK Attorneys PC.

  • Rebuttal

    Visible Diversity Is A Sign Of Organizational Health

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    A recent Law360 guest article cautioned against the hazards that can stem from pursuing "optimal" diversity, but overlooks the value of paying attention to visible diversity, says Matt Lykken of Potomac Law Group PLLC.

  • Simple Secrets For Writing A Killer Brief

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    These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.

  • Health Care M&A: Now Insurable

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    As the representations and warranties insurance industry has expanded, it is now seriously considering and writing risks that were once considered anathema, such as health care transactions, say David Kuffler of Kaufman Dolowich & Voluck LLP and Brian Thede of Ethos Specialty Insurance Services LLC.

  • The Hidden Value Of Carveout-Specific Due Diligence

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    Prior to launching a carveout transaction process, sellers should consider investing in carveout specific diligence, using the vendor due diligence construct employed in some European transactions as a model, say attorneys at Baker McKenzie.

  • How A US Discovery Statute Can Affect Cayman Litigation

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    Though admissibility will continue to be decided on a case-by-case basis, what is clear is that evidence obtained through Section 1782 applications in the U.S. will remain a feature of litigation in the Cayman Islands, say Conal Keane and Nick Hoffman of Harney Westwood & Riegels LLP.

  • 3 Lessons From A Crypto Mock Trial

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    We recently hatched a plan to test whether litigators could get blockchain ledger entries into evidence under the existing Federal Rules of Evidence, and we found a federal judge willing to help us, say attorneys Justin Steffen, Andrew Hinkes, Lisa Braganca, Christopher Veatch, Kashan Pathan and Jimmie Zhang.

  • How VC-Backed Companies Can Mitigate #MeToo Risk

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    While public companies have had their share of struggles responding to allegations of improper behavior by executives in the #MeToo era, venture capital-backed startups — especially in their early stages — face unique challenges in addressing such claims, say attorneys at Foley & Lardner LLP.

  • Q&A

    A Chat With McDermott COO John Yoshimura

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature John Yoshimura, chief operating officer at McDermott Will & Emery LLP.

  • Opinion

    The Problem With 'Optimal' Diversity

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    Organizations should seek to avoid discrimination, but they should also be wary of the idea that diverse teams function better than nondiverse teams, because this reasoning lacks evidence and can lead to a slippery slope, says J.B. Heaton of J.B. Heaton Research LLC.

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