Private Equity

  • April 28, 2017

    Deals Rumor Mill: Paytm, M1, BASF

    Indian mobile payment platform Paytm has received a $1.87 billion investment from SoftBank, multiple suitors have placed bids for Singaporean wireless operator M1 and BASF will not pursue an acquisition of Akzo Nobel's chemical business.

  • April 28, 2017

    PE-Backers Unloading $521M Stake In Extended Stay

    Hotel operator Extended Stay America Inc. said Friday that its private equity backers are again selling down their position in the company and its real estate investment trust subsidiary, this time unloading $520.5 million worth of stock in a secondary offering.

  • April 28, 2017

    5 Firms Set To Launch May With 6 IPOs Surpassing $1.7B

    Five firms will steer six initial public offerings projected to raise more than $1.7 billion during the first week of May, including two energy issuers, three biotech companies and a private equity-backed real estate finance company, extending the IPO market's second-quarter momentum.

  • April 28, 2017

    CVC Grabs Major Stake In Swiss Watchmaker Breitling

    London-based private equity shop CVC Capital Partners said it would buy an 80 percent stake in family-owned Swiss watchmaker Breitling SA on Friday, with an eye on expanding the company’s reach into different regions.

  • April 28, 2017

    Hospital Laundry Co.'s Ch. 11 Loan, Bidding Procedures OK'd

    Bankrupt medical laundry and linen management services company Angelica Corp. received final authorization Friday to tap a $65 million Chapter 11 loan and move forward with its agenda to sell the business to a KKR & Co. LP affiliate for $125 million or field a better offer at auction.

  • April 28, 2017

    HK Footwear Co. Courted With $6.8B Take-Private Deal

    Hong Kong-based footwear and apparel company Belle International Holdings Ltd. said Friday that a consortium composed of private equity shops Hillhouse Capital and CDH Group, along with some of the company’s executives, have offered to take it private in a deal valued at HK$53.1 billion ($6.8 billion).

  • April 27, 2017

    Investors Want Venture Funds Kept Out Of Theranos Suit

    Investors who purchased Theranos Inc. stocks through venture funds on Wednesday urged a California federal court not to rope the funds into the litigation, arguing there’s no risk of double recovery and that the securities fraud lawsuit won’t be hindered without their presence.

  • April 27, 2017

    Deals Rumor Mill: West Corp., Party City, Precision Capital

    Apollo Global is nearing an acquisition of call center operator and debt collection company West Corp., Party City may be for sale, and Precision Capital is considering a sale of its roughly $1.5 billion stake in Banque Internationale a Luxembourg.

  • April 27, 2017

    PE-Backed Retailer, UK Biotech Price IPOs Totaling $263M

    Private-equity-backed retailer Floor & Decor Holdings Inc. raised $185 million in an initial public offering that priced above range Wednesday, guided by Proskauer Rose LLP, and U.K. biotech company Verona Pharma PLC netted $78 billion, advised by Latham & Watkins LLP, the first two of several IPOs scheduled this week.

  • April 27, 2017

    Surge Of Blank Check Cos. To Oil Patch Won't Last

    A recent influx of private equity-affiliated blank check companies looking to buy private energy companies has injected additional deal-making juice into an industry recovering from a prolonged oil price slump, but experts say that wave may recede quickly as traditional initial public offerings for energy firms pick up again.

  • April 27, 2017

    Digital Education Co. Everfi Receives $190M Investment

    Everfi Inc. — a subscription-based provider of digital learning to schools, corporations, sports leagues and nonprofits — has raised $190 million from a group of investors led by affiliates of private equity giant TPG Capital, the companies said Thursday.

  • April 27, 2017

    PGIM Real Estate Snags More Than £1B For Private Debt Fund

    PGIM Real Estate has clinched its latest private real estate fund after collecting more than £1 billion ($1.29 billion) from investors, the firm said Thursday, with plans to invest in private real estate debt in Europe.

  • April 27, 2017

    4 Firms Guide TransUnion's 16.5M-Share Secondary Offering

    Credit reporting giant TransUnion, which completed a $665 million initial offering in 2015, on Thursday unveiled a secondary offering that could exceed $700 million and allow shareholders Advent International and Goldman Sachs to trim their stakes in the company through a deal guided by four law firms.

  • April 27, 2017

    Investors Challenge $630M Harland Clarke, RetailMeNot Deal

    Just weeks after payment and marketing company Harland Clarke Holdings Corp. announced a $630 million deal to buy online coupon company RetailMeNot Inc., the target's investors launched a class action Wednesday in Delaware federal court saying the deal shortchanged them and the solicitation statement contained falsehoods.

  • April 26, 2017

    'Stalker' CEO Can't Yet Appeal $5.7M Verdict, 2nd Circ. Rules

    The Second Circuit on Wednesday brushed off the appeal of a private equity CEO facing a $5.7 million employee defamation verdict, saying his judgment isn't yet final because there are pending contract claims, so no appeal is allowed.

  • April 26, 2017

    Deals Rumor Mill: Seibu, Volkswagen, Castle Brands

    Cerberus Capital hopes to sell up to $446 million worth of Seibu stock, Volkswagen may sell Italian motorcycle company Ducati, and New York-based alcohol company Castle Brands is considering a sale.

  • April 26, 2017

    Morgan Lewis Adds Energy Transaction Lawyer In Houston

    Morgan Lewis & Bockius LLP announced that it has hired an energy transaction lawyer with experience working on mergers and acquisitions and private equity investments as a partner in its Houston office, where he will contribute to its corporate and business transactions practice.

  • April 26, 2017

    KKR Injects $70M Into Spend Management Software Co. Ivalua

    Private equity giant KKR & Co. LP has agreed to inject $70 million into Ivalua, which provides software to businesses to help streamline spending processes, the companies said on Wednesday.

  • April 26, 2017

    TransCare Execs Must Turn Over Patriarch Partners Docs

    A New York bankruptcy judge on Tuesday ordered three top executives of bankrupt medical transporter TransCare Corp. to hand over financial records and communications with its private equity owner, Patriarch Partners, to the company’s Chapter 7 trustee.

  • April 26, 2017

    House Dems Seek To Slow GOP Dodd-Frank Repeal

    Democrats on the House Financial Services Committee on Wednesday said they planned to hold their own hearing on a Republican bill that would effectively repeal the Dodd-Frank Act in a bid to slow down the legislation.

Expert Analysis

  • Trends In Leveraged Finance

    Excerpt from Lexis Practice Advisor
    Stephen Kessing

    While many experts are optimistic that the Trump presidency will have positive impacts on the financing markets, the regime change’s ramifications for the market are only just coming into focus, say Stephen Kessing and Randall Limberg of Cravath Swaine & Moore LLP.

  • The Mediator’s Proposal As A Tool For Litigants

    Dennis Klein

    Mediators’ proposals, which call for an unconditional and confidential acceptance or rejection, are resolving high-value disputes on a regular basis. Dennis Klein of Critical Matter Mediation examines why this is happening and the tactical implications for litigants in anticipating that a mediator’s proposal could resolve litigation.

  • Expectations After The Trump Administration's First 100 Days

    Jim Flood

    In its first 100 days, the Trump administration has had mixed results and may be behind where it wants to be. The biggest threat to President Donald Trump’s domestic policy agenda beyond the first 100 days is the difficulty of reconciling the Freedom Caucus Republicans, moderate Republicans and Democrats, say Jim Flood and Cari Stinebower of Crowell & Moring LLP.

  • Post-Closing Liability Risks For Private Equity Firms

    Sara Duran

    Despite thoughtful negotiations, private equity firms selling portfolio companies can have direct post-closing liability. Sara Duran and Sacha Jamal of Sidley Austin LLP look at one example — fraud-in-the-inducement claims — through the lens of the Delaware Superior Court’s recent decision in ITW Global Investments v. American Industrial Partners.

  • FINRA’s Foray Into Insider Trading

    Benjamin Kozinn

    Based on a recent multiyear case against a distressed debt trader, the Financial Industry Regulatory Authority seems ready, willing and able to take a more prominent role in insider trading, say attorneys with Lowenstein Sandler LLP.

  • The Impact Of Tax Reform On Private Equity

    Charles Walker

    While predicting exactly where President Trump and Congress will land when it comes to tax reform is at best an inexact science, certain themes have emerged, including a widespread elimination of deductions. The impact of eliminating corporate-level deductions for private equity funds cannot be understated, say attorneys with Orrick Herrington & Sutcliffe LLP.

  • The 9-Year Winning Streak Of Virginia ‘Rocket Docket’

    Bob Tata

    Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.

  • Opinion

    Let's Talk About Half-Hearted Innovation

    Michael Moradzadeh

    Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.

  • Roundup

    Counsel To Counsel: Insights From Law Firm GCs

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    General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.

  • Monthly Column

    Gray Matters: The Attorney-Client Team

    Robert Creo

    A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.