Private Equity

  • April 09, 2020

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

    The past week in London has seen a major Portuguese bank join the queue of lenders suing Mozambique in the wake of a $2 billion fraud scandal. Russia's sovereign wealth fund target another news outlet over coverage and BP add to the legal woes for its rival Glencore. Here, Law360 looks at those and other new claims in the U.K.

  • April 09, 2020

    Outback Steakhouse To Beef Up Board After Activist Dispute

    Outback Steakhouse’s parent on Thursday agreed to add two new directors to its board as part of an agreement with Jana Partners LLC, in a move that comes roughly five months after the activist investor pushed for changes at the company, including a potential sale.

  • April 08, 2020

    Inside The Top 10 Private Investment Funds That Closed In Q1

    Despite economic turmoil caused by the coronavirus pandemic, private investment vehicles received plenty of capital during the first quarter, and the 10 largest funds that closed through the first three months of 2020 show there’s no end in sight for trends like the rising popularity of technology and secondaries funds.

  • April 08, 2020

    Real Estate Rumors: RedSky, Knotel, Starwood

    RedSky Capital is reportedly hoping to sell 14 buildings in a Miami opportunity zone, Knotel is said to be seeking to give up roughly 20% of the space it leases, and Starwood Capital has reportedly landed $76.16 million in financing for a Miami Beach office and retail project.

  • April 08, 2020

    EQT Unit Says Virus Losses Nix $900M Metlifecare Acquisition

    An EQT unit is looking to pull out of its NZ$1.5 billion ($900 million) takeover deal for Metlifecare over "material adverse changes" caused by COVID-19, but the New Zealand retirement community operator said Wednesday it's not convinced the move is lawful.

  • April 08, 2020

    Third-Party Funders' Business Is Booming During Pandemic

    The economic turmoil unleashed by the COVID-19 pandemic has left few businesses throughout the world untouched, but for arbitration and litigation funders, the past few weeks may mark the beginning of a boom.

  • April 08, 2020

    Simpson Thacher-Led Blackstone Closes $10.6B Fund

    Simpson Thacher-led The Blackstone Group Inc. on Wednesday said it closed on its sixth European real estate investment fund with €9.8 billion ($10.6 billion) in commitment from investors, its largest such fund.

  • April 08, 2020

    Cooley-Led BioPharma Raises $96M In IPO At Top Of Range

    Clinical-stage biopharmaceutical company Keros Therapeutics Inc. started trading shares Wednesday after raising $96 million in a Cooley LLP-steered initial public offering that priced at the top of its expected range.

  • April 08, 2020

    Ex-Akin Gump Atty Joins Loeb & Loeb's Corporate Group

    Loeb & Loeb LLP bolstered its capital markets and corporate practice in California with the addition of a former member of Akin Gump Strauss Hauer & Feld LLP.

  • April 08, 2020

    Digital Mental Health Co. Raises $16M As Virus Spurs Demand

    Digital mental health platform SilverCloud Health said Wednesday it raised $16 million from investors, as the spread of the coronavirus puts remote health care in the spotlight.

  • April 08, 2020

    KKR Senior Executives Launch $50M Coronavirus Relief Fund

    KKR & Co. LP has formed a $50 million coronavirus relief fund that will provide capital to support first responders, communities and portfolio company employees affected by the ongoing COVID-19 pandemic, according to a letter sent to KKR limited partners that was obtained by Law360.

  • April 08, 2020

    Fried Frank Helps StepStone Nab $2.1B For Secondaries Fund

    StepStone Group LP, advised by Fried Frank, has clinched its fourth secondaries-focused fund after securing $2.1 billion from investors, with plans to target segments of the secondaries market it believes are likely to result in strong returns, the private equity firm said Wednesday.

  • April 07, 2020

    Altria, Juul Face Consumer Antitrust Action Over $12.8B Deal

    A $12.8 billion deal between Juul and Altria "eliminated a potential competitor" for Juul and allowed it to gouge direct purchasers with artificially inflated prices, a Juul customer said in a proposed antitrust class action complaint filed against the companies in California federal court Tuesday.

  • April 07, 2020

    Cahill Gordon Suspends 2020 Summer Associate Program

    Cahill Gordon & Reindel LLP has decided to suspend its summer associate program for 2020 in response to the COVID-19 pandemic, the firm announced Tuesday though it says it will pay the associates who had been selected and will offer them full-time positions after graduation.

  • April 07, 2020

    Biz Messaging Software Co. Closes On $125M In Funding

    Business-to-consumer messaging and payments company Podium said Tuesday it’s closed on $125 million in a funding round led by a Silicon Valley-area startup fund.

  • April 07, 2020

    Telehealth Startup Involved In Virus Efforts Raises $50M

    A telehealth startup helping with Israel's coronavirus response said it raised $50 million from backers as demand for remote medical examinations skyrockets during the pandemic.

  • April 07, 2020

    WeWork Committee Sues SoftBank For Nixed $3B Share Buy

    A WeWork special committee sued SoftBank in Delaware court Tuesday over a canceled deal to buy $3 billion of the company’s shares, saying the Japanese investment giant is reaping the benefits of their larger bailout agreement but is now backtracking on its end of the contract.

  • April 07, 2020

    WilmerHale, Dorsey Drive SoFi's $1.2B Deal For Payments Co.

    Financial technology lender SoFi has agreed to buy payments platform developer Galileo Financial Technologies for $1.2 billion, the companies said Tuesday, in an agreement put together with help from WilmerHale and Dorsey & Whitney.

  • April 07, 2020

    Airbnb Nabs $1B In Private Backing During Travel Slump

    Airbnb said it raised $1 billion from a pair of private backers even as the travel and hospitality industry has taken a short-term hit from the spread of COVID-19.

  • April 07, 2020

    Golding Capital Secures €710M For Latest Infrastructure Fund

    Golding Capital Partners has wrapped up its latest fund after securing €710 million ($774 million) from limited partners, with plans to target infrastructure projects in Europe and North America in areas including energy, telecommunications and utilities.

  • April 06, 2020

    Firm Cost-Cutting Has GCs Watchful But Not Worried — Yet

    Most general counsel aren't yet scared about potential disruptions to their outside counsel services, even as law firms cut staff and pay to reduce the financial impact of COVID-19. But some say their feelings could change if their key lawyers become unavailable.

  • April 06, 2020

    SBA Loan Guidance Doesn't Resolve Fate Of Venture Startups

    The Small Business Administration has provided guidance indicating that its affiliation rules will not bar religious organizations from seeking coronavirus relief loans, although its latest clarification does not address the status of venture-backed startups potentially stuck in limbo.

  • April 06, 2020

    More Than A Dozen Firms Guided Q1's Top Hotel M&A Deals

    Jones Day, Kirkland and Gowling were among the more than dozen law firms that steered the largest hotel mergers and acquisitions of the first quarter, a period that saw only seven transactions above the $100 million mark as COVID-19 made its mark on deal flow.

  • April 06, 2020

    Wilson Sonsini Reps Analytics Co. In $80M Funding Round

    Wilson Sonsini-led privacy-focused data analytics company Privitar said Monday it had raised $80 million in its latest funding round to help continue development of its platform, expand internationally and hire more employees.

  • April 06, 2020

    Chinese City To Raise $7B For Electric Vehicle, Other Projects

    A company focused on electric vehicles as well as financial services and technology on Monday said it will be part of a 50 billion yuan ($7 billion) agreement to create a fund to finance investment projects in an eastern Chinese province.

Expert Analysis

  • Lenders Must Prepare For Real Estate Bankruptcy Cramdowns

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    Due to the disruption COVID-19 is causing in real estate markets, lenders face the risk of borrowers filing for commercial real estate reorganization despite the objections of a dissenting class, but lenders have opportunities to block such actions, say Steve Lichtenfeld and Jeff Marwil at Proskauer.

  • Novolex Case Brings Lessons On R&W Insurance

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    A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.

  • Coronavirus Pandemic Highlights Value Of Data Centers

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    The COVID-19 crisis has elevated the profile of data centers due to the massive increase in the volume of telecommunication, data processing and storage, and other online activities, say Michael Rechtin and Michael Merar at Seyfarth.

  • Inside Shareholder Rights Plans Adopted Amid COVID-19

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    Companies including Williams, Occidental Petroleum, Dave & Buster's and Delek have recently adopted shareholder rights plans to protect against unauthorized accumulations of stock as prices decline due to the pandemic. Attorneys at Fried Frank take an in-depth look at these plans and what other companies should consider.

  • Conducting Court Hearings Remotely: 12 Considerations

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    As more courts begin to explore remote hearings during the COVID-19 crisis, attorneys and courts should be aware of some of the common concerns accompanying video- and teleconferencing technology and make allowances to avoid these issues, say Attison Barnes III and Krystal Swendsboe at Wiley Rein.

  • The Era Of Video Mediation Is Here — Or Is It?

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    Mediator Jeff Kichaven has heard from several first-chair trial lawyers and senior claims executives that they are reluctant to adopt online video mediation even during the COVID-19 crisis, and says this reluctance is grounded in reality.

  • COVID-19 Highlights BigLaw Need For Emotional Intelligence

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    The formula for making decisions at BigLaw firms has historically been rooted in IQ-based factors, but with the ongoing pandemic, lawyers and firm leaders are increasingly dealing with issues that require emotional intelligence — from establishing effective virtual offices to retaining firm morale and client confidence, say Jolie Balido and Tina van der Ven at NewStar Media.

  • The Pandemic's Early Effects On Foreign Trade, Investment

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    Though the Committee on Foreign Investment in the United States continues to function despite worldwide disruptions due to the coronavirus, dealmakers should stay mindful of several considerations in this rapidly changing investment environment, say Michael Leiter and Daniel Gerkin at Skadden.

  • Opinion

    Judicial Shaming Of Attys Is Troubling Even During Pandemic

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    Judges have recently rebuked attorneys for wasting judicial resources to resolve minor issues during the COVID-19 crisis, including in a trademark lawsuit over unicorn drawings. But it is unfair to publicly flog lawyers for doing what they are trained to do, says Ronald Minkoff, chairman of Frankfurt Kurnit's professional responsibility group.

  • Don't Be Social Media Distancing: LinkedIn Tips For Lawyers

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    While we need to be physically apart at this time, lawyers and firms should be leaning into social media to reinforce and build relationships, and help guide clients through the coronavirus crisis, says marketing consultant Stefanie Marrone.

  • Calif. Privacy Law Considerations For Private Funds

    Excerpt from Lexis Practice Advisor
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    Reece Hirsch and Brian London at Morgan Lewis explore when private investment funds and their managers are subject to the California Consumer Privacy Act and similar state laws, when they are exempt, and what they need to do to comply.

  • Inside The CARES Act's Key Tax Code Modifications

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    Attorneys at Eversheds explain how the Coronavirus Aid, Relief, and Economic Security Act modifies core federal tax provisions — including payroll tax requirements, net operating loss carrybacks and the corporate alternative minimum tax — in order to help businesses weather the current economic downturn.

  • Remote Depositions: Coming To A Home Office Near You

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    Recent Texas state court orders indicate judges are increasingly requiring parties and nonparties to submit to remote depositions amid the pandemic. However, there are inherent drawbacks to such depositions, including limitations on attorneys’ ability to assess witness credibility, says Edward Duffy at Reed Smith.

  • Ways Lawyers Can Support The Most Vulnerable Right Now

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    In this global health and economic crisis, it is essential that lawyers recommit to inclusion, and fight for colleagues, clients, community members and friends who are most at risk, says Dru Levasseur, head of the National LGBT Bar Association's inclusion coaching and consulting program.

  • Private Equity Funds Can Benefit From CARES Act Tax Relief

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    Several important tax provisions in the recently enacted Coronavirus Aid, Relief, and Economic Security Act can alleviate stress the pandemic has put on private equity funds and their portfolio companies' liquidity and profits, say attorneys at Holland & Knight.

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