Private Equity

  • July 03, 2020

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

    The last week has seen a competition suit against Royal Mail, a Saint-Gobain unit lodge a patent claim against 3M and a Russian bank file another suit against Mozambique and one of the state-owned entities embroiled in a $2 billion bribery scandal. Here, Law360 looks at those and other new claims in the U.K.

  • July 02, 2020

    Latham-Led AI Insurance Site Prices Upsized $319M IPO

    Renters and home insurance provider Lemonade's shares traded Thursday in an upsized $319 million initial public offering with shares peaking 144% above the offering price, in a deal advised on by Latham & Watkins LLP and White & Case LLP.

  • July 02, 2020

    Don't Miss It: Cooley, Weil Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed multiple deals announced in the last several days helmed by firms such as Cooley and Weil. Here, Law360 recaps the ones you may have missed.

  • July 02, 2020

    Top Delaware Cases Of 2020: A Midyear Report

    Despite the pandemic, the first half of 2020 saw epic judicial gear-shifting but no real slowdown in Delaware's key business courts, with new Chancery Court complaints actually picking up and important corporate and commercial law decisions regularly emerging from remotely conducted proceedings.

  • July 02, 2020

    Deals Rumor Mill: Uber, JBIC, XingSheng

    Uber hopes to pay $2.6 billion for Postmates, a group of Japanese entities is investing $14.4 billion in a gas project in Mozambique, and a new funding round will value Chinese groceries delivery app XingSheng at $3 billion. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • July 02, 2020

    Singapore Watchdog To Probe LSE's $27B Refinitiv Deal

    Singapore's competition authority on Thursday raised concerns about the London Stock Exchange's planned $27 billion takeover of Refinitiv, saying the blockbuster deal could affect the market for foreign exchange rates.

  • July 02, 2020

    Angelo Gordon Raises $1.5B For European RE Fund

    New York-based investment firm Angelo Gordon & Co. LP said Thursday that its latest real estate fund raised $1.5 billion that will be used to target all types of property in the U.K., the Nordic countries and Western Europe.

  • July 02, 2020

    Biotech Firms Drive IPO Rebound While 'Unicorns' Gear Up

    The initial public offering market ended midyear on a roll and appears poised for a strong second half of 2020, powered by a robust biotechnology sector and potential debuts from venture-backed technology "unicorns" — barring more pandemic-related setbacks.

  • July 02, 2020

    Fried Frank Steers Kennet To $250M Tech-Focused PE Fund

    Kennet Partners Ltd., advised by Fried Frank, said Thursday that it finalized its fifth fund after securing $250 million from limited partners, with plans to invest in technology companies that were formed without external capital across Europe, the U.K. and the U.S.

  • July 02, 2020

    Inside The Largest PE Funds That Closed In Q2

    The coronavirus pandemic contributed to a significant dip in overall private equity fundraising during the second quarter, but some fund managers were still able to clinch massive, multibillion-dollar vehicles, and the largest funds from the quarter highlight industry trends like an increasing interest in distressed assets, technology and secondaries.

  • July 02, 2020

    More Than A Dozen Firms Aided Largest Q2 Real Estate Deals

    White & Case and Hogan Lovells were among more than a dozen firms that helped with the 10 largest real estate mergers and acquisitions deals of the second quarter, five of which were north of the $1 billion mark.

  • July 01, 2020

    Congress Extends PPP To August, Mulls 2nd Round Of Loans

    The U.S. House of Representatives passed a bill Wednesday to reopen the Paycheck Protection Program through Aug. 8, sending the Senate-approved measure to the president as lawmakers discuss a possible second round of forgivable loans.

  • July 01, 2020

    Cybersecurity Co. Accused Of Misleading Investors In IPO

    Israeli cybersecurity software company Tufin overstated its business prospects in North America in the lead-up to its $108 million initial public offering, teeing up a drop in its stock price when the company underperformed, an investor told a New York state court Wednesday.

  • July 01, 2020

    High Times Parent To Acquire Calif. Cannabis Delivery Service

    The private equity-backed parent company of cannabis magazine High Times said it has entered into an acquisition agreement with a California cannabis delivery service, which the company said would give it distribution hubs in the Golden State as it seeks to break into retail marijuana.

  • July 01, 2020

    Annexon Raises $100M To Push Autoimmune, Brain Therapies

    Clinical-stage biopharmaceutical company Annexon said Wednesday it raised $100 million from private backers to advance its pipeline of potential therapies for autoimmune, brain and eye disorders.

  • July 01, 2020

    Skadden-Led SPAC Prices $125M IPO To Fund Biotech Buy

    Special purpose acquisition company Panacea Acquisition Corp. debuted in public markets Wednesday after completing a $125 million initial public offering intended to fund a biotechnology acquisition, guided by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Greenberg Traurig LLP.

  • July 01, 2020

    Weil, Latham Guide Analytics Co. D&B's $1.7B Upsized IPO

    Shares for data and analytics service Dun & Bradstreet began trading on the New York Stock Exchange on Wednesday in an upsized initial public offering that raised $1.7 billion — the third largest this year — in a deal advised on by Weil Gotshal & Manges LLP and Latham & Watkins LLP.

  • July 01, 2020

    Kirkland-Guided KKR Pays $260M For Industrial Properties

    Represented by Kirkland & Ellis, KKR said Wednesday it paid $260 million for two industrial distribution properties totaling about 2.5 million square feet located in the Midwest and the South.

  • July 01, 2020

    Carlyle Taps 2 Firms For $235M Indian Data Center Deal

    Carlyle, advised by L&L Partners and Freshfields, will pay $235 million for a stake in the data center business of Indian telecommunications giant Bharti Airtel, the companies said Wednesday, in an agreement that values the unit at $1.2 billion and strengthens the private equity firm's portfolio of data center assets.

  • June 30, 2020

    SEC Urged To Upgrade Disclosures On COVID-19, Diversity

    Market participants on Tuesday urged U.S. Securities and Exchange Commission officials to improve consistency in public company disclosures on matters ranging from how the pandemic is impacting operations to how businesses are addressing social concerns like diversity, so investors can make apples-to-apples comparisons among different companies.

  • June 30, 2020

    Real Estate Rumors: Prologis, Oceanwide, Valley Bank

    Prologis has reportedly paid $24.53 million for a Miami development site, Oceanwide Holdings' roughly $1 billion deal to sell a San Francisco mixed-use project has reportedly hit another delay, and Valley National Bank is said to have loaned $10.55 million for a Florida self-storage project.

  • June 30, 2020

    Pot Co. Cites Force Majeure To Skip Payment On $35M Debt

    A Canadian cannabis holding company with properties in several U.S. states has invoked force majeure to delay an interest payment on $35 million in debt, saying the coronavirus pandemic has made raising capital "virtually impossible."

  • June 30, 2020

    BlackRock Joins Goldfinch Bio's $100M Series B Round

    Kidney disease-focused biotechnology company Goldfinch Bio Inc. has raised $100 million in a financing round led by Eventide Asset Management and attracting new investors including funds managed by BlackRock Investment LLC, in a deal worked on by Ropes & Gray LLP, the company said Tuesday.

  • June 30, 2020

    Ropes Helps B Capital Grab $820M For Sophomore Fund

    B Capital Group, a tech-focused investment firm formed by the co-founder of Facebook and an ex-Bain Capital executive, said Tuesday that it has wrapped up its second fund after securing $820 million from investors, with assistance from Ropes & Gray LLP.

  • June 30, 2020

    Loeb, Shumaker Loop Cook Up $100M BurgerFi Merger

    American restaurant chain BurgerFi agreed to a $100 million merger with private equity affiliated blank check company OPES Acquisition Corp., the companies said Tuesday, in a deal guided by Loeb & Loeb and Shumaker Loop & Kendrick.

Expert Analysis

  • CFIUS Latest Annual Report Reveals Key Enforcement Trends

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    Attorneys at Reed Smith discuss five takeaways from the new annual report of the Committee on Foreign Investment in the United States, which assessed the 229 notices and 21 declarations filed for CFIUS' review in 2018 and provided a first look at the impact of the Foreign Investment Risk Review Modernization Act.

  • SEC's Insider Info Case Shows Perils Of Portfolio Co. Trading

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    The U.S. Securities and Exchange Commission's recently settled enforcement action against Ares Management demonstrates that private fund managers with potential insider info should systematically investigate trading approvals in situations that present a heightened risk of access to material nonpublic information, say attorneys at Debevoise.

  • Opinion

    Time To Consider Percentage Rental Agreements For Lawyers

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    It has long been the law that attorneys cannot use percentage rental agreements because doing so would constitute an impermissible sharing of fees with nonlawyers, but such arrangements can help lawyers match expenses with revenues in lean times like now, say Peter Jarvis and Trisha Thompson at Holland & Knight.

  • 'Settle And Sue' Malpractice Cases Have New Clarity In Calif.

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    A California state appellate court's recent decision in Masellis v. Law Office of Leslie F. Jensen provides a road map for proving causation and damages in settle-and-sue legal malpractice cases — an important issue of long-standing confusion, says Steven Berenson at Klinedinst.

  • The Litigation Risks In Main Street Lending Program

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    Lenders and borrowers in the COVID-19 Main Street Lending Program can steer clear of litigation roadblocks with proactive compliance measures, but the U.S. Department of Justice should also facilitate the program's objectives by issuing a policy statement limiting False Claims Act actions, say Robert Huffman and Caroline Wolverton at Akin Gump.

  • Time To Comply With SEC Regulation Best Interest, Form CRS

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    The compliance date has arrived for two rules adopted by the U.S. Securities and Exchange Commission last year — Regulation Best Interest and the Form CRS Relationship Summary — and there are many regulatory developments and legal questions that in-house counsel and compliance professionals should consider, say attorneys at Eversheds Sutherland.

  • What You Say In Online Mediation May Be Discoverable

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    Mediation conducted online with participants in different states makes it harder to determine where communications were made, increasing the risk that courts will apply laws of a state that does not protect mediation confidentiality, say mediators Jeff Kichaven and Teresa Frisbie and law student Tyler Codina.

  • Prepare For Antitrust Scrutiny Of PIPEs, Partial Acquisitions

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    In light of the regulatory attention on private equity investment activity, as well as the recent decline in M&A activity and increase in private investments in public equity, the Federal Trade Commission or U.S. Department of Justice may decide to examine for the first time a PIPE transaction that raises competitive questions, say Peter McCormack and Laura Sullivan at Kirkland.

  • How COVID-19 Impact Analysis May Shape MAE Disputes

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    Emerging disputes over whether the COVID-19 crisis has triggered a merger transaction’s material adverse effect clause shine a spotlight on the importance of showing whether the pandemic has disproportionately impacted particular industries and companies, say David Tabak and Edward Flores at NERA.

  • 10 Tips For A Successful Remote Arbitration Hearing

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    As I learned after completing a recent international arbitration remotely, with advance planning a video hearing can replicate the in-person experience surprisingly well, and may actually be superior in certain respects, says Kate Shih at Quinn Emanuel.

  • PE Deals Should Consider Gov't Contractors' Small Biz Status

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    Private equity firms targeting government contractors that receive preferential treatment in federal procurement should know how to spot red flags that result in loss of small-business status and the deal structures that mitigate this risk, say Elizabeth Leavy and Robert McCann at Reed Smith.

  • Opinion

    To Achieve Diversity, Law Firms Must Reinvent Hiring Process

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    If law firms are truly serious about making meaningful change in terms of diversity, they must adopt a demographically neutral, unbiased hiring equation that looks at personality traits with greater import than grades and class rank, says Thomas Latino at Florida State University College of Law.

  • What Hong Kong Policy Shift Means For US Finance Cos.

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    Now that the U.S. no longer considers Hong Kong autonomous from China, stateside financial services companies should monitor public company audit reporting, non-U.S. futures and swaps trading, and international capital reporting, say Matthew Kluchenek and Matthew Bisanz at Mayer Brown.

  • Cybersecurity Steps For Law Firms Amid Heightened Risks

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    With large swaths of the population indoors and primarily online, cybercriminals will be able to exploit law firms more easily now than ever before, but some basic precautions can help, says Joel Wallenstrom at Wickr.

  • Opinion

    It's Time For Law Firms To Support Work-From-Home Culture

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    Now that law firms are on board with fully remote work environments, they must develop policies that match in-office culture and align partner and associate expectations, says Summer Eberhard at Major Lindsey.

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