Private Equity

  • November 21, 2019

    New Barnes & Noble Owner 'Purged' Older Workers, Suit Says

    Barnes & Noble's new "vulture fund" owners have implemented a cost-saving strategy that depends on the "ruthless and unscrupulous purging" of workers over the age of 40, a former worker said in a proposed class action filed Wednesday.

  • November 21, 2019

    Apple, Intel Fight Alleged Backer Of 'Meritless Patent' Scheme

    Intel has rejiggered its lawsuit against investment management firm Fortress Investment Group LLC in California federal court, dropping its initial complaint in order to file a new one backed by Apple against the firm’s alleged funding of an anti-competitive patent aggregation scheme.

  • November 21, 2019

    Deals Rumor Mill: Hudson's Bay, Charles Schwab, DoorDash

    A private equity firm is hoping to usurp the previously announced deal for Hudson’s Bay worth about $1.4 billion, Charles Schwab could pay $25 billion to buy smaller rival TD Ameritrade, and DoorDash is considering a direct listing instead of an IPO. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • November 21, 2019

    AI Startup’s Value Doubles To $2.5B After Series C Round

    Data mining startup Celonis announced Thursday it completed a $290 million Series C funding round led by Arena Holdings, lifting the company’s valuation to $2.5 billion.

  • November 21, 2019

    REIT Acquires Brookfield Warehouse Operator For $253M

    Americold Realty Trust, a REIT focused on temperature-controlled warehouses, said Thursday it has agreed to acquire the Canadian warehouse operator Nova Cold Logistics from Brookfield Business Partners in a deal worth CA$337 million ($253 million).

  • November 21, 2019

    Investcorp Makes $800M Play For 126 Industrial Properties

    Investcorp on Thursday unveiled an $800 million deal for a portfolio of 126 industrial properties that span five states, marking just the latest real estate investment for the firm. 

  • November 21, 2019

    Media-Focused PE Shop Taps Kirkland For $775M Fund Group

    Middle-market private equity shop ZMC, advised by Kirkland & Ellis, said Thursday it has completed fundraising for its third group of funds after picking up $775 million from limited partners, with plans to target investments in tech-enabled media and communications companies.

  • November 20, 2019

    Harvest Health Walks Away From $225M Financing Deal

    Arizona-based cannabis giant Harvest Health & Recreation said Wednesday that it has walked away from a $225 million financing deal and scaled back plans to acquire cannabis licenses in several states.

  • November 20, 2019

    TPG Co. Drops $71.3M On Atlanta-Area Business Park

    A company owned by TPG Real Estate has purchased a 981,720-square-foot industrial and business park in Georgia from Sperry Equities for $71.25 million, according to an announcement on Wednesday from Sperry’s broker Jones Lang LaSalle.

  • November 20, 2019

    Real Estate Rumors: Blackstone, Federal Realty, Argentic

    Blackstone has reportedly leased out about 110,000 square feet in Illinois to Bosch, Federal Realty Investment Trust is said to have paid $85 million for a Brooklyn shopping center, and Argentic has reportedly loaned $30.5 million for properties in Brooklyn and Queens.

  • November 20, 2019

    Hologic Inks $205M Sale Of 'Underperforming' Med Tech Co.

    Hologic detailed plans Wednesday to sell its "underperforming" medical aesthetics company Cynosure for $205 million to private equity firm Clayton Dubilier & Rice, in a deal steered by Wachtell and Debevoise.

  • November 20, 2019

    Ellenoff Grossman-Steered Blank Check Cos. Bag $230M IPOs

    A pair of blank check companies began trading Wednesday after raising a combined $230 million in initial public offerings steered by Ellenoff Grossman & Schole LLP.

  • November 20, 2019

    Cancer Treatment Startup Raises $56M In Funding

    Werewolf Therapeutics, a Massachusetts-based biotherapeutics startup, said Wednesday it raised $56 million in Series A funding to help fund cancer treatment development.

  • November 20, 2019

    Private Equity Firm Escapes Envision Investor Suit

    Private equity firm Clayton Dubilier & Rice LLC was excused from a proposed shareholder class action accusing Envision Healthcare Corp. of lying about its billing practices Tuesday after a Tennessee federal judge found that there was not enough evidence against CD&R.

  • November 20, 2019

    Avery Dennison Pays €225M For Smartrac's Transponder Biz

    Label and packaging solutions company Avery Dennison Corp. has agreed to buy the radio frequency identification transponder business of private equity-backed Dutch firm Smartrac NV for €225 million ($248.9 million), the companies said Wednesday.

  • November 20, 2019

    Debevoise Helps PE Firm Clinch €975M Euro Health Care Fund

    London-headquartered Global Healthcare Opportunities Capital Partners LLP, working with Debevoise & Plimpton, has clinched its second fund after raising €975 million ($1.08 billion), in what represents the largest ever PE fund dedicated to European health care investments, the firm said Wednesday.

  • November 19, 2019

    EU Watchdog Taking Closer Look At €380M Recycling Biz Deal

    Europe’s antitrust watchdog is launching an in-depth investigation into German rolled-copper manufacturer Aurubis’ €380 million ($424 million) plan to buy the copper scrap refiner Metallo Group, it said.

  • November 19, 2019

    GreenVision Targets Health Care Acquisition After $50M IPO

    Blank check company GreenVision Acquisition Corp. debuted in public markets on Tuesday after completing an initial public offering that raised $50 million, money that GreenVision said it plans to spend on acquiring a health care or life sciences company.

  • November 19, 2019

    Awash In Cash, Litigation Funders Eager To Strike Deals

    A first-of-its-kind "buyer's guide" for the litigation funding industry shows the money raised from investors to back legal cases is far outstripping actual investments.

  • November 19, 2019

    From India, Accused Insider Trader Says He's No Fugitive

    A man who left the U.S. for India after being charged with insider trading asked a Massachusetts federal judge Tuesday to reconsider a $9 million bond forfeiture, arguing that he is not, despite the judge’s opinion to the contrary, a fugitive.

  • November 19, 2019

    Counseling PE Clients Hungry For US Cannabis Investment

    Although private equity investment in U.S. cannabis companies is down this year as fund managers grapple with federal opposition to legalization and banks remain wary of getting involved, attorneys must be ready to advise on pot-related deals because the drought is destined to end.

  • November 19, 2019

    UK Set To OK Advent-Cobham Deal With Company Promises

    The British government said Tuesday it is likely to approve private equity firm Advent International Corp.'s £4 billion ($5.17 billion) takeover of U.K. defense company Cobham PLC after the companies offered concessions to allay regulators' national security concerns about the deal.

  • November 19, 2019

    Small Business Fintech Co. Raises $102.5M In Funding

    BlueVine, a Silicon Valley-based fintech startup focused on small business banking, said Tuesday it had raised $102.5 million in Series F funding to further develop its banking platform.

  • November 19, 2019

    Lumenis Nabs $1B Value In Sale To Baring PE Asia

    Baring Private Equity Asia announced Tuesday that it will buy medical device company Lumenis in a deal that pegs the enterprise value of the Israeli company at over $1 billion.

  • November 19, 2019

    HIG Capital Rakes In $3.1B For 3rd Middle-Market PE Fund

    Private equity firm HIG Capital said Tuesday that it has clinched its third middle-market leveraged buyout vehicle after securing $3.1 billion from limited partners, with plans to target controlling investments in North America-based companies that the firm believes can benefit from its expertise and financial backing.

Expert Analysis

  • Warren Bill Presents Powerful Headwinds For Private Equity

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    If passed, Sen. Elizabeth Warren's private equity reform bill would protect companies being purchased by private equity, but impose significant restrictions on funds by eliminating the liability shield and favorable tax treatment they currently enjoy, say Jon Brose and Kevin Neubauer at Seward & Kissel.

  • 7 Steps For Managing Private Equity Whistleblower Risk

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    In light of the U.S. Securities and Exchange Commission's report last week that whistleblower payouts have declined, private equity firms — which face unique risks — should shore up policies to encourage internal reporting and discourage retaliation, say attorneys at Kirkland.

  • How To Hire Lateral Partners More Effectively

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    Although lateral partner hiring is the preferred method of inorganic growth among law firms, the traditional approach to vetting does not employ sufficient due diligence by the hiring firm, says Michael Ellenhorn at executive search firm Decipher Competitive Intelligence.

  • Texas Could Take Page From Mass.'s Judicial Selection Book

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    As Texas and other states review their judicial election processes, they would be well served by taking guidance from Massachusetts' Governor’s Council system, which protects the judiciary from the hazards of campaigning, says Richard Baker of New England Intellectual Property.

  • Series

    Judging A Book: McKeown Reviews 'Conversations With RBG'

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    Reading Jeffrey Rosen’s "Conversations With RBG: Ruth Bader Ginsburg on Life, Love, Liberty, and Law" is like eavesdropping on the author and his subject while they discuss how the restrained judicial minimalist became the fiery leader of the opposition, says Ninth Circuit Judge M. Margaret McKeown.

  • SEC Marketing Rule Changes Increase Flexibility For Advisers

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    The U.S. Securities and Exchange Commission's recently proposed amendments to modernize its advertising and cash solicitation rules are significant for registered investment advisers because they show the SEC’s efforts to adapt to evolving technology, expectations and industry practices in regulating marketing activities, say attorneys at Davis Polk.

  • Where A Litigator's Advice Can Improve Agreement Drafting

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    Transactional attorneys should consider consulting with litigation counsel when drafting certain contractual provisions — choice of law, choice of forum, attorney fees and others — that could come into play in a broad range of substantive disputes, says Adrienne Koch at Katsky Korins.

  • Opportunities Abound In Patent Litigation Funding At The ITC

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    The recent funding of a patent infringement claim brought by the University of California Santa Barbara demonstrates the advantages of the U.S. International Trade Commission as a venue, where creative intellectual property owners and litigation financers may find lucrative opportunities, despite a few hurdles, say Matt Rizzolo and Hyun-Joong (Daniel) Kim of Ropes & Gray.

  • Opinion

    Flat-Fee Legal Billing Can Liberate Attorneys

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    Replacing hourly billing with flat-fee arrangements, especially for appellate work, will leave attorneys feeling free to spend as much time as necessary to produce their highest quality work, says Lawrence Ebner of Capital Appellate Advocacy.

  • Spoliation Rule Remains Ambiguous Despite Amendments

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    Although the Federal Rules of Civil Procedure were amended to provide a uniform standard of culpability for spoliation, cases with similar facts are still reaching differing results because the rule does not specify how a court should evaluate a party's intent, say attorneys at Pepper Hamilton.

  • SEC's Fraud Enforcement Shows Quality, If Not Quantity

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    Over the course of the U.S. Securities and Exchange Commission's recently ended fiscal year, the regulator's Division of Enforcement fulfilled its promise to emphasize quality over quantity in cases alleging misrepresentations of financial performance by covering a wide swath of accounting, disclosure, internal control and auditor independence issues, say attorneys at Perkins Coie.

  • 5 Trends Influencing RFPs For Law Firms

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    Requests for proposals, the standard tool of companies evaluating law firms, are becoming better suited to the legal industry, says Matthew Prinn of RFP Advisory Group.

  • Private Equity Wants To Buy Your Asbestos Liabilities

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    BorgWarner's deal to sell off its asbestos liabilities this week confirms that such sales are a viable corporate strategy that can be less expensive than, and offer disclosure advantages over, prepackaged bankruptcy and loss portfolio insurance. But they still come with a cost, and can raise trust and security issues, says Stephen Hoke of Hoke LLC.

  • 2 Del. Decisions Call Out Conflicted Controlling Stockholders

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    In Tornetta v. Musk and the BGC Partners Derivative Litigation, the Delaware Chancery Court has reaffirmed that concerns over controlling stockholders may be valid even when the controller didn't intend to exercise coercive influence, independent directors negotiated a transaction, or stockholders approved the transaction, say attorneys at Fried Frank.

  • What Industry, Investors Think Of The Proposed CFIUS Regs

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    Comments on the U.S. Department of the Treasury's proposed regulations to expand and modernize the Committee on Foreign Investment in the United States offer insight into investment community concerns and questions, as well as alternatives that would affect U.S. and foreign entities alike, say attorneys at Simpson Thacher.