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Private Equity
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April 22, 2025
Court Appoints Monitor In SEC's $1B PE Fraud Case
A Florida federal judge has appointed a founding partner of a Florida law firm to serve as a monitor in the U.S. Securities and Exchange Commission's suit against a private equity firm it says defrauded investors in a $1 billion fund focused on real estate and small business funding.
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April 22, 2025
Del. Justices Order Matterport CEO Cash-Out Recalculation
Delaware's Supreme Court reversed and ordered a recalculation Tuesday for a $79 million Court of Chancery ruling on additional damages and interest due a former CEO of 3D building imaging company Matterport Inc. who challenged his $80 million cash-out in a 2021 go-public sale.
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April 22, 2025
Nuclear Startup To Go Public Through $475M SPAC Deal
Nuclear startup Terra Innovatum said Tuesday it plans to go public at a valuation of $475 million by merging with special purpose acquisition company GSR III Acquisition Corp., joining several industry peers to go public through a SPAC deal.
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April 22, 2025
Willkie Adds Baker Botts Private Equity Experts In Dallas
Willkie Farr & Gallagher LLP is expanding its Texas transactional team, announcing Tuesday it is bringing on a pair of Baker Botts LLP private equity whizzes as partners in its year-old Dallas office.
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April 22, 2025
3 Firms Build $7B Moss Adams, Baker Tilly Merger
Advisory and tax giant Baker Tilly and accounting and wealth management firm Moss Adams LLP have announced plans to merge in a $7 billion deal built by three law firms, in a move the parties say will create the sixth-largest advisory CPA firm in the country.
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April 22, 2025
GCM Grosvenor Wraps $1.3B Infrastructure Advantage Fund
Private equity giant GCM Grosvenor on Tuesday announced that it successfully clinched its second infrastructure advantage fund after securing $1.3 billion of investor commitments.
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April 22, 2025
Generali Launches Secondaries Fund With Partners Group
Italian asset management group Generali Investments said Tuesday that it has launched a new investment fund in partnership with Swiss-based global private equity firm Partners Group AG.
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April 22, 2025
Simpson Thacher-Led KKR Bids $1.2B For Sweden's Biotage
Private equity giant KKR said Tuesday that it has agreed to acquire Swedish life sciences company Biotage AB in an approximately 11.6 billion Swedish krona ($1.2 billion) deal guided by Roschier Advokatbyrå AB, Simpson Thacher & Bartlett LLP and Advokatfirman Vinge.
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April 22, 2025
Mayer Brown, Kirkland Steer $10.6B Boeing Tech Asset Sale
Boeing said Tuesday it has agreed to sell portions of its digital aviation solutions business to software-focused private equity investor Thoma Bravo in a $10.55 billion all-cash transaction steered by Mayer Brown LLP and Kirkland & Ellis LLP.
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April 21, 2025
Trump Media Exec Seeks Penalties In 'Frivolous' Hacking Suit
A board director for President Donald Trump's social media company and his associate urged a Florida federal court to impose sanctions in a "frivolous" lawsuit alleging they hacked a cloud server to steal documents used to oust the former CEO, saying their accusers can't show what information was allegedly taken.
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April 21, 2025
Sports Exec, Cynosure Group Team Up For $1.2B Sports Fund
Private equity shop The Cynosure Group and Dave Checketts, the former owner of the NBA's Utah Jazz, on Monday unveiled a partnership that includes launching a new sports-focused private equity fund, with plans to target $1.2 billion in commitments.
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April 21, 2025
Unions Score Block On Orders To Fire Probationary Workers
A California federal judge blocked the Office of Personnel Management from ordering federal agencies to fire probationary employees and stopped several agencies from heeding its directives, but he declined to order them to rehire the workers they've already let go.
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April 21, 2025
3 Firms Guide Brazilian Energy Producer's $155M SPAC Deal
Brazilian oil refiner PX Energy on Monday agreed to merge with special purpose acquisition company Papaya Growth Opportunity Corp. I in a deal that will take PX public in the United States at an estimated $155 million value, guided by three law firms.
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April 21, 2025
Electra Secures $115M In Funding For Ultra Short Aircraft
Aerospace company Electra.aero Inc. on Monday announced that it has clinched its Series B funding round after securing $115 million from investors, which will help the company enter its preproduction and certification phase of the "first-ever" Ultra Short aircraft.
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April 21, 2025
Navis Capital Partners Clinches $230M Next Generation Fund
Southeast Asian private equity shop Navis Capital Partners said Monday it wrapped its latest fund with $230 million in total commitments.
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April 18, 2025
Latham-Led Vacasa Sticks With Casago, Rejects $131M Bid
Latham & Watkins LLP-advised Vacasa said Friday that its board has rejected a revised acquisition bid from Davidson Kempner Capital Management, indicating that price alone wasn't enough to result in a superior deal to the company's existing agreement with Casago.
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April 18, 2025
Castlelake, Invictus Partner For $2B Residential Loan Venture
Global alternative investment manager Castlelake LP announced that it has formed a partnership with alternative credit asset manager Invictus Capital Partners to invest up to $2 billion in newly originated residential mortgages.
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April 18, 2025
KKR Blasts 'Draconian' DOJ Suit Over Alleged Filing Errors
In a motion to dismiss a U.S. Department of Justice lawsuit that could carry $650 million in penalties, private equity giant KKR accused the government of pursuing "draconian, unconstitutional and unprecedented penalties" over what it called "immaterial ... purported errors" in routine merger filings.
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April 18, 2025
Taxation With Representation: Davis Polk, Simpson Thacher
In this week's Taxation With Representation, Global Payments Inc. buys Worldpay from GTCR and FIS, Intel Corp. sells a stake in its Altera business to Silver Lake, KKR acquires OSTTRA from S&P Global and CME Group, and Canada's Capital Power Corp. nabs two U.S. natural gas power plants.
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April 18, 2025
Alston & Bird Bolsters NY Office With Ex-Sheppard Mullin Atty
Alston & Bird LLP continued to bolster its corporate practice and New York office, announcing Thursday the hiring of a private equity partner formerly with Sheppard Mullin Richter & Hampton LLP.
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April 18, 2025
5 Takeaways From Texas Stock Exchange's SEC Filing
The newly formed Texas Stock Exchange LLC is proposing rules that largely resemble those of the New York heavyweights it seeks to challenge, along with some notable differences, leaving questions on how the exchange will distinguish itself. Here are five takeaways from TXSE's securities filing.
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April 18, 2025
DLA Piper Adds Partner To Investment Funds Practice
Ropes & Gray LLP partner Matt Posthuma has jumped ship to DLA Piper, where he joins the firm's investment funds practice as a partner in its Chicago office.
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April 17, 2025
SolarWinds Sued For Docs On $4.4B Take-Private Deal
Citing company controller clout and alleged minority stockholder sidelining, a SolarWinds Corp. stock-owning trust has sued in Delaware's Court of Chancery for documents related to the company's $4.4 billion, $18.50-per-share take-public deal from Turn/River Capital LP.
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April 17, 2025
Music Rights Orgs. Trade Barbs In Copyright Office Inquiry
The organizations responsible for getting musical artists their royalty payments sparred with each other in comments to the U.S. Copyright Office, with one legacy organization accusing newer entrants of insufficient transparency, and one of those competitors in turn alleging "anticompetitive practices" by the established players.
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April 17, 2025
Lawmakers Probing Fire Truck Manufacturing For PE Harms
A bipartisan pair of senators has launched an investigation into the alleged adverse effects of private-equity driven consolidation in the multibillion dollar fire truck industry.
Expert Analysis
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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How 2025 Is Shaping The Future Of Bank Mergers So Far
Whether the long-anticipated great wave of consolidation in the U.S. banking industry will finally arrive in 2025 remains to be seen, but the conditions for bank mergers are more favorable now than they have been in years, say attorneys at Skadden.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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Opinion
It's Time To Fix The SEC's Pay-To-Play Rule
Nearly 15 years after its adoption, the U.S. Securities and Exchange Commission's pay-to-play rule is not working as intended — a notion recently echoed by SEC Commissioner Hester Peirce — and the commission should reconsider the strict liability standard, raise the campaign contribution limits and remove the look-back provision, say attorneys at WilmerHale.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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Why A Rare SEC Dismissal May Not Reflect A New Approach
While the U.S. Securities and Exchange Commission's pending dismissal of its case against Silver Point is remarkable to the extent that it reflects a novel repudiation of a decision made during the prior commission, a deeper look suggests it may not represent a shift in policy approach, say attorneys at Weil.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Expectations For SEC Exams As Private Credit Market Grows
The U.S. Securities and Exchange Commission may rely heavily on its Division of Examinations for regulating private credit markets amid their expansion into the retail investor space, so investment advisers should be prepared to address several likely areas of focus when confronted with an exam, say attorneys at Dechert.
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5 Merger Deal Considerations In Light Of The New HSR Rules
Now that the new Hart-Scott-Rodino Act rules are in effect, current priorities include earlier preparation for merging parties, certain confidentiality covenants, and key elements of letters of intent and term sheets, say attorneys at Fried Frank.
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What's Potentially In Store For CFTC Under New Leadership
Under the leadership of acting U.S. Commodity Futures Trading Commission Chairman Caroline Pham, and with the nomination of former commissioner Brian Quintenz to serve as permanent chair, the commission is set to widely embrace digital assets and event contracts, say attorneys at Davis Wright.
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Revived Executive Order Is A Deregulatory Boon To Banks
A recently reinstated 2019 executive order reveals the Trump administration’s willingness to provide unprecedented protections for regulated parties — including financial institutions — but to claim them, banks and other entities must adopt a forward-leaning posture to work with the regulators, say attorneys at Davis Wright.
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Opinion
State FCAs Should Cover Local Fund Misuse, State Tax Fraud
New Jersey and other states with similar False Claims Acts should amend them to cover misappropriated municipal funding, and state and local tax fraud, which would encourage more whistleblowers to come forward and increase their recoveries, says Kenneth Levine at Stone & Magnanini.
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Anticipating Calif. Oversight Of PE Participation In Healthcare
A new bill recently introduced in the California Senate revives last year's attempt to increase oversight of healthcare transactions involving private equity groups and hedge funds, meaning that attorneys may soon need to assess the compliance status of existing management relationships and consider modifying contract terms, says Andrew Demetriou at Husch Blackwell.
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Why Acquirers Should Reevaluate Federal Contract Risk
Long thought of as a stable investment, the scale with which the Trump administration is attempting to eliminate federal contracts is unprecedented, and acquirer considerations should include the size and scope of all active and pending government contracts of target companies, say attorneys at Winston & Strawn.