Private Equity

  • August 20, 2019

    Canada Settles Challenge To PE Firm's Software Buy

    Canada’s competition enforcer on Tuesday dropped its challenge of Thoma Bravo LLC’s recent purchase of oil and gas software provider Aucerna, after the private equity firm agreed to sell another portfolio company’s competing product.

  • August 20, 2019

    Bankruptcy Tech Co. Owner Looks To Duck Antitrust Suit

    The owner of a bankruptcy software provider urged a New Jersey federal court Monday to toss a suit accusing it of maintaining a conspiracy to inflate fees charged in Chapter 7 bankruptcy cases, saying the issue has already been litigated.

  • August 20, 2019

    Deals Rumor Mill: Saudi Aramco, Cigna, Avaya

    Saudi Aramco has picked banks to assist on its planned $100 billion IPO, Cigna is looking to sell a group benefits insurance business that could be worth up to $6 billion, and a private equity firm is looking to usurp Mitel’s planned offer for California technology company Avaya.

  • August 20, 2019

    Gilead Blasts $825M Monotype Take-Private Deal

    Monotype minority shareholder Gilead Capital slammed the typeface company’s planned $825 million take-private deal in a letter Tuesday, contending the board should print its proxy statement in Comic Sans font to showcase what a "mockery" the sales process was. 

  • August 20, 2019

    Cooley Reps Student Loan Co. In $100M Debt Financing

    MPower, which provides educational loans to international and Deferred Action for Childhood Arrivals program students, said Tuesday it raised $100 million in debt from Goldman Sachs with the help of Cooley.

  • August 20, 2019

    Ares Nabs €1.78B For Europe-Focused Real Estate Fund

    Ares Management Corp. said Tuesday that it closed the largest real estate private equity fund in firm history after receiving €1.78 billion ($1.97 billion) from limited partners, with plans to target undermanaged or underfunded properties across Europe.

  • August 20, 2019

    Dallas PE Fund Scores $4.1M From Insurer In Texas Appeal

    A Texas appellate court awarded private equity fund Prophet Equity $4.1 million from an insurer on Monday and reversed the insurer’s win in a dispute over whether it was required to pay to defend the fund in a fight with a former employee.

  • August 19, 2019

    Chancery Tosses Suit Claiming Energy Co. Loan-To-Own Plot

    A string of fatal flaws — including sold-away shares and standing to sue — led to dismissal Monday of a Chancery Court suit accusing private equity investors of exploiting loans and stock warrants to gain control of a clean-energy finance business.

  • August 19, 2019

    Deals Rumor Mill: Apollo Global, GoHealth, Avaya

    Apollo Global is eyeing broadcasting company Tegna Inc., Centerbridge Partners is close to snapping up a large stake in health insurance technology company GoHealth, and Avaya Holdings Corp. is mulling an offer from Mitel Networks.

  • August 19, 2019

    Chemical Cos. Defend $625M Merger Against FTC

    Evonik Industries AG hit back against the Federal Trade Commission’s bid to block its $625 million purchase of PeroxyChem Holding Co. on Friday, telling a D.C. district court that the agency’s allegations about the hydrogen peroxide market are not based in reality.

  • August 19, 2019

    4 Life Science Cos. Lead 5 IPO Filings Totaling $476M

    Four life science companies and a financial services provider have filed initial public offerings preliminarily projected to raise a combined $476 million, adding to a growing pipeline of deals that could price after Labor Day and restart IPO activity after the customary August slowdown.

  • August 19, 2019

    Budget Hotel Startup Books $70M In Series C Funding Round

    Hotel booking and management startup RedDoorz said Monday it has raised $70 million in a Series C funding round, which will go toward several expansion projects including the construction of a second tech hub in Vietnam.

  • August 19, 2019

    Real Estate Rumors: Jones Day, Stag Industrial, Stockbridge

    Jones Day is reportedly leasing four floors at an under-construction Chicago tower, Stag Industrial is said to have picked up three Wisconsin properties for $13.9 million, and Stockbridge Capital has reportedly bought five Florida warehouses for $116.5 million.

  • August 19, 2019

    Harrison Street Closes $1.6B Senior Housing-Focused Fund

    Chicago-based Harrison Street Real Estate Capital said Monday that it has closed its seventh real estate-focused fund with $1.6 billion in commitments that will be used to invest in senior and student housing and health care sectors, among others.

  • August 19, 2019

    3 Firms Guide Catalyst's $140M Deal For Hudson's Bay Stake

    Catalyst Capital is buying a 10.05% stake in Hudson's Bay for roughly CA$187 million ($140.4 million) with help from McMillan, Brown Rudnick and Latham & Watkins, the private equity firm said Monday.

  • August 19, 2019

    Starwood's Mortgage REIT Wraps Up $1.1B CLO

    Starwood Property Trust has clinched a $1.1 billion commercial real estate collateralized loan obligation, the mortgage real estate investment trust run by Greenwich, Connecticut-based private investment firm Starwood Capital Group said on Monday.

  • August 19, 2019

    Online Mortgage Lender Better.com Lands $160M In Funding

    Digital mortgage startup Better.com said Monday it had raised $160 million in a Series C funding round, with backers including Activant Capital, Citi and American Express Ventures.

  • August 19, 2019

    Jones Day, Latham Guide $775M Sale Of PVC Biz To PE Firm

    Private equity firm SK Capital Partners, working with Latham & Watkins, has agreed to buy a subsidiary of Jones Day-advised polymer manufacturer PolyOne Corp. for $775 million in cash, the companies said Monday.

  • August 16, 2019

    Deals Rumor Mill: JD.com, MPI, Apollo Global

    JD.com could take its online supermarket joint venture public, KKR, Blackstone and CVC are said to have bid for a stake in Metro Pacific Investments’ hospital unit, and Apollo Global reportedly wants to raise upward of $1 billion for an inaugural social impact fund.

  • August 16, 2019

    Tech Unicorn, Orthodontics Biz File IPOs Totaling $200M

    Website security and optimization platform Cloudflare and teeth-straightening company SmileDirectClub this week filed to raise up to a combined $200 million in initial public offerings guided by Wilson Sonsini and Skadden, respectively.

  • August 16, 2019

    Sam Chang Lands $83M Loan For Manhattan Hotel

    Hotel developer Sam Chang of McSam Hotel Group LLC has landed $83 million in financing for a hotel on West 51st Street in Manhattan, according to an announcement Friday from Madison Realty Capital, which provided the loan.

  • August 16, 2019

    Sterigenics Emissions Suits Kicked Back To Ill. State Court

    An Illinois federal judge has kicked back to state court a host of lawsuits claiming that sterilization company Sterigenics emitted cancer-causing chemicals from a local facility, finding that the cases focus on state law rather than federal law.

  • August 16, 2019

    Horizon To Sell Asia-Pacific Unit To Aussie PE Firm For $230M

    Towing and trailer equipment manufacturer Horizon Global said Friday it will sell its Asia-Pacific unit to Australian private equity firm Pacific Equity Partners for AU$340 million ($230 million).

  • August 16, 2019

    Don't Miss It: Hogan Lovells, Kirkland Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Hogan Lovells and Kirkland & Ellis. Here, Law360 recaps the ones you might have missed.

  • August 16, 2019

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

    The past week has seen one of Italy's largest banks sue Venice over a derivatives contract, a U.K. investment manager continue its commission fee dispute with a broker and a U.S.-based fund manager hit Argentina with a securities claim. Here, Law360 looks at those and other new claims in the U.K.

Expert Analysis

  • Crisis Messaging To Protect Law Firm Brand And Bottom Line

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    When crises occur, such as data security incidents or gender bias suits, a well-prepared law firm has a thoroughly tested communications plan at the ready, which ensures the firm is the most proactive news source, prevents the crisis from escalating and notifies stakeholders about mitigation efforts, says Zach Olsen at Infinite Global.

  • Perspectives

    What You Should Know About Courtroom Closures

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    At attorney Greg Craig’s trial in D.C. federal court this week, the courtroom was cleared so prospective jurors could answer sensitive questions. Even seasoned litigators were left wondering about the nature of this subtle, yet significant, issue involving Sixth Amendment public trial rights, says Luke Cass at Quarles & Brady.

  • Private M&A Indemnification Clarified In Chancery Ruling

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    In Hill v. LW Buyer, the Delaware Chancery Court's opinion underscores the importance of including as much detail as possible in M&A parties' indemnification claims and submitting them in a timely manner to preserve their indemnification rights, says Sawyer Duncan at King & Spalding.

  • 4 Working Capital Safe Harbors For QOZ Startups

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    To avoid devastating penalties that can be triggered due to conflicting use and timing requirements under the new qualified opportunity zone regime, real estate investors should ensure qualified opportunity funds include certain provisions, says Tucker Thoni at GrayRobinson.

  • Series

    Why I Became A Lawyer: A Seaweed Scientist's Odyssey

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    In the early 1980s, I was working on my Ph.D. in marine biology and ecology. As part of an international team of scientists studying oil spill impacts on marine ecosystems, I saw a niche opportunity to combine science and law, says Andrew Davis of Shipman & Goodwin.

  • 3rd Circ. Decision Limits Liability Of Board Observers

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    The Third Circuit's ruling that nonvoting board observers did not carry the same fiduciary duties as actual board members in Obasi Investment v. Tibet Pharmaceuticals holds broad applicability for private equity, venture capital funds and other third parties that frequently designate board observers, say attorneys at White and Williams.

  • Opinion

    Clients Benefit From Law Firm Expense Growth

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    Although there continue to be corporate clients who are seduced by the idea that cheapest is always best when it comes to outside counsel, there are many negative implications on service delivery that result from myopically focusing only on cost reduction at the expense of quality and innovation, says Keith Maziarek at Katten Muchin.

  • Opinion

    Changing Ethics Rules Is Key To Law Firm Innovation

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    As demonstrated by the California bar proposal to allow nonlawyers to invest in law firms, we can change the legal ethics rules in a way that protects clients while permitting firms to innovate and serve clients better, say Todd Richheimer of ​​​​​​​Lawfty and Peter Joy of Washington University Law School.

  • Series

    Judging A Book: Castillo Reviews 'Raising The Bar'

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    A timely new book, “Raising the Bar: Diversifying Big Law," is one of the first honest assessments of the challenging battleground for people of color at large law firms, and I hope that firm management committee members read it, says U.S. District Judge Rubén Castillo of the Northern District of Illinois.

  • A Look At ILPA's New Best Practices For PE Partners

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    The latest iteration of the Institutional Limited Partners Association's private equity guidelines include recommendations on a significantly expanded set of topics and provide additional detail on a number of topics covered previously, say Andrew Chizzik and Sarah Borden at Weil.

  • Debunking 3 Myths About Contract Attorneys

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    Although contract attorneys represent a quality source of legal work, inaccurate assumptions cause many legal departments and law firms to hesitate when considering them, say Matthew Weaver and Shannon Murphy of Major Lindsey.

  • Compliance Imperatives For Defensible Data Disposal

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    Companies in a host of industries have recently faced steep compliance fines for data breaches from domestic and international regulators. Defensible disposal of corporate data presents an excellent opportunity to mitigate the impact of these data-driven risks, says Julia Brickell of H5.

  • A Litigator’s Reflections From The Arbitrator’s Chair

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    The U.S. Supreme Court's opinions this term in Henry Schein and Lamps Plus remind us of the fundamental difference between arbitration and litigation. Yet, as a commercial litigator who serves as a neutral arbitrator, I have observed that experienced litigators often fail to adapt their approach in arbitration, says Paula Litt at Honigman.

  • 5 Hard Phrases Lawyers Should Master

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    While Kelly Corrigan's popular book, "Tell Me More: Stories About the 12 Hardest Things I’m Learning to Say," focuses on simple words or phrases that individuals can use to improve their personal lives, attorneys can utilize Corrigan's advice for professional benefit, says Karen Ross of Tucker Ellis.

  • Opinion

    Securities Litigation Should Not Be Based On Junk Science

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    Federal securities litigation should reject the junk science of the so-called Cammer factors — none of which truly help establish whether the market for a security at issue is efficient — and return to the commonsense approach of the earliest fraud-on-the-market cases, says researcher J.B. Heaton.