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Private Equity
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May 06, 2025
SEC Panel Says Easier Trading Would Rev Up 'Reg A'
A small business-focused committee advising the Securities and Exchange Commission expressed renewed support on Tuesday for easing secondary trading in connection with Regulation A, hoping to broaden the appeal of this lightly used alternative to an initial public offering.
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May 06, 2025
Kirkland Guides Rotunda Capital On $735M Fund Close
Private equity firm Rotunda Capital Partners said Tuesday it has raised $735 million for its latest fund under the legal guidance of Kirkland & Ellis LLP, surpassing its $550 million target as Rotunda's managing partners called attention to a challenging current fundraising environment.聽
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May 06, 2025
Troutman Welcomes Back Private Funds Vet In Philadelphia
Troutman Pepper Locke has rehired private funds attorney Benjamin Mittman in Philadelphia, bringing back a former special counsel as the firm continues to build out its private equity and investment funds group.
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May 06, 2025
Uber Paying $700M For Majority Stake In Turkey's Trendyol GO
Uber Technologies said Tuesday that it has agreed to acquire an 85% stake in Turkish online food and grocery delivery platform Trendyol GO for $700 million in cash, as it looks to strengthen its position in a fast-growing food and grocery delivery market.
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May 06, 2025
Sidley Adds WilmerHale's Ex-Corp. Chair As Partner In Boston
Sidley Austin LLP has hired two partners from WilmerHale for its emerging companies and venture capital group and capital markets practice.
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May 06, 2025
AB Foods In Talks To Sell Kingsmill To Hovis Owner
Associated British Foods PLC said Tuesday that it is in talks to sell Allied Bakeries, a move that could lead to a kneading together of two leading bread brands.
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May 05, 2025
OpenAI Abandons For-Profit Plan After Musk Suit Is Preserved
OpenAI announced Monday that it was no longer pursuing plans to transition the ChatGPT maker into a for-profit enterprise, changing course just days after a California federal judge refused to throw out the bulk of Elon Musk's suit challenging those plans.
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May 05, 2025
Skadden-Led Crypto Platform EToro Eyes $480M IPO
Crypto-friendly trading platform eToro Group Ltd. on Monday launched plans for an initial public offering that could raise $480 million for the company and its shareholders, marking another sign that the IPO market's recent cold spell is beginning to thaw.
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May 05, 2025
Clifford Chance Adds Paul Weiss Exec Compensation Atty In NY
Clifford Chance LLP has added a Paul Weiss Rifkind Wharton & Garrison LLP transactional attorney in New York as co-chair of its U.S. executive compensation practice, the firm announced Monday.
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May 05, 2025
Exactech Committee Calls Foul On Ch. 11 Voting Packages
The official committee of unsecured creditors in Exactech Inc.'s Chapter 11 case told a Delaware bankruptcy judge that the company's solicitation packages sent to tort claimants violate court-approved procedures by requiring them to submit five separate ballots for their votes to be counted.
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May 05, 2025
Skechers Inks $9.4B Take-Private Deal Guided By 3 Firms
Private equity firm 3G Capital will take footwear giant Skechers private for $9.4 billion in a deal guided by three law firms amid an ongoing trade war that has rattled retailers, the parties announced Monday.
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May 05, 2025
Proskauer Adds 2 Finance Partners From A&O Shearman
Proskauer Rose LLP has added two former Allen Overy Shearman Sterling partners for its growing global finance practice in New York, the firm announced Monday.
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May 05, 2025
5 Firms Pilot Pershing Square's $900M Howard Hughes Deal
Hedge fund Pershing Square will grow its ownership stake in Howard Hughes Holdings and expand the company's business lines beyond real estate development in a $900 million deal put together by five law firms, the companies said Monday.
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May 05, 2025
Coal Miner Says It Must Liquidate Without Creditor Deal
Counsel for the owners of Heritage Coal told a Delaware bankruptcy judge聽on Monday that if secured and unsecured creditors cannot reach a deal by Tuesday, the company will have to move to convert its bankruptcy from a Chapter 11 to a Chapter 7 liquidation.
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May 02, 2025
Gores Group's Latest SPAC Leads 3 IPOs Totaling $792M
Gores Holdings X Inc., the latest of several special purpose acquisition companies formed by private equity firm The Gores Group, began trading Friday after pricing an upsized $312 million IPO, the largest of three new SPAC listings totaling $792 million.
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May 02, 2025
Musk Can Pursue Most Claims Against OpenAI, Microsoft
Microsoft, OpenAI and several of their affiliates cannot escape the bulk of Elon Musk's lawsuit accusing the companies of swindling him by transitioning the ChatGPT maker into a for-profit enterprise, a California federal judge ruled.
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May 02, 2025
Trade War Spurs Companies To Freshen Disclosure Playbooks
Against the backdrop of a protracted trade war that has rattled investors, companies are honing their securities filings and public communications strategies, posing fresh challenges for corporations and their lawyers, who are otherwise accustomed to navigating global disruptions.
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May 02, 2025
Debevoise Guides Ara Partners On $800M Low-Carbon Fund
Ara Partners has raised more than $800 million for its first infrastructure fund, aimed at cutting carbon emissions from the industrial economy, with legal guidance from Debevoise & Plimpton LLP.
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May 02, 2025
Sidley Adds 10 A&O Shearman Attys In DC, NY, Singapore
Sidley Austin LLP has hired 10 attorneys from Allen Overy Shearman Sterling in New York, Washington, D.C., and Singapore, including the U.S. leader of the firm's financial services regulatory group.
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May 02, 2025
Off The Bench: DC Stadium, BetMGM Victory, Transfer Rules
In this week's Off The Bench, the Washington Commanders strike a deal to build a new stadium in D.C., BetMGM fends off a consumer fraud suit targeting its gambling promotion efforts and a Rutgers University football player scores another win against the NCAA's transfer rules.
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May 02, 2025
3 Firms Guide As HGGC Takes Majority Stake In BofA Spinoff
Private equity firm HGGC has acquired a majority stake in valuation and compensation advisory firm Equity Methods from Montage Partners, in a deal steered by three law firms, Equity Methods confirmed Friday.
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May 02, 2025
Taxation With Representation: Goodwin, Haynes Boone
In this week's Taxation With Representation, Merck buys SpringWorks Therapeutics, Novartis AG acquires Regulus Therapeutics Inc., Sabre Corp. sells its Hospitality Solutions business to private equity shop TPG, and TWG Global and Mubadala Capital team up to bolster their investments.
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May 01, 2025
Apollo Raises $8.5B For Credit Strategy, Including $4.8B Fund
Private equity giant Apollo, advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Thursday said that it closed on $8.5 billion in total commitments for its Accord+ strategy, including a $4.8 billion fund.
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May 01, 2025
Chancery Finds Contract Bars Appeal In Med Co. Merger
Private equity-tilted limited liability company contract terms beat minority investor challenges to the fairness of the $8.9 billion merger in January 2023 that joined Summit Health-CityMD and VillageMD, a Delaware vice chancellor ruled late Wednesday.
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May 01, 2025
蜜桃视频, Lenders Float Deal To Vacate Medical Debt Rule
The Consumer Financial Protection Bureau has agreed to a proposed consent judgment that would vacate a Biden-era rule banning an estimated $49 billion in medical debt from credit reports, striking a deal with lender trade groups that sued in Texas federal court to block the rule.
Expert Analysis
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Mental Health First Aid: A Brief Primer For Attorneys
Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.
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8 Issues AI Firms May Encounter As M&A Action Accelerates
As the AI merger climate heats up, potential complications may arise, including antitrust scrutiny, talent retention agreements, and aggressive and protective deal terms intended to compensate for lofty valuations, say Scott Schwartz and Kishan Barot at Manatt.
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Series
Collecting Art Makes Me A Better Lawyer
The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.
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Secret Service Failures Offer Lessons For Private Sector GCs
The Secret Service鈥檚 problematic response to two assassination attempts against former President Donald Trump this summer provides a crash course for general counsel on how not to handle crisis communications, says Keith Nahigian at Nahigian Strategies.
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Building US-Japan Relationships In The M&A Market
The prospect of U.S.-Japanese mergers and acquisitions presents stronger competition to U.S. investors in the global M&A markets, while also opening up an additional exit route for sellers looking to offload strategic assets, says Nick Wall at A&O Shearman.
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Litigation Inspiration: Honoring Your Learned Profession
About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals 鈥 and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.
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Opinion
AI May Limit Key Learning Opportunities For Young Attorneys
The thing that鈥檚 so powerful about artificial intelligence is also what鈥檚 most scary about it 鈥 its ability to detect patterns may curtail young attorneys鈥 chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.
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Series
Round-Canopy Parachuting Makes Me A Better Lawyer
Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.
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SEC Settlement Holds Important Pay-To-Play Lessons
The U.S. Securities and Exchange Commission鈥檚 recent fine of an investment adviser, whose new hire made a campaign contribution within a crucial lookback period, is a seasonable reminder for public fund managers to ensure their processes thoroughly screen all associates for even minor violations of the SEC鈥檚 strict pay-to-play rule, say attorneys at Lowenstein Sandler.
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Boeing Ruling Is A Cautionary Tale For Trade Secret Litigants
A Washington federal court鈥檚 recent ruling canceling a $72 million jury award against Boeing because Zunum Aero had failed to properly identify its trade secrets highlights the value of an early statement of alleged secrets, amended through discovery and used as a framework at trial, says Matthew D'Amore at Cornell.
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What To Expect From Calif. Bill Regulating PE In Healthcare
A California bill currently awaiting Gov. Gavin Newsom's approval, intended to increase oversight over private equity and hedge fund investments in healthcare, is emblematic of recent increased scrutiny of investments in the space, and may affect transactions and operations in California in a number of ways, say attorneys at Ropes & Gray.
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Why Now Is The Time For Law Firms To Hire Lateral Partners
Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners 鈥 though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Considering Possible PR Risks Of Certain Legal Tactics
Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.
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It's No Longer Enough For Firms To Be Trusted Advisers
Amid fierce competition for business, the transactional 鈥渢rusted adviser鈥 paradigm from which most firms operate is no longer sufficient 鈥 they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.
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7 Takeaways For Investment Advisers From FinCEN AML Rule
With a new FinCEN rule that will require covered investment advisers to implement anti-money laundering programs and comply with extra recordkeeping requirements by 2026, companies should begin planning necessary updates to their policies and procedures by focusing on seven of the rule鈥檚 key requirements, identified by attorneys at Simpson Thacher.