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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 Advokatbyr氓 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聽Mayer Brown LLP and Kirkland & Ellis LLP.聽
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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聽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聽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
麻豆传媒makers 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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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 麻豆传媒yer
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 麻豆传媒 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.
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Mitigating Risk In Net Asset Value Facility Bankruptcies
In times of economic turbulence, parties to bankruptcy proceedings that involve net asset value facilities can mitigate risk by understanding the purpose of the automatic stay, complications it can create for NAV facility lenders and options for relief, say attorneys at Mayer Brown.
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What VC Fund Settlement Means For DEI Grant Programs
An unexpected settlement in American Alliance for Equal Rights v. Fearless Fund, based on specific details of an Atlanta venture capital fund's challenged minority grant program, leaves the legal landscape wide open for organizations with similar programs supporting diversity, equity and inclusion to chart a path forward, say attorneys at Moore & Van Allen.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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A Preview Of AI Priorities Under The Next President
For the first time in a presidential election, both of the leading candidates and their parties have been vocal about artificial intelligence policy, offering clues on the future of regulation as AI continues to advance and congressional action continues to stall, say attorneys at Mintz.
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown 麻豆传媒.