Archives: Private Equity

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Has Private Equity Lost Its Appetite for Buyouts?

The latest analysis by PitchBook would indicate buyout activity is trending down as deal volume and values continue to slide from recent quarters. In the latest report, the triggers for the current market is discussed covering EBITA multiples, debt levels and valuations, as well as where opportunities exist based on the transactional activities of private … Continue Reading

International News: Focus on Private Equity

McDermott Will & Emery recently published its latest issue of International News, which covers a range of legal developments of interest to those operating internationally. This issue focuses on Private Equity. Read the full issue. Focus on Private Equity The Impact of Regulatory Changes on Private Equity Firms Taking Advantage of the Consequences of Delisting … Continue Reading

Independent Contractor and Exempt Employee Classification Review Should Include Joint-Employer Status

Private equity often looks to control costs in its portfolio companies through the utilization of joint employees. This On The Subject provides tips and guidelines for private equity firms and their operating companies during a review of its employee classification. Read the full article.… Continue Reading

Focus on Private Equity – July 2015

McDermott Will & Emery has released the latest Focus on Private Equity, which provides insight on issues surrounding private equity transactions and the investment life cycle across industries. Articles in this issue include: What Private Equity Funds Should Know about ERISA Managers of private equity funds who are responsible for investing the assets of a fund … Continue Reading

Focus on Private Equity – April 2015

McDermott Will & Emery has released the October 2014 issue of Focus on Private Equity, which provides insight on issues surrounding private equity transactions and the investment life cycle across industries. Articles in this issue include: The Use of Alternative Credit in Europe As a result of the reduced availability of conventional credit from lending … Continue Reading

Focus on Private Equity – October 2014

McDermott Will & Emery has released the October 2014 issue of Focus on Private Equity, which provides insight on issues surrounding private equity transactions and the investment life cycle across industries. Articles in this issue include: Proposed EU Merger Review of Non-Controlling Minority Shareholding Acquisitions: Challenges and Opportunities for Private Equity A recently proposed plan … Continue Reading

Focus on Private Equity – July 2014

McDermott Will & Emery has released the July 2014 issue of Focus on Private Equity, which provides insight on issues surrounding private equity transactions and the investment life cycle across industries.  Articles in this issue include: Latin American Private Equity on the Rise Favorable macroeconomic trends and positive regulatory developments continue to make Latin America an attractive destination … Continue Reading

Focus on Private Equity – April 2014

McDermott Will & Emery has released the April 2014 issue of Focus on Private Equity, which provides insight on issues surrounding private equity transactions and the investment life cycle across industries.  Articles in this issue include: Private Equity Firms Face Potential Liability Under Plant Closing Laws Private equity firms risk potential liability for Worker Adjustment … Continue Reading

Key Takeaways from McDermott’s 2014 HPE Symposium

The eighth annual McDermott Will & Emery Healthcare Services Private Equity (HPE) Symposium was held on March 12-13, 2014, at the JW Marriot Marquis in Miami, Florida. McDermott’s Health and Private Equity practices hosted a record crowd of over 350 top private equity professionals, investment bankers and company management teams from around the country. Speakers … Continue Reading

Insights for Driving Value Through Operational Performance of Private Equity Investments

The 13th annual Beecken Petty O’Keefe & Company Private Equity Conference took place on Friday, February 21st.  McDermott, a lead sponsor of the event, hosted a panel of leading, mid-market private equity (PE) funds to discuss how their operationally-focused strategies drive value as they pursue new investments.  Moderated by McDermott partner and private equity lawyer … Continue Reading

Alternatives to Typical Private Equity Funds: Search Funds and Fundless Sponsors

We are frequently asked about the differences between a traditional private equity fund, a search fund and a fundless sponsor. Many investors are familiar with the traditional private equity model in which a fund raises a pool of committed private capital, which it has a right to call for future acquisitions.  That capital is then … Continue Reading

High Growth Segment

Fast-growing companies, particularly technology companies, have been looking to the US public markets rather than those in the UK for equity financing.  In fact, there have been no initial public offerings of European technology companies on the main market of the London Stock Exchange (LSE) since 2010. As a response to this, the LSE announced … Continue Reading

AIFMD: More Than Just a Box Ticking Exercise

As you will no doubt be aware, the alternative investment fund industry is experiencing a serious shakedown in the European Union. The Alternative Investment Fund Managers Directive (AIFMD) comes into effect on July 22, 2013. It seeks to harmonize the European regulatory regime for managers of alternative investment funds, including private equity funds. Its extensive … Continue Reading

For Private Equity Investors, Section 1202 May Be Worth Another Look

As many deal professionals are painfully aware, the federal capital gains tax rate (in most cases) rose from 15 percent in 2012 to 23.8 percent in 2013.   In light of this tax rate increase, it is now more crucial than ever for deal professionals to creatively structure their investments in order to maximize their after-tax … Continue Reading

Venture Funds: Don’t Fear the LLC

It has long been the case that venture funds (classified as partnerships for tax purposes) have insisted that limited liability companies (LLCs) taxed as partnerships convert to C corporations prior to the consummation of a venture financing.   Most commonly, there are three rationales given for this requirement: (1) certain venture fund limited partners are … Continue Reading

Welcome to McDermott’s Corporate Deal Source Blog

Where have all the transactions gone?  The first quarter has quietly passed by.  Just a few weeks ago, looking through the pipeline, one could see almost unimpeded to the other side, relatively empty as the bankers say.  But hope exists, as suddenly activity seems to be reemerging.  We call it letter of intent flow (more … Continue Reading

Private Equity Firms Achieve Only Partial Dismissal of “Buying Club” Antitrust Lawsuit

The U.S. District Court for the District of Massachusetts recently limited the scope of a proposed shareholder class action against a number of private equity firms that participated in buyer consortia (Kirk Dahl et al. v. Bain Capital Partners LLC et al., Case No. 1:07-cv-12388 (D. Mass. Mar. 13, 2013).  Plaintiffs, shareholders of 27 companies … Continue Reading
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