Private Equity Law Review

Recent Posts from Private Equity Law Review

• Going Private: Rule 13e-3 and Private Equity Buyouts - Part 2

  In acquisitions of public companies, private equity sponsors often seek to retain members of the target’s management to run the day-to-day operations of the portfolio company after closing. Almost invariably, the sponsors will offer management shares…

• House Hearing on Private Equity and Venture Capital Regulation - Part 2: Leveraged Buyouts

  In debates over public policy, the first battle often involves a contest over narrative. If others adopt your story, you can gain an early advantage by having lawmakers solve the problems you define for them. In this…

• House Hearing on Private Equity and Venture Capital Regulation- Part 1: The Private Equity Council

  Everybody likes a fight. So it came as no surprise that the media dredged up some hackneyed headlines to describe the House Financial Services Committee’s hearings on regulating hedge funds, venture capital, and private equity earlier…

• House Financial Services Committee Proposes Hedge Fund & Private Equity Regulation

  At the end of last week, the House Financial Services Committee focused on regulatory reform measures designed to mitigate systemic risk to the financial system and to regulate hedge funds and private equity. Federal Reserve Chairman…

• Going Private: Rule 13e-3 and the Acquisition of Public Companies - Part 1

  When a private equity fund buys substantially all of a public company’s outstanding shares in a cash offering, the acquisition may be described colloquially as “taking the company private.” From the perspective of the Securities Exchange…

• The Disney-Marvel Merger Negotiations: From the Opening Scene to the Closing Credits

  The DVD releases of future Disney films featuring Marvel superheroes undoubtedly will contain bonus items for the cinephile. If a single viewing of a movie doesn’t sate your appetite, you’ll probably be able to watch it…

• LPs Push to Reinforce Fiduciary Duty of Sponsors

  As we previously noted, the ILPA (International Limited Partners Association) recently published a wide-ranging set of “best practices” that it hopes will shape the practices of the private equity sponsor community. In this piece, we’d like…

• Drafting Advancement and Indemnification Provisions in Limited Partnership Agreements

  A July ruling by the Court of Chancery holds important lessons for how Delaware courts interpret advancement and indemnification provisions in limited partnership agreements. In J. Michael Stepp v. Heartland Industrial Partners, L.P., two former officers…

• Private Equity LPs Seek to Impose "Best Practices" on Sponsor Community

  The Institutional Limited Partners Association, a trade association that represents 220 institutional investors in private equity funds, recently published a set of Private Equity Principles, designed to guide future dealings between its members and the…

• Elan Loses to Biogen in Court for Assigning Tysabri Obligations to Johnson & Johnson

  Attorneys for Biogen Idec Inc. and Elan Corporation finally faced off in a Manhattan federal court earlier this month. The two companies had adopted increasingly antagonistic postures towards one another as elements of Elan’s cooperation and…