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NFTs - A Digital Opportunity for PE Sponsors

Beyond creative works and consumer products, NFTs open up new avenues for IP monetisation in the technology, life sciences, and pharmaceutical industries. Non-fungible tokens (NFTs), one-of-a-kind cryptoassets stored on...more

Working Out Worker Rights - What Recent Developments Mean for PE

Worker classification, employee rights, and equal pay are among the issues that require careful consideration in light of recent and forthcoming changes. The COVID-19 pandemic, and the growing emphasis on ESG metrics...more

Europe Set for Increased SPAC Activity

As interest in European SPACs heats up amid an increasingly receptive regulatory environment, dealmakers must navigate market differences. While US special purpose acquisition company (SPAC) IPOs and related M&A activity...more

IFLR M&A Report 2021

If 2020 was the year that COVID-19 precipitated extraordinary government intervention and regulation of our lives, 2021 looks set to be the year that regulatory interventions in M&A precipitate changes to the way that...more

Exploring IPOs with Dual Class Shares - Emerging Possibilities for PE

Dual class share structures could help lure Europe’s best founder-driven businesses to the London market, but challenges remain. Listing of dual class share structures, which give certain owners (usually founders, employees,...more

Pandemic Underlines Whistleblowing Risks for PE

In a changing social landscape, PE firms should conduct corporate culture due diligence while also ensuring the implementation of robust complaints procedures. As global businesses react to the pandemic and social movements,...more

Creative Uses of Collateral Present New Financing Opportunities for PE

Innovative asset-based lending is on the rise as a means of attracting new lenders while maintaining the strategic support of existing creditors. Raising fresh capital for portfolio companies in times of financial stress is...more

PE Goes Gaming

Despite certain regulatory and challenges, PE buyers will likely see more investment opportunities in the gaming industry. The global gaming market reached a valuation of US$135.8 billion in 2020, accounting for a staggering...more

CMA Clamps Down on Deals - Navigating the UK’s Increasingly Interventionist Merger Control Regime

The CMA’s efforts to make dynamic, forward-looking assessments of parties’ overlaps will only increase post-Brexit. Dealmakers must be alert to the increasingly interventionist approach of the UK’s Competition and Markets...more

Securing a Successful SPAC Sale - What PE Firms Need to Know

The recent rise to prominence of SPACs provides private equity portfolio companies an alternative method for stock exchange listing and access to the capital markets. Special purpose acquisition companies (SPACs) have...more

Scrutinising Supply Chains - New Tools for PE

Sponsors should consider leveraging technologies and diligence practices to tackle today’s increasingly complex supply chains. Global supply chains have come under significant pressure in recent years, compounded by the...more

The Rise of Growth Equity - Connecting PE and VC

As private equity targets emerging companies, PE investors are expanding VC deal terms and dynamics. Emerging companies have historically been backed by venture capital funds, but as Europe’s startup scene matures,...more

PE Can Pursue PIPE Dreams

European PIPEs — which have experienced an uptick due to COVID-19-related market volatility — present unique structural, informational, and governance considerations for private equity investors. European private...more

Transacting With Troubled Companies – 3 Tips for PE Deal Teams Navigating Stressed, Distressed, and Insolvent Acquisitions

Successfully executing an acquisition from stress, distress, or insolvency requires a creative approach to reconcile competing interests. ...more

Healthcare AI Deals a Tonic for Private Equity Investors

Healthcare artificial intelligence is a promising sector for PE investors that requires careful navigation, particularly given divergent regulatory approaches. PE funds invested more than US$14 billion in healthcare...more

Earnouts Are Rising Across Europe, But Can They Unlock COVID-19 Valuation Gaps?

Despite practical challenges, earnouts are a tool that PE buyers should increasingly consider to reconcile differences and get deals done. The use of earnouts, though historically disliked by PE buyers, is increasing...more

Scoring on Sports Deals

Buyout firms must beware the unique legal, regulatory, and commercial issues that can complicate sports transactions and impact returns. Private equity interest in sports assets has grown over the last few years, with...more

Foreign Investment Controls - Are We Seeing a More Nuanced Approach to Private Equity?

Amid FDI screening regime expansion, deal teams have opportunities to capitalise on newly available exemptions, but must beware novel complexities. US intervention in the proposed acquisition of hotel-software company...more

The Lipstick Effect - Are Kylie Jenner and New Technologies Making Beauty Deals Increasingly Attractive for Private Equity?

Digital due diligence becomes increasingly important when buying digitally native beauty brands. Recent high-profile beauty M&A deals, coupled with current economic uncertainty, have brought renewed interest in the...more

Culture and Conduct Ahead of Exit - Key Points for Private Equity

Buyout firms planning an acquisition or preparing a portfolio company for exit must consider the impact of poor corporate culture, particularly on a potential IPO. No institution, whatever its geography, industry, sector,...more

Focus on Culture and Conduct Brings New Considerations for Corporates and Investors

It is now apparent that no institution or business unit, whatever its geography, industry, sector, or size, is above the negative impact of a poor culture. Culture-related issues at Uber, Sports Direct, Boeing, and others...more

Minimising and Mitigating Risk in M&A - Trusted Tools and New Solutions

In a complex and competitive market, minimising and mitigating risk in M&A is a key concern for deal teams. High demand for assets saw strong deal volumes and values in 2019, following a standout year in 2018. The search for...more

No-Poach Prosecutions: A Growing Problem for M&A Deal Teams?

M&A deal teams should take note of heightened scrutiny of HR and employment practices by antitrust enforcers in the US and Europe. No-poach, non-solicitation, and wage-fixing agreements - arrangements between companies...more

W&I Insurance: Exclusions and Solutions for Private Equity

How can deal teams capitalise on the latest trend in the deal insurance market to improve bid success? The emergence of contingent risk insurance policies, which address known risks that would otherwise be excluded from...more

Fund-to-Fund Transfers on the Rise as Deal Flow Slows

Negotiating market price, fund economics, management and other investors, documents, and approvals are key to leveraging fund-to-fund transfers. Following significant fundraising activity, sponsors have substantial capital...more

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