Undrawn credit lines are essential to private equity but in short supply from banks.
Undrawn revolving credit facilities (RCFs) are essential to private equity. They are a backup in the event of mismatches in the working...more
Green shoots emerge as PE firms consider new ways to incorporate ESG into dealmaking.
Market sentiment and the increasing importance of environmental, social, and governance (ESG) to firms’ competitiveness across the...more
10/7/2021
/ Climate Change ,
Consultation ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Due Diligence ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Reporting ,
General Partnerships ,
Limited Partnerships ,
Private Equity ,
Private Equity Funds ,
Publicly-Traded Companies ,
SFDR ,
Sustainable Business Practices ,
UK
From potential cartel behaviour to repaying government loans, deal teams should remain alert to lingering issues rooted in a company’s response to the pandemic. The recovery of the European PE market since the early days of...more
6/28/2021
/ Acquisitions ,
Asset Purchase Agreements ,
Business Valuations ,
Cartels ,
Complex Corporate Transactions ,
Contract Terms ,
Coronavirus/COVID-19 ,
EU ,
Federal Loans ,
Material Adverse Change Clauses (MACs) ,
Private Equity ,
Purchase and Sale Agreements ,
Representations and Warranties ,
Risk Assessment ,
Share Purchase Agreements
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
6/25/2021
/ Corporate Governance ,
Corporate Social Responsibility ,
Employee Rights ,
Environmental Social & Governance (ESG) ,
Equal Pay ,
Gender-Based Pay Discrimination ,
Gig Economy ,
Independent Contractors ,
Misclassification ,
Portfolio Companies ,
Private Equity ,
Uber ,
UK
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
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
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
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
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
3/17/2021
/ Acquisitions ,
Gaming ,
Institutional Investors ,
Intellectual Property Protection ,
Investment Funds ,
Investors ,
Mergers ,
Nasdaq ,
Private Equity ,
Private Equity Firms ,
Special Purpose Acquisition Companies (SPACs) ,
Video Games
Governments’ desire to control investments by businesses from purportedly hostile nations has led to more investments being stalled or blocked in recent years. Recent moves to tighten FDI screening rules during the COVID-19...more
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
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
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
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
Successfully executing an acquisition from stress, distress, or insolvency requires a creative approach to reconcile competing interests. ...more
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
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
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
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
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
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
How can private equity firms identify and mitigate inherited liability risk from vulnerable portfolio companies?
Ongoing big ticket regulatory fines coupled with high profile corporate veil cases indicate that private...more
9/30/2019
/ Acquisitions ,
British Airways ,
Data Breach ,
Due Diligence ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
Mergers ,
Piercing the Corporate Veil ,
Portfolio Companies ,
Private Equity ,
Private Equity Firms ,
Risk Assessment ,
Risk Mitigation ,
Successor Liability ,
UK
Adherence to secrecy, pre-announcement preparations, realistic expectations-setting, and strategic plans for taking control are keys to P2P deal success.
The deal market has seen a resurgence in public to private (P2P)...more
Firms targeting assets divested by conglomerates still face obstacles, though barriers to PE investment in Japan are gradually falling.
Many hurdles that traditionally challenged private equity firms looking to invest in...more
9/30/2019
/ Acquisitions ,
Cross-Border Transactions ,
EU ,
Foreign Exchanges ,
Foreign Investment ,
Foreign Trade Regulations ,
Global Economy ,
Japan ,
Mergers ,
Popular ,
Private Equity ,
Taxation (Cross-border Trade) Act 2018 (TCTA 2018)
Cornerstone investments can assist a firm’s overall exit objective, particularly when there are bidders for a portfolio company but no outright buyer.
Cornerstone investments, which involve taking a stake in an...more