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Asset Management
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September 03, 2025
4 Firms Steer $2.7B Sale Of Aon's NFP Wealth Biz
Aon said Wednesday it has agreed to sell various business units that make up the majority of NFP's wealth management operations to private equity firm Madison Dearborn Partners in a transaction worth $2.7 billion, with Skadden, Dentons, Paul Weiss and Kirkland representing the parties.
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September 03, 2025
Archegos Witness Avoids Prison After 'Extensive' Cooperation
A former accountant who served as director of risk at Archegos before its fraud-driven collapse avoided prison Wednesday after a Manhattan federal judge said his testimony was crucial in securing the conviction and 18-year prison sentence imposed on fund founder Bill Hwang.
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September 03, 2025
2 Firms Advise $300M Investment In Shopping Center REIT
Charleston, South Carolina-based retail owner Bond Street Real Estate Investment Trust said Wednesday that it has attracted a $300 million commitment from private equity firm Conversant Capital in an investment advised by Allen Matkins Leck Gamble Mallory & Natsis LLP and Fried Frank Harris Shriver & Jacobson LLP.
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September 03, 2025
Latham-Led Great Hill Clinches 9th Fund With $7B In Tow
Latham & Watkins LLP-advised private equity shop Great Hill Partners on Wednesday revealed that it wrapped its ninth fund above target after securing $7 billion of commitments.
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September 02, 2025
Fed Gov. Cook Doubles Down On Removal TRO Bid
Federal Reserve Board Gov. Lisa Cook on Tuesday doubled down in her bid to have a D.C. federal court block President Donald Trump's attempt to strip her of her position, saying the federal government was trying to expand the limits of a "for cause" removal.
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September 02, 2025
Speculation Can't Halt Medical Coatings Merger, GTCR Says
GTCR BC Holdings LLC should be allowed to merge the nation's leading medical coatings supplier with the second leading provider because federal regulators spent two weeks simply relying on speculation and theory to prove its losing antitrust case, the private equity subsidiary argued.
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September 02, 2025
Wall Street Banks Beat Revived Bond-Rigging Antitrust Claims
A New York federal judge tossed a recently revived proposed antitrust class action Tuesday accusing Bank of America Corp., Wells Fargo & Co. and other major financial institutions of conspiring to rig corporate bonds and boycott rival bond-trading platforms, finding the allegations are vague, conclusory and time-barred.
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September 02, 2025
Financial Firm Can't Pierce Atty-Client Privilege, Judge Rules
Wealth Enhancement Group LLC cannot override privilege laws to view communications between a former financial adviser's new employer and its lawyers at Spencer Fane LLP, according to a Connecticut judge who viewed the contested documents privately.
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September 02, 2025
Freddie Mac Beats Investor Suit Over Subprime Exposure
An Ohio federal judge has tossed a nearly two-decade-old lawsuit accusing Freddie Mac of failing to warn investors about its exposure to the flagging subprime market, ruling that the lawsuit hadn't identified any material misleading statements made by the company in the lead-up to the housing crisis.
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September 02, 2025
Kirkland, Cleary Guide Close Of $2.3B Private Credit Fund
Kirkland & Ellis LLP-advised credit-focused alternative asset manager Benefit Street Partners LLC and private market secondaries manager Coller Capital, led by Cleary Gottlieb Steen & Hamilton LLP, on Tuesday announced that they clinched a $2.3 billion private credit continuation fund.
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September 02, 2025
Plains Takes Majority Stake In EPIC Crude In $1.57B Deal
Plains All American Pipeline said Tuesday that a subsidiary has agreed to acquire a 55% non-operated stake in EPIC Crude Holdings LP, owner of the EPIC Crude Oil Pipeline, from subsidiaries of Diamondback Energy and Kinetik Holdings in a deal valued at about $1.57 billion, including roughly $600 million of debt.
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September 02, 2025
TMX Customers Get Final OK For $42M Data Breach Suit Deal
Customers of title loan and payday lender TMX Finance have gotten a final nod for their $42 million settlement of class action claims arising from a data breach affecting an estimated 4.8 million people, with class counsel receiving just under $6 million in fees and expenses.
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September 02, 2025
Davis Polk-Led Klarna Seeks $1.3B In Revived IPO Plans
Swedish financial technology startup Klarna, advised by Davis Polk & Wardwell LLP, announced Tuesday the buy-now, pay-later business is resuming its initial public offering plans, months after those plans were paused amid backlash to U.S. President Donald Trump's "Liberation Day" tariffs announcement in April, saying the company is looking to raise up to $1.27 billion.
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September 02, 2025
Evernorth Health Plugs $3.5B Into Shields Health Solutions
Evernorth Health Services, led by Wachtell Lipton Rosen & Katz and Holland & Knight LLP, on Tuesday unveiled plans to plug $3.5 billion into specialty pharmacy management company Shields Health Solutions.
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September 02, 2025
Apollo, Brookfield-Backed Group Inks $28.2B Air Lease Deal
Milbank LLP-advised Apollo Global Management and Brookfield are backing a $28.2 billion deal to take aircraft lessor Air Lease Corp. private, alongside Japan's Sumitomo Corp. and SMBC Aviation Capital, in a deal disclosed Tuesday that is being steered by five law firms.Â
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August 29, 2025
DC Judge Says Fed. Reserve Gov. Can't Get TRO Just Yet
Federal Reserve Board Governor Lisa Cook didn't walk away from her emergency hearing with the temporary restraining order she was looking for, but a D.C. federal judge said she was willing to expedite briefing over the president's attempt to strip Cook of her position.
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August 29, 2025
Federal Judge Blocks New Texas ESG Disclosure Law
A Texas federal judge temporarily blocked the state attorney general from enforcing a new state law that requires proxy advisory firms to disclose when their advice stems from factors such as diversity and inclusion, siding with the companies that argued the law breaches the First Amendment.
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August 29, 2025
Dems Urge FHFA Director To Focus On Housing Costs
Democratic senators on Friday urged Federal Housing Finance Agency Director William Pulte to focus on measures to bring housing costs down — including by forestalling any privatization of Fannie Mae and Freddie Mac — while lambasting Pulte for his role in the firing of Federal Reserve Gov. Lisa Cook.
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August 29, 2025
SEC Enters New Enforcement Era With Unlikely Leader
As the U.S. Securities and Exchange Commission prepares to welcome a new enforcement director after nearly a year without someone permanently in the role, securities industry insiders are waiting to see how the former military judge will leave her mark on an agency that is already in the midst of transformation.
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August 29, 2025
RICO, Fraud Claims Tossed In LA Real Estate Investment Suit
A Georgia federal court has determined that fraud and racketeering claims from a group of Chinese and American investors in a real estate investment suit alleging a group of fraudsters duped them out of millions of dollars with bogus representations are barred by merger clauses and federal securities regulations.
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August 29, 2025
7th Circ. Backs $4.5M Fraudster's 8-Year Prison Sentence
A real estate investment firm owner who transferred investor money to his friends' companies without permission and advertised to his own less-educated Amish community was properly sentenced to eight years in prison, the Seventh Circuit has ruled.
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August 29, 2025
Vanguard To Pay $19.5M Over Adviser Conflict Disclosures
Vanguard Advisers Inc. agreed to pay $19.5 million to resolve claims from the U.S. Securities and Exchange Commission that it failed to adequately disclose conflicts of interest in connection with its recommendation to clients to enroll in its managed account program.
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August 29, 2025
4 Appellate Arguments For Benefits Attys To Watch In Sept.
Yellow Corp. seeks to revive a $137 million breach dispute against the Teamsters at the Tenth Circuit, married retirees will ask the Eleventh Circuit to restart a pension conversion fight, and the en banc Fifth Circuit reconsiders a challenge to a rule implementing a 2020 surprise health billing law.
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August 29, 2025
Taxation With Representation: White & Case, Paul Weiss
In this week's Taxation With Representation, private equity firm Sycamore Partners completes its $24 billion acquisition of Walgreens Boots Alliance Inc., telecommunications company EchoStar sells wireless spectrum licenses to AT&T and Keurig Dr Pepper acquires JDE Peet's in a deal that aims to create a "global coffee champion."
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August 29, 2025
Connexa Sports, JuCoin Launch $500M Digital Asset Platform
Connexa Sports Technologies Inc. and JuCoin Capital Pte. Ltd. on Friday revealed that they have entered into a strategic partnership to jointly establish a $500 million digital asset platform called aiRWA.
Expert Analysis
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Series
Adapting To Private Practice: From ATF Director To BigLaw
As a two-time boomerang partner, returning to BigLaw after stints as a U.S. attorney and the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, people ask me how I know when to move on, but there’s no single answer — just clearly set your priorities, says Steven Dettelbach at BakerHostetler.
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What To Know As SEC Looks To Expand Private Fund Access
As the U.S. Securities and Exchange Commission considers expanding retail access to private markets, understanding how these funds operate — and the role of financial intermediaries in guiding investors — is increasingly important, say attorneys at K&L Gates.
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Balancing The Promises And Perils Of Tokenizing Securities
Tokenizing listed securities offers the promise of greater efficiency, accessibility and innovation, but a recent U.S. Securities and Exchange Commission statement makes clear that the federal securities laws continue to apply to tokenized securities, so financial institutions and technology developers must work together to create clear rules, say attorneys at Orrick.
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SEC, FINRA Obligations In Changing AI Regulatory Landscape
Despite the U.S. Securities and Exchange Commission's recent withdrawal of its proposed artificial intelligence conflict rules, financial regulators remain focused on firms developing the correct AI compliance framework, as well as continuously testing and supervising them to ensure they're fit for purpose, say attorneys at Cahill Gordon.
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Series
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.
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Managing Risks As State AGs Seek To Fill Enforcement Gap
Given an unprecedented surge in state attorney general activity resulting from significant shifts in federal enforcement priorities, companies must consider tailored strategies for navigating the ever-evolving risk landscape, say attorneys at Cozen O'Connor.
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A Deep Dive Into 14 Nixed Gensler-Era SEC Rule Proposals
The U.S. Securities and Exchange Commission last month formally withdrew 14 notices of proposed rulemaking, including several significant and widely criticized proposals that had been issued under former Chair Gary Gensler's leadership, signaling a clear and definitive shift away from the previous administration, say attorneys at Dechert.
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Series
Law School's Missed Lessons: Skillful Persuasion
In many ways, law school teaches us how to argue, but when the ultimate goal is to get your client what they want, being persuasive through preparation and humility is the more likely key to success, says Michael Friedland at Friedland Cianfrani.
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A Look At Trump 2.0 Antitrust Enforcement So Far
The first six months of President Donald Trump's second administration were marked by aggressive antitrust enforcement tempered by traditional structural remedies for mergers, but other unprecedented actions, like the firing of Federal Trade Commission Democrats, will likely stoke heated discussion ahead, says Richard Dagen at Axinn.
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How Real Estate Funds Can Leverage Del. Statutory Trusts
Over the last two years, traditional real estate fund sponsors have begun to more frequently adopt Delaware Statutory Trust programs, which can help diversify capital-raising strategies and access to new sources of capital, among other benefits, say attorneys at Polsinelli.
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Litigation Inspiration: How To Respond After A Loss
Every litigator loses a case now and then, and the sting of that loss can become a medicine that strengthens or a poison that corrodes, depending on how the attorney responds, says Bennett Rawicki at Hilgers Graben.
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While On Firmer Ground, Uncertainty Remains For SEC's ALJs
The U.S. District Court for the District of Columbia's recent opinion in Lemelson v. U.S. Securities and Exchange Commission affirmed the legitimacy of the SEC's administrative proceedings, but pointedly left unanswered the constitutional merits of tenure protection enjoyed by SEC administrative law judges — potentially the subject of future U.S. Supreme Court review, says Dean Conway at Carlton Fields.
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Tips For Cos. From California Climate Reporting FAQ
New guidance from the California Air Resources Board on how businesses must implement the state's sweeping climate reporting requirements should help companies assess their exposure, understand their disclosure obligations and begin documenting good-faith compliance efforts, says Thierry Montoya at Frost Brown.
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Why SEC Abandoned Microcap Convertible Debt Crackdown
The U.S. Securities and Exchange Commission has recently dismissed several cases targeting microcap convertible debt lenders, a significant disavowal of what was a controversial enforcement initiative under the Biden administration and a message that the new administration will focus on clear fraud, say attorneys at O'Melveny.
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The Metamorphosis Of The Major Questions Doctrine
The so-called major questions doctrine arose as a counterweight to Chevron deference over the past few decades, but invocations of the doctrine have persisted in the year since Chevron was overturned, suggesting it still has a role to play in reining in agency overreach, say attorneys at Crowell & Moring.