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antitrust regulators, particularly the Federal Trade Commission, have been stepping up scrutiny of private equity investments in healthcare. On March 5, the FTC, along with the U.S. Department of Justice and the U.S.
Website builder Squarespace is no longer a publicly traded company, after private equity firm Permira procured all remaining common stock in the firm. Permira first revealed plans to acquire Squarespace back in May, offering shareholders in the NYSE-traded company $44 per share — this equated to an equity valuation of $6.6
Private equity sponsors can exhale: A federal court recently stopped the Federal Trade Commission's (FTC) antitrust action that targeted private equity sponsor Welsh, Carson, Anderson & Stowe for the healthcare "roll-up" strategy of its anesthesia practice management portfolio company. The case, Federal Trade Commission v.
Financial Conduct Authority has published a final report commissioned from Europe Economics to evaluate the potential impacts of implementing a pre-tradeequities consolidated tape in the U.K., together with an update responding to the findings of the report. By: A&O Shearman
Private equity is squarely in the cross hairs of regulators; the Department of Justice Antitrust Division, the Federal Trade Commission, and the U.S. Department of Health and Human Services recently announced the launch of a joint inquiry into private equity ownership in the health care field. By: Ballard Spahr LLP
Cautious deployment of M&A war chests while concerns relating to IPO and equity market trading buoyancy continue. Current market: Fewer M&A deals as Europe's FMI tectonic plates digest acquisitions of yesteryear. By: White & Case LLP
The Federal Trade Commission’s (FTC) push against private equity roll-ups has hit a snag. Judge Hoyt found that the FTC had not adequately alleged that Welsh Carson “is violating” or “is about to violate” antitrust laws, as required under.
Federal Trade Commission (“FTC”) antitrust lawsuit against a private-equity owner of a large anesthesiology practice in Texas demonstrates that the FTC has begun to implement its more aggressive focus on the perceived competitive harms caused by certain “roll-up” acquisition strategies. A recent U.S.
On March 5, the Federal Trade Commission (FTC) hosted a public workshop titled “Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care.” The event is part of the agency’s effort to publicize and encourage enforcement targeting private equity investments in health care.
BlackRock has appointed Nick Craze head of the EMEA equitytrading desk following the promotion of Paul Battams to head of international equitytrading, The TRADE can reveal. The post BlackRock hires from within for new head of EMEA equitytrading appeared first on The TRADE.
Private equity investment in the health care sector continues to be a significant area of focus for the U.S. On March 5, 2024, the Federal Trade Commission (FTC) hosted a public workshop to “examine the role of private equity investment in health care markets” (the FTC workshop). antitrust agencies.
The Federal Trade Commission’s suit alleging U.S. Anesthesia Partners (USAP) and Welsh Carson, a private equity fund that owns 23 percent of USAP and controls two of 14 board seats, engaged in an anticompetitive scheme to acquire and consolidate anesthesia practices in Texas partially survived motions to dismiss by the two defendants.
On June 6, 2024, California Attorney General Rob Bonta announced that he led a multistate coalition of eleven (11) state attorneys general in in submitting a comment letter (the “Comment Letter”) in response to the Federal Trade Commission, the U.S. Department of Justice, and the U.S. By: Sheppard Mullin Richter & Hampton LLP
In a decision with significant implications for private equity firms and minority investors, on May 13, 2024, the US District Court for the Southern District of Texas dismissed the Federal Trade Commission’s (FTC) suit against a fund of private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson) that is a minority investor in US Anesthesia (..)
The Federal Trade Commission (FTC) on Sept. 21, 2023, sued a private equity firm in the U.S. District Court for the Southern District of Texas over an alleged decade-long "roll-up" strategy to consolidate anesthesiology practices in Texas. By: Holland & Knight LLP
On May 13, a federal district court in Texas dismissed private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson) from an antitrust lawsuit filed by the Federal Trade Commission (FTC). The lawsuit, which was originally filed in 2023, alleged that Welsh Carson and co-defendant U.S. Anesthesia Partners, Inc.
On 13 May, a federal district court judge dismissed the Federal Trade Commission’s (FTC) antitrust case against private equity firm Welsh, Carson, Anderson & Stowe and affiliated entities (Welsh Carson). The FTC’s case alleged that Welsh Carson, along with its portfolio company, US Anesthesia Partners, Inc.
A recent government initiative announced on March 5, 2024 signals that more antitrust scrutiny for private equity firms and asset managers is on the horizon. By: Paul Hastings LLP
On March 6, the Federal Trade Commission (“FTC”), the Department of Justice’s Antitrust Division (“DOJ”), and the Department of Health and Human Services (“HHS”) (the “Agencies”) announced that they were “launching a cross-government public inquiry into private equity and other corporations’ increasing control over health care.”.
At the end of September, the Federal Trade Commission sued a private equity firm, Welsh, Carson, Anderson & Stowe, and U.S. Anesthesia Partners, Inc. USAP), an anesthesia service provider in Texas, alleging that USAP and Welsh Carson drove up prices through an anticompetitive scheme to consolidate Texas anesthesiology practices.
For the first time, The TRADE is announcing the 2023 Rising Stars of Trading and Execution ahead of the gala awards ceremony, Leaders in Trading on 8 November. The shortlisted candidates will be handed their award during the Rising Stars of Trading and Execution awards ceremony, taking place as part of Leaders in Trading.
The recent Request for Information by the Federal Trade Commission (FTC), Department of Justice (DOJ) and Department of Health and Human Services (HHS) seeking input on the effects of private equity (PE) investment in the healthcare sector underscores the importance of an effective compliance program.
On March 6, 2025, the Federal Trade Commission (FTC) filed a lawsuit in federal court challenging GTCR BC Holdings, LLC's (GTCR) proposed acquisition of Surmodics, Inc. Surmodics).
The Federal Trade Commission (FTC), under the leadership of Chairperson Lina Khan, has for the past several years signaled its intent to ramp up enforcement of the antitrust laws in the health care and private equity spaces. Last week, the FTC gave teeth to these policy proclamations and sued both U.S. Anesthesia Partners, Inc.
Vincent Hall has joined Citi as an equity trader following two years at Citadel where he served in the same role. He returns to Citi after four years, having previously worked at the firm as associate vice president in emerging markets equitytrading. Elsewhere in his career, Hall has also worked at BlackRock as an associate.
BNY Mellon has made two key senior managing director hires into its fixed income and equity sales and trading businesses. Bianca Gould has been appointed head of fixed income and equities EMEA, based in London. Elsewhere, Kathleen Kinsella has joined BNY Mellon as head of US fixed income sales, based in New York.
Paul Battams has been named head of international equitytrading at BlackRock following 23 years with the firm according to an announcement on social media. Prior to joining Barclays as equity derivative trader in 2009, Battams was an equity trader at Barclays Global Investors for 11 years.
Omar Darwish has joined fintech pioneer GTN as equity sales trader following a three-and-a-half-year stint at Arqaam Capital. His appointment comes as GTN continues its expansion efforts to build a comprehensive electronic trading and investment platform. The post GTN appoints new equity sales trader appeared first on The TRADE.
Institutional investors, asset managers and hedge funds are invited to rate the service, features and capabilities of their algo providers in The TRADE’s 2024 Algorithmic Trading Survey. We encourage providers of algorithmic trading to support client participation. To participate in the survey, please click here.
Rikki Corbyn has left State Street Global Advisors (SSGA) following 11 and a half years with the firm, The TRADE has learnt. Most recently, Corbyn served as equity and derivatives trader, vice president at SSGA, focused on the EMEA region, having joined the desk in December 2016.
To know if the buyside is right for you, let’s start with a textbook understanding of “What is private equity?” Private equity involves investing capital directly into private businesses that are not publicly traded on stock exchanges (that would be a hedge fund). Strategic thinking skills are essential.
The Federal Trade Commission (“FTC”), the Department of Justice Antitrust Division (“DOJ”), and the new proposed merger guidelines have all called out private equity transactions for particular scrutiny.
In the pursuit of attractive equity returns, private equity firms have developed numerous innovative strategies beyond typical leveraged buyouts and take-private transactions. As it happens, this is an industry that has experienced a significant amount of private equity-backed roll-up activity.
In the constantly evolving financial markets landscape, where volatility and complexity are continually featured, the ability to discern the true costs of trading has become paramount for investors and institutions alike. However, reservations about its usage still exist among users.
Lara Jacobs has been appointed vice president – equities electronic trading coverage at JP Morgan following six years with Liquidnet. She most recently served as head of international client trading, EMEA. Prior to this she worked as a market structure and strategy analyst before moving onto a role as equity trader.
Almost two thirds (63%) of buy-side equity market participants believe outsourced desks would result in improved execution quality and trade performance when trading across regions, according to new research from Coalition Greenwich. This figure was up markedly from similar research in 2020, which had the result at 5%.
The TRADE is delighted to reveal the shortlisted nominees for this year’s coveted Buy-Side Awards, in partnership with SIX Swiss Exchange. This year’s categories have been updated slightly, and for the first time the Buy-Side Awards will celebrate a Hedge Fund Trading Desk of the Year alongside the Long Only category.
With electronic equitiestrading continuing to rise, a notable proportion of US low-touch desk expect to expand their teams over the next 12-18 months, a new report from Coalition Greenwich has found. Almost 40% of respondents emphasised a strong interest in more innovative trading venues, with another 53% showing some interest.
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