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Last fall, privateequity and hedge fund investors were given a reprieve from the prospect of increased oversight of healthcare transactions when California Governor Gavin Newsom unexpectedly vetoed Assembly Bill 3129 (AB 3129). By: Husch Blackwell LLP
Launching a privateequityfund is an exciting yet daunting endeavor; and a General Partner (GP) Advisory Board can be a critical asset in navigating the complexities. By: Tonkon Torp LLP
As we begin 2024, we have highlighted the issues and trends that privateequity (PE) investors should consider when evaluating transactions in the healthcare sector. Healthcare Continuation Funds: Strategic Considerations - With a sluggish 2023 for platform exits, an increasing number of PE funds looked to continuation funds to offer.
California is looking to take the lead on regulating privateequity deals in the health care space by introducing bill AB 3129, which requires privateequity groups or hedge funds to receive the state attorney general’s approval before purchasing a health care entity.
Traditionally, privateequity firms were seen as benign investors from an antitrust perspective. In the past 12 months, PE-funded acquisitions have faced progressively more rigorous scrutiny by antitrust authorities. This is changing. By: Allen & Overy LLP
AB 3129 would establish a mandatory approval process for a broad range of healthcare-related transactions involving privateequityfunds and hedge funds, giving the California Attorney General (“CA AG”) broad authority to block or impose restrictions on transactions to protect public interest. By: Goodwin
The year 2023 will be remembered as a challenging one for privateequity (PE), with complexities to navigate on many fronts. Although overall transaction volume was significantly down, privateequityfunds still found. By: Akin Gump Strauss Hauer & Feld LLP
As privateequity firms, sovereign wealth funds, and other investors seek new avenues for growth, the sports arena offers a promising and dynamic landscape. By: Morgan Lewis
On January 7, 2025, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery issued a post-trial decision in favor of defendant, a privateequityfund (the Fund), finding that the Funds sale of a portfolio company (the Company) was protected by the business judgment rule and did not harm the interests of minority stockholders.
On August 31, the last day of its 2024 Legislative Session, the California Legislature approved Assembly Bill 3129 (Wood), which provides for notification to and review by the Attorney General of health care transactions involving privateequity groups and hedge funds.
McGuireWoods recently held its 20th Annual Healthcare PrivateEquity and Finance Conference (HCPE Conference) in Chicago. The conference drew more than 1,000 professionals from privateequityfunds, senior and mezzanine lenders, and investment banks, as well as C-level executives, consultants and principals in the healthcare industry.
Gavin Newsom vetoed a controversial bill that would have restricted privateequity and hedge fund healthcare transactions in the state. On Saturday, September 28, California Gov. By: Fenwick & West LLP
The California legislature is considering a bill that could severely impact the ability for privateequity companies and hedge funds to operate in the California health care industry. By: Polsinelli
The proposed law sought to regulate health care transactions involving privateequity and hedge funds. On September 28, California Governor Gavin Newsom vetoed Assembly Bill (AB) 3129. By: ArentFox Schiff
It is especially relevant for renewable energy project developers, energy transition privateequityfunds and sustainable infrastructure funds due to the fact that renewable energy developers often have a complex. By: McDermott Will & Emery
3129 (AB 3129), which would have required privateequity groups and hedge funds to obtain the Attorney General’s written consent at least 90 days prior to acquisitions or changes of control of certain health care facilities, provider groups, and other providers. On September 28, 2024, Governor Newsom vetoed Assembly Bill No.
As proposed by Assembly Speaker pro Tempore Jim Wood, Assembly Bill 3129 (“AB-3129” or the “Bill”) seeks to expand state oversight of transactions involving privateequity groups or hedge funds and health care facilities or providers.
When you first decide to enter the world of privateequity, you will undoubtedly be more overwhelmed than you were when you entered investment banking recruiting. Below, I will outline some of the best privateequity firms to work for in 2023. of aspiring juniors were able to land the coveted position.
In a decision with significant implications for privateequity 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 privateequity firm Welsh, Carson, Anderson & Stowe (Welsh Carson) that is a minority investor in US Anesthesia (..)
Privateequity is an investment asset class that has gained significant prominence and popularity in recent decades. However, privateequity can seem complex and intimidating to beginners who are unfamiliar with its fundamentals. Privateequity firms also invest in distressed debt or provide private debt financing.
Family offices have become increasingly important players in the space traditionally occupied by privateequity and venture capital funds. These excerpts summarize some of the Survey’s […]
California’s AB 3219, which would require privateequity firms and hedge funds to obtain prior approval to consummate certain healthcare-related transactions, is now one step closer to becoming law following the State Assembly’s May 22, 2024 passage of the pending legislation.
Anesthesia Partners (USAP) and Welsh Carson, a privateequityfund 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.
Earlier this year, I blogged about the NFL’s decision to open its franchises up to investment by a select group of privateequityfunds. According to this Institutional Investor article, those funds are chomping at the bit to get a piece of the NFL’s action, and it says that they like the NFL for the […]
To know if the buyside is right for you, let’s start with a textbook understanding of “What is privateequity?” Privateequity 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.
Working in privateequity is highly attractive for many reasons, and many finance professionals who are not already in the field often look for ways to break in. One of the primary ways to do so is by landing an internship at a privateequity firm you might want to work at.
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the privateequityfunds domicile market. By: Cadwalader, Wickersham & Taft LLP
In recent years, PE fund general partners have increasingly moved certain assets into continuation funds, which allow them to continue to hold the investments while offering limited partners the option to either roll-over their investments into the continuation fund, liquidate their investments or engage in some combination of both alternatives.
Privateequity firms play a significant role in the global financial industry, and their presence is particularly pronounced in New York City. Job Creation and Economic Growth: Privateequity firms in New York City contribute to job creation and economic growth through their investment activities.
Woodruff Sawyer recently issued its “Guide to Insuring Fund Liability Risks for Venture Capital and PrivateEquity Firms.” ” The publication provides an overview of the key coverages and claims scenarios.
Alongside hedge funds and venture capital firms, privateequity is often the most coveted role within the finance sector, and for good reason – it is a highly compensated, competitive, and luckily, a non-client-facing role that is the end goal for many aspiring finance professionals. and how our process works.
Zuora, a company selling software to help businesses manage their subscription-based services, has agreed to be acquired by privateequity firms GIC and Silver Lake for $1.7 It’ll take Zuora, which is currently publicly traded, private.
Privateequity associates are the workhorses of any investment team. They are typically closest to the financial modeling, analytical work, and diligence that privateequity firms perform. Depending on the practices of the fund, associates may be expected to present part or all of the investment committee memo.
According to a recent Institutional Investor article, privateequityfunds are sitting on a mountain of dry powder – or at least some of them are. The article says that PE & VC funds have added nearly $50 billion to their cash reserves since December 2023.
You might think that with 2023’s challenging M&A environment, PE fund employees would be experiencing a big compensation hit. In fact, this excerpt says that those folks are seeing double-digit increases in their pay: The median total cash compensation for all levels of privateequity employees […]
You’ve got your dream privateequity! But that is just the first step of the privateequity journey. Privateequity firms are typically very hierarchical, with multiple levels of professionals needing to move up to make it to the title of MD or Partner. Congratulations!
banking regulators published a request for comment covering a proposed revision to the call report forms and process that would mandate more granular disclosure on loans made to privateequityfunds. That’s one possible question after U.S. By: Cadwalader, Wickersham & Taft LLP
In recent years, private credit has emerged as an important financing source for corporations of all kinds, especially for privateequity-owned businesses with high financial leverage. The growth of private credit can be traced back to the Great Financial Crisis of 2008-2009. What impact has this had on privateequity?
Written by an OfficeHours Top Buyside Coach The presence of privateequity firms in New York City contributes to its status as a global financial center by attracting talent, fostering innovation, and driving economic prosperity.
Privateequity value creation came on my radar a few years ago when I noticed something: Even though traditional PE deal roles were not doing well, “operational” or “value creation” teams still seemed to be recruiting. What Does the PrivateEquity Value Creation Team Do in Real Life?
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