Dealmakers to Keep Investing in Private Equity Practices in '24: The Morning Minute
The news and analysis you need to start your day.
January 18, 2024 at 06:00 AM
3 minute read
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WHAT WE'RE WATCHING
PRIVATE EQUITY EXPECTANCY - The vibes continue to be high among transactional lawyers. While private equity deals fell in the last two years, dealmakers told Law.com's Patrick Smith they have high hopes about 2024—especially the second half—and they have kept up staffing in M&A practices, regardless of deal volume in any given quarter. This year appears to be one in which creative dealmaking—such as carve-outs, minority-stake deals and even some debt covenant deals—could meet pent-up demand, several M&A and private equity lawyers noted. "I expect it to be busier and I think the consensus is that more work will be done," noted Sonny Allison, co-chair of Cooley's private equity practice.
ACTIONABLE INTELLIGENCE - Everybody and their tech-savvy grandmother is dabbling in AI right now—and a lot of them are bound to (allegedly) screw up. With that in mind, corporate legal departments are bracing for a surge of litigation and regulatory enforcement in 2024, Law.com's Maria Dinzeo reports. Litigation trend reports from law firms Norton Rose Fulbright and Crowell & Moring show that AI will drive litigation and regulatory risk this year across the board, from cybersecurity and data privacy to antitrust, intellectual property and employment. "In-house counsel are eager both to respond to new uncertainties around generative AI and to take advantage of the efficiencies it promises. This tension informs many of the trends we highlight for 2024, including cyber risk, IP and expectations for outside counsel," said Steve Jansma, Norton Rose Fulbright's San Antonio-based U.S. head of litigation and disputes.
ON THE RADAR - Talos Energy has agreed to acquire QuarterNorth Energy for $1.3 billion. The transaction, announced Jan. 15, is expected to close in the first quarter of 2024. Houston-based Talos Energy was advised by a Akin Gump Strauss Hauer & Feld team led by partner John Goodgame. QuarterNorth, which is based in Houston, was represented by a Holland & Knight team led by partner Tim Samson. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
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