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International Edition

DLA Piper's EMEA private equity head joins Ropes & Gray's London base

Ropes & Gray has added to its London private equity practice with the hire of DLA Piper's EMEA private equity chief Will Rosen. Rosen, who joined DLA from fellow US firm Weil Gotshal & Manges in 2008, advises private equity funds and corporate clients on M&A, venture capital investments and private equity transactions. He is expected to join Ropes in June.
2 minute read

International Edition

Jones Day's London head and Euro private equity chief exit firm

Jones Day's London managing partner Russell Carmedy and European head of private equity Michael Nouril are set to leave the firm. The pair handed in their notice earlier today (1 April). Corporate partner Carmedy has led Jones Day's UK practice since the firm merged with Gouldens in 2003, when Carmedy was co-managing partner of the UK firm. His practice focuses on cross-border M&A and leveraged private equity and he has advised on deals in sectors including natural resources, healthcare, and technology.
2 minute read

International Edition

In depth: Private equity

From boom to bust, the private equity industry is attempting to reinvent itself for a much-changed world. Alex Aldridge assesses its chances of navigating the challenges ahead, while Travers, Weil, Freshfields and SJB size up the key issues for buyout professionals...
1 minute read

International Edition

Top private equity advisers line up on £480m Chiswick Park office sale

A raft of international law firms have advised on buyout house The Blackstone Group's £480m acquisition of the Chiswick Park office development in West London. Simpson Thacher & Bartlett and City firm Herbert Smith were jointly instructed by Blackstone on the deal, with SJ Berwin and Ashurst advising the seller, Chiswick Park Unit Trust.
2 minute read

International Edition

US bank signs up Speechly partner as London legal head ahead of full UK launch

Silicon Valley Bank (SVB) has hired Speechly Bircham's former private equity chief Jim Watts to head its London legal team. The appointment comes as SVB, a US lender that specialises in providing start-up loans to technology companies and counts Twitter as a client, prepares to launch a full banking branch in the UK in the new financial year.
2 minute read

International Edition

A&O takes lead for General Electric on $3.2bn France energy acquisition

Allen & Overy (A&O) has taken a lead role for General Electric on its energy division's purchase of a 90% stake in French energy company Converteam, reports The Am Law Daily. GE Energy will pay $3.2bn (£2bn) to acquire the stake from a group of controlling shareholders that includes Converteam management, Barclays Private Equity and LBO France.
2 minute read

International Edition

Reaching out - can a globalising funds market help buyout houses regain their former vigour?

Can a globalising investor market for private equity help the leading houses fulfil their funding needs? Charlotte Edmond reports
7 minute read

International Edition

Swings of the pendulum - the buyout market continues to confound expectations

We often hear that a particular position is or is not 'market'. Said with enough conviction it can sound true; but what is or is not market is usually only the result of a particular set of factors coming into play in any given transaction. The single factor that before, during and after the credit crunch has always determined where the balance of negotiating power sits between buyer and seller is how many parties want to buy a particular asset and how well the competitive position is played out.
5 minute read

International Edition

Re-emerging markets - Austria's firms are showing renewed interest in the CEE market

As the CEE region begins to show signs of recovery, Austrian firms may once again be analysing how to position themselves to best capture more of the emerging work. Austrian firms that last year took a hit through their presence in the wider region are starting to feel the benefits once more. Of the most recent Austrian deals to hit the headlines - and there have been a few - a notable majority have included a primary or secondary CEE aspect, including Apax's €1.3bn (£1.1bn) January buyout of clothing retailer Takko from Advent International, which saw leading CEE duo Wolf Theiss and Schoenherr act for Apax and Advent respectively. Both firms have offices throughout the CEE and have long positioned themselves as regional, not Austrian, firms.
5 minute read

International Edition

Rainy day returns - what lies ahead for the global funds market?

The European business environment in 2010 was challenging to say the least, with the fallout from the global financial crisis still settling and governments seeking to balance budgets by cutting public spending and increasing taxes across the board. Private equity firms were on the front line of this economic battleground. They rely heavily on debt to finance acquisitions, and that has been hard to come by as banks seek to shore up their balance sheets under new capital adequacy rules. They have also had to deal with the threat of increased regulation, not only from Europe but also from the US (where recent rules have the potential to substantially increase the cost of doing business with US investors).
5 minute read

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