Legal & Regulation
US private equity groups spent an average USD353,000 on external legal counsel per acquisition when prosecuting deals in 2019, according to research released by Apperio, a London-based specialist legal spend management platform. In the UK, the figure was slightly lower at USD253,000.
Private equity (PE) firms raise and invest billions of dollars. These organisations also spend millions with law firms to protect their business and investments.
By Susana Garcia-Robles, Venture Partner, Capria Ventures – Face masks and frequent hand-washing are the new routine. But how can a company be safer in the new normal? “Good contractual hygiene,” says Joe Wallin, principal at Seattle-based Carney Badley Spellman. In particular, companies should be sure to understand – and where possible, standardise – force majeure language across all their legal contracts.
International law firm Proskauer has appointed Christopher C Robinson as a partner in the firm’s Private Funds Group in New York.
By Deborah Ruff, Head of US & International Arbitration, Julia Kalinina Belcher, Counsel, and Charles H Golsong, Counsel, Pillsbury Winthrop Shaw Pittman LLP – On 22 May 2020, the Tribunal de Commerce of Paris ordered the insurance giant AXA France IARD SA to pay Maison Rostang, a Michelin-starred Parisian restaurant, EUR 45,000 for two months’ worth of revenue lost due to the Covid-19 pandemic. A simple case of Covid-19 losses? Not quite.
Jersey Finance has welcomed a new amendment to the island's legislation that will make it significantly easier for managers to migrate limited partnership fund structures to the jurisdiction.
Private equity firms feel pressure to scrutinise legal spend more closely as M&A and fundraising declines, says new Apperio study
Private Equity (PE) firms in the US and UK spend many millions of dollars on legal services annually, but they are scrutinising their external legal spend like never before, according to a new Apperio research study entitled “Rocketing Scrutiny, Eroding Trust – The Changing PE Legal Spend Landscape.”
In this webinar, we ask how a data-driven approach to legal spending helps PE groups strategise weeks and months ahead of time as well as achieve greater overall visibility on costs, benefiting the fund and investors alike.
In part 2 of Episode 8, Nicholas d'Adhemar and Charlotte Henderson make predictions about the future of the legal profession. They share their thoughts on the long-term impact of the Covid-19 crisis on capital solutions, how the way in-house legal teams collaborate internally and externally will change over time, and what the biggest pressure felt by GSs in the next few years is going to be…