Paul, Weiss, Rifkind, Wharton & Garrison

Apollo to Provide €1 Billion Capital Solution to Vonovia in Second Transaction

Retrieved on: 
Friday, November 3, 2023

This commitment follows a €1 billion investment by Apollo funds in a Vonovia portfolio in Southwest Germany earlier this year.

Key Points: 
  • This commitment follows a €1 billion investment by Apollo funds in a Vonovia portfolio in Southwest Germany earlier this year.
  • Apollo Partner Jamshid Ehsani said, “We are pleased to broaden our partnership and provide another scaled capital solution to Vonovia by investing in a portfolio of high-quality, high-demand residential real estate assets creating attractive investment opportunities for our insurance platforms, funds and clients.
  • Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo, while Apollo Capital Solutions provided structuring and syndication services in connection with the transaction.
  • J.P. Morgan is acting as exclusive financial advisor to Vonovia, and Freshfields Bruckhaus Deringer is serving as legal counsel to Vonovia.

Apollo Infrastructure Funds Acquire Majority Stake in Modern Aviation

Retrieved on: 
Thursday, November 2, 2023

NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO), Tiger Infrastructure Partners (“Tiger”) and Modern Aviation (the “Company” or “Modern”) today announced that they have entered into a definitive agreement for Apollo-managed infrastructure funds (the “Apollo Funds”) to acquire a majority stake in Modern Aviation, a fixed base operator (FBO) platform serving business and general aviation, as well as commercial, cargo and military aircraft at airports across North America.

Key Points: 
  • NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO), Tiger Infrastructure Partners (“Tiger”) and Modern Aviation (the “Company” or “Modern”) today announced that they have entered into a definitive agreement for Apollo-managed infrastructure funds (the “Apollo Funds”) to acquire a majority stake in Modern Aviation, a fixed base operator (FBO) platform serving business and general aviation, as well as commercial, cargo and military aircraft at airports across North America.
  • Tiger Infrastructure Partners, which currently owns Modern Aviation, and the Company’s management team will each reinvest alongside the Apollo Funds.
  • Founded in 2018, Modern Aviation has grown to become one of the preeminent national networks of premium FBO properties.
  • Apollo Partner Dave Cohen said, “We are excited for Apollo funds to acquire Modern Aviation, working with Tiger, Mark and the entire team to support the business in its next phase of growth.

Cyxtera Enters Asset Purchase Agreement with Brookfield

Retrieved on: 
Wednesday, November 1, 2023

Cyxtera (OTC: CYXTQ) (“the Company”), a global leader in data center colocation, interconnection services, and digital infrastructure, today announced that it has entered into an asset purchase agreement (“APA”) under which Brookfield Infrastructure Partners L.P. (NYSE: BIP, TSX: BIP.UN) and its institutional partners (collectively “Brookfield”), will acquire substantially all of Cyxtera’s assets for $775 million.

Key Points: 
  • Cyxtera (OTC: CYXTQ) (“the Company”), a global leader in data center colocation, interconnection services, and digital infrastructure, today announced that it has entered into an asset purchase agreement (“APA”) under which Brookfield Infrastructure Partners L.P. (NYSE: BIP, TSX: BIP.UN) and its institutional partners (collectively “Brookfield”), will acquire substantially all of Cyxtera’s assets for $775 million.
  • In connection with the APA and the court supervised process, Brookfield will purchase from several landlords the real estate at which seven of Cyxtera’s U.S. data centers are located.
  • “We are pleased to reach this agreement with Brookfield, which represents a favorable path forward for our customers, partners, and employees,” said Nelson Fonseca, Cyxtera’s Chief Executive Officer.
  • Lastly, Cyxtera has signed an agreement to sell its business in its Montreal and Vancouver data centers to Cologix.

TPG Completes Acquisition of Angelo Gordon

Retrieved on: 
Thursday, November 2, 2023

TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today announced the successful completion of its previously announced acquisition of Angelo Gordon.

Key Points: 
  • TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today announced the successful completion of its previously announced acquisition of Angelo Gordon.
  • Moving forward, Angelo Gordon will operate as TPG Angelo Gordon, a $74 billion[1] diversified credit and real estate investing platform within TPG.
  • “As we continue to operate and invest in dynamic markets, the addition of Angelo Gordon expands our capabilities and creates highly compelling investment opportunities.
  • Goldman Sachs & Co. LLC and Piper Sandler acted as financial advisor to Angelo Gordon and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

Chevron Announces Agreement to Acquire Hess

Retrieved on: 
Monday, October 23, 2023

Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023.

Key Points: 
  • Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023.
  • Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.
  • “This combination positions Chevron to strengthen our long-term performance and further enhance our advantaged portfolio by adding world-class assets,” said Chevron Chairman and CEO Mike Wirth.
  • Chevron will discuss its proposed acquisition of Hess with security analysts in a call today, Monday, October 23, 2023, at 7:30 a.m.

EngageSmart Agrees to Be Acquired by Vista Equity Partners for $4.0 Billion

Retrieved on: 
Monday, October 23, 2023

Under the terms of the agreement, EngageSmart stockholders will receive $23.00 per share in cash upon completion of the proposed transaction.

Key Points: 
  • Under the terms of the agreement, EngageSmart stockholders will receive $23.00 per share in cash upon completion of the proposed transaction.
  • “We have built an amazing business by putting our customers at the center of everything we do,” said Bob Bennett, EngageSmart CEO.
  • Vista intends to finance the transaction with fully committed equity financing that is not subject to a financing condition.
  • Kirkland & Ellis LLP is acting as legal counsel to Vista Equity Partners.

KKR to Invest in Life Sciences Firm Catalio Capital Management

Retrieved on: 
Tuesday, October 17, 2023

KKR, a leading global investment firm, today announced an agreement to invest in Catalio Capital Management, LP, a multi-strategy investment firm focused on breakthrough biomedical technology and innovative health care companies.

Key Points: 
  • KKR, a leading global investment firm, today announced an agreement to invest in Catalio Capital Management, LP, a multi-strategy investment firm focused on breakthrough biomedical technology and innovative health care companies.
  • The addition of new capital is expected to accelerate Catalio’s growth trajectory and talent acquisition, as well as anchor its investment strategies.
  • Pursuant to the agreement, KKR is acquiring a minority economic stake in Catalio and will invest in Catalio’s funds.
  • “The life sciences sector represents a growing market opportunity and has been an important area of focus for our health care growth strategy, which will be further accelerated through our partnership with Catalio.

Integral Ad Science Appoints Yossi Almani as Chief Legal Officer

Retrieved on: 
Monday, September 18, 2023

NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Integral Ad Science (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced the appointment of Yossi Almani as Chief Legal Officer, effective immediately.

Key Points: 
  • NEW YORK, Sept. 18, 2023 /PRNewswire/ -- Integral Ad Science (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced the appointment of Yossi Almani as Chief Legal Officer, effective immediately.
  • As a member of the senior leadership team, Almani will report directly to Lisa Utzschneider, CEO, and oversee the global legal and compliance functions.
  • "I am thrilled to announce Yossi Almani as our new Chief Legal Officer," said Lisa Utzschneider, IAS CEO.
  • "Yossi brings 15 years of legal experience as both in-house general counsel and has held positions with top law firms.

LEARFIELD Announces Closing of Recapitalization Transaction and Equity Investment, Positioning the Company for Continued Growth

Retrieved on: 
Wednesday, September 13, 2023

LEARFIELD (or the “Company”), a leading media and technology company powering college athletics, today announced that it has closed on a comprehensive deleveraging transaction with its lenders and equity partners.

Key Points: 
  • LEARFIELD (or the “Company”), a leading media and technology company powering college athletics, today announced that it has closed on a comprehensive deleveraging transaction with its lenders and equity partners.
  • The Company’s prior equity holders will retain an equity stake in the Company.
  • We’re just getting started.”
    This transaction is the latest transformative initiative implemented by the Company to evolve media and technology in college athletics and position partners for growth.
  • Latham & Watkins LLP and Davis Polk & Wardwell LLP served as legal advisors to certain of the Company’s current equity holders.

Patent Litigation Firm Groombridge, Wu, Baughman & Stone LLP Opens Tokyo Office

Retrieved on: 
Tuesday, September 12, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230912254273/en/
    Photo is of prominent Japan-based patent litigator Maxwell "Mac" Fox, partner in charge of the newly launched Tokyo office of leading patent boutique law firm Groombridge, Wu, Baughman & Stone LLP.
  • Groombridge Wu was formed late last November by four preeminent patent litigators who had previously worked together for many years at Paul, Weiss, Rifkind, Wharton & Garrison LLP.
  • Groombridge Wu’s Tokyo office will focus on a single area of practice for which there is a great deal of demand.
  • The partners’ track record of success has already led to industry recognition: after only nine months, the firm has been ranked and recommended in key industry publications such as Chambers and IAM, and repeatedly identified as a 2023 “firm to watch.”
    Groombridge, Wu, Baughman & Stone LLP is a patent litigation firm.