Daniel Blanchard Joins MBBP as Corporate Senior Attorney

We are pleased to welcome seasoned Corporate Senior Attorney Daniel J. Blanchard to the Firm. Dan advises his clients on corporate governance, strategic commercial transactions, equity and debt fundraising activities, and mergers and acquisitions. Dan also counsels lower-to-mid-market private equity funds and family offices in connection with their investments, the management of portfolio companies, and leveraged “roll-up” …

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First Time Funds: The fundraising environment is strong; the fundraising process is hard

Raising capital for a first time private equity fund is difficult. First time fund managers often are surprised by how long it takes to secure enough capital commitments to hold a fund’s initial closing, particularly when seeking commitments from institutional investors. The good news is that first time funds have recently been in favor with …

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Adviser Sanctioned for False Statements to Prospective Investors

The Securities and Exchange Commission sanctioned a private equity fund adviser and its chief executive officer for making false statements about the other investors that had committed to invest in one of the adviser’s private equity funds. As part of a settlement with the SEC, the adviser agreed to cease acting as an investment adviser …

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TPG Pays $12.8 Million to Settle Allegations that it Misled Investors

TPG Capital Advisors, LLC will pay $12.8 million to settle allegations that it misled prospective investors in three of its private equity funds. According to a settlement with the Securities and Exchange Commission, TPG misled prospective investors by failing to disclose its practice of requiring some portfolio companies to pay accelerated monitoring fees when certain …

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SEC Targets Broken Deal Expenses, Again

By: Josh Watson Private equity firm Platinum Equity Advisors, LLC (Platinum) improperly charged broken deal expenses to three of its private equity fund clients, according to a settlement with the Securities and Exchange Commission on September 21, 2017. The settlement requires Platinum to reimburse its clients for $1.7 million of improper charges and pay a …

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Mary Beth Kerrigan Was Encore Panelist at CLE Webinar on Venture Backed M&A

Back by popular demand, corporate partner Mary Beth Kerrigan spoke on an encore panel of this year's ABA Business Law Annual Meeting, titled "Venture Backed M&A: Special Considerations".  Mary Beth and her fellow panelists discussed complex issues that commonly arise in acquisitions of venture-backed companies, including complicated waterfalls, the blurring of management incentives with purchase price, and much …

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MBBP’s Joshua Watson quoted in Bloomberg article discussing private equity tax and financial reform in the Trump era

Corporate partner Joshua H. Watson was quoted in a Bloomberg article discussing possible changes to the private equity industry during Donald Trump's presidency. The article details the top three priorities for the private equity industry as Trump takes office: carried interest, interest deductibility, and changing Dodd-Frank registration requirements.  Regarding Dodd-Frank requirements, Josh notes that if …

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Jonathan Gworek Concludes Tenure as Chair of Private Equity and Venture Capital Committee at ABA Business Law Annual Meeting

This year's ABA Business Law Section Meeting will mark the end of Corporate Partner Jon Gworek's position as Chair of the Private Equity and Venture Capital Committee.  Jon was appointed as chair of the committee in 2013 during the annual meeting, and in the role has been integral in planning the committees activities and meetings.   …

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Scott Bleier Participating In This Year’s ABA Business Law Annual Meeting

MBBP Corporate Partner Scott Bleier will participate in two separate sessions during this year's ABA Business Law Annual Meeting in Boston.  Scott will be discussing the recent Sun Capital Partners III v. New England Teamsters & Trucking Industry Pension Fund (D. Mass. March 28, 2016) court case at the Private Equity and Venture Capital Jurisprudence meeting …

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PEVC Committee Chair to attend ABA Business Law Section Conference

This week Attorney Jon Gworek, chair of the ABA Private Equity and Venture Capital Committee, is off to Montreal for the 2016 Business Law Section Spring Meeting. The Business Law Section of the American Bar Association includes over fifty committees with the PEVC being the fifth largest. Throughout this conference, the PEVC Committee has a …

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