Recent Publications
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PE Fundraising at a Glance (Q1 2023)
PE Fundraising at a Glance looks at the latest quarterly trends in global and U.S.-based private equity fundraising. The pace of private equity fundraising remains sluggish. In Q1, $146.7bn was raised globally, up less than 1% from $146.5bn raised in Q4 2022. One hundred forty-four funds reached a final closing globally in Q1, down 32.4% from 213 funds closed in Q4 2022.
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Private Equity Digest (April 2023)
The first quarter of 2023 generally extended the slower global and U.S. private equity activity seen at the end of 2022. While the number of deals continued to fall between January and March, total deal values increased but were still consistent with the lower levels seen toward the end of 2022. In view of the current market conditions, general and limited partners may desire to explore fund-level liquidity structures as an alternative to traditional exits. In this issue, we discuss some of these potential liquidity strategies.
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PE Fundraising at a Glance (Q4 2022)
PE Fundraising at a Glance looks at the latest quarterly trends on global and U.S.-based private equity fundraising. While private equity fundraising is expected to remain weak through late 2023, Q4 showed signs of the market beginning to stabilize, with fundraising up 9% from Q3.
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Private Equity Digest (January 2023)
While private equity activity bounced from month to month in 2022, there was a general downward trend over the course of the year, culminating in a steep decline in the number of deals in December. The total value of deals both globally and in the U.S. peaked in April and May, respectively. While it is unclear if December is a bellwether for 2023, tight credit markets and proactive regulatory regimes seem poised to dampen enthusiasm in the immediate term. In this issue, we discuss litigation risk in private equity exits that may become more prevalent in challenging markets.
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Private Equity Digest (September 2022)
In this issue of the Paul, Weiss PE Digest, we discuss the “sponsored spin,” an investment that may be ripe for exploration in the current market dynamics.
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PE Fundraising at a Glance (Q2 2022)
PE Fundraising at a Glance looks at the latest quarterly trends on global and U.S.-based private equity fundraising. Amid the backdrop of the deterioration of the global economy, private equity fundraising continued to decline in Q2, down 9% from Q1. With a record number of private equity funds currently in the market, some LPs may have to make tough decisions on allocations or already be fully allocated for the remainder of 2022.
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Recent Antitrust Division Statements Suggest Close Attention to Deals Involving Private Equity
Several recent statements by the assistant attorney general in charge of the U.S. Department of Justice’s Antitrust Division indicate that the DOJ is increasingly focused on issues relevant to private equity, including roll ups, acquisitions of divestiture assets and interlocking directorates.
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Private Equity Firms Face Increasing False Claims Act Scrutiny
The DOJ recently announced a settlement in an FCA case involving a medical testing company that included a parallel settlement with the company’s minority owner, a private equity firm. The settlement joins a growing number of similar FCA cases taking aim at private equity firms based on their involvement with or ownership of portfolio companies.
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M&A at a Glance - 2021 Year-End Roundup
After rebounding in the latter part of 2020, M&A activity continued to gain steam into 2021. The $2.6 trillion in total U.S. deal value for 2021 was an increase of 75% over 2020, and the $5.6 trillion in total global deal value for 2021 was an increase of 58% over 2020. Both figures were record breakers: total U.S. deal value was 37% higher, and total global deal value was 31% higher than previous records.
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Matt Abbott Publishes Article in Mergers & Acquisitions
Corporate partner Matt Abbott wrote an article, “A Look Back at Top PE Trends in 2021,” published in the November/December issue of Mergers & Acquisitions.
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September 2020 Private Equity Digest
Interest in special purpose acquisition companies (SPACs) has exploded in the last couple of years. In this issue of Private Equity digest, we discuss the pros and cons of some alternatives for private equity firms looking to participate in these vehicles.
In the News
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Kyle Seifried and Cullen Sinclair Discuss the Current State of M&A and Private Equity at The Deal Conference
On June 6, corporate partners Kyle Seifried and Cullen Sinclair participated in panel discussions as part of The Deal Economy 2023: Predictions and Perspectives conference in New York City.
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Marco Masotti Discusses 2023 Private Equity Rebound With FT’s FundFire
Private Funds Group Co-Head Marco Masotti spoke with the Financial Times’ FundFire about a possible private equity bounce back by the end of 2023.
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Private Equity International Highlights Latest Paul, Weiss Annual Funds Survey
In a wide-ranging feature in Private Equity International, corporate partner and Private Funds Group Co-Head Marco Masotti highlighted the findings of the annual Paul, Weiss Private Funds Group survey of 50 recently raised private equity funds with a minimum target of $3 billion.
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Brian Lavin to Discuss M&A and Private Equity in 2023 in Expert Webcast Roundtable
Corporate partner Brian Lavin will participate in an Expert Webcast roundtable, “M&A and Private Equity Outlook 2023.”
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Jeremy Veit and Austin Pollet Discuss Opportunities for Private Equity General Counsel in Challenging Market in The Recorder
Corporate partners Jeremy Veit and Austin Pollet wrote an article published in The Recorder on the important role general counsel at private equity firms can play in navigating the current deal market and identifying opportunities to create value.
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Matthew Goldstein Publishes Article on How to Stay Competitive in the Current Fundraising Market in Private Equity International
Corporate partner Matthew Goldstein discussed the five most effective and creative ways fund managers can navigate the constraints of the current market slowdown in an article published in Private Equity International on April 3.
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Marco Masotti Discusses Creative Fundraising With PEI
Global Private Funds Group Co-Head Marco Masotti spoke with Private Equity International about the innovative ways general partners are navigating a slower fundraising environment.
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Marco Masotti Discusses Private Equity Trends and Challenges With Private Equity Law Report
Private Funds Group Global Co-Head Marco Masotti spoke with Private Equity Law Report (PELR) about the findings in Paul, Weiss’s most recent annual report on private equity fund trends and industry developments, “2022 Private Equity Fundraising: Key Trends and Market Survey.”
Events
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Megan Spelman to Discuss Private Equity M&A at PLI Program
Corporate partner Megan Spelman will participate in a panel, “Private Equity M&A,” during the Practising Law Institute’s Hot Topics in Mergers & Acquisitions 2022 program.
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Lindsey Wiersma and Vicky Forrester Speak at PLI Private Equity Forum
Private funds partners Lindsey Wiersma and Vicky Forrester participated in Practising Law Institute’s 24th Annual Private Equity Forum.
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Lindsey Wiersma Co-Chairs, Amran Hussein Spoke at PLI Private Equity Forum
Corporate partner Lindsey Wiersma co-chaired and corporate partner Amran Hussein participated in the Practising Law Institute’s 23rd Annual Private Equity Forum.
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Josh Soven to Speak at ABA Private Equity and Venture Capital Meeting
Litigation partner Josh Soven will deliver a presentation, “Antitrust and CFIUS in the Biden Administration: Implications for M&A and Venture Capital,” at the American Bar Association’s Private Equity and Venture Capital Committee meeting.
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Mike Vogel to Participate in M&A and Private Equity Expert Webcast
Corporate partner Mike Vogel will participate in a panel hosted by Expert Webcast, “M&A and Private Equity Outlook 2022.”
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Paul, Weiss Hosts Private Equity Fundraising Webinar
Paul, Weiss hosted a webinar, “Deep Dive: Private Equity Fundraising in 2020,” to an audience of more than 150 existing and prospective clients and industry participants.
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Udi Grofman Chairs PLI Program for Private Fund Attorneys
Corporate partner Udi Grofman will chair the second annual Practising Law Institute (PLI) “Advanced Issues in Private Funds” program. Corporate partner Victoria Forrester is also participating as a faculty member.
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Paul, Weiss Hosts Webinar on Private Equity Funds Market Survey
On May 20, Paul, Weiss hosted a webinar, “Private Equity Fundraising: Market Survey and Recent Trends.”
Awards
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Megan Spelman to Receive The M&A Advisor’s 2023 Emerging Leaders Award
Corporate partner Megan Spelman will be recognized as a 2023 recipient of The M&A Advisor’s “Emerging Leaders Award,” which celebrates professionals under the age of 40 whose significant accomplishments have established them as emerging leaders in the M&A, financing and restructuring industries.
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Matt Abbott and Marco Masotti Recognized as “Dealmakers of the Year” by The American Lawyer
Corporate partners Matt Abbott and Marco Masotti were named among The American Lawyer’s 2023 “Dealmakers of the Year,” which honors the lawyers who drove the biggest deals of the past year.
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Conrad van Loggerenberg Recognized Among Private Equity International’s 40 Under 40
Corporate partner Conrad van Loggerenberg was named to the Private Equity International (PEI) 2022 “40 Under 40: Future Leaders of Private Equity” in the lawyer category.
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Paul, Weiss Shortlisted for PEI 2022 “Law Firm of the Year in North America” in Transactions Category
Paul, Weiss was named a “Law Firm of the Year in North America” finalist in the transactional category by Private Equity International, as part of the 2022 PEI Awards.
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Vicky Forrester Named a Law360 “Rising Star” in Fund Formation
Corporate partner Vicky Forrester was recognized as a Law360 2022 “Rising Star” in the Fund Formation category.
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Cullen Sinclair Named a Law360 “Rising Star” in Private Equity
Corporate partner Cullen Sinclair was recognized as a Law360 2022 “Rising Star” in the Private Equity category.
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Matt Abbott Named a 2022 Law360 MVP in Private Equity
Corporate partner Matt Abbott was recognized as a Law360 2022 MVP in the Private Equity category.
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Paul, Weiss Shortlisted for Private Equity “Team of the Year” in the 2023 IFLR Americas Awards
Paul, Weiss is shortlisted for private equity “Team of the Year” in the International Financial Law Review's 2023 IFLR Americas Awards.