ProfessionalsPatrick N. Karsnitz
Patrick N. Karsnitz
Partner
Tel: +1-212-373-3084
Fax: +1-212-492-0084
emailpkarsnitz@paulweiss.com
A partner and deputy chair of the Tax Department, Patrick regularly advises investment fund and strategic clients in a broad range of domestic and international transactions. He focuses his practice primarily on the representation of private investment funds and their portfolio companies, including in taxable and tax-free mergers and acquisition transactions, fund formation, joint ventures, carve-outs, and financing and capital markets transactions. His practice includes advising clients on all aspects of investment management M&A transactions, including acquisitions, divestitures, majority and minority stake investments and spin-outs. Patrick also has extensive experience in both bankruptcy and other restructuring transactions. In 2017, The Legal 500 recognized Patrick as a “Next Generation” lawyer for his work on complex tax transactions.
EXPERIENCE
Patrick's representative clients include General Atlantic, Glenview Capital, Oaktree Capital Management, PointState Capital, and TowerBrook Capital Partners.
Patrick obtained his J.D. from the University of Virginia School of Law where he was elected to the Order of the Coif.
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IMG College and Learfield Complete Merger
- Dec 31, 2018
- Client News
IMG College and Learfield Complete Merger
In a deal bringing together two of sports’ largest multimedia rights and sponsorship businesses, Paul, Weiss represented IMG College, the collegiate division of Endeavor, in its merger with Learfield.
General Atlantic and Invoice Cloud Announce Strategic Partnership
- Dec 18, 2018
- Client News
General Atlantic and Invoice Cloud Announce Strategic Partnership
Paul, Weiss is representing General Atlantic in its strategic partnership with Invoice Cloud, Inc.
Oak Hill to Re-invest in Berlin Packaging
- Nov 29, 2018
- Client News
Oak Hill to Re-invest in Berlin Packaging
Paul, Weiss is advising Oak Hill Capital Partners in its recapitalization, alongside Canada Pension Plan Investment Board, in packaging products company Berlin Packaging L.L.C, a portfolio company of Oak Hill.
Nuance to Spin Off Automotive Business
- Nov 19, 2018
- Client News
Nuance to Spin Off Automotive Business
Paul, Weiss is representing Nuance Communications, Inc. in the spin-off of its automotive business segment into a new, publicly traded company.
Nuance to Sell Document Imaging Division to Kofax
- Nov 12, 2018
- Client News
Nuance to Sell Document Imaging Division to Kofax
Paul, Weiss is representing Nuance Communications, Inc. in the $400 million all-cash sale of its document imaging division to process automation software provider Kofax, Inc.
C&D Technologies to Acquire Trojan Battery
- Nov 06, 2018
- Client News
C&D Technologies to Acquire Trojan Battery
Paul, Weiss is representing C&D Technologies, Inc., a portfolio company of KPS Capital Partners, LP, in its acquisition of Trojan Battery Company, LLC from Charlesbank Capital Partners, LLC and other shareholders.
New Proposed Regulations on Section 956 and “Deemed Dividends” from Controlled Foreign Corporations
- Nov 01, 2018
- Publications
New Proposed Regulations on Section 956 and “Deemed Dividends” from Controlled Foreign Corporations
On October 31, 2018, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released proposed regulations (the “Proposed Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as…
Rockefeller Group Receives Loan from Sumitomo Mitsui for New Development Project
- Sep 28, 2018
- Client News
Rockefeller Group Receives Loan from Sumitomo Mitsui for New Development Project
Paul, Weiss represented Rockefeller Group Development Corporation in the development financing for a new residential condominium tower project in Manhattan.
New IRS and Treasury Guidance on Qualified Opportunity Zone Program
- Oct 23, 2018
- Publications
New IRS and Treasury Guidance on Qualified Opportunity Zone Program
As part of the U.S. federal tax legislation enacted into law last year, Congress added provisions that provide tax benefits to encourage investments in designated low-income communities known as qualified opportunity zones (“QOZs”).
General Atlantic Leads Investment in pymetrics
- Sep 27, 2018
- Client News
General Atlantic Leads Investment in pymetrics
Paul, Weiss advised General Atlantic as lead investor in a $40 million Series B funding round in pymetrics, an enterprise SaaS company founded by female neuroscientists that uses neuroscience and AI to make the recruitment process…
Engility to Be Acquired by SAIC for $2.5 Billion
- Sep 10, 2018
- Client News
Engility to Be Acquired by SAIC for $2.5 Billion
Paul, Weiss is representing General Atlantic as a selling shareholder of Engility Holdings Inc. in Engility’s all-stock acquisition by Science Applications International Corp. (SAIC).
Treasury Department Releases Regulations Concerning Section 199A
- Aug 24, 2018
- Publications
Treasury Department Releases Regulations Concerning Section 199A
Recently-enacted Section 199A allows individuals, trusts and estates to deduct up to 20% of “qualified business income” from certain businesses operated in pass-through form (the “Section 199A Deduction”), and is intended to provide…
General Atlantic Invests in European Wax Center
- Aug 21, 2018
- Client News
General Atlantic Invests in European Wax Center
Paul, Weiss is representing General Atlantic in its strategic investment in leading beauty lifestyle brand franchise European Wax Center.
Movado to Acquire MVMT Watches
- Aug 17, 2018
- Client News
Movado to Acquire MVMT Watches
Paul, Weiss is advising Swiss watchmaker Movado Group, Inc. in its acquisition of MVMT Watches Inc., an emerging international watches and accessories brand.
CLEAResult Acquired by TPG Growth and The Rise Fund
- Aug 08, 2018
- Client News
CLEAResult Acquired by TPG Growth and The Rise Fund
Paul, Weiss represented General Atlantic and CLEAResult, the country’s leading provider of energy efficiency solutions for utility companies, in the acquisition of CLEAResult by TPG Growth and The Rise Fund.
The Stars Group Completes Acquisition of Sky Betting & Gaming and $6.8 Billion Financing
- Jul 13, 2018
- Client News
The Stars Group Completes Acquisition of Sky Betting & Gaming and $6.8 Billion Financing
Paul, Weiss advised Canadian online gaming company The Stars Group in its $6.8 billion financing in connection with Stars’ acquisition of U.K.-based Sky Betting & Gaming.
General Atlantic Leads Series E Funding for SigFig
- Jun 19, 2018
- Client News
General Atlantic Leads Series E Funding for SigFig
Paul, Weiss advised General Atlantic in leading a $50 million Series E funding of SigFig, a San Francisco-based financial technology company for banks, advisors and consumers.
General Atlantic to Sell CLEAResult
- Jun 18, 2018
- Client News
General Atlantic to Sell CLEAResult
Paul, Weiss is representing General Atlantic in its sale of CLEAResult, the country’s leading provider of energy efficiency solutions for utility companies, to TPG Growth and The Rise Fund.
General Atlantic Leads Series E Funding for Opendoor
- Jun 13, 2018
- Client News
General Atlantic Leads Series E Funding for Opendoor
Paul, Weiss advised General Atlantic in its $325 million Series E funding, alongside Access Technology Ventures and Lennar Corporation, of Opendoor, an online real estate marketplace that simplifies home buying and selling.
Taylor Morrison to Acquire AV Homes for $963 Million
- Jun 07, 2018
- Client News
Taylor Morrison to Acquire AV Homes for $963 Million
Paul, Weiss is representing homebuilder Taylor Morrison Home Corporation (NYSE: TMHC) in its acquisition of AV Homes, Inc. (NASDAQ: AVHI).
GIS and HireRight to Merge
- May 25, 2018
- Client News
GIS and HireRight to Merge
Paul, Weiss is representing General Information Services (GIS), a portfolio company of Paul, Weiss client General Atlantic, in its merger with HireRight.
KPS Creates Autokiniton Global Group and Acquires L&W
- May 01, 2018
- Client News
KPS Creates Autokiniton Global Group and Acquires L&W
Paul, Weiss advised KPS Capital Partners in the creation of a new company, Autokiniton Global Group, LP (AGG) to pursue investments in the global automotive supply industry.
The Stars Group to Acquire Sky Betting & Gaming for $4.7 Billion
- Apr 21, 2018
- Client News
The Stars Group to Acquire Sky Betting & Gaming for $4.7 Billion
Paul, Weiss is representing Canadian online gaming company The Stars Group Inc. in its $4.7 billion cash-and-stock acquisition of U.K.-based gambling company Sky Betting & Gaming from CVC Capital Partners and Sky plc.
Current Telecom Developments
- Mar 30, 2018
- Publications
Current Telecom Developments
In this issue: President Signs Appropriations Bill with FCC Reauthorization and Broadcast Repack Funding Provisions; FCC to Consider Ban on USF Support for Purchases from Equipment Suppliers Deemed to Pose Security Risk
General Atlantic Invests in Landmark Health
- Mar 28, 2018
- Client News
General Atlantic Invests in Landmark Health
Paul, Weiss is representing General Atlantic in its investment in Landmark Health, a group that provides home-based medical care for chronically ill patients.
IEA Energy Completes Merger With M III Acquisition
- Mar 26, 2018
- Client News
IEA Energy Completes Merger With M III Acquisition
Paul, Weiss represented energy infrastructure company IEA Energy Services LLC in its merger with M III Acquisition Corp, a special purpose acquisition company.
Qualcomm Enters into Amended Definitive Agreement to Acquire NXP for $44 Billion
- Feb 20, 2018
- Client News
Qualcomm Enters into Amended Definitive Agreement to Acquire NXP for $44 Billion
Paul, Weiss is representing Qualcomm Incorporated in its amended agreement with NXP Semiconductors N.V. to increase to $127.50 per share its previously announced cash tender offer to purchase all outstanding shares of NXP.
General Atlantic Invests in Benevity
- Jan 24, 2018
- Client News
General Atlantic Invests in Benevity
Paul, Weiss is representing General Atlantic LLC in its strategic investment in Benevity, Inc., a global provider of corporate social responsibility and employee engagement software.
General Atlantic Makes Investment in Alkami Technology
- Jan 09, 2018
- Client News
General Atlantic Makes Investment in Alkami Technology
Paul, Weiss represented General Atlantic in its strategic investment in Alkami Technology Inc., a leading provider of digital banking solutions to credit unions and banks.
Update on the Enactment of the Tax Cuts and Jobs Act
- Jan 03, 2018
- Publications
Update on the Enactment of the Tax Cuts and Jobs Act
On December 22, President Trump signed Public Law No. 115-97, formerly known as the “Tax Cuts and Jobs Act” (the “Act”), into law. In this memorandum, we summarize key provisions of the Act, including those concerning individuals,…
Nellson Nutraceutical Acquires Genysis Brand Solutions
- Dec 04, 2017
- Client News
Nellson Nutraceutical Acquires Genysis Brand Solutions
Paul, Weiss represented Nellson Nutraceutical, LLC in its acquisition of Genysis Brand Solutions Inc.
Update on the Tax Cuts and Jobs Act
- Nov 14, 2017
- Publications
Update on the Tax Cuts and Jobs Act
The Senate Finance Committee released its draft of the Tax Cuts and Jobs Act on November 9. The Senate’s initial tax reform proposal differs substantially from the House version. We compare the two proposals, and also describe…
Introduction to the Tax Cuts and Jobs Act
- Nov 07, 2017
- Publications
Introduction to the Tax Cuts and Jobs Act
On November 2, 2017, House Ways and Means Committee Chairman Kevin Brady (R-TX) released a comprehensive tax reform bill titled the “Tax Cuts and Jobs Act,” on November 3, 2017 Chairman Brady proposed an Amendment in the Nature of a…
IEA Energy and M III Acquisition To Merge
- Nov 06, 2017
- Client News
IEA Energy and M III Acquisition To Merge
Paul, Weiss is representing renewable energy infrastructure company IEA Energy Services LLC in its $255 million merger with M III Acquisition Corp.
Wilton Brands Sells Simplicity Creative Group to CSS Industries
- Nov 03, 2017
- Client News
Wilton Brands Sells Simplicity Creative Group to CSS Industries
Paul, Weiss represented craft and consumer products company Wilton Brands LLC in its all-cash sale of the domestic and international business of Simplicity Creative Group to controlled affiliates of CSS Industries, Inc.
General Atlantic Completes Acquisition of a Stake in Authentic Brands
- Oct 25, 2017
- Client News
General Atlantic Completes Acquisition of a Stake in Authentic Brands
Paul, Weiss represented General Atlantic LLC in its acquisition of a minority stake in Authentic Brands Group LLC, a brand development, marketing, licensing and entertainment company.
eviCore to Be Acquired by Express Scripts for $3.6 Billion
- Oct 10, 2017
- Client News
eviCore to Be Acquired by Express Scripts for $3.6 Billion
As reported by Bloomberg, The Washington Post and other media outlets, Paul, Weiss is representing eviCore healthcare in its $3.6 billion acquisition by Express Scripts Holding Company.
Treasury Reveals Plans Regarding Certain 2016 Tax Rules, Including Disguised Sale and Debt/Equity Regulations
- Oct 10, 2017
- Publications
Treasury Reveals Plans Regarding Certain 2016 Tax Rules, Including Disguised Sale and Debt/Equity Regulations
The United States Department of the Treasury submitted its highly anticipated final report to President Trump announcing its plans to pare back eight tax regulations that it had previously identified in June of 2017 under Executive…
General Atlantic Invests in Sonendo
- Sep 20, 2017
- Client News
General Atlantic Invests in Sonendo
Paul, Weiss represented General Atlantic in its strategic investment in leading dental technology company Sonendo, Inc.
Kohlberg to Acquire SpecialtyCare from American Securities
- Sep 05, 2017
- Client News
Kohlberg to Acquire SpecialtyCare from American Securities
Paul, Weiss is representing Kohlberg & Company, L.L.C. in its partnership with the management team of SpecialtyCare, a leading provider of outsourced medical services, to acquire the company from American Securities.
General Atlantic Makes Strategic Investment in Mi9 Retail
- Jul 06, 2017
- Client News
General Atlantic Makes Strategic Investment in Mi9 Retail
Paul, Weiss advised leading global growth equity firm General Atlantic in its strategic investment in Mi9 Retail, a global supplier of omni-channel retail software.
General Atlantic and Silver Lake Announce Acquisition of A Place for Mom
- Jul 05, 2017
- Client News
General Atlantic and Silver Lake Announce Acquisition of A Place for Mom
Paul, Weiss represented the buying consortium of General Atlantic and Silver Lake in their proposed acquisition of A Place for Mom, a portfolio company of Warburg Pincus.
SnapAV to Be Acquired by Hellman & Friedman
- Jun 20, 2017
- Client News
SnapAV to Be Acquired by Hellman & Friedman
Paul, Weiss is representing SnapAV, a portfolio company of General Atlantic, in its sale to affiliates of Hellman & Friedman LLC.
General Atlantic to Make Strategic Investment in Grupo Axo
- May 30, 2017
- Client News
General Atlantic to Make Strategic Investment in Grupo Axo
Paul, Weiss is representing General Atlantic in its strategic investment in Grupo Axo, a top multi-brand retailer in Mexico.
Centerbridge to Divest Shares in Focus Financial
- Apr 20, 2017
- Client News
Centerbridge to Divest Shares in Focus Financial
Paul, Weiss is representing Centerbridge Partners in its sale of shares in Focus Financial Partners, a leading international partnership of independent, fiduciary wealth management firms.
Virtu Financial To Acquire KCG Holdings for $1.4 Billion
- Apr 20, 2017
- Client News
Virtu Financial To Acquire KCG Holdings for $1.4 Billion
Paul, Weiss is representing high-speed trading firm Virtu Financial, Inc. in its approximately $1.4 billion all-cash acquisition of retail electronic trading firm KCG Holdings, Inc.
General Atlantic and Torchy’s Tacos Announce Strategic Partnership
- Apr 18, 2017
- Client News
General Atlantic and Torchy’s Tacos Announce Strategic Partnership
Paul, Weiss is representing General Atlantic in its significant minority investment in Torchy’s Tacos, a fast-casual restaurant serving untraditional tacos.
Delaware Supreme Court Affirms Decision Permitting Merger Termination Based on Failure to Satisfy Tax Opinion Covenant
- Mar 27, 2017
- Publications
Delaware Supreme Court Affirms Decision Permitting Merger Termination Based on Failure to Satisfy Tax Opinion Covenant
In a 4-1 split decision in The Williams Cos., Inc. v. Energy Transfer Equity, L.P., et al., the Delaware Supreme Court affirmed the Court of Chancery’s decision permitting termination of a merger agreement by the acquirer based on the …
Alignment Healthcare Announces Equity Investment from Warburg Pincus
- Mar 09, 2017
- Client News
Alignment Healthcare Announces Equity Investment from Warburg Pincus
Paul, Weiss represented Alignment Healthcare, a population health management company and portfolio company of General Atlantic, in its agreement to receive a $115 million growth investment from Warburg Pincus.
General Atlantic Makes Strategic Investment in General Information Services
- Mar 03, 2017
- Client News
General Atlantic Makes Strategic Investment in General Information Services
Paul, Weiss represented General Atlantic, a leading global growth equity firm, in their strategic investment in General Information Services, a nationally accredited background check company.
Panama Paper Journalists Complete Spinoff Into Independent Nonprofit News Organization
- Mar 01, 2017
- Client News
Panama Paper Journalists Complete Spinoff Into Independent Nonprofit News Organization
Paul, Weiss represented the organization behind the Panama Papers, the International Consortium of Investigative Journalists (ICIJ), in its spinoff from the Center for Public Integrity, which founded ICIJ in 1997.
General Atlantic Leads Series E Financing in Turbonomic
- Jan 24, 2017
- Client News
General Atlantic Leads Series E Financing in Turbonomic
Paul, Weiss represented General Atlantic in connection with its lead investment in a Series E financing round of Turbonomic, Inc., one of the fastest growing technology companies in the virtualization and cloud space.
General Atlantic to Sell Stake in TriNet to Atairos
- Dec 22, 2016
- Client News
General Atlantic to Sell Stake in TriNet to Atairos
Paul, Weiss is representing General Atlantic in the sale of its remaining ownership stake in TriNet, a provider of human resources solutions, to Atairos Group, Inc.
General Atlantic to Acquire Majority Stake in Hemnet
- Dec 21, 2016
- Client News
General Atlantic to Acquire Majority Stake in Hemnet
Paul, Weiss is representing General Atlantic in their agreement to acquire a majority stake in Hemnet, Sweden's leading online real estate classifieds platform.
Estée Lauder to Acquire Too Faced Cosmetics for $1.45 Billion
- Nov 14, 2016
- Client News
Estée Lauder to Acquire Too Faced Cosmetics for $1.45 Billion
The Estée Lauder Companies Inc. announced that it will acquire Paul, Weiss client Too Faced Cosmetics, LLC, a feminine makeup brand and General Atlantic portfolio company for approximately $1.45 billion.
Qualcomm to Acquire NXP
- Oct 27, 2016
- Client News
Qualcomm to Acquire NXP
Paul, Weiss is representing wireless technology leader Qualcomm Incorporated in its agreement to acquire NXP Semiconductors for $47 billion.
Client Alert: Treasury Issues Final Debt/Equity Regulations, Tempers Controversial Approach Taken in Proposed Regulations
- Oct 28, 2016
- Publications
Client Alert: Treasury Issues Final Debt/Equity Regulations, Tempers Controversial Approach Taken in Proposed Regulations
On October 13, 2016, the U.S. Department of Treasury released the highly-anticipated final and temporary regulations under Section 385 of the Internal Revenue Code.
Client Alert: New Regulations Eliminate Leveraged Partnership Transactions, Modify Proposed Rules for Allocation of Partnership Liabilities
- Oct 19, 2016
- Publications
Client Alert: New Regulations Eliminate Leveraged Partnership Transactions, Modify Proposed Rules for Allocation of Partnership Liabilities
On October 5, 2016, the U.S. Department of Treasury and the Internal Revenue Service (together referred to as the "Service") finalized previously proposed regulations regarding the allocation of partnership liabilities and…
Aleris to Be Acquired by Zhongwang
- Aug 29, 2016
- Client News
Aleris to Be Acquired by Zhongwang
As reported by The Wall Street Journal, Reuters and other media outlets, Aleris Corporation, a global aluminum rolled products producer and portfolio company of Paul, Weiss client Oaktree Capital Management,…
E-Trade to Acquire OptionsHouse
- Jul 25, 2016
- Client News
E-Trade to Acquire OptionsHouse
E*TRADE Financial Corporation announced that it has agreed to acquire Paul, Weiss client Aperture New Holdings, Inc., the parent company of OptionsHouse, for $725 million in cash.
Client Alert: Treasury Proposes Changes to Tax-Free “Spin-Off” Rules
- Jul 21, 2016
- Publications
Client Alert: Treasury Proposes Changes to Tax-Free “Spin-Off” Rules
On July 14, 2016, the U.S. Department of Treasury issued proposed regulations and on July 15, 2016 the IRS issued Revenue Procedure 2016-40, both regarding the requirements for a tax-free spin-off pursuant to Section 355 of the…
Hostess Brands Announces Sale Agreement With Gores Holdings
- Jul 05, 2016
- Client News
Hostess Brands Announces Sale Agreement With Gores Holdings
As reported by The New York Times, Bloomberg, The Wall Street Journal and other media outlets, Hostess Brands LLC announced it has entered into a definitive agreement with Gores Holdings, Inc., a special…
General Atlantic Makes Strategic Investment in Insurity
- Jun 29, 2016
- Client News
General Atlantic Makes Strategic Investment in Insurity
Insurity, Inc., a provider of core insurance processing software and data integration and analytics solutions, announced that Paul, Weiss client General Atlantic, a leading global growth equity firm, has made a strategic growth…
Client Alert: Delaware Court of Chancery Holds That Outside Counsel’s Refusal to Render Tax Opinion Required for Closing of Merger Was in Good Faith and Permits Termination of Merger Agreement
- Jun 29, 2016
- Publications
Client Alert: Delaware Court of Chancery Holds That Outside Counsel’s Refusal to Render Tax Opinion Required for Closing of Merger Was in Good Faith and Permits Termination of Merger Agreement
In The Williams Companies, Inc. v. Energy Transfer Equity, L.P., et al., the Delaware Court of Chancery held that an acquirer in a merger did not fail to use "commercially reasonable efforts" to obtain a tax opinion from its tax…
Toys “R” Us Agrees to Refinance with Key Noteholders
- Jun 13, 2016
- Client News
Toys “R” Us Agrees to Refinance with Key Noteholders
Toys "R" Us, Inc. entered into a support agreement with noteholders of approximately 50 percent of the company's $850 million in debt scheduled to mature in 2017 and 2018.
Dana Closes Senior Notes Offering
- May 27, 2016
- Client News
Dana Closes Senior Notes Offering
Paul, Weiss client Dana Holding Corporation, a worldwide supplier of auto parts, closed a private offering by its wholly owned subsidiary, Dana Financing Luxembourg S.à r.l., of $375 million in aggregate principal amount of…
General Atlantic Leads Series C Funding in Seismic
- May 25, 2016
- Client News
General Atlantic Leads Series C Funding in Seismic
Seismic, a leading enterprise software company, announced that Paul, Weiss client General Atlantic has led a strategic growth investment in the company through a Series C round of funding.
General Atlantic and Flipp Announce Strategic Partnership
- Apr 14, 2016
- Client News
General Atlantic and Flipp Announce Strategic Partnership
Paul, Weiss client General Atlantic and Flipp Corporation, a Toronto-based mobile consumer marketplace, announced that General Atlantic has made a strategic investment in the company.
Sale of Privalia to Vente-Privée
- Apr 13, 2016
- Client News
Sale of Privalia to Vente-Privée
General Atlantic's portfolio company Privalia, a European and Latin American online retailer, was sold to French online retailer Vente- Privée.com.
Client Alert: Treasury Issues Inversion Regulations, Proposes Sweeping Changes to Debt/Equity Classification
- Apr 11, 2016
- Publications
Client Alert: Treasury Issues Inversion Regulations, Proposes Sweeping Changes to Debt/Equity Classification
On April 4, 2016, as the most recent step in its ongoing battle against inversion transactions, the U.S. Department of Treasury issued both new temporary and proposed regulations addressing certain inversion and post-inversion…
Client Alert: Fiscal Year 2017 Budget Update
- Feb 10, 2016
- Publications
Client Alert: Fiscal Year 2017 Budget Update
On Tuesday, February 9, 2016, the White House released President Obama's Budget for Fiscal Year 2017.
Update: PATH Act Enacts Notable Changes to REIT and FIRPTA Provisions
- Jan 05, 2016
- Publications
Update: PATH Act Enacts Notable Changes to REIT and FIRPTA Provisions
On Friday, December 18, 2015, President Barack Obama signed the "Protecting Americans from Tax Hikes Act of 2015" ("PATH Act").
General Atlantic Takes Minority Stake in Barteca
- Dec 16, 2015
- Client News
General Atlantic Takes Minority Stake in Barteca
Barteca Holdings, the parent company of Barcelona Wine Bar and Bartaco, announced a minority investment from Paul, Weiss client General Atlantic, a leading growth equity firm.
Client Alert: Extenders Bill Would Curtail OpCo-PropCo Spin-Off Transactions
- Dec 10, 2015
- Publications
Client Alert: Extenders Bill Would Curtail OpCo-PropCo Spin-Off Transactions
On Monday, December 8, 2015, House Ways and Means Committee Chairman Rep. Kevin Brady (R-Texas) introduced the "Tax Increase Prevention and Real Estate Investment Act of 2015" (the "Extenders Bill"). This bill, if enacted in its…
General Atlantic Makes Strategic Investment in Network International
- Nov 26, 2015
- Client News
General Atlantic Makes Strategic Investment in Network International
Paul, Weiss client General Atlantic, along with Warburg Pincus, announced the acquisition of a 49 percent stake in Network International, the largest payments solutions provider in the Middle East and Africa, from The Abraaj…
Client Alert: New Guidance Takes Another Run at Inversions
- Nov 23, 2015
- Publications
Client Alert: New Guidance Takes Another Run at Inversions
In light of a resurgence of potential inversion activity, including stories about a possible Pfizer/Allergan merger, the Treasury Department and the Internal Revenue Service issued additional guidance that is generally intended…
Berlin Packaging Acquires Diablo Valley Packaging
- Nov 10, 2015
- Client News
Berlin Packaging Acquires Diablo Valley Packaging
Paul, Weiss client Berlin Packaging, a leading rigid packing supplier, announced the acquisition of California-based Diablo Valley Packaging.
Client Alert: Changes to Partnership Audit Procedures May Increase Audit Activity
- Nov 03, 2015
- Publications
Client Alert: Changes to Partnership Audit Procedures May Increase Audit Activity
On Monday, November 2, 2015, President Obama signed the Bipartisan Budget Act of 2015 ("BBA"). The BBA significantly alters the rules governing partnership audits, most notably by imposing liability for audit…
Avant Announces $325 Million Funding Round Led by General Atlantic
- Sep 30, 2015
- Client News
Avant Announces $325 Million Funding Round Led by General Atlantic
As reported by The Wall Street Journal, Fortune, Bloomberg and other media outlets, Avant Inc., a marketplace lending platform, announced a definitive agreement related to a $325 million equity finance round led by Paul, Weiss…
Client Alert: Management Fee Waiver Update - Treasury Issues Proposed Regulations Addressing Disguised Payments from Partnerships for Services
- Jul 24, 2015
- Publications
Client Alert: Management Fee Waiver Update - Treasury Issues Proposed Regulations Addressing Disguised Payments from Partnerships for Services
On Wednesday, July 22, 2015, the Treasury Department and the Internal Revenue Service (the "IRS") released proposed regulations on disguised payments from partnerships (including investment funds) for services (the "Proposed…
General Atlantic to Acquire Majority Stake in EN Engineering
- Jul 01, 2015
- Client News
General Atlantic to Acquire Majority Stake in EN Engineering
Paul, Weiss client General Atlantic and EN Engineering, a leading utility engineering, consulting and compliance services firm, announced the launch of a new partnership in which General Atlantic will acquire a majority stake in…
General Atlantic to Acquire Majority Stake in Too Faced Cosmetics
- Jun 04, 2015
- Client News
General Atlantic to Acquire Majority Stake in Too Faced Cosmetics
As reported in the Wall Street Journal and other media outlets, Paul, Weiss client General Atlantic, a leader in global growth investing, and Too Faced Cosmetics, a leading global beauty brand, announced the launch of a new…
Houghton Mifflin Harcourt to Acquire Scholastic’s Educational Technology and Services Business for $575 Million
- Apr 23, 2015
- Client News
Houghton Mifflin Harcourt to Acquire Scholastic’s Educational Technology and Services Business for $575 Million
Paul, Weiss client Houghton Mifflin Harcourt announced that it has entered into an agreement to acquire the Educational Technology and Services division of Scholastic Corporation for $575 million in cash. The deal is…
MedExpress to Be Acquired by Optum
- Apr 08, 2015
- Client News
MedExpress to Be Acquired by Optum
Optum, a leading health services company, announced it is acquiring MedExpress, a portfolio company of Paul, Weiss client General Atlantic. MedExpress is a national leader in high-quality, affordable walk-in care. Terms of the…
TowerBrook to Acquire J.Jill
- Mar 31, 2015
- Client News
TowerBrook to Acquire J.Jill
Paul, Weiss client TowerBrook Capital Partners L.P., a New York and London-based investment management firm, announced that it has entered into a definitive agreement to purchase J.Jill, a leading multi-channel fashion retailer…
Oaktree Affiliates to Acquire Pulse Electronics
- Mar 02, 2015
- Client News
Oaktree Affiliates to Acquire Pulse Electronics
Pulse Electronics Corporation announced that it has entered into a definitive agreement with certain affiliates of investment funds managed by Paul, Weiss client Oaktree Capital Management, L.P. Under the transaction, which will…
CareCore and MedSolutions Complete Merger
- Dec 04, 2014
- Client News
CareCore and MedSolutions Complete Merger
Paul, Weiss client CareCore National, LLC and MedSolutions, Inc., two leading providers of specialty benefits management services to managed care organizations and risk-bearing provider organizations, announced the completion of…
Vox Media and General Atlantic Enter Strategic Partnership
- Dec 01, 2014
- Client News
Vox Media and General Atlantic Enter Strategic Partnership
As reported in The New York Times and other media outlets, Vox Media, one of the world's fastest-growing media companies, and Paul, Weiss client General Atlantic announced the launch of a new strategic partnership, with …
Oaktree to Acquire Interest in Hess Energy Trading Company
- Oct 27, 2014
- Client News
Oaktree to Acquire Interest in Hess Energy Trading Company
Hess Energy Trading Company LLC (HETCO), a leading global marketer and trader of energy commodities, announced that funds managed by Paul, Weiss client Oaktree Capital Management L.P. will acquire an interest in the firm held by…
International Strategy & Investment To Be Acquired by Evercore
- Aug 03, 2014
- Client News
International Strategy & Investment To Be Acquired by Evercore
As reported in The New York Times "Dealbook," Bloomberg and other media outlets, Evercore announced that it has entered into an agreement to acquire the operating business of Paul, Weiss client International Strategy &…
Preferred Sands Closes on Comprehensive Restructuring Transaction
- Jul 31, 2014
- Client News
Preferred Sands Closes on Comprehensive Restructuring Transaction
Paul, Weiss client Preferred Sands, one of North America's largest producers of sand and resin coated proppants, closed on a comprehensive restructuring. KKR, a leading global investment firm, provided $680 million of debt and…
General Atlantic Completes Investment in Alignment Healthcare
- Apr 18, 2014
- Client News
General Atlantic Completes Investment in Alignment Healthcare
Paul, Weiss client General Atlantic completed a significant investment in Alignment Healthcare, LLC, a risk-bearing, provider-led care management business that partners with payors and providers to enable shared risk models that…
General Atlantic to Acquire and Merge Online Brokers
- May 27, 2014
- Client News
General Atlantic to Acquire and Merge Online Brokers
Paul, Weiss client General Atlantic announced definitive agreements to acquire and combine two online brokerage firms - OptionsHouse, LLC and tradeMonster. Under the terms of the agreements, GA will acquire OptionsHouse from its…