Weekly highlights of what’s happening at Ropes & Gray:
- Our private equity clients announced more deals this week, rounding out a busy month for our corporate teams:
- TPG Capital announced another substantial investment in the health care sector this week, acquiring Florida-based medical device maker, Exactech, in a deal valued at $625 million. Exactech is a leading developer and producer of orthopaedic implant devices and surgical instrumentation
- TSG Consumer Partners announced the sale of its stake in PAIGE to Lion Capital. PAIGE’s trendsetting premium denim, clothing and accessories are sold at PAIGE boutiques in Los Angeles and New York and in over 80 countries worldwide.
- The firm announced 12 new partners and three new counsel in seven offices worldwide. “The outstanding legal advice and client service these accomplished attorneys provide every day strengthens our partnership with our distinguished clients,” said firm chair Brad Malt.
- As we enter the final quarter of 2017, companies begin to assess year-over-year trends, particularly in financial services. An article published by BoardIQ reports that mutual funds are cutting management and advisory fees at a higher rate in 2017 than in 2016. Investment management partner and practice co-leader Tom Hiller notes a shift in the fee calculus: “There’s been a progression from considering what is a reasonable fee to what is a saleable fee.”
- A new development from the Treasury Department compounds the emerging popularity of interval funds. Investment management partner Brian McCabe discusses the Treasury’s recommended regulatory change, which is intended to encourage broader investment in closed-end funds, in an article by Ignites.
- China extended a series of regulatory updates across a number of industries with the announcement of new policies from the China Food and Drug Administration (CFDA). The CFDA’s proposed changes to the Drug Administration Law and the Drug Registration Rules are expected to speed up drug approvals and spur growth in the pharmaceutical industry. Life Sciences partner Katherine Wang evaluates the potential impact of the new rules.
- A group of accomplished businesswomen convened in our Shanghai office for its inaugural Women’s Forum client event. Ruby Chen, the Co-Founder and CEO of CNEX Studio and CNEX Foundation, a non-profit organization focusing on documentary production, delivered an inspiring keynote speech that prompted attendees to reflect on career development and personal growth.
- Follow us on Twitter @RopesGray for legal insights and the latest firm news.
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