The Week at Ropes & Gray: Global Transactions; New Podcast in Conductive Discussions Series; Converting Open-End Funds into ETFs; Firm Leads Secondaries Work by Deal Volume
Below are weekly highlights of what’s happening at Ropes & Gray:
- Our clients announced a variety of complex, global transactions:
- Baring Private Equity Asia announced two significant transactions this week: the closing of the merger of Clarivate Analytics Plc, a global research provider, and Churchill Capital Corp, a publicly traded investment vehicle; and its investment in JD Health, an online health care platform, as part of its Series A preferred share financing. Ropes & Gray is advising Baring on both transactions.
- Truck Hero, Inc., a portfolio company of CCMP Capital Advisors LP, announced its strategic acquisition of Lund International Holdings Company, a designer, manufacturer and marketer of branded automotive accessories. Ropes & Gray is advising Truck Hero and CCMP Capital Advisors in the acquisition.
- Silversmith Capital Partners and Leerink Transformation Partners announced a minority growth investment in health care analytics company BHE. Ropes & Gray is advising Silversmith Capital Partners and LTP in the investment.
- Advent International announced its definitive agreement to acquire AccentCare, Inc., a nationwide leader in post-acute health care, from Oak Hill Capital Partners. Ropes & Gray is advising Advent International in the transaction.
- BV Investment Partners announced its strategic minority investment partnership with CivicPlus, which provides a technology platform for local government. Ropes & Gray is advising BV Investment Partners in the partnership.
- Altice Europe announced the successful pricing and allocation of €2.8 billion of new 8-year senior notes at Altice Luxembourg SA following a well-oversubscribed offering. Ropes & Gray is advising Altice Europe in the transaction.
- The Securities and Exchange Commission recently published a notice that would permit an actively managed exchange-traded fund to operate without being subject to the current daily portfolio transparency condition included in past active ETF orders. Ropes & Gray asset management attorneys anticipate that this structure may be attractive to many active managers, and that they may seek to offer their strategies as ETFs. In this article, our attorneys examine key considerations in converting an existing traditional open-end fund into an ETF.
- A snapshot of law firms' secondaries work in 2018 by volume, deal count and strategy was recently revealed by Secondaries Investor in its annual law firm survey. The article highlighted that Ropes & Gray leads responding firms by deal volume, having advised on 145 secondary transactions in 2018.
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