On July 18, 2013, the Securities and Exchange Commission (SEC) entered into a memorandum of understanding (MOU) with various member states of the European Union (EU) and European Economic Area (EEA) formalizing an agreement that facilitates the sharing of information and other assistance between the regulators in relation to private fund managers with operations that are subject to oversight in the United States and in one of the European jurisdictions. The SEC and the European Securities and Markets Authority (ESMA),...

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EACCNY member, NautaDutilh Brussels office published its first report on expectations in the Belgian private equity and venture capital sector. In addition to charting market expectations, the report highlights a number of specificities of the Belgian market, such as the importance of the life sciences and energy sectors, distressed M&A, and family businesses. A total of 57 respondents, including private equity and venture capital professionals, bankers, corporate finance advisors, and university professors, completed our online survey and provided valuable feedback. The...

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EACC New York member, the National Corporate Theatre Fund reports that the 50th anniversaries of five NCTF theatres, Actors Theatre of Louisville, The Guthrie, Hartford Stage, Seattle Rep and Trinity Rep, garnered a $250,000 grant from the Ford Foundation to fund new work.   This support celebrates the role of the Foundation in kicking off the regional theatre movement in full force 50 years ago, and we were delighted that Luis Ubiñas, President of Ford, bestowed our Achievement in Theatre...

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Soaring through the sky, using not a single speck of conventional fuel, Solar Impulse achieved its fourth world record in July as it successful flew from coast to coast across America. With the weight of a car and the wingspan of a 747, Solar Impulse, as stated by Bertrand Piccard, “was not built to carry passengers but to convey messages.” In hangar 19 of JFK on the 13th of July one could feel the excitement in the air as...

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This article analyzes the legal risks and potential consequences of private equity firms collaborating with one another to create consortiums or so-called "clubs" to jointly bid for acquisition of a publicly listed target company. These kind of transactions are more commonly referred to as "club deals" in the mergers and acquisitions world. From 2003 through 2007 club deals became a staple of the leveraged-buyout (LBO) industry. With the rise of clubs, many large-cap companies came within the reach of...

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