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Private Equity & Investment Funds



Our experience and global network help investors raise capital and execute deals in the middle market.

NP Capital Connector® sources proprietary deal flow and connects companies with investors.

Our approach:

Investors need a law firm that delivers results, regardless of obstacles. Our national team tirelessly watches the market to forecast and capture new opportunities, manage risk and close deals. Our services cover all aspects of the middle market private equity space, including:

  • Counseling general partners and limited partners in connection with fund formation, management issues, investments in new funds, and secondary sales
  • Representing sponsors in transactions including buyouts, minority investments, growth equity, recapitalizations, distressed acquisitions and portfolio investment activities
  • Advising funds, family offices and managers in a variety of disputes and challenges ranging from risk management to control contests to liquidation
  • Counseling senior executives and management in the negotiation of employment and executive compensation agreements, including provisions dealing with change in control, severance and post-employment restrictions
  • Sourcing deals and making strategic introductions through our network of relationships with investors and buyers

In recognition of Nixon Peabody’s deal flow, Dow Jones Private Equity Analyst ranked us 4th in the U.S. for fund formation and investments, and fourteenth for private equity and venture capital transactions. The knowledge and connections gained through this volume of transactions translates to exceptional value and negotiating power for our clients.

With access to our specialty partners with extensive experience in tax, intellectual property, capital markets, leveraged finance, labor and employment, environmental and litigation, we deliver service and solutions on par with the world’s leading firms, but at a better value and structure for the middle market and lower middle markets.

NP Capital Connector®

As a leader in the middle market, we developed the NP Capital Connector® program to source proprietary deal flow and connect companies with investors. NP Capital Connector® has facilitated more than 1,200 introductions to more than 300 companies globally. About half of these opportunities are purely proprietary with average revenue of $35 million and EBITDA of $4 million.

Learn more about NP Capital Connector®.

Who we work with:

  • Private equity and investment funds
  • Pension funds
  • Search funds and independent sponsors
  • Strategic corporate investors
  • Family offices

Representative Experience

Fund Formation

  • Advised numerous sponsors on fund formations involving buy-outs, venture capital, debt/mezzanine, technology, infrastructure, real estate, energy, hedge, fund-of-fund, secondary and other investment strategies (ranging in fund size from $10 million to $1 billion+).
  • Representation of various emerging fund managers on the successful launch of their first-time funds, as well as counseling on various federal and state programs available to assist many of those managers.
  • Representation of multiple groups and individuals in connection with their spin-out from an existing institution and the corresponding startup of their newly restructured fund operations. Multiple representations involving the transition from fund founders to the next generation of leaders in the firm.
  • Counseled the advisory committees and/or specific investors in several investment funds in connection with the transitioning of management from the existing group to a new group (whether as part of “cause,” “no fault” or negotiated circumstances).
  • Acted as U.S. counsel to non-U.S. fund sponsors raising capital from U.S. investors and/or making U.S. investments.
  • Advised numerous pledge and independent sponsors on their structuring and private equity transactions.
  • Served as general counsel for one of the leading fund of funds in the world for more than 25 years. As its general counsel, we represent the client in connection with both the formation of its investment funds and its investments in other funds.
  • Representation of a global private markets investor forming fund-of-funds products and providing services in connection with investments in private equity funds.
  • Representation of a global investment consulting firm in connection with their alternative investment program. The client serves a diverse client base, including nonprofit organizations, foundations and other endowed institutions, as well as corporate, public and jointly trusteed retirement funds. They currently serve 160 retainer clients with combined assets of more than $1 trillion.

Fund Investments and Co-Investments

  • Extensive representation of various investors (including state pension systems, institutional investors, family offices, foundations and fund-of-funds) on their investment in leading investment funds in the U.S. and abroad.
  • Represented a customized funds investment group in connection with more than 300 investments in various private equity funds. In addition, we have represented them as fund counsel in the organization and offering of a number of sponsored private equity funds that are offered to various institutional and high-net-worth investors.
  • Advised multiple limited partners and institutional investors in connection with their fund co-investment transactions.

Fund Secondary Transactions

  • Advised numerous institutional investors on significant fund secondary sale transactions—some of which involved 100+ investment funds and/or exceeded $1 billion+ of commitments.
  • Represented various secondary buyers on their acquisition of limited partnership interests in investments funds.
  • Extensive advice to sponsors and investors on fund secondary auction processes, including bidding, documentation, negotiation, transfer agreements and closing.

Acquisitions and Private Equity Investments

  • Represent multiple sponsors on their acquisitions of companies (in the $10 million to $250 million+ range), many of which are leveraged acquisitions. Wide transactional experience in multiple industries including manufacturing, consumer products, services, food and beverage, technology, health/medical device and energy.
  • Represent sponsors and portfolio companies in connection with their roll-up acquisition strategies.
  • Extensive representations of companies conducting a sale or divestiture of their business (whether stock, asset, merger or other, in both proprietary processes and auction sales).
  • Represent multiple venture capital firms and/or companies on venture capital financings.
  • Advised various sponsors and companies on growth equity investments.
  • Counseling on equity and debt restructurings of portfolio companies, including dividend recapitalizations.
  • Represent individuals or groups in management-led buy-outs of companies.

Attorneys play critical role in startups

Buffalo Law Journal | May 26, 2017

Rochester private equity and investment funds partner Jeremy Wolk is quoted in this article about the critical role attorneys can have on the business team for startup companies.

Handing over the crown

Private Funds Management | May 01, 2017

New York City private equity and investment funds partner Ted Ughetta is quoted throughout this article about succession planning for private equity firms.

Law360 names attys who moved up the firm ranks in Q1

Law360 | April 28, 2017

This article mentions recent leadership promotions at the firm including David Brown, Jared Lusk, Jim Vallee, Graham Beck, Kathleen Ceglarski Burns, Emily Crandall Harlan, Daniel Gibbons, Linda Huber, Ilana Kameros, Haydon Keitner, Darren Miller, Neal Pandozzi, Edward Puerta, Stephen Reil, and Elizabeth Young.

Start Out partners with Nixon Peabody for first-ever diversity-focused law accelerator

Nibletz: The Voice of Startups Everywhere Else | April 26, 2017

San Francisco office managing partner Tom Gaynor is quoted in this article about the new StartOut Growth Lab in Nixon Peabody’s San Francisco office.

Supreme Court decides how far patent laws can reach

Rochester Business Journal | April 21, 2017

Rochester private equity and investment funds partner Jeremy Wolk, Washington DC IP counseling and transactions partner Jeff Costellia and Chicago IP counseling and transactions associate Angelo Christopher co-authored this column about a Supreme Court decision regarding the reach of U.S. patent rights for exported products.

Before acquiring a firm, check its cybersecurity setup

Rochester Business Journal | March 17, 2017

Rochester private equity and investment funds partner Jeremy Wolk and labor and employment associate Jenny Holmes co-authored this column about cybersecurity due diligence.

Kang’s take: How does private equity connect with millennials?

The Wall Street Journal | March 07, 2017

A Nixon Peabody Hot Topics event is mentioned in this article about how private equity firms can unlock the untapped potential of the consumer and retail sector by connecting with millenials and capitalizing on their preferences.

Thomas H. Lee invests in Professional Physical Therapy

The Deal | December 20, 2016

This article is about private equity firm Thomas H. Lee Partners LP ‘s recent investment in Professional Physical Therapy, a provider of physical therapy and rehabilitation services. Long Island health care partner Michele Masucci and associate JoAnna Nicholson are noted as representing Professional Physical Therapy.

Kochs and other Madoff investors are winners in fight over profits held abroad

The New York Times | November 22, 2016

Boston partner and co-leader of the commercial litigation practice Jon Sablone is quoted in this article about a recent ruling in federal bankruptcy court in favor of Madoff fund investors.

Directors’ fiduciary duties come into focus at year-end

Rochester Business Journal | November 11, 2016

Rochester Private Equity & Investment Funds partner Jeremy Wolk and M&A and Corporate Transactions associate Isaac Figueras authored this column about the fiduciary duties of boards of directors at year end.

Cloud Computing Service Details Require Careful Negotiation

Rochester Business Journal | August 19, 2016

Rochester private equity and investment funds partner Jeremy Wolk authored this column that discusses cloud service agreements.

Nixon Peabody lures back lawyer to lead funds practice

Boston Business Journal | June 02, 2016

This article highlights Boston partner and Fund Formation practice group leader Kari Harris’s return to Nixon Peabody.

The dealmaker behind the San Francisco Museum of Modern Art and Fisher Family partnership

Art Daily | May 16, 2016

This article features Nixon Peabody’s role as deal counsel and advisor to San Francisco Museum of Modern Art (SFMOMA) and the Fisher Family to create a first-of-its-kind collaboration between a museum and a collection. Los Angeles partner and Arts & Cultural Institutions leader Thad Stauber led the NP team in this unprecedented agreement with support from Washington, DC, partner Mike Cooney and Los Angeles partner Matt Grazier. SFMOMA opened to the public on May 14, featuring an expansive new addition displaying hundreds of pieces of postwar and contemporary art work from the Fisher Family.

LLCs should carefully choose an incentive compensation plan

Rochester Business Journal | April 15, 2016

Rochester partner Jeff LaBarge and associate Brian Mahoney authored this column in which they explore tax considerations around equity-based compensation plans.

People on the Move

Boston Business Journal | April 05, 2016

This coverage highlights Director of NP Capital Connector Carlo Porreca’s arrival to the firm.

In All Seriousness...Contracts Are Unintentionally Funny & Oddly Bizarre

The Deal | March 15, 2016

Private equity partner and Manchester managing partner Andrew Share authored this piece that recaps a top 15 list of actual contract provisions and contract negotiations that highlight some bad examples of what, no doubt, were well meaning intentions.

Private Fund Regulation in 2015—SEC Levels Up

Law360 | December 18, 2015

Boston partner and deputy chairman of the Private Investment Fund Disputes team Stephen LaRose and Boston associate Kathleen Ceglarski Burns co-authored this article. The piece discusses how the U.S. Securities and Exchange Commission’s focus on private fund advisers has shifted from learning and information gathering to examination and enforcement activity.

Indian American lawyer shortlisted for prestigious award

The Times of India | August 14, 2015

The feature story notes that Richa Naujoks has been shortlisted for Thomson Reuters Foundation's TrustLaw Lawyer of the Year award.

Why Roc: Cloud Computing Risks

WROC-TV (CBS Rochester) | April 22, 2015

Rochester Private Equity & Investment Funds partner Jeremy Wolk discusses the legal risks surrounding cloud computing.

Dealmakers

Daily Journal | November 20, 2014

Los Angeles Health Care partner Jill Gordon and associate Daniel Eliav and Los Angeles Private Equity & Investment Funds partner Matt Grazier and associate Stephen Reil’s representation of Apollo Medical Holdings is noted in this coverage of Apollo’s launch of a new subsidiary—Apollo Palliative Services, a source for hospice, palliative and home health services.

Pricey Deal Auctions Squeeze Small PE Players

Law360 | November 19, 2014

Partner and co-head of the Private Equity Transactions group Phil Taub is quoted in this article discussing how smaller private equity firms are impacted by auctions for a limited number of quality targets.

3 Tips on Forming an SEC-Compliant Private Equity Fund

Law360 | November 18, 2014

New York City Public Company Transactions partner Dan McAvoy provides commentary in this article discussing tips private equity firms can follow to create SEC-compliant funds.

3 Tips for Navigating Today's Crowded Deal Auctions

Law360 | September 25, 2014

Partner and co-head of the Private Equity Transactions group Phil Taub is quoted in this article on how the imbalance in the number of investors looking quickly close deals and the number of targets has forced bankers to elongate the auction process and potential buyers to adapt.

Contacts

Philip B. Taub

Partner
Head of Private Equity

ptaub@nixonpeabody.com

Phone: 617-345-1165

David A. Martland

Partner

dmartland@nixonpeabody.com

Phone: 617-345-6145

  • Dow Jones Private Equity Analyst
    • #4 for fund formation and investments (2013)
    • #14 for private equity transactions (2013)
  • M&A Advisor
    • Middle-Market Deal of the Year ($5 million–$25 million)
    • Cross-Border Deal of the Year ($5 million–$50 million)
  • Chambers USA—Nationwide ranking
  • U.S. News/Best Lawyers “Best Law Firms, including ” 2016 “Law Firm of the Year” in Health Care Law
  • Legal 500

Hot Topics in the Middle Market
Trends, insight and perspective on market and legal developments from our award-winning middle market private equity team

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