Thoma Bravo has announced the closing of three new funds with a combined $32.4 billion.
The firm closed Thoma Bravo Fund XV with $24.3 billion, Thoma Bravo Discover Fund IV with $6.2 billion and Thoma Bravo Explore Fund II with $1.8 billion.
Thoma Bravo, with offices in Chicago and San Francisco, is a private…
On December 15, 2022, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a lengthy Notice of Proposed Rulemaking to implement beneficial ownership information (“BOI”) access and safeguards provision of the Corporate Transparency Act (“CTA”) (the “Access NPRM”). The Access NPRM provides a framework by which authorized recipients may access BOI, providing different tiers of access for agencies and financial institutions who may seek this information in connection with anti-money laundering efforts.
As 2022 draws to a close, it is important to keep in mind that key state-level regulations on consumer and employee data privacy will become effective as soon as 2023 begins. Data security measures, personal data processing activities and privacy policies of businesses covered by the regulations are now proscribed specific standards and requirements in…
Sentinel Capital Partners has announced the closing of two new funds with a combined $5.2 billion.
The firm closed Sentinel Capital Partners VII at $4.3 billion and Sentinel Junior Capital II at $835 million.
Sentinel Capital Partners, based in New York, is focused on the lower end of the middle market. Founded in 1995, the firm pursues…
MBF Healthcare Partners II (MBF) has announced it has completed the acquisition of Austin Connect to Wellness d/b/a ABA Connect.
ABA Connect is a Texas-based provider of applied behavior analysis therapy to children and adolescents with autism spectrum disorder. Founded in 2013, the organization has six facilities across the Austin and Houston markets.
MBF,…
BV Investment Partners has announced it has invested in Imagenet.
Imagenet, founded in 2000 and based in Kent, Wash., is a provider of back-office support technology and tech-enabled outsourced services to U.S. healthcare plans.
BV, based in Boston, is a middle market private equity firm focused on the tech-enabled business services, software and…
On Nov. 21, 2022, the Federal Communications Commission issued a declaratory ruling and order finding that “ringless voicemails” to wireless phones are “calls” made using an artificial or prerecorded voice. Such calls, therefore, are subject to the Telephone Consumer Protection Act and callers must obtain consent before delivering such messages.
Read on to learn about…
On Monday November 28, 2022, the U.S. Supreme Court heard oral arguments on Ciminelli v. United States. The Court will decide whether the “right-to-control” theory of fraud used by the Second Circuit is a valid basis for property fraud liability under the federal wire fraud statute. Courts and prosecutors have used the right-to-control theory to punish schemes which intend to deprive a victim of valuable information regarding an economic decision. Among other things, the ruling has implications for the expanding scope of federal fraud statutes as applied to undisclosed self-dealing and conflicts of interest. In oral arguments, the Court’s candid disapproval of the right-to-control theory sent a strong signal that this avenue under federal criminal laws for prosecuting “informational deprivation” in dealings may be about to close.
Notable litigation for October includes: (1) Kansas Securities Commissioner v. Premier Global Corporation, et al.; (2) Dettmering, et al. v. VBit Technologies Corp., et al.
Many investors take on an operating thesis that, by law, the obligations of investment companies are not the obligations of the investor. They apply this whether their fund has invested in the securities of a limited partnership, a limited liability company or a corporation.
In the first of two episodes, McGuireWoods partner Mark Freedlander joins…
