Notable litigation for October includes: (1) Karvounides, et al. v. Antonas, et al.; (2) Capital Providers of Cambridge Sarano, LLC, et al. v. Robl, et al.; (3) Investors in Friends of Production Capital LLC v. Friends of Production Capital LLC; and (4) Orrico, et al. v. ABC Capital Investments, LLC.
Up-and-Coming Women in PE to Know: Pavithra Mahesh
McGuireWoods has long been an avid supporter of the advancement of professional women. As part of our initiative seeking to expand the leadership of women in private equity, we are continuing our series of profiling women leaders in private equity. We are hopeful that this series will serve to inspire other women to pursue their…
Ridgemont Closes $2.35 Billion Equity Fund
Ridgemont Equity Partners has announced the closing of its latest fund, Ridgemont Equity Partners IV, with $2.35 billion.
The fund exceeded its initial target of $2.0 billion.
Ridgemont Equity Partners, based in Charlotte, N.C., is focused on investing in middle market companies to secure majority ownership or be the lead minority investor. Founded in…
Healthcare & Life Sciences Private Equity Deal Tracker: Lee Equity Acquired Bradford Health From Centre Partners
Lee Equity Partners has announced it has acquired a majority ownership interest in Bradford Health Services from Centre Partners and other investors.
Bradford Health, based in Birmingham, Ala., is a substance use disorder treatment provider in the Southeast. Founded in 1977, the company operates a coordinated network of 40 facilities.
Lee Equity is a New…
Healthcare & Life Sciences Private Equity Deal Tracker: RoundTable Sells Symmetry Surgical
RoundTable Healthcare Partners has announced it has completed the sale of Symmetry Surgical to Aspen Surgical Products.
Symmetry Surgical, based in Antioch, Tenn., is a marketer of reusable, reposable and single-use surgical instrumentation and specialty devices. Founded in 2012, the company’s brands include Bookwalter, Bovie, Greenberg, Reddick and The O.R. Company.
RoundTable, based in Lake…
Healthcare & Life Sciences Private Equity Deal Tracker: New Mountain Invests in ClaimLogiq
New Mountain Capital has announced an investment in ClaimLogiq.
ClaimLogiq, founded in 2013 and based in Mount Pleasant, S.C., is the developer of TrueCost, a payer-facing, claim-analyzing solution.
New Mountain, based in New York, is a growth-oriented investment firm. Founded in 1999, the firm manages private equity, credit and net lease real estate…
Healthcare & Life Sciences Private Equity Deal Tracker: Signet Invests in LAXAI
Signet Healthcare Partners has completed a growth capital investment in LAXAI, according to a news release.
LAXAI, with U.S. offices in Massachusetts and California, is an integrated contract research, development and manufacturing organization. Founded in 2007, the company’s solutions include drug discovery, chemical process research and development and manufacturing for pharmaceutical, biotech and specialty…
New Complaint – Securities and Exchange Commission v. Lam, et al.
Securities and Exchange Commission v. Lam, et al. was filed in the United States District Court for the Central District of California on September 22, 2022, claiming Defendants Brian Lam (“Lam”), Nathan Nguyen (“Nguyen”), NineSquare Capital Partners LLC (“NineSquare Capital”), and Nguyen Group LLC (“NGL”) (collectively, “Defendants”) violated several provisions of the Securities Act and Securities Exchange Act. Specifically, the SEC seeks permanent injunctive relief against all Defendants to prevent future violations of the federal securities laws, permanent injunctions prohibiting Defendants Lam and Nguyen from participating in an unregistered securities offering, disgorgement with prejudgment interest from Defendants and Relief Defendants Yi Ping Lu and Thy Stacy Nguyen (the “Relief Defendants”), and civil penalties against Defendants.
The SEC filed this action against Defendants for operating an offering fraud that targeted the Vietnamese-American community, which raised $11.7 million from 73 investors nationwide from March 2020 to January 2022. Defendant Lam orchestrated the fraud through his company NineSquare, a Delaware limited partnership which purported to be a hedge fund. Defendant Nguyen is the principal of NGL, a company that helped solicit investors in NineSquare. The two Relief Defendants, Yi Ping Lu, Lam’s wife, and Thy Stacy Nguyen, Nguyen’s wife, purportedly used proceeds from the fraud to pay for luxury homes purchased in their names.
Healthcare & Life Sciences Private Equity Deal Tracker: Bain Capital Invests in CitiusTech
Bain Capital Private Equity has invested in CitiusTech, according to a news release.
CitiusTech, based in Princeton, N.J., is a provider of digital technology and consulting services to payer, provider, medical technology and life sciences companies. Founded in 2005, the company’s key focus areas include healthcare interoperability, data management, quality and performance analytics, value-based…
Healthcare & Life Sciences Private Equity Deal Tracker: Cimarron and Tacoma Recap Frontpoint Health
Cimarron Healthcare Capital and Tacoma Holdings have announced the recapitalization of Frontpoint Health.
Frontpoint is a home health and hospice platform focused primarily on servicing Medicare Advantage patients in the Texas market.
Cimarron, based in Salt Lake City, is a healthcare-focused private equity firm targeting investments in the lower middle market. Founded in 2015, the firm typically invests…