Article Index Spring 2013
D ebe vo ise & Pl imp t o nPr i vate Equi t y Rep ort
Spring 2013 | Volume 13, Number 3Title Author(s) Page
Tender Offers Poised to Become an Acquisition Structure of Choice for Private Equity Buyers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Bab 1
Dividend Recaps: Used With Care, a Useful Tool . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M . Natasha Labovitz 3
U.S. Tax Considerations Relating to Leveraged Recaps . . . . . . . . . . . . . . . . . . . David H . Schnabel 4
ILPA Ten Years On: Our Focus in 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mike Elio 5(Guest Column) Managing Director, Industry Affairs
ILPA
Delaware Court Decision Could Reduce Litigation Exposure in Going Private Transactions . . . . . . . . . . . . . . . . . . . . . . Gregory V . Gooding 7 William D . Regner
The IRS Has Been Busy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 8 Vadim Mahmoudov
Social Twist: Emerging ESG Policies Could Present More Opportunities Than Challenges for Private Equity . . . . . . . . . . . . . . . . . . Erica Berthou 9 Peter M . Vaglio
How Will the AIFMD Impact Non-E.U. Fund Managers? Answers to Frequently Asked Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sally Gibson 11 Michael P . Harrell
Club Deal Class Action Survives Summary Judgment . . . . . . . . . . . . . . . . . . . . Gary W . Kubek 13
New Banking Guidance May Impact Leveraged Lending . . . . . . . . . . . . . . . . . David A . Brittenham 15(Alert) Satish M . Kini
Christopher Rosekrans
UK Take Privates: Recent Changes to the Takeover Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David Innes 17 Geoffrey P . Burgess
Guy Lewin-Smith
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Winter 2013 | Volume 13, Number 2Title Author(s) Page
When the SEC Knocks on Your Door, Will You Be Prepared?: Practical Steps PE Firms Should Take to Prepare for an SEC “Presence” Examination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 1 Robert B . Kaplan
Michael P . Harrell Jonathan R . Tuttle
The Year of the Snake: What Does China’s Lunar New Year Suggest for Private Equity Activity in Asia? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E . Drew Dutton 3 Brian McKenna
Pension Derisking: New Ways to Manage Old Pension Liabilities . . . . . . . . . . Sarah A . W . Fitts 5 Alicia C . McCarthy
Time for Private Equity to Relax About ERISA-Controlled Group Liability? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 7 Agatha Kluk
Alicia C . McCarthy
First Year Review of the UK Takeover Code in Action . . . . . . . . . . . . . . . . . . . . David Innes 10(Alert)
Tax Reporting Gone Wild: Getting Ready for the New FATCA Rules . . . . . . . . Peter F . G . Schuur 11 Adele M . Karig
Matthew D . Saronson
Offshore Private Equity Funds and Chinese Insurers: Coming Soon? . . . . . . . Andrew Ostrognai 13(Alert) Shubing Yuan
Serena Kuang Tan Lawrence Zhang
Strategic Thinking: Special Considerations for Private Equity Sponsors Contemplating Add-on Acquisitions . . . . . . . . . . . . . . Kevin M . Schmidt 14
Michael Schaper
New Opportunities for Private Equity to Help Financial Institutions Address Basel III Capital Requirements? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Eric R . Dinallo 16 Ethan T . James
Samuel E . Proctor
Summer/Fall 2012 | Volume 13, Number 1Title Author(s) Page
Imitation Is the Sincerest Form of Flattery: Continued Use of Private Equity Technology in Acquistions by Strategic Buyers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kevin A . Rinker 1 Uri Herzberg
Impact of Health Care Reform on Employers: Two Years In . . . . . . . . . . . . . . . Jonathan F . Lewis 3 Meir D . Katz
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 3
Navigating New Waters: The Evolution of Private Equity Investment in China . . . . . . . . . . . . . . . . . . . . Michael A . Diz 5 Chen Bao
Chinese Private Equity Opens Up to Chinese Insurers . . . . . . . . . . . . . . . . . . . . Andrew Ostrognai 7 Serena Kuang Tan
Shubing Yuan
Washington Update: Politics, Policy and Private Equity . . . . . . . . . . . . . . . . . . Steve Judge 9(Guest Column) President and CEO
Private Equity Growth Capital Council
The Fifty Shades of Co-Investing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 11 Andrew C . Rearick
David P . Iozzi
Something New: The Partial Section 338(h)(10) Election . . . . . . . . . . . . . . . . . David H . Schnabel 13 Erin Cleary
Employee Equity Repurchases Draw SEC Scrutiny . . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 15
New UK Takeover Code Consultation: Key Points for Private Equity Bidders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Guy Lewin-Smith 17(Alert) Katherine Elizabeth Murray
Non-EU Hedge and PE Firms Would Be Banned From Marketing to German Investors Under Proposed Legislation . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 18(Alert) Sally Gibson
New IRS Rules Make Taxable COD Income More Likely in Debt Modifications and Restructurings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Burt Rosen 19(Alert) David H . Schnabel
Robert J . Staffaroni
Spring 2012 | Volume 12, Number 3Title Author(s) Page
Olympic Update: The U.S. and the UK Battle for the Gold on Choice of Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David Innes 1 Stephen R . Hertz
The Liquidity Crunch (This Year’s Model): Recent Delaware Cases Involving Controlling Stockholders . . . . . . . . . . . . . . . Gregory V . Gooding 3
Springtime: The Return of “Covenant-Lite” Financings . . . . . . . . . . . . . . . . . . Pierre Maugüé 5
Market Dislocation: Developments in the European High Yield Market . . . . . . . . . . . . . . . . . . . . . . Alan J . Davies 7 Nathan Parker
Wading in the Waters: Conducting IPO Pricing Discovery After the “JOBS” Act . . . . . . . . . . . . . . . . . Matthew E . Kaplan 9
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More European Distress: Germany Increases Flexibility for Distressed Investing and Empowers Creditors . . . . . . . . . . . . . . . . . . . . . . . . Thomas Schürrle 11 M . Natasha Labovitz
Peter Wand
Compliance Date for Placement Agent Prohibition in Pay-to-Play Rule Delayed Again . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 13(Alert) Michael P . Harrell
Marcia L . MacHarg Gregory T . Larkin
Sponsors Beware: “Trades or Businesses” and Joint and Several Exposure for Unfunded Pension Liabilities Under ERISA . . . . . . . . . . . . . . . . . . . . . . . . . Lawrence K . Cagney 15 Agatha Kluk
Yes, Virginia, You Really Can Waive Fraud Claims . . . . . . . . . . . . . . . . . . . . . . Gregory V . Gooding 17 Jeremy R . Delman
Winter 2012 | Volume 12, Number 2Title Author(s) Page
You Have the Financials, Right? Some Challenges in Financing “Carve-Out” Acquisitions . . . . . . . . . . . . . . . . . Jeffrey E . Ross 1 Scott B . Selinger
When Size Does Matter: The SEC’s New Rules on Large Trader Registration May Snare Private Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kevin A . Rinker 3 Gary E . Murphy
Registration Rights in High Yield Debt Offerings: A Market Survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David A . Brittenham 5 Christine M . O’Reilly
Congress Actually Passing Bipartisan Legislation: JOBS Act to Facilitate Access to Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Matthew E . Kaplan 7(Alert)
Dealmaking in the UK Has Gotten Tougher: Impact of Takeover Code Reform . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David Innes 9 Kenneth Barry
More on the UK Takeover Code: Increased Debt Financing Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Alan J . Davies 9 Thomas Smith
Portfolio Valuation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jesse Reyes 11(Guest Column) Co-Founder of QuartileOne
Brick by Brick: A Primer for Due Diligence in the BRICs, Finishing off with Russia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Alyona N . Kucher 13 Natalia A . Drebezgina
Evgeniya A . Berezkina
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 5
Another Filing Obligation for Private Equity: Time to Focus on Form PF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 15(Update) Gregory T . Larkin
Jaime Doninger Schechter
What’s Ahead in the Year of the Dragon? More Regulation of the Overheated Fundraising Market in China . . . . . . . . . . Andrew M . Ostrognai 17 Shubing Yuan
Serena Kuang Tan
UK/EU Developments: More Disclosure, More Regulation and a Potentially Shrinking Pool of Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . Anthony McWhirter 19(Alert) Philip James Orange
Fall 2011 | Volume 12, Number 1Title Author(s) Page
Del Monte: Staple Remover? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeffrey E . Ross 1 Jonathan E . Levitsky
Scott B . Selinger
Covering the Capital Structure: The Seller Note . . . . . . . . . . . . . . . . . . . . . . . . . Paul D . Brusiloff 3 Franci J . Blassberg
Gary M . Friedman
Trends in Private Equity in Africa: Increased Commitments and Integration of (ESG) Factors in 2012 . . . . . . . . . Graham Sinclair 5(Guest Column) Principle of SinCo and President of
Africa Sustainable Investment Forum
Brick by Brick: A Primer for Due Diligence in Each BRIC Country, Continuing with Brazil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Maurizio Levi-Minzi 7 Paul M . Rodel
What Are the Options? Bank Investment in Unaffiliated Private Equity and Hedge Funds Under the Volcker Rule . . . . . . . . . . . . . . . . . Michael P . Harrell 9 Satish M . Kini
Rebecca F . Silberstein Gregory J . Lyons David A . Luigs Gregory T . Larkin
Buyer Beware (Delaware Law Edition): Sometimes “Substantially All” Isn’t All That Much . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 11 Kamal Agrawal
Discount Shopping: Mak ing the Most Out of Distressed Asset Sales . . . . . . . . . . . . . . . . . . . . . . . . . My Chi To 13 M . Natasha Labovitz
Jessica Katz
Buyer Beware (Employee Edition): Employee Benefit Covenants Could Have UnintendedConsequences on ERISA Plans . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 15 Charles E . Wachsstock
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Summer 2011 | Volume 11, Number 4Title Author(s) Page
The IPO Exit: “Recent” Market Trends in IPOs of Sponsor Portfolio Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 1 Stephen R . Hertz
David P . Iozzi Salim Sader
Investing in China: New Risks? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Edward Drew Dutton 3 Niping Wu
Rehoboth Beach Reading: Catching Up on Delaware Cases . . . . . . . . . . . . . . . William D . Regner 6 Dmitriy A . Tartakovskiy
Is Russia Ready for Serious Attention from Private Equity Investors? . . . . . . . Alexander Pankov 7(Guest Column) Kirill Samsonov
Co-founders, Russian Private Equity Initiative
Doing Business in the UK Under the Newly-Enacted Bribery Act . . . . . . . . . . . David Innes 9 Karolos Seeger
Matthew Howard Getz
Boosting EBITDA: The Cost Savings Add-Back . . . . . . . . . . . . . . . . . . . . . . . . . . Pierre Maugüé 11
Brick by Brick: A Primer for Due Diligence in Each BRIC Country, Continuing with India . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey P . Burgess 13 Maurizio Levi-Minzi
Brazilian Private Equity Funds: Current Developments . . . . . . . . . . . . . . . . . . . Erica Berthou 15 Jennifer J . Burleigh
Peter A . Furci
FTC Implements Revisions to the HSR Form . . . . . . . . . . . . . . . . . . . . . . . . . . . Kyra K . Bromley 17(Alert) Gary W . Kubek
New Proposal to Tax Carried Interest as Ordinary Income . . . . . . . . . . . . . . . . Adele M . Karig 19(Update) Vadim Mahmoudov
David H . Schnabel Peter F . G . Schuur
Spring 2011 | Volume 11, Number 3Title Author(s) Page
Speed Is King: Pointers and Pitfalls on Sponsor-Led Tender Offers . . . . . . . . . Jonathan E . Levitsky 1 Paul D . Brusiloff
Proposed SEC Rules Could Limit Incentive Compensation Paid by Private Equity Firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 3 Jonathan F . Lewis
Elizabeth Pagel Serebransky Charity Brunson Wyatt
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 7
The Secret History of Private Equity Performance . . . . . . . . . . . . . . . . . . . . . . . David Snow 5(Guest Column) Founder, Privcap
Brick by Brick: A Primer for Due Diligence in Each BRIC, Beginning with China . . . . . . . . . Maurizio Levi-Minzi 7 Edward Drew Dutton
Niping Wu
Bank Participation in Private Equity and Hedge Funds: Charting the Volcker Rules’ Murky Waters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 9 Satish M . Kini
David A . Luigs Gregory T . Larkin
Can “Top Hat” Employees Find Gold in a Successor’s Pockets? . . . . . . . . . . . . Lawrence K . Cagney 11 Agatha Kluk
Private Equity, Meet the FCPA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No byline 13(Alert)
Contingent Value Rights for Private Equity-Backed Healthcare M&A . . . . . . . Andrew L . Bab 15
Raising Capital from LPs in the Middle East: Caught in a Web of Regulatory Complexity . . . . . . . . . . . . . . . . . . . . . . . . . . . . Erica Berthou 17 Jonathan Adler
Anne-Lise Quach
500 and Counting: Proposed Law Would Make It Easier to Stay Private . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 19 Matthew E . Kaplan
Winter 2011 | Volume 11, Number 2Title Author(s) Page
New ILPA Principles: What Has Changed? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 1 Gavin Anderson
Exposure to Pension Liabilities May Be Expanding . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 3 Alicia C . McCarthy
Greener Returns Are on the Horizon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Audrey Davenport 5(Guest Column) Thomas P . Murray
Environmental Defense Fund
No Fear of Commitment: Equity Commitment Letters in UK Transactions . . . . . . . . . . . . . . . . . . . . . . . . David Innes 7
Exclusivity from the Seller’s Perspective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Margaret Andrews Davenport 9 Michael A . Diz
The 2010 Estate and Gift Tax Law: A “Gift” for Private Equity Estate Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Cristine M . Sapers 11
Helping Private Equity Play a Greater Role in the U.S. Insurance Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Eric R . Dinallo 13
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English High Court Upholds Sponsors’ Right to Buy and Vote Portfolio Company Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Katherine Ashton 15(Alert) Alan J . Davies
Julia Keppe
Doing Business with Sovereign Wealth Funds: SEC Launches Foreign Bribery Probe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul R . Berger 17 Sean Hecker
The Return of Sponsor-Backed IPOs: Getting the House in Order . . . . . . . . . . Matthew E . Kaplan 19 Steven J . Slutzky
Russia’s Massive New Privatization Plan May Create Opportunities for Private Equity Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Alyona N . Kucher 21 Ekaterina A . Raykevich
Fall 2010 | Volume 11, Number 1Title Author(s) Page
Is Dual Track the New Normal? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul S . Bird 1 Jonathan E . Levitsky Sue Meng
Learning to Live with Regulatory Uncertainty: Recent Foreign Public Exits from PRC Investments . . . . . . . . . . . . . . . . . . . . . . Edward Drew Dutton 3 Haifeng Peng
Active Private Equity Fund Management in the Context of Asset Allocation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Daniel Feder, CFA 5(Guest Column) Advisor, Heritage Fund at Sequoia Capital
EU Directive on Alternative Investment Fund Managers: Good News at Last . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 7 Anthony McWhirter Philip Orange
Monetizing the Shield: Tax Receivable Agreements in Private Equity Deals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeffrey J . Rosen 9 Peter A . Furci
Reform of the UK Takeover Code: The End of the Affair? . . . . . . . . . . . . . . . . Guy Lewin Smith 11 Edwin James Northover
FTC Considers Changes to the HSR Form Impacting PE Sponsors . . . . . . . . . Gary W . Kubek 13(Alert) Kyra K . Bromley
Terra Firma v. Citibank: A Cautionary Tale? . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mark P . Goodman 15 Erica Weisgerber
Proposed Exemptions from SEC Registration Available to Non-U.S. Advisers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 17(Alert)
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 9
Summer 2010 | Volume 10, Number 4Title Author(s) Page
The Terms They Are a-Changin’—Or Are They? . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 1(Trendwatch) Daniel Z . Sinrod
A Discussion with John F. Lehman . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No byline 3(Guest Column)
Commitments After the Credit Crunch: Have Terms Changed? . . . . . . . . . . . . Jeffrey E . Ross 5 Scott B . Selinger
Investment Adviser Registration: Preparing for the New Environment . . . . . . . Kenneth J . Berman 7 Gregory T . Larkin
More Process and Disclosure, But Little Change, in Executive Compensation Practices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lawrence K . Cagney 9(Alert)
Consider This Before Renewing Your D&O and General Partner Liability Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeffrey S . Jacobson 11 Keith J . Slattery
Claire Graham
UK Bribery Act Requires Prompt Action by Global Private Equity Firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey P . Burgess 13 Tom Epps
Amanda D . Zakowich
EU Directive on Alternative Investment Fund Managers: Are the Trialogues Multiplying? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 15(Update) Anthony McWhirter
Philip Orange
Placement Agents and In-House Fundraisers Must Register as Lobbyists in California . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 16(Alert) Kenneth J . Berman
Ellen Lieberman Jamie E . Doninger
Spring 2010 | Volume 10, Number 3Title Author(s) Page
Allocating Financing Risk: Recent Trends in Sponsor-Led Public Company LBOs . . . . . . . . . . . . . . . . . . . . Kevin A . Rinker 1 Michael A .Diz
Luke T . Sternberg
From Long Shot to Likely in Six Months: Coming to Grips with the Volcker Rule and Its Private Equity/Hedge Fund Implications . . . . . . . . . . Jennifer J . Burleigh 3 Gregory J . Lyons
The Word from Brussels: Confusion or Good Policy? . . . . . . . . . . . . . . . . . . . . Thomas C . Franco 5(Guest Column) Partner, Clayton, Dublilier & Rice, Inc.
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EU Directive on Alternative Investment Fund Managers: Are the Trialogues Almost Over? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 7(Update) Anthony McWhirter
Coming to Brazil: The World Cup, the Olympics and More Private Equity . . . . . . . . . . . . . . . . . . Erica Berthou 9 Peter F . G . Schuur
Jonathan Adler Michael Bolotin
Is the UK Takeover Panel Planning Major Takeover Reform? . . . . . . . . . . . . . . Guy Lewin-Smith 11(Alert) Ed Northover
Not California Dreamin’: The Golden State’s Proposed Placement Agent Rules . . . . . . . . . . . . . . . . . . . . . Jordan C . Murray 13 Oladipo Ashiru
Private Equity Is Going Bespoke . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Erica Berthou 15 Richard D . Robinson, Jr .
Disclose or Else: The New FATCA Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 17 Matthew D . Saronson
Burt Rosen Robert J . Staffaroni John Forbes Anderson
Winter 2010 | Volume 10, Number 2Title Author(s) Page
AHYDO Savers: Not Life Savers After All for PIK Toggle Issuers? . . . . . . . . . . Gary M . Friedman 1
Mission Possible: PE Investments in the Defense Industry . . . . . . . . . . . . . . . . Andrew L . Bab 3
Thinking About an IPO? The Road to Market Is Paved with New Disclosure Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Matthew E . Kaplan 5
How Green Is Your Portfolio?—Update II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey P . Burgess 7(Update) Russell D . King
EU Alternative Investment Fund Managers Directive: A Tale of Two (or Three) Proposals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Anthony McWhirter 9 Philip James Orange
Bridging the Gap—Implied Obligations in Earnout Contracts . . . . . . . . . . . . . Stephen R . Hertz 11(Update) Dmitriy A . Tartakovskiy
Leonora R . Gogolak
Climate Change Issues Are Turning Up the Heat on Businesses in the U.S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stuart Hammer 13(Update) Lauren Boccardi
New UK Tax Hurdles for Debt Buy Backs and Leverage . . . . . . . . . . . . . . . . . . Richard Ward 15 Lawrence Harrison
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 11
Fall 2009 | Volume 10, Number 1Title Author(s) Page
The End of Pay to Play? The Proposed SEC Rule Banning Certain Political Contributions . . . . . . . . . . Kenneth J . Berman 1 Gregory T . Larkin
To Change or Not to Change: Should Sponsors Modify Management Equity Due to the Economic Downturn? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 3
State of the Private Equity Secondary Market . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael J . Pugatch 5(Guest Column) HarbourVest Partners, LLP
“Blind Pools”—Another Vision of Investing in Failed Banks . . . . . . . . . . . . . . Satish M . Kini 7 Gregory J . Lyons
Mind the (Funding) Gap: Trouble Ahead for Multiemployer Plans . . . . . . . . . Jonathan F . Lewis 9 Alicia C . McCarthy
Dealing With Mr. Big: Recent Developments in Transactions Involving Controlling Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . William D . Regner 11 Dmitriy A . Tartakovskiy
How Green Is Your Portfolio? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey P . Burgess 13(Update) Russell D . King
Caution Ahead: Rules of the Road for Buying Assets from Distressed Companies . . . . . . . . . . . Jasmine Powers 15 Derek Alexander
What Really Changed? The Market Impact of the 2008 Changes to Rule 144 . . . . . . . . . . . . . . . . . . . . Peter J . Loughran 17(Alert) Paul M . Rodel
Developments in EU Antitrust Laws—Private Equity Funds May Be Liable for Violations of Portfolio Companies . . . . . . . . . . . . . . . . . . . . Dr . Thomas Schürrle 19(Alert) Daniel Wiedmann
Summer 2009 | Volume 9, Number 4Title Author(s) Page
Reluctant Matchmaker: The FDIC’s Policy on Failed Bank Acquisitions— Friendly Enough for Private Equity? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Satish M . Kini 1 Paul L . Lee
Gregory J . Lyons
Rewinding the Clock: The Impact of Changes to GAAP on Leveraged Loan Covenants . . . . . . . . . . . Pierre Maugüé 3
How Green Is Your Portfolio? Implications of the UK Carbon Reduction Commitment for Private Equity . . . . . . . . . . . . . . . . . . Geoffrey P . Burgess 5 Russell D . King
page 12 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Shelter from the Storm: A Discussion with Calvin Reno of Arthur J. Gallagher & Co. About Management Liability Insurance . . . . . . . No byline 7(Guest Column)
Unlocking the Purchase Price Adjustment Puzzle . . . . . . . . . . . . . . . . . . . . . . . . Jeffrey J . Rosen 9 Michael A . Diz
Convergence, Part 2: Have Strategic Buyers Begun to Replicate PE-Style Management Equity Arrangements? . . . . . . . . . . . . . . . . Stephen R . Hertz 11 Jonathan F . Lewis
Charles E . Wachsstock
Recent Developments in the English Restructuring Market May Leave Mezzanine Lenders Out in the Cold . . . . . . . . . . . . . . . . . . . . . . . . . Katherine A . Ashton 13 Katherine Baker
Whipsaw Claims and Wage and Hour Suits: Potentially Expensive Employment Liabilities to Watch for in Litigation Diligence . . . . . . . . . . . . . . Mark P . Goodman 15 Jennifer E . Spain
Good News for Selling Shareholders Worried About Fraudulent Conveyance Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard F . Hahn 17 Steven S . Michaels
Institutional Limited Partners Association Releases Private Equity Principles Report Listing Private Equity Preferred Terms . . . . . Michael P . Harrell 32
Spring 2009 | Volume 9, Number 3Title Author(s) Page
Something Old, New, Borrowed, and Blue: Have Strategics Borrowed Conditionality from the Private Equity World? . . . . . . . . . . . . . . . . . Kevin A . Rinker 1 Shelby E . Parnes
What U.S. Regulatory Reform Could Mean for Private Equity . . . . . . . . . . . . . Kenneth J . Berman 3 Gregory T . Larkin
Fair Value Accounting—Or Foul? The New M&A Accounting Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Donna Coallier 5(Guest Column) Jillian Griffiths
Jason Waldie PricewaterhouseCoopers
Order Restored for Directors’ Decisions in Delaware . . . . . . . . . . . . . . . . . . . . . Andrew L . Bab 7
Just the FAQs: New Government Review of Foreign Investments in Germany . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Peter Wand 9 Daniel Wiedmann
Loan-to-Own Transactions: Considerations in Evaluating Distressed Real Estate Debt Instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard F . Hahn 11 Peter J . Irwin
Nicole Levin Mesard Maureen A . Cronin
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 13
What You Need to Know About the Proposed EU Directive on Alternative Investment Fund Managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 13 Anthony McWhirter
Philipp von Holst Ina Maria von Raven
Tax, Tax, Tax: The Not-so-Bad, the Bad and the Ugly . . . . . . . . . . . . . . . . . . . . Gary M . Friedman 15 Matthew D . Saronson
David H . Schnabel
Winter 2009 | Volume 9, Number 2Title Author(s) Page
Everything Old Is New Again: PIPEs Go Up-Market . . . . . . . . . . . . . . . . . . . . . Gregory V . Gooding 1 Jeremy Rossman
A Discussion with Barry Gold of the Carlyle Group About Infrastructure Financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No byline 3(Guest Column)
Limited Partner Defaults: The Improbable Becomes Reality . . . . . . . . . . . . . . . Sherri G . Caplan 5
Stimulus Legislation Provides Some Good News for Portfolio Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gary M . Friedman 7 Vadim Mahmoudov
David H . Schnabel Peter F . G . Schuur
Deconstructing Equal and Ratable Security Clauses . . . . . . . . . . . . . . . . . . . . . Gregory H . Woods III 9
Emerging Markets Shine in a Difficult Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 11 Gerrard C . Saviola
Disruptions in the LIBOR Market: Borrowers Beware When the Boilerplate Is Broken . . . . . . . . . . . . . . . . . . . . . . A . David Reynolds 13
Bridging the Gap: How to Get Deals Done in an Unsettled Market . . . . . . . . . Kevin A . Rinker 15 Meir D . Katz
SEC Weighs in on Approval of Stock Mergers by Written Consent . . . . . . . . . . William D . Regner 17
ADS v. Blackstone: Strine Endorses Private Equity Cabins . . . . . . . . . . . . . . . . Michael D . Devins 19
Final Exon-Florio Regulations: What They Mean for Private Equity . . . . . . . . Jeffrey P . Cunard 21 Robert F . Quaintance, Jr .
Duties of Directors of Distressed Companies: Avoiding an Intrinsic Fairness Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard F . Hahn 23 Jasmine Powers
Jessica Katz
Debt Exchange Offerings: A Flash in the Pan? . . . . . . . . . . . . . . . . . . . . . . . . . . Peter B . Alderman 27
page 14 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Fall 2008 | Volume 9, Number 1Title Author(s) Page
Strange Bedfellows: Private Equity and Strategic Alliances . . . . . . . . . . . . . . . . Franci J . Blassberg 1 Michael W . Blair
One (Small) Step for PE Firms: Fed Loosens Restrictions on Minority Banking Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gregory V . Gooding 3 Paul L . Lee
Buyer Beware: Purchasing Stock of a Consolidated Group Member Recognizing a Tax Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 4 Peter F . G . Schuur
Michael Bolotin
Cautious Optimism Amid the Turmoil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mark O’Hare 5(Guest Column) Managing Director, Preqin
More Deferred Compensation Legislation—Will It Ever End? . . . . . . . . . . . . . Peter A . Furci 7 Jonathan F . Lewis
David H . Schnabel Charles E . Wachsstock
Sovereign Wealth Funds: The Santiago Principles . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Sommer 9 Liam F . Timoney
Electronic Filing (and Tracking) Comes to Reg D Private Placements . . . . . . . Ellen V . Lieberman 10
Are New Private Equity and Hedge Fund Regulations on the Horizon in the EU? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . E . Drew Dutton 11 Gabriel Weiss
How Bad Is “Bad Faith?”—New Delaware Perspectives . . . . . . . . . . . . . . . . . . Andrew L . Bab 13
Recent Legal Developments in Germany . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thomas Schürrle 15 Peter Wand
Avoiding FCPA Anxiety: A Roadmap to M&A Due Diligence and Post-Acquisition FCPA Compliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Peter R . Berger 17 Christopher J . Cestaro
Erin W . Sheehy
Best Planning for the Worst: Assuring Insurance Coverage for Private Equity Sponsors and Portfolio Company Directors in Bankruptcy . . . . . . . . . . . . . . . . . . . . . . . . . . . Heidi A . Lawson 19
The Good, the Bad and the Ugly: Hexion v. Huntsman . . . . . . . . . . . . . . . . . . . Paul S . Bird 21 William D . Regner
Duties of Directors of Distressed Companies— An Update and Refresher . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard F . Hahn 32(Alert) Hilary Sokolowski
Jasmine Powers
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 15
Summer 2008 | Volume 8, Number 4Title Author(s) Page
How to Talk About Research You Haven’t Read: An Abridged Guide to Recent Private Equity Research . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 1 E . Drew Dutton
D&O Liability: Portfolio Company Directors and Officers May Need Separate Indemnification Agreements . . . . . . . . . . . . . . . . . . . . . . . . Robert F . Quaintance, Jr . 3(Alert) Daniel M . Abuhoff
Germany Adopts New Rules Targeting Financial Investors . . . . . . . . . . . . . . . . Peter Wand 5
Private Equity Developments in Germany: Higher Taxation of Carried Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friedrich E . F . Hey 6 Lutz M . Boxberger
Go-Shops vs. No-Shops in Private Equity Deals: Evidence and Implications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Professor Guhan Subramanian 7(Guest Column) Joseph Flom Professor of Law and
Business, Harvard Law School; Douglas Weaver Professor of Business Law, Harvard Business School
Private Equity in Russia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S . Raymond Tillett 9
Finally, Some Good News for Private Fund Placement Agents . . . . . . . . . . . . . . Kenneth J . Berman 11
Conditions to Regulatory Approvals: Lessons from ADS . . . . . . . . . . . . . . . . . . Michael D . Devins 13
London Market Association Weighs in on Debt Buy-Backs . . . . . . . . . . . . . . . . Katherine Ashton 15(Alert) Jason Wilkenson
Tax in a Down Market: A New Market for M&A Brings Some New Tax Issues . . . . . . . . . . . . . . . . . . . . David H . Schnabel 16
Avoiding Becoming an Inadvertent Public Company: SEC Grants Relief for Private Company Options . . . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 17 Elizabeth Pagel Serebransky
Spring 2008 | Volume 8, Number 3Title Author(s) Page
Cracking the Crunch: Leveraging a Target’s Existing Debt to Finance a Buy-Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gregory H . Woods III 1 David W . Wicklund
Going-Private Deal Terms: Allocating Risk in Today’s Troubled Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kevin M . Schmidt 3(Alert)
Climate Change Issues Are Turning Up the Heat on Businesses in the U.S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stuart Hammer 5
page 16 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Green Gold Rush or Green Bubble? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sarah A . W . Fitts 7 Maurizio Levi-Minzi
Megan M . MacDonald
To Tax or Not to Tax: Developments in the UK Regarding Taxation of Foreign Sourced Carried Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard Ward 9
Deferred Compensation Plan’s Compliance Window Closing Soon—And This Time the IRS Means It . . . . . . . . . . . . . . . . . . . . . . . . Jonathan F . Lewis 11(Alert) Elizabeth Pagel Serebransky
The Unthinkable—Private Equity Fund Found Liable for Unfunded Pensions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lawrence K . Cagney 13 Alicia C . McCarthy
How the New Exon-Florio Rules Affect Private Equity . . . . . . . . . . . . . . . . . . . Robert F . Quaintance, Jr . 15 Jeffrey P . Cunard
Eva E . Subotnik
Warming up to the Trust Fund Babies: Do SPACs Present Attractive Opportunities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael J . Gillespie 17 Peter J . Loughran
Stefan P . Stauder Paul M . Rodel
Winter 2008 | Volume 8, Number 2Title Author(s) Page
Slip Out the Back or Make a New Plan? A Look at Recently Renegotiated Private Equity Deals . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 1 Stefan P . Stauder
Will the Next Downturn Be That Different? . . . . . . . . . . . . . . . . . . . . . . . . . . . . My Chi To 3
Labor Unions and Private Equity in Germany— The Current State of Play . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prof . Dr . Ann-Kristin Achleitner 5(Guest Column) Scientific Director, Center for
Entrepreneurial and Financial Studies, Technical University of Munich
Are You a Forthright Negotiator? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kevin A . Rinker 7 Michael A . Diz
Reform of the English Financial Assistance Regime . . . . . . . . . . . . . . . . . . . . . . Alan J . Davies 9 James A . Kiernan
Should Your Child Take a Job in Private Equity? . . . . . . . . . . . . . . . . . . . . . . . . No byline 11(Guest Feature)
Euronext Launches New Private Equity Index . . . . . . . . . . . . . . . . . . . . . . . . . . Drew Dutton 13(Alert) Gabriel Weiss
Loosening the Ties: Amendments to Rule 144 and Rule 145 . . . . . . . . . . . . . . . Peter J . Loughran 15 Margaret A . Davenport
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 17
Walker Report Stalls Treasury Regulation of UK Private Equity— But for How Long? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Anthony McWhirter 17 Matthew Griffin
U.S. Supreme Court Significantly Restricts Secondary Actor Liability Under Section 10(b) . . . . . . . . . . . . . . . . . . . . . . . . . . Jonathan R . Tuttle 19(Alert) Ada Fernandez Johnson
Life Insurance “Embedded Value” Transactions Present PE Firms with an Efficient Opportunity to Invest in Life Insurance Cash Flows . . . . . . . Nicholas F . Potter 21
Fall 2007 | Volume 8, Number 1Title Author(s) Page
The London Perspective on Cross-Border Private Equity: An Interview with Lord Peter Goldsmith . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lord Peter Goldsmith 1 Franci J . Blassberg
Acquisition Agreements—After the Credit Crunch: What’s Next? . . . . . . . . . . Paul S . Bird 3 Jonathan E . Levitsky
Mixed Clubbing: Do PE Firms and Strategics Make Good Dance Partners? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kevin M . Schmidt 5 John M . Vasily
The Impact of the New Japanese Securities Law on Fund Sponsors . . . . . . . . . Jordan C . Murray 7 Erica Berthou
What Private Equity Needs to Know About Changes to the U.S.-Canada Tax Treaty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gary M . Friedman 9 Matthew O’Halloran
Where’s the Beef? SEC Critiques First Round of Proxy CD&A Disclosure . . . . . . . . . . . . . . . . . . . Elizabeth Pagel Serebransky 11(Alert) Heidi H . S . Dubois
Risk of Appraisal Proceeding May Not Be So Problematic . . . . . . . . . . . . . . . . Stephen R . Hertz 13(Alert) Michael A . Diz
Is There Good News for Private Equity Investors in France? . . . . . . . . . . . . . . . E . Drew Dutton 15 Eric Bérengier
Material Adverse Change (MAC) Clauses from a UK Perspective . . . . . . . . . . . Peter Hockless 17
Summer 2007 | Volume 7, Number 4Title Author(s) Page
Adding to the Club: Co-Investments by Fund Limited Partners . . . . . . . . . . . . Kevin M . Schmidt 1 Erica Berthou
Chandra J . Mitchell
page 18 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Look Out for Double Indemnity: Director Protections Take a Hit in Delaware . . . . . . . . . . . . . . . . . . . . . . . . . . . Robert F . Quaintance, Jr . 3 V . Mary Abraham
The Human Side of the Deal: Evaluating and Motivating the Senior Management Team to Maximize Returns . . . . . . . . . . . . . . . . . . . . . David Astorino 5(Guest Column) RHR International
Applying Revlon to Private Equity Transactions: Lessons from Recent Delaware Chancery Court Decisions . . . . . . . . . . . . . . . . Andrew L . Bab 7 Steven N . Wayland
Antitrust Class Action Against Private Equity Firms Dismissed . . . . . . . . . . . . Gary W . Kubek 9(Alert)
Section 363 Sales: How to Play the Game . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . My Chi To 11 Jasmine Powers
What’s Old Is New: The Re-emergence of Stub Equity in Going Private Transactions . . . . . . . . . . . Stephen R . Hertz 13 Nilufer Shaikh
Winter/Spring 2007 | Volume 7, Numbers 2 & 3Title Author(s) Page
The Tender Offer Returns: What Does It Mean for Private Equity Buyers? . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Sommer 1 Gregory H . Woods
Taking Private Managers Public: Structuring Issues . . . . . . . . . . . . . . . . . . . . . Katherine Ashton 3 Kenneth J . Berman
Peter A . Furci Michael P . Harrell Jennifer A . Spiegel
Private Equity Firms Discover the Spin-off . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gary M . Friedman 5 David H . Schnabel
Selected Terms of Recent Megafunds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 6(Trendwatch) Andrew M . Ahern
Fund Formation in Emerging Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael J . Gillespie 9 Jennifer J . Burleigh
Private Equity Activity in Korea and India . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thomas M . Britt 11 Mark J . Lee
ERISA and the 25% Exception . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 13(Alert) Alicia C . McCarthy
The Impact of the U.S. Foreign Corrupt Practices Act on Private Equity Deals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul R . Berger 15 Steve Michaels
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 19
SEC Proposal May Limit Ability of Natural Persons to Invest in Certain Private Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer A . Spiegel 17(Alert)
A Sellers’ Deal Market: The View From Europe . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey P . Burgess 19 David F . Hickok
SEC Proposes Antifraud Rule Targeting Private Equity and Hedge Fund Advisers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer A . Spiegel 21(Alert)
The Shopping Spree Continues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 22(Alert) Stefan P . Stauder
Fall 2006 | Volume 7, Number 1Title Author(s) Page
Shop Till You Drop: A Closer Look at Go-Shop Provisions in Going Private Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 1 Stefan P . Stauder
What Borrowers (and Sponsors) Should Know About Second-Lien Financings in Bankruptcy . . . . . . . . . . . . . . . . . . . . . . . . . . My Chi To 3 Maureen A . Cronin
Reverse LBOs Create Wealth for Equity Holders in the Long Run . . . . . . . . . . Josh Lerner 5(Guest Column) Harvard Business School
Sidecars: New Vehicles for Private Equity and Hedge Fund Investment in the Insurance Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Sommer 7 Stephen R . Hertz
Michael D . Devins Serge Mezhburd
Is the German Insurance Market Worth a Look? . . . . . . . . . . . . . . . . . . . . . . . . Thomas Schuerrle 9
Benefits Covenants Can Be Ties That Bind . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Elizabeth Pagel Serebransky 11(Alert)
Investors at the Gate: What to Do if Your Hedge Fund Is on Uncertain Ground . . . . . . . . . . . . . . . . . Jennifer A . Spiegel 13
Hedge Fund Investment Advisers: To Be or Not to Be (Registered)? . . . . . . . . . Kenneth A . Berman 15 Marcia L . MacHarg
Jennifer A . Spiegel
Shari’ah Compliant Private Equity Funds: What Private Equity Managers Need to Know . . . . . . . . . . . . . . . . . . . . . . . . . . Marwan Al-Turki 17 Chézard Ameer
Impact of the New Tax Shelter Rules on Tax-Exempt Entities Investing in Private Equity Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Adele M . Karig 19 David H . Schnabel
page 20 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Spring 2006 | Volume 6, Number 3Title Author(s) Page
KKR Takes the “Private” Out of Private Equity . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 1
Watch Out: The UK Pensions Watchdog Has Teeth and Is Changing the UK Deal Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . James A . Kiernan 3 Joel Wheeler
LPs and the Role of ILPA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mark Wiseman 5(Guest Column) Institutional Limited Partners Association;
Canadian Pension Plan Investment Board
How to Be a Savvy Electronic Data Room Consumer . . . . . . . . . . . . . . . . . . . . Sarah A . W . Fitts 7 Molly F . Stockley
How Much Control Is Too Much for the Department of Justice? . . . . . . . . . . . Molly S . Boast 9 Andrew L . Bab
Gary W . Kubek
Assuring Yourself a Slice of the Insurance Sector . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 11 Thomas E . McGuinness
Ce n’est pas la même chose: Designing Management Incentives in Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard Ward 13 Pierre-Pascal Bruneau
Friedrich Hey David F . Hickok
When You Are Not the “First Call”—Finding the Right Finder . . . . . . . . . . . . Monica K . Arora 15
Close Call in New York: The State Legislature Appears to Have Backed Away From Imposing Unlimited Liability on the Owners of Limited Partnerships and Limited Liability Companies for Failure to Publish . . . . . . . Rebecca F . Silberstein 17 Jason Elfenbein
Andrew M . Ahern
Winter 2006 | Volume 6, Number 2Title Author(s) Page
Clubbing in the U.S. and Internationally . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Sommer 1 James A . Kiernan
Franci J . Blassberg Wendy A . Semel
Secondaries and the Manager for Hire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David J . Schwartz 3(Update) Jason Elfenbein
A Discussion with Nate Thorne . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Nate Thorne 5(Guest Column) Merrill Lynch Global Private Equity
Climate for Private Equity in Brazil Getting Warmer . . . . . . . . . . . . . . . . . . . . Michael J . Gillespie 7 Paul M . Rodel
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 21
Hedge Funds With Control-Style Positions Face Regulatory Scrutiny . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer A . Spiegel 9 Gary W . Kubek
2005 Deal Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 11(Trendwatch) Kyle A . Pasewark
Finding the Easiest and Least Expensive Route to Eliminating Public Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David A . Brittenham 13
Is It “SAFE” Again to Make Private Equity Investments in China? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard Guo 15 Thomas M . Britt III
German Courts Clarify Buyback Rights for Management Shares . . . . . . . . . . . No byline 20(Alert)
Fall 2005 | Volume 6, Number 1Title Author(s) Page
Around the Fund and into the Deal—Co-investing in Europe . . . . . . . . . . . . . Geoffrey P . Burgess 1 Christopher Mullen
Can Directors Relax? The Disney Case, the Business Judgment Rule and the Importance of Process . . . . . . . . . . . . . . . Michael W . Blair 3 David P . Mason
William D . Regner Jeffrey J . Rosen
Private Equity Investing on Both Sides of the Atlantic . . . . . . . . . . . . . . . . . . . . Robert L . Friedman 5(Guest Column) Blackstone Group
Meryl D . Hartzband Stone Point Capital Laura Resnikoff Columbia Business School Woodrow W . Campbell, Jr . Debevoise & Plimpton LLP
Just in Case—Bridge Loan Nuts and Bolts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sung Su Pak 7
Taxpayers May Start Seeking Private IRS Rulings in Certain Private Equity Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew N . Berg 9
Some Garden Variety Deferred Compensation Arrangements Still Work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Beth Pagel Serebransky 11 Christopher Del Rosso
European Commission Concludes Its Investment Fund Framework “Could Be Better” . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 13 Christian Doerre
Private Equity in Emerging Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Holly Nielsen 16(Update)
Asian Buyouts—Why Asia? Why Now? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Thomas M . Britt III 17
page 22 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Summer 2005 | Volume 5, Number 4Title Author(s) Page
Institutional Fund Sponsors’ Consolidation Woes . . . . . . . . . . . . . . . . . . . . . . . Robert J . Cubitto 1
Proposed Carried Interest Tax Rules: Square Peg, Round Hole . . . . . . . . . . . . . Andrew N . Berg 3 Adele M . Karig
David H . Schnabel Peter F . G . Schuur
Navigating Conflicts on Boards of Portfolio Companies . . . . . . . . . . . . . . . . . . Kevin M . Schmidt 5 Connie H . Chung
A Tune-Up for Going Privates—Goodbye to Frivolous Lawsuits? . . . . . . . . . . . Jeffrey J . Rosen 7 Gary W . Kubek
William D . Regner
Selected Issues to Consider When Taking a Portfolio Company Public . . . . . . Steven Ostner 9 Xavier P . Grappotte
The Challenge of Valuation Guidelines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Colin Blaydon 11(Guest Column) Fred Wainwright
Tuck School of Business at Dartmouth
Are Private Equity and Strategic Deal Terms Converging? . . . . . . . . . . . . . . . . Franci J . Blassberg 13 Joshua J . G . Berick
Spinouts of Private Equity Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 15(Trendwatch) Mark van Dam
For U.S. Companies, Exiting with Canadian IDSs Falls Short of Promise . . . . Peter A . Furci 17
Most Private Equity Funds Now Exempt from German Penalizing Tax Regime and Reporting and Publication Requirements . . . . . . . Dr . Friedrich E . F . Hey 19(Alert)
Second Lien Financing: A Ten-Point Primer for the Borrower (and its Sponsor) on Intercreditor Dynamics . . . . . . . . . . . . . . . . . . . Paul S . Brusiloff 20 Gregory H . Woods
Spring 2005 | Volume 5, Number 3 Title Author(s) Page
The Challenges of Convergence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell 1 Jennifer A . Spiegel
Are Private Equity Investors Beginning to Resemble Their Public Equity Brethren? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Brian Mooney 5(Guest Column) Ari Schottenstein
Cogent Partners
Claim Check, Please . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 7
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 23
Dangerous Liaisons: Teaming Up with Management and Significant Stockholders in Going-Private Transactions . . . . . . . . . . . . . . . Margaret A . Davenport 9 Stefan P . Stauder
Is Seller Paper the Way to Go? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sung S . Pak 11
Goodbye to the Best of Both Worlds: UK Tax Changes Affecting LBO Deals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Richard Ward 13
New IRS Ruling on “Leveraged Partnership” Structure . . . . . . . . . . . . . . . . . . . Peter A . Furci 15 (Alert) Vadim Mahmoudov
Throwing Out the Bath with the Bathwater . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 16 Peter A . Furci
Winter 2005 | Volume 5, Number 2 Title Author(s) Page
Vendor Due Diligence Reports— Is it “Put Up or Shut Up” for Buyers? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Sommer 1 Wendy A . Semel
Due Diligence in Cyberspace: The Rise of the Electronic Data Room . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Joshua J . G . Berick 3
Building and Maintaining LP Confidence in a Transparent World . . . . . . . . . Thomas C . Franco 5(Guest Column) Broadgate Consulants
U.S. Public Disclosure Laws Put the Unwanted Spotlight on Private Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rebecca F . Silberstein 7 Monica K . Arora
UK Freedom of Information Act Could Spell Trouble for Private Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 9 Saloni Joshi
First-Time Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 11(Trendwatch)
Is Your Auditor in a State of Independence? . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Bab 13
Hedge Fund Registration Q&A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 15 Jennifer A . Spiegel
Deferred Compensation Rules Revisited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lawrence K . Cagney 17 David P . Mason
Jamin R . Koslowe
Don’t Trip over a Tender Offer: Buying Public Companies in France . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Antoine F . Kirry 19
page 24 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Fall 2004 | Volume 5, Number 1 Title Author(s) Page
Caveat U.S. Emptor: Doing Private Deals in the UK? Beware the Differences Between U.S. and UK Law and Practice . . . . . . . . . . . Geoffrey P . Burgess 1 John Morgan
UK Income Deposit Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . James C . Scoville 3 Arthur Stewart
That’s Substantially All, Folks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meredith M . Brown 4 Gary W . Kubek
William D . Regner
Transfers by Investors in Private Equity Funds: Bad News and Good News Under the New U.S. Tax Bill . . . . . . . . . . . . . . . . . . David H . Schnabel 5 Rafael Kariyev
U.S. Congress Approves Sweeping New Rules on Deferred Compensation . . . . Lawrence K . Cagney 6 Jamin R . Koslowe
Mezzanine Financing—The European and U.S. Experience . . . . . . . . . . . . . . . Peter Hockless 7 Sung Pak
Spinning Out of an Institutional Private Equity Manager— A Personal Perspective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hugh Richards 10(Guest Column) Exponent Private Equity LLP
Seven Key Issues Under Senior Debt Commitment Letters . . . . . . . . . . . . . . . . Stephen R . Hertz 11 Stefan P . Stauder
Reopening the Lockup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . William D . Regner 13(Alert)
SEC’s Proposed Hedge Fund Adviser Registration Rule Sparks Concerns Among Private Equity Advisers . . . . . . . . . . . . . . . . . . . . . . . . Jennifer A . Spiegel 14
Private Equity Offerings May Face Prospectus Requirements in Germany . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David Hickok 15(Alert) Patricia Vollhard
Russia: Private Equity Update . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Holly Nielsen 16
French Acquisition Financings—Key Structuring Issues . . . . . . . . . . . . . . . . . . Eryl Besse 18
Summer 2004 | Volume 4, Number 4 Title Author(s) Page
Avoiding the Whipsaw in Acquiring Foreign Companies— The Impact of U.S. Economic Sanctions Laws . . . . . . . . . . . . . . . . . . . . . . . . . . Carl Micarelli 1
Future Products Liability Claims Pose Fraudulent Conveyance Risk . . . . . . . . Mark P . Goodman 3
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 25
To BDC or Not to BDC: The Promise and Perils of “Public Private Equity” . . . . . . . . . . . . . . . . . . . . . . . Josh Lerner 4(Guest Column) Harvard Business School
Antoinette Schoar MIT Sloan School of Management
Taxation of Carried Interest in Germany . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Friedrich Hey 6 David F . Hickok
Top 10 Things Private Equity Sponsors Need to Know About Sarbanes-Oxley . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 7 Michael K . Kneller
Compensating UK-Based Executives of Private Equity Sponsors . . . . . . . . . . . Richard Ward 10 Kerry Westwell
The Aftermath of Connecticut v. Forstmann Little & Co.— Lessons from Connecticut State Court . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rebecca F . Silberstein 12(Alert)
Tax Reporting for Private Funds Sold in Germany: Moving in the Right Direction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 13 Patricia Volhard
The Tax Alphabet Cheat Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No byline 14
Buying a Private Equity Fund Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gregory V . Gooding 15
Spring 2004 | Volume 4, Number 3 Title Author(s) Page
Business Development Companies and the New Public Market in Mezzanine Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 1 Colette C . Haider
Michael J . Whidden
Pending Legislation Could Increase Administrative Costs for Private Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 3(Alert)
European Funds Revisited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 4(Trendwatch)
The Inspire Art Judgment of the ECJ: New Ways to Structure Acquisitions in the European Union . . . . . . . . . . . . . . . Thomas Schürrle 6 Elisabeth Huber-Sorge
VCOC Traps for the Unwary: Will Your Deal be VCOC Compliant? . . . . . . . . Margaret A . Davenport 8 Jamin R . Koslowe
Proposed HSR Rules May Mean Filings for Partnerships and Other Non-Corporate Entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Daniel M . Abuhoff 10(Alert)
page 26 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Lost in Translation: Dispute Resolution Considerations in Cross-Border Deals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . John M . Vasily 11 Mark W . Friedman
Kevin M . Schmidt
Bonds—No Longer a Safe Haven? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen V . Kenney 12(Guest Column) SCS Financial
Tyranny of the Minority? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meredith M . Brown 14 Gary W . Kubek
William D . Regner
Update on European Merger Control . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Gary W . Kubek 15(Alert) Molly S . Boast
Thomas Schürrle James C . Swank
To Standardize or Not to Standardize: Recent Developments in the Private Equity Valuation Debate . . . . . . . . . . . . . . Michael P . Harrell 16 Jennifer A . Spiegel
Update on Exiting by IDS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeffrey J . Rosen 28(Alert)
Winter 2004 | Volume 4, Number 2 Title Author(s) Page
Catching the Secondary Wave: Opportunities and Risks . . . . . . . . . . . . . . . . . . David J . Schwartz 1
Managing General Partner Litigation Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rebecca F . Silberstein 3 Timothy S . T . Bass
The Pitfalls of Using an English-Language, U.S.-Style Acquisition Agreement in Transactions Governed by French Law . . . . . . . . . . . Antoine Kirry 4
The New Opportunity for Private Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Alan K . Jones 6(Guest Column) Morgan Stanley
M&A in Wonderland: What You Don’t Know About Bankruptcy M&A Will Surprise You . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sarah A . W . Fitts 8
German Fund Legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 10(Alert) Patricia Volhard
Christian R . Dörre
It Was All a Bad Dream—Private Investment Funds No Longer Subject to Tax Shelter Reporting Requirements . . . . . . . . . . . . . . . . Adele M . Karig 11(Alert) David H . Schnabel
Exiting With IDSs: A New Way Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew L . Bab 12(Alert) Peter A . Furci
Jeffrey J . Rosen
New Safe Harbor Provisions on Italian Leveraged Buy-Outs . . . . . . . . . . . . . . . Giancarlo Capolino Perlingieri 14(Alert) Dante Leone
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 27
SEC Sends Message to Private Fund Advisers: Adopt Compliance Policies and Procedures Now! . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 15 Marcia L . MacHarg
Jennifer Anne Spiegel
NASD Relaxes Ban on Use of Related Performance Information . . . . . . . . . . . Jennifer Anne Spiegel 24(Alert) Michael P . Harrell
Kenneth J . Berman
Fall 2003 | Volume 4, Number 1Title Author(s) Page
Presented for Your Approval: Parachute Payments Enter the Twilight Zone . . . . . . . . . . . . . . . . . . . . . . . . . . . Lawrence K . Cagney 1
How “Independent” is Independent Enough? . . . . . . . . . . . . . . . . . . . . . . . . . . . Meredith M . Brown 3 William D . Regner
Fund Terms and Conditions: Beware of “Solving the Valuation Conundrum” . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer J . Burleigh 4
Public to Private: Few Companies Have Shown Up for the Party . . . . . . . . . . . David S . Lobel 6(Guest Column) Sentinel Capital Partners
Making Sense of the Cash Balance Plan Brouhaha . . . . . . . . . . . . . . . . . . . . . . . David P . Mason 8
Advisory Committees in U.S. and European Private Equity Funds . . . . . . . . . . Michael P . Harrell 10(Trendwatch) Geoffrey Kittredge
Dale Gabbert Irina Davydenkova
Sign on the Dotted Line? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Joshua J . G . Berick 12 Franci J . Blassberg
An Introduction to Private Equity Firm D&O Insurance Coverage . . . . . . . . . Robert J . Cubitto 14 Heidi A . Lawson
SEC Staff Recommends Registration of Hedge Fund Advisers— Private Equity Advisers Likely to Be Unaffected . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer Anne Spiegel 16(Alert)
UK Provides Relief for Carried Interest Holders from Application of New Tax Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Peter F . G . Schuur 17 Kerry Westwell
Is It Time for a Power Play? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . John M . Allen, Jr . 18
Germany to Modernize Fund Laws . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 19 (Alert) Patricia Volhard
Christian R . Dörre
France: Private Placement of Foreign Closed-End Funds Now Easier . . . . . . . . Sylvie Deparis-Maze 28(Alert)
page 28 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Summer 2003 | Volume 3, Number 4 Title Author(s) Page
Are the Terms of U.S. and European Private Equity Funds Converging? . . . . . Michael P . Harrell 1 Marwan Al-Turki
Special Tax Issues for Tax-Exempt and Foreign Investors in Private Equity Funds . . . . . . . . . . . . . . . . . . . . . . . . . . Adele Karig 3 David H . Schnabel
The New 15% Tax Rate and the Opportunities It Creates . . . . . . . . . . . . . . . . . Gary M . Friedman 4 David H . Schnabel
Grace Under Pressure: Revisiting Fraudulent Conveyance Risk . . . . . . . . . . . . Andrew L . Bab 5
Be Wary of Consolidation in Private Equity Transactions . . . . . . . . . . . . . . . . . Edward Kingsley 6(Guest Column) Randall Sogoloff
Deloitte & Touche
Update on Big-Boy Letters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 7
A Structural Victory for the European High-Yield Market . . . . . . . . . . . . . . . . David A . Brittenham 8 Alan J . Davies
Hedging Bets on Hedge Fund Regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer Anne Spiegel 9
Recaps Redux . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 10 Marc A . Kushner
Newton Davis
FCC Insulation Provisions Still Needed for Investment in Media . . . . . . . . . . . Jeffrey P . Cunard 24(Alert)
Funds With Individual Limited Partners Need to Send Annual Privacy Notices—And Mean It! . . . . . . . . . . . . . . . . . . . . Kenneth Berman 24 Shannon Conaty
Spring 2003 | Volume 3, Number 3 Title Author(s) Page
Securitization of Private Equity Fund Interests: What Every Fund Sponsor Should Know . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 1 Mia B . Warren
Could This Be the Year to Start Expensing Stock Options? . . . . . . . . . . . . . . . . David P . Mason 3
Due Diligence—A Duffer’s Delight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Joseph F . Coughlin 4(Guest Column) Corporate Risk Solutions LLC
Do Big-Boy Letters Really Work? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 5
Making Sense of the New Tax Rules Applicable to Confidential Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 6 Adele M . Karig
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 29
China’s Revised Venture Capital Rules: The Rule-Making Process in China . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jeffrey S . Wood 8
Indemnification by Stockholders of Public Targets . . . . . . . . . . . . . . . . . . . . . . Andrew L . Bab 10
Going, Going, Gone? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meredith M . Brown 11 William D . Regner
Convertible Preferred Shares à la Française . . . . . . . . . . . . . . . . . . . . . . . . . . . . Ann G . Baker 12 Felicia A . Henderson
German Funds Made Easier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 28(Alert) Christian R . Dörre
Winter 2003 | Volume 3, Number 2 Title Author(s) Page
Questions to Ask Before You Join a Club . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul S . Bird 1 Franci J . Blassberg
Michael P . Harrell Laura N . Beny
Shark Repellants That Can Bite . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . William D . Regner 3
Private Equity and the Proposal to Exclude Dividends From Income . . . . . . . . Gary M . Friedman 4
How to Ensure That Your Special Committee Is Special . . . . . . . . . . . . . . . . . . Gregory V . Gooding 5
A Comparison of U.S. and UK Private Equity Funds . . . . . . . . . . . . . . . . . . . . . Geoffrey Kittredge 6
What’s Good for the Goose…Turning the Due Diligence Spotlight on Sponsor Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Steven Millner 8(Guest Column) DML
Minority Equity Investments in German Companies . . . . . . . . . . . . . . . . . . . . . David F . Hickok 10 Dr . Thomas Schürrle
You’re Not in Delaware: Directors’ Liabilities in Major European Countries . . . . . . . . . . . . . . . . . . . . . . James A . Kiernan 12 Dale Gabbert
Elisabeth Huber-Sorge Julie Perchenet
Removal of the UK 20-Partner Rule Limit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No byline 17(Update)
Goodbye to Lockups? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . William D . Regner 24(Alert) Jonathan Levitsky
page 30 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Fall 2002 | Volume 3, Number 1 Title Author(s) Page
The Sarbanes-Oxley Act’s Surprising Impact on Private Equity . . . . . . . . . . . . Joshua L . Targoff 1
Distressed Company Acquisitions—Section 363 Sales . . . . . . . . . . . . . . . . . . . . Gregory V . Gooding 3
Human Capital—A Private Equity Firm’s Greatest Asset . . . . . . . . . . . . . . . . . . Connie Kassouf 4(Guest Column) Keith Macomber
Heidrick & Struggles International
Tax Pitfalls for Buyout Funds Buying Portfolio Company Debt . . . . . . . . . . . . David H . Schnabel 5 Steven A . Dean
The Pure Way to Go Private . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meredith M . Brown 7 Gregory V . Gooding
William D . Regner
Funds of Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 8(Trendwatch)
Covering Your Assets: Indemnification and D&O Insurance . . . . . . . . . . . . . . Robert J . Cubitto 10 Joshua Berick
New Guidelines Signal Greater Transparency for French Fund Managers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Ann G . Baker 12
FTC Welcomes Multiple Filings from Multiple Bidders . . . . . . . . . . . . . . . . . . . Daniel M . Abuhoff 13
Most Private Funds Will Be Exempt from Anti-Money Laundering Compliance Programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 20(Alert) Kenneth J . Berman
Shannon Conaty Jennifer Anne Spiegel
Summer 2002 | Volume 2, Number 4Title Author(s) Page
What Does “Best Efforts” Really Mean? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Stephen R . Hertz 1 Joshua L . Targoff
Mezzanine Funds: In the Spotlight . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer J . Burleigh 3
Mezzanine Funds: Selected Tax Structuring Considerations . . . . . . . . . . . . . . . Adele M . Karig 4 Peter A . Furci
Private Equity in Russia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Holly A . Nielsen 6
Mezzanine on the Move in Europe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Philip Borel 8(Guest Column) Robin Burnett
Private Equity International
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 31
Mezzanine Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rebecca F . Silberstein 10(Trendwatch)
Can Transaction Based Insurance Solve Deal Jitters? . . . . . . . . . . . . . . . . . . . . . Jeffrey J . Rosen 12
Spring 2002 | Volume 2, Number 3 Title Author(s) Page
Sponsored Spin Offs: The Private Equity Fund as Anchor Investor . . . . . . . . . Paul S . Bird 1 Peter F . G . Schuur
Down Rounds: How to Protect Against Future Uncertainty . . . . . . . . . . . . . . . David J . Schwartz 3
Europe: Finding the Sweet Spots for U.S. Investors . . . . . . . . . . . . . . . . . . . . . . Geoffrey Cullinan 4(Guest Column) Tom Holland
Bain & Company Simon Baines London-based consultant
Private Equity Funds Abroad: Establishing a London Office . . . . . . . . . . . . . . Sherri G . Caplan 6 Geoffrey Kittredge
Dale Gabbert
Private Equity Funds Sponsored by Non-U.S. Managers: How Different Are Their Terms? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 8(Trendwatch)
Protecting Shareholders from Superfund Liability . . . . . . . . . . . . . . . . . . . . . . . Stuart Hammer 10
Recent Developments in Anti-Money Laundering Laws and Their Impact on Private Investment Funds . . . . . . . . . . . . . . . . . . . . . . . . . Kenneth J . Berman 12 Michael P . Harrell
Shannon Conaty Jennifer Anne Spiegel
Italian Corporate Law Reform Promises Friendlier Deal Environment . . . . . . Maurizio Levi-Minzi 14 Giancarlo Capolino Perlingieri
Marketing Guidelines in Private Placements . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rebecca F . Silberstein 16
Recent Amendments to CERCLA Limit Liability for Purchasers . . . . . . . . . . . Stuart Hammer 24(Alert) Harry Zirlin
Winter 2002 | Volume 2, Number 2 Title Author(s) Page
Can You Sandbag? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Robert F . Quaintance, Jr . 1
The SEC’s “All Holders/Best Price Rule” Can Complicate Management Arrangements in Tender Offers . . . . . . . . . . . . . . . . . . . . . . . . . . . David P . Mason 3 David S . Lebolt
page 32 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Surviving in Private Equity’s Brave New World . . . . . . . . . . . . . . . . . . . . . . . . . Eric W . Doppstadt 4(Guest Column) The Ford Foundation
Does It Matter Who Your Fund Advisers Are? . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 6(Trendwatch)
Caveat Investor: Phase 1s May Not Be Adequate for Analyzing Environmental Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Stuart Hammer 8
Employee Leveraged Co-Investment Plans: Should You Have One? . . . . . . . . . Elizabeth Pagel Serebransky 10 Kenneth J . Berman
Troubling Times for Directors of Portfolio Companies . . . . . . . . . . . . . . . . . . . Richard F . Hahn 12 Harold A . Neu
The New German Tender Offer Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David F . Hickok 14 Dr . Thomas Schürrle
Are Your Fund Marketers “Brokers?” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Marcia L . MacHarg 15 Kenneth J . Berman
Rachel H . Graham
Removal of the U.K. 20 Partner Limit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Colin Bogie 22(Alert) Sherri G . Caplan
Fall 2001 | Volume 2, Number 1 Title Author(s) Page
Covering Your Assets: The Upside and Downside of Products Liability Due Diligence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mark P . Goodman 1 Steven D . Greenblatt
Don’t Forget Your MAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 3 William D . Regner
A Case for European Private Equity Investment . . . . . . . . . . . . . . . . . . . . . . . . . George Anson 4(Guest Column) HarbourVest Partners (U.K.) Limited
What the End of Goodwill Amortization Means for Finance Agreement Covenants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul D . Brusiloff 5
Tax Benefits for “Qualified Small Business Stock” . . . . . . . . . . . . . . . . . . . . . . Adele M . Karig 6 Amanda Buck Goehring
Are Shareholder Agreements Enforceable? Yes, But… . . . . . . . . . . . . . . . . . . . . John M . Vasily 8
Recapture of Director’s Fees, Transaction Fees and Breakup Fees . . . . . . . . . . . Woodrow W . Campbell, Jr . 10(Trendwatch)
Consolidation 101 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Margaret A . Davenport 12 Felicia A . Henderson
Good News from the IRS on Section 83(b) Elections and Carried Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Andrew N . Berg 14(Alert) Adele M . Karig
David H . Schnabel
Debevoise & Plimpton Private Equity Report Article Index l Spring 2013 l page 33
Summer 2001 | Volume 1, Number 4 Title Author(s) Page
Germany—A Prime Target for Private Equity Funds . . . . . . . . . . . . . . . . . . . . . David F . Hickok 1 Thomas Schürrle
German Tax Reform: A Primer for Fund Managers . . . . . . . . . . . . . . . . . . . . . . Gary M . Friedman 3 Friedrich Hey
The Potential and Challenge of Private Equity in Germany . . . . . . . . . . . . . . . Donald J . Gogel 4(Guest Column) Clayton, Dubilier & Rice, Inc.
The German Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 6(Trendwatch)
Is the Insurance Industry Any Place for Private Equity Firms? . . . . . . . . . . . . . Paul S . Bird 8 Wolcott B . Dunham
Andrew L . Sommer
Avoiding “Phantom Income” When Buying Preferred Stock . . . . . . . . . . . . . . . David H . Schnabel 10 Peter A . Furci
What’s the Buzz About Privacy? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sarah A . W . Fitts 12 Sheri Rabiner-Gordon
Options and Capital Gains—The Best of Both Worlds . . . . . . . . . . . . . . . . . . . Andrew N . Berg 14(Alert) Margaret A . Davenport
Spring 2001 | Volume 1, Number 3 Title Author(s) Page
Without Pooling, Are Recaps Doomed? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 1 Stephen R . Hertz
Joshua L . Targoff
A Brave New World: Revised Article 9 Due to Hit July 1, 2001 . . . . . . . . . . . . William B . Beekman 3
The Advantage of Identity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David Webb 4(Guest Column) Merrill Lynch & Co.
SEC Staff Loosens Standards for No-Action Relief for Broad-Based Stock Option Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Elizabeth Pagel Serebransky 5
Termination Fees, Expense Reimbursement and the LBO Fund . . . . . . . . . . . . Andrew L . Bab 6 Sherri G . Caplan
Key Issues in Reviewing Confidentiality Agreements . . . . . . . . . . . . . . . . . . . . . Timothy S . T . Bass 8
Investing in a Foreign Portfolio Company: Call 1-800 Tax Lawyer . . . . . . . . . Gary M . Friedman 10
Run-off Management Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 12(Trendwatch)
Private Equity Funds and Financial Holding Companies . . . . . . . . . . . . . . . . . No byline 16(Alert)
page 34 l Debevoise & Plimpton Private Equity Report Article Index l Spring 2013
Winter 2001 | Volume 1, Number 2 Title Author(s) Page
Keeping Private Funds Private on the Internet . . . . . . . . . . . . . . . . . . . . . . . . . . Jennifer J . Burleigh 1
Caution to Controlling Shareholders: Process Matters When Selling a Portfolio Company . . . . . . . . . . . . . . . . . . . . . Franci J . Blassberg 3 William D . Regner
European Private Placements of Investment Fund Interests . . . . . . . . . . . . . . . . Ann G . Baker 4 Sylvie Deparis-Maze
Registration as an Investment Adviser: The More Successful You Are, the More Likely You Will Be Required to Register . . . . . . . . . . . . . . . David J . Schwartz 6
Do All Good Things Come to an End? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael S . Klein 8(Guest Column) Schroeder Salomon Smith Barney
SEC Makes Switch Between Public and Private Offerings Easier . . . . . . . . . . . Peter J . Loughran 10(Alert) Kevin M . Schmidt
Important Changes to Hart-Scott-Rodino Notification Requirements . . . . . . . Daniel M . Abuhoff 11 Gary W . Kubek
Fund Management Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Woodrow W . Campbell, Jr . 12(Trendwatch)
Fall 2000 | Volume 1, Number 1 Title Author(s) Page
Estate Planning for Carried Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jonathan Rikoon 1
Should Your Next Fund Be Organized as a Cayman Islands Partnership? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . David H . Schnabel 3
Yale’s David Swensen Speaks at Debevoise on Private Equity . . . . . . . . . . . . . . David Swensen 4(Guest Column) The Yale Endowment
European Financial Assistance Prohibitions: Just Another Challenge for Private Equity Firms . . . . . . . . . . . . . . . . . . . . . . . . James A . Kiernan III 6 Colin W . Bogie
Clawbacks: Protecting the Fundamental Business Deal in Private Equity Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Michael P . Harrell 7
The Impact of SEC Regulation FD on Portfolio Companies of Private Equity Firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Paul S . Bird 8
The SEC’s New Reporting Rules for Guarantors . . . . . . . . . . . . . . . . . . . . . . . . . David A . Brittenham 10 Peter J . Loughran
Paul D . Brusiloff
New SEC Rule Makes Trading Easier for Insiders . . . . . . . . . . . . . . . . . . . . . . . No byline 16(Alert)