Debevoise & Plimpton

WEX INC. FILES FEDERAL LAWSUIT AGAINST HP TO PROTECT TRADEMARK AND BRAND

Retrieved on: 
Thursday, April 11, 2024
Debevoise & Plimpton, Ecosystem, Martha Plimpton, AI, Software, Software as a service, HP, Confusion, HP Inc., Data management, Hewlett-Packard, DeBevoise, IA Financial Group, WEX, Friction

On March 7, 2024, HP announced the launch of its own "WEX," a misappropriation of WEX's trademarks.

Key Points: 
  • On March 7, 2024, HP announced the launch of its own "WEX," a misappropriation of WEX's trademarks.
  • HP's "WEX" is marketing to a similar customer base as WEX, which is inevitably causing confusion in the marketplace.
  • WEX holds five incontestable trademark registrations protecting use of the WEX name for services that HP's "WEX" is attempting to mirror, claiming services in the same classes as the registered WEX trademarks.
  • WEX intends to seek a preliminary injunction to force HP to immediately discontinue all further infringement of the WEX trademark.

Morgan Stanley Capital Partners Completes Sale of World 50 to New Continuation Fund Investment Vehicle

Retrieved on: 
Tuesday, March 26, 2024
Banking, Asset Management, Professional Services, Finance, Metalmark Capital, Growth, Partnership, Corporate services, Sale, MSCP, DeBevoise, Investment, Parent, Debevoise & Plimpton, Management

Investment funds managed by Morgan Stanley Capital Partners (“MSCP”) today announced the sale of World 50 Parent LLC and its related subsidiary companies (“World 50” or the “Company”) to a single asset GP-led continuation fund investment vehicle managed by an affiliate of MSCP.

Key Points: 
  • Investment funds managed by Morgan Stanley Capital Partners (“MSCP”) today announced the sale of World 50 Parent LLC and its related subsidiary companies (“World 50” or the “Company”) to a single asset GP-led continuation fund investment vehicle managed by an affiliate of MSCP.
  • The continuation fund is led by investments from Pantheon with co-lead participation from Blue Owl Strategic Equity and Lexington, with Norwest, Ares Management Funds, AltamarCAM and Churchill also committing to the vehicle.
  • Headquartered in Atlanta, Georgia, World 50 is an invitation-only, peer-to-peer network and knowledge exchange platform.
  • “We believe World 50 is a unique business model with multiple levers for continued growth.

Alliance Resource Partners, L.P. Names Steven Schnitzer Senior Vice President, General Counsel and Secretary

Retrieved on: 
Tuesday, February 27, 2024
Other Energy, Mining, Minerals, Oil, Gas, Coal, Energy, Natural Resources, Acquisition, Senior, EV, Investment, Special counsel, Partnership, Sale, General counsel, Interim, VLTA, Partner, LLP, Schnitzer, DeBevoise, Debevoise & Plimpton, Katten Muchin Rosenman, Corporate group

Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Steven Schnitzer will join ARLP as Senior Vice President, General Counsel and Secretary of Alliance Resource Management GP, LLC, the general partner of ARLP, on March 1, 2024 to lead ARLP's legal activities.

Key Points: 
  • Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Steven Schnitzer will join ARLP as Senior Vice President, General Counsel and Secretary of Alliance Resource Management GP, LLC, the general partner of ARLP, on March 1, 2024 to lead ARLP's legal activities.
  • "Mr. Schnitzer is well-known to ARLP and several members of our management team," said Joseph W. Craft III, Chairman, President and Chief Executive Officer.
  • He is a seasoned general counsel.
  • Mr. Schnitzer will succeed R. Eberley Davis, who will relinquish his legal responsibilities for the Partnership after seventeen years of exemplary service.

ANTHONY, LINDER & CACOMANOLIS HIRES CAPITAL MARKETS ATTORNEY CHRISTOPHER HINES

Retrieved on: 
Monday, February 12, 2024
PALM, Growth, Columbia Law School, Columbia Business Law Review, White, Yale University, DeBevoise, Shearman, Morrison & Foerster, Debevoise & Plimpton, Private investigator

WEST PALM BEACH, Fla., Feb. 12, 2024 /PRNewswire/ -- Anthony, Linder & Cacomanolis is proud to announce that the firm has hired seasoned capital markets and mergers and acquisitions attorney Christopher T. Hines.

Key Points: 
  • WEST PALM BEACH, Fla., Feb. 12, 2024 /PRNewswire/ -- Anthony, Linder & Cacomanolis is proud to announce that the firm has hired seasoned capital markets and mergers and acquisitions attorney Christopher T. Hines.
  • Hines has been practicing law since his 2002 graduation from Columbia University School of Law, which he attended after graduating with honors from Yale University.
  • He has specialized in capital markets and M&A work throughout his career, which includes stints at Debevoise & Plimpton, Morrison & Foerster, White & Case and Shearman & Sterling.
  • "I am excited and honored to join the team at Anthony, Linder & Cacomanolis, and contribute to their growing capital markets and mergers and acquisitions practices, particularly in respect of their Japanese practice and other cross-border matters," said Hines.

As US Boards Address More Topics, Companies Increasingly Rely on External Education Programs

Retrieved on: 
Thursday, January 11, 2024
The Conference Board, KPMG, Russell Reynolds Associates, Policy, Russell 3000 Index, Rotation, Corporate governance, AI, Climate change, Research, Conference, Debevoise & Plimpton, Management

According to a new report by The Conference Board with data from ESGAUGE, the share of US companies relying on a combination of internal and external education programs grew from 25% in 2018 to 37% in 2023 among S&P 500 companies.

Key Points: 
  • According to a new report by The Conference Board with data from ESGAUGE, the share of US companies relying on a combination of internal and external education programs grew from 25% in 2018 to 37% in 2023 among S&P 500 companies.
  • Additional findings and insights include:
    While most US public companies rely exclusively on in-house board education programs for directors, more companies are complementing internal programs with external resources.
  • S&P 500: The share of companies drawing upon both internal and external resources grew from 25% in 2018 to 37% in 2023.
  • "Boards should consider adopting a policy on rotating committee memberships to help support board education and excellence.

Morgan Stanley Next Level Fund Raises $50 Million to Invest in Early-Stage Technology Companies

Retrieved on: 
Tuesday, November 21, 2023
Banking, Asset Management, Professional Services, Finance, Phalanx, MSIM, Woman, Fund, Pregnancy, Equity, Next Level, Debevoise & Plimpton, Software as a service, Health, Microsoft, Walmart, Renewable energy, Altria, Series

Morgan Stanley Investment Management (MSIM) announced the final close of Morgan Stanley Next Level Fund, L.P. (“Next Level” or the “Fund”) at its target size $50 million of total capital commitments.

Key Points: 
  • Morgan Stanley Investment Management (MSIM) announced the final close of Morgan Stanley Next Level Fund, L.P. (“Next Level” or the “Fund”) at its target size $50 million of total capital commitments.
  • Next Level, part of MSIM’s $200 billion alternative business, builds upon the expertise of the Morgan Stanley Inclusive Ventures Lab and HearstLab to invest in primarily early-stage technology and technology-enabled companies with underrepresented members as part of the founding team.
  • Target sectors include technology, consumer/retail, financial technology, healthcare, consumer products and media and entertainment.
  • Commenting on the fundraise, Alice Vilma, Co-Portfolio Manager, Morgan Stanley Next Level Fund said: “There is an immense opportunity to provide overlooked entrepreneurs with much-needed capital and resources to help them succeed.

As Responsibilities Increase, US Corporate Boards are Taking a Fresh Look at Their Committees

Retrieved on: 
Thursday, December 7, 2023
Disclosure, Russell 3000 Index, Safety, KPMG, Policy, S, Science, S&P 500, Corporate governance, Health, Conference, Chatham House Rule, Partnership, Debevoise & Plimpton, Research, Russell Reynolds Associates, Chatham House, DEI, The Conference Board, ESG, Management, Video game, Financial adviser, Cryptocurrency

But as boards expand their role to address a broadening array of topics, they are not only assigning responsibilities to existing committees but also starting to form new types of committees.

Key Points: 
  • But as boards expand their role to address a broadening array of topics, they are not only assigning responsibilities to existing committees but also starting to form new types of committees.
  • When it comes to the allocation of ESG responsibilities, virtually all S&P 500 firms disclose assignment of such responsibilities to the full board and/or one or more committees.
  • The share of S&P 500 board committees on science and technology increased from 10% in 2018 to 14% in 2023, and committees on environmental, health, and safety increased from 7% to 10%.
  • The report was produced in collaboration with Debevoise & Plimpton; KPMG; Russell Reynolds Associates; and the John L. Weinberg Center for Corporate Governance.

US Corporate Boards Are More Diverse Than Ever, But the Pace of Growth is Slowing

Retrieved on: 
Monday, November 13, 2023
Disclosure, KPMG, Russell 3000 Index, White, Corporate governance, Conference, Debevoise & Plimpton, Research, Russell Reynolds Associates, Growth, Female, The Conference Board, Clothing, Drug, Management, Chatham House

As the report points out, however, the reported growth in both racial and gender diversity has slowed in the past year.

Key Points: 
  • As the report points out, however, the reported growth in both racial and gender diversity has slowed in the past year.
  • And the share of reported racially/ethnically diverse directors remained virtually unchanged, rising from 24% in 2022 to 25% in 2023.
  • The report identifies a key factor in the slowdown: The 2023 class of new corporate directors is less diverse in terms of race and gender than the 2022 class.
  • The percentage of racially/ethnically diverse directors among new board members saw an even steeper decline, dropping from 45% in 2022 to 36% in 2023.

On US Corporate Boards, Business Strategy Experience Declines--Putting Directors at Greater Risk of Activism

Retrieved on: 
Tuesday, October 3, 2023
Debevoise & Plimpton, The Conference Board, Russell 3000 Index, Chatham House Rule, Russell Reynolds Associates, Research, Corporate governance, Russell, Chatham House, ESG, KPMG, Conference, Pharmaceutical industry, Management, Cryptocurrency

The decline in such experience among new directors was even more pronounced.

Key Points: 
  • The decline in such experience among new directors was even more pronounced.
  • In the S&P 500, business strategy experience declined from 66 percent in 2018 to 47 percent in 2023, which matched the decline in the Russell 3000 from 65 percent to 47 percent.
  • At the same time, companies are reporting higher levels of experience among directors in several ESG areas as compared to five years ago.
  • "The decline in business strategy experience may reflect a combination of underreporting of such experience and a shift in director recruitment.

Kelso & Company Closes Fund XI at $3.25 Billion, Surpassing Target

Retrieved on: 
Monday, October 2, 2023
Asset Management, Professional Services, Finance, XI, Debevoise & Plimpton, Kelso & Company, Associate, Bank

Kelso & Company, L.P. (“Kelso” or the “Firm”), a private equity firm specializing in middle market investing, is pleased to announce the closing of Kelso Investment Associates XI and affiliated funds (collectively, “Fund XI”).

Key Points: 
  • Kelso & Company, L.P. (“Kelso” or the “Firm”), a private equity firm specializing in middle market investing, is pleased to announce the closing of Kelso Investment Associates XI and affiliated funds (collectively, “Fund XI”).
  • Fund XI closed with aggregate capital commitments of $3.25 billion, surpassing the original target.
  • Included in Fund XI’s capital is participation by Kelso partners and employees of more than $400 million, representing a GP commitment of over 12%.
  • We are also pleased to have added a meaningful number of new investors.”
    Debevoise & Plimpton served as legal counsel in connection with the fundraise and formation of Fund XI.