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Return to Work Resource Guide – A Thoughtful, Strategic Approach to Resuming Operations
Employers face enormous complexity as executive orders mandating closures expire or are eased to permit the resumption of commercial activity. Asking the right questions, providing the right answers, and setting policies and guidelines that incorporate guidance from federal, state, and local authorities on practices pose a daunting task to businesses of all sizes.

View Resource Center  |  Watch Webinar Replay

Akerman's Coronavirus Task Force and industry-focused practice teams are here to help manage the unprecedented and newly emergent challenges COVID-19 poses to your businesses, workforces, and supply chains, as well as potential losses and liability, and litigation and transactions, across a variety of sectors.

View Akerman's Coronavirus Resource Center

Updated: Reviewing PPP Loan Application Certifications in Light of Additional SBA Guidance
Since the implementation of the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on April 3, 2020, the U.S. Small Business Administration (SBA) through consultation with the U.S. Department of the Treasury has issued additional guidance on the PPP loan program through the publication of Frequently Asked Questions (FAQs) and a number of Interim Final Rules (collectively, IFRs). Read Article

Employee Retirement Plans: Cost-Saving Measures and Increasing Employee Monetary Access During COVID-19
With today’s uncertainties, employers are addressing their own short term cash needs as well as their employees’/former employees’ ability to support themselves financially in these trying times. Consequently, employers are reviewing their sponsored retirement plans from both a cost-savings standpoint as well as a vehicle for providing interim financial assistance to their employees impacted by COVID-19. Read Article

COVID-19 Impact on the Investment Management Industry
As the outbreak of the coronavirus disease (COVID-19) spreads across the globe, its impact on markets, businesses and portfolios continues to grow. The challenges and opportunities COVID-19 presents to those in the investment management industry will be accompanied by a number of legal and compliance considerations. A summary of several key considerations is included below. Read Article

We were prepared for the current work and legal environment and have resources in place that allow us to continue to serve you seamlessly. Please rest assured that our law firm is — and will continue to be — up and running, working to serve your best interests. The Duane Morris COVID-19 Strategy Team is working around the clock to monitor COVID-19 related developments and issuing alerts about how emergency measures are likely to affect our clients.  

Webinar Replays
Improving the Prognosis: Addressing COVID-19 Induced Stress at Your Educational Institution

Doing Deals in the COVID-19 Era: The CARES Act’s Tax Implications for Real Estate

Doing Deals in the Land of OZ:  How Deals Are Going ─ Lending and Construction Loans in the COVID-19 Era  

CARES Act Offers Small Businesses Relief Through Paycheck Protection Program

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides over $2 trillion of relief designed to ease some of the economic hardship caused by the COVID-19 outbreak. This includes the Paycheck Protection Program, which provides cash flow and liquidity through loan opportunities for small businesses, sole proprietors and independent contractors across various industries. Read Article

PARTNERS

CohnReznick Increases Investment in Transactions & Turnaround Advisory Practice Integrated Team Enhances Services in Post-COVID Marketplace

New York, NY – CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced the combination of several synergistic teams under the Transactions & Turnaround Advisory umbrella. The integrated practice, brings together the firm’s transactional, restructuring and dispute resolution, valuation, and project finance advisory teams to meet increasingly complex client needs. Claudine Cohen, a seasoned transaction advisor, will lead the combined group as Managing Principal. Read Press Release

SBA amends requirements for its Paycheck Protection Program
On the eve before the launch of the Paycheck Protection Program (part of the CARES Act), the SBA issued updated guidance for borrowers and lenders. While a number of issues still require resolution, the updated guidance does contain changes and clarifications on points including qualifications, loan terms, and use of loan funds. Read >

Industry perspectives
As the coronavirus continues to impact businesses in every sector, our teams with industry-specific expertise are publishing relevant insights and guidance. Explore the industry section of our Resource Center, or read our latest releases.

Tax updates
To make it easier for you to keep up with the tax information most relevant to your organization, we’ve gathered all of our federal and state and local tax (SALT) alerts into their own pages. We’ll continue to add more, so keep checking back. Federal updates > SALT updates >

Small business assistance
CohnReznick has assembled a national task force to help you file for SBA’s low-interest federal disaster loans. Contact >

A rapid response to business disruption
In uncertain times, CohnReznick’s Rapid Assessment is the first step to addressing your current work environment. We help you identify the urgent solutions needed to get your business back on track. Learn more >

Coronavirus: Guidance for your business during uncertain times
Access our resource center for insights on managing risk and addressing challenges during this pandemic as well as content on preparing for future disruptions. MORE >


COVID-19:  WEEKLY SUPPLY CHAIN HIGHLIGHTS

While most CEOs are focused on immediate actions to reserving cash, we are finding that supply chain strategy is taking a predominant seat in every board room today. Our eyes are opened to the criticality of supply chain as a fundamental backbone to nearly every business today and into the future. While we work with you on today’s needs, we find that those that are using todays supply chain learnings to shore up longer term scale and risk management, will be the ultimate benefactor’s long term. We found the highlights to be very relevant and synergistic with our own findings and long-term strategies with clients today. Topics include:

  • DISTRIBUTION
  • LOGISTICS and TRANSPORTATION
  • INVENTORY
  • TECH SYSTEMS

Read Highlights

As your trusted supply chain advisor, LynnCo is committed to keeping you abreast of critical changes around supply chain and will send weekly updates. We stand ready to significantly help you navigate through these choppy waters. In doing so, we have created the Concierge Service Team to provide immediate and ongoing support with your supply chain planning and preparation initiatives. You can reach the team at: concierge-service@lynnco-scs.com


COVID-19 PRIMER FOR PRIVATE EQUITY FUNDS
In this article:

  • In a very short period of time, private equity groups and their portfolio companies have had to deal with an unprecedented amount of change in response to the novel coronavirus (COVID-19) crisis
  • Pepper Hamilton is working diligently in response to these events and has developed guidance on many of the issues that you may soon face, or indeed may already be facing

Read Article

OVERVIEW: FEDERAL RESERVE REVISES AND CLARIFIES MAIN STREET LENDING PROGRAM

On April 30, after processing more than 2,200 comment letters to its initial term sheets, the Federal Reserve Board announced new terms that expand the scope and eligibility for the Main Street Lending Program (the Program) and published a set of frequently asked questions (FAQs) that provide additional clarification to certain aspects of the Program. The Federal Reserve has not yet published details related to loan participation terms, credit administration or loan servicing and has not yet announced an official launch date for the Main Street Lending Program. Read Article

IN-DEPTH LOOK AT FEDERAL RESERVE'S UPDATED DETAILS OF MAIN STREET LENDING PROGRAM
On April 30, the Federal Reserve released updated term sheets and a set of FAQs in relation to its Main Street Lending Program (the Program). The Main Street Lending Program, as updated, will now consist of three loan facilities:

  • the Main Street New Loan Facility for new secured or unsecured term loans to be originated on or after April 24, 2020 (New Loans)
  • the Main Street Expanded Loan Facility for incremental term loans that are added as an additional tranche of an existing term loan or revolving credit facility that was made by a bank or certain other eligible lenders before April 24, 2020 (Expanded Loans)
  • the Main Street Priority Loan Facility for new loans that do not need to be tied to an existing term loan or revolver made by a bank or other eligible lender, subject to certain payment and lien priority requirements more fully discussed below (Priority Loans)

Read Article

COVID-19 PRIMER FOR PRIVATE EQUITY FUNDS

In a very short period of time, private equity groups and their portfolio companies have had to deal with an unprecedented amount of change in response to the novel coronavirus (COVID-19) crisis. Pepper Hamilton is working diligently in response to these events and has developed and been updating guidance on many of the issues that you may soon face, or indeed may already be facing. The guidance offered below takes into account developments as of today, but, as the situation continues to develop, the guidance will need to evolve as well. Furthermore, your particular facts may or may not easily fall within the guidance discussed below. Your advisers at Pepper Hamilton are available to talk with and help you through these issues as they arise. Read Article


As the world faces the reality of a pandemic, maintaining business operations remains a priority, second only to the health and safety of our communities.

We’ve assembled a COVID-19 task force of leaders across the firm to monitor, address, and mitigate risks presented by the virus, and we’re sharing our insights with you right here COVID-19 Resource Center.

CARES Act:

Families First Act:

Greenberg Traurig’s Health Emergency Preparedness Task Force on Coronavirus Disease 2019 (COVID-19) has insight and experience that may be critical to clients as the world continues to monitor and address this situation caused by the newly discovered virus. During and following a health emergency, individuals, businesses and property owners confront a host of legal issues, perhaps for the first time. Decisions often need to be made very quickly and under difficult circumstances. As the world continues to monitor and address the impact of COVID-19, being prepared for related issues and legal implications makes good business sense. Visit Website

MAY 14 DEADLINE FOR PPP LOAN REPAYMENT
Some highly publicized businesses have received PPP loans that many felt should not have, and those businesses have since announced they would be repaying the loan. As a result the SBA has issued an FAQ regarding the certification of the business needing the loan. Businesses not meeting the aforementioned certification have until May 14, 2020 to repay the loan. Click here to learn more.

THE ROAD TO RECOVERY
The current health crisis presents significant operational and financial strain on businesses. In these unprecedented times, we are positioned to help our clients navigate the upcoming weeks and months of recovery. We are all in this together, and we are here to help plan your road to recovery in a post-pandemic economy. Visit our Crisis Management Services page to learn more about how we can help.

CLARIFICATION ON DEDUCTIBILITY OF PPP LOAN EXPENSES
Many taxpayers have received, or will soon receive, their Paycheck Protection Program (PPP) loan. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) which created the PPP, states that the proceeds of the loan are to be used to cover qualifying expenses, mainly payroll, of the business. The IRS has provided further clarification on the treatment of expenses paid related to the portion of the PPP loan forgiven. Click here to read more.

TOUGH TIMES CALL FOR TOUGH SOLUTIONS
The current health crisis presents significant operational and financial challenges to businesses. In this uncertain time, we present our Crisis Management Services to help our clients navigate the weeks and months ahead. Our experienced Distressed, Improvement and Turnaround professionals possess decades of experience assisting companies through tough times by providing comprehensive consulting, accounting, technology and tax guidance for companies in need. Our team is turning their attention to help companies directly affected by the current slowdown. We are all in this together and we will work with those in need to help them weather the storm. See the Crisis Management Services page of our website to learn more about how we can help.

Past Webinars
Network Distancing: Protect Your Virtual Workforce

As more employees work remotely, it’s critical to expand your umbrella of protection against cyber risks. We provide valuable insight on detecting cyber risks and how to protect your virtual workforce by practicing ‘network distancing.’ Watch Now

How to Engage and Manage Virtual Teams
Is your team struggling with engaging and managing a newly remote workforce? We offer guidance on what you can do today to be an effective and engaging leader in this new age. Watch Now

Suddenly Remote: Cyber Risks of a Remote Workforce
Concerned about the risks associated with a suddenly remote workforce? We offer valuable insight on the cyber risks associated with the COVID-19 outbreak and what you can do to protect your organization and your employees. Watch Now

In the wake of the current health crisis, there is a shared sense of uncertainty. These are unprecedented times and though fear of financial distress is warranted, it is not inevitable. Crisis Management Services are available to help our clients navigate the weeks and months ahead. Some of these services include:

  • Cash flow control, analysis and management
  • Interim and surge resources
  • Profit identification and FP&A support
  • Project management
  • Capital sourcing
  • Compliance and risk management

COVID-19 INFORMATION CENTER

We are actively monitoring all updates and information on COVID-19. In case you missed it, here are some additional resources:

MEDIA PARTNERS

Mergermarket Proprietary Intelligence for the Tri-State Area

 

Spiro Health actively seeking buys on heels of merger, CEO says

Kdan Mobile still seeking Series B funding, mulls IPO in two years - CEO

Mergermarket Proprietary Intelligence for the Tri-State Area

Tencent negotiating to scoop up USD 200m Warner Music stake

QuadPay to be acquired by Zip 

Abertis finalizing acquisition of RCO; tender offer ruled out

Polypid plans to launch IPO in June 

LVMH board meets to discuss Tiffany deal 

Taishin Financial, First Financial and Union Bank of Taiwan offer prices at Prudential Financial's auction 

Warner Music IPO pricing delayed in solidarity with Black Lives Matter; upper end of USD 25-USD 26 range expected

Warner Music prices IPO at USD 25 per share

 

PEI

This week’s top Private Equity news

Here are this week's biggest news in the private equity and venture capital markets. 

  1. Bain Capital to Target $9 Billion for New Buyout Fund
  2. FREE WEBINAR — Healthcare investing in the post COVID-19 era: implications for value creation in Private Equity
  3. FREE WEBINAR — ESG webinar: Staying Sustainable
  4. SoftBank Doubles Buyback Plans While Jack Ma Leaves Board
  5. Building Out Goldman Sachs’s Private-Equity Business
  6. Activist Ackman Reports Stakes in Blackstone, Park Hotels
  7. Blackstone Seeking to Lower $1.4 Billion Bid for Dutch Lender
  8. Private Equity, Hedge Funds Get Unlikely Foe in GOP Think Tan
  9. Ten Predictions for How COVID-19 Will Transform Private Equity
  10. Bidders Are Lining Up to Buy Virgin Australia After Collapse

Read full list here.

View upcoming webinars here.

Privcap Webinar:  IR in the Time of Corona
An expert discussion focused on the LP/GP communication dynamic when everyone is forced to stay home. Listen to On Demand Webinar 

Private Equity Tax Policy 2020: 4 Things to Watch
Before becoming national tax go-to-market leader for RSM US LLP in September, 2019, Jim Alex served at the U.S. Department of the Treasury, where he worked on tax reform implementation alongside Assistant Secretary for Tax Policy in the United States Department of Treasury Dave Kautter, who was with RSM prior to his role with the Treasury. Alex had a front row seat to the development of regulations that would have long-term impact on private equity fund managers and their investors. Here are the highlights of Alex’s forecast for outstanding provisions that will have an outsized impact on Private Equity. Watch Video

CEOs Ask: Is Automation Worth the Effort?

Experts from Thomas H. Lee Partners, Bain & Co., and Automation Anywhere discuss the process by which the best CEOs determine where to begin automating functions within their companies. They explain why robotic process automation typically begins with processes that involve humans touching many pieces of paper. Watch Video

Investing for Impact: Affordable Housing

PGIM Real Estate on the opportunity to invest well – and do good – at the same time. PGIM Real Estate investment veterans Lisa Davis and Raimondo Amabile discuss the opportunity in affordable housing, including the social and environmental impact that these investments can have and, in Europe, the move from government-backed programs to those backed by private capital. Watch Video

Vancouver Values: Tricor Pacific’s Rod Senft

Part of Privcap’s “Powerhouses in Private Equity” interview series, Tricor Pacific Capital’s Rod Senft discusses the rise of his Vancouver-based multi-strategy firm, how he wants entrepreneurs to view him, his favorite deal, and the “joy” and “thrill” that business builders need to feel to thrive. Interview by RSM Canada’s Ben Gibbons. Watch Video

DATA PARTNER


Past Webinars

Navigating uncertainty: Q1 2020 VC activity in the context of COVID-19 and market volatility  |  Watch Recording

COVID-19: Assessing the impact on PE  |  Watch Recording

European PE deal activity reached a new first-quarter peak in Q1 2020, but we are set to see a pandemic-related slowdown in the remaining quarters of the year. Several European nations have gone into a sudden and sharp recession due to COVID-19, and the International Monetary Fund (IMF) sees the world economy suffering its worst recession since the Great Depression. GPs are laser-focused on protecting their portfolio companies in the coming quarters, which has caused several sponsors to pause or outright cancel transactions. This will see deal activity fall to levels not seen since the global financial crisis (GFC). We anticipate bolt-on, take-private and private investment in public equity (PIPE) activity to rise in 2020 due to severe public market dislocation and the relative ease of financing for smaller minority investments compared to full-scale takeovers in this environment. 

For more, please see PitchBook’s Q1 2020 European PE Breakdown.