ACG NY Partner Content

LEAD PARTNERS

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

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.

Please take a moment to review Reopening the Workplace During the COVID-19 Pandemic: What Employers Need to Know.

COVID-19 Alerts

Force Majeure and COVID-19: Illinois Bankruptcy Court Rules That Force Majeure Provision Partially Excuses Rent Payments

Maryland Enters Stage Two of Reopening Plan, Lifting Restrictions for Nonessential Businesses, Subject to Local Orders

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 Article 

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

 

Troutman Pepper Officially Launches - Law Firm One of 50 Largest in U.S., Expanded Practices and Broader Reach to Benefit Client

NEW YORK — Troutman Sanders and Pepper Hamilton officially became Troutman Pepper (Troutman Pepper Hamilton Sanders LLP) today, a national law firm with 1,100 attorneys in 23 U.S. cities. The new firm offers clients greater resources and bench strength, enhanced practices, and expanded geographical reach.

Troutman Pepper is one of the 50 largest law firms in the country, with offices in eight of the 10 largest U.S. markets. The firm supports some of the country’s biggest industry sectors, including health sciences, energy, real estate, insurance, finance, private equity, construction, and technology. 

The new firm is led by Steve Lewis, Chair and Chief Executive Officer.

“The mission of our firm is a higher commitment to client care,” Lewis said. “We will surpass what clients expect or appreciate, focusing on what they value. Our expanded capabilities and bigger footprint will allow us to deliver a new level of service to our clients.”

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.

Paycheck Protection Program and strategies for forgiveness: Your frequently asked questions

  • Questions about the Paycheck Protection Program? From certification to determining full-time employees to how benefits count toward the calculation of payroll costs, we’ve answered your burning questions.

COVID-19 legislation: Analysis of recent tax changes and what’s next

  • It’s been weeks since the last enactment of COVID-19-related tax legislation, so questions are being raised about what might be next. While it’s difficult to predict, an analysis of recent tax changes and a current bill in the House offer some insight.

Cybersecurity is not an option. Is your PEG protected?

  • A cybersecurity breach can be expensive and cause long-term reputational and brand damage to your private equity group. It can also derail M&A deals that are critical to your fund’s survival. Start your risk management program here.

Structuring transactions and tax planning in difficult times

  • Recent developments of the CARES Act may impact the way transactions should be structured. Plante Moran partnered with Katten Muchin Rosenman LLP to deliver this presentation to IVCA members to help explain its implications.

Virtual panel discussion: Operational considerations to drive liquidity

  • View our on-demand virtual panel discussion where experts from Plante Moran and private equity professionals from Aterian Investment Partners, Capital Partners and Huron Capital share their expertise and tactics that operators can deploy to drive liquidity.

COVID-19 impact on domestic middle-market mergers & acquisitions

  • In the midst of M&A chaos and disruption resulting from the COVID-19 pandemic, opportunities exist for market consolidation and distressed acquisitions. We partnered with Sherman & Howard’s Lyle Wallace to bring these opportunities to light.   

FAQ: Understanding the tax implications of the CARES Act on private equity

  • Private equity-owned businesses may be subject to special rules related to size and affiliation when it comes to qualifying for the CARES Act relief. Learn more in these FAQs from our recent webcast.

COVID-19 resource center

  • 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. Plante Moran has assembled a COVID-19 resource center to keep you updated with relevant economic analysis, crisis management guidelines, notices of changing regulations, and more to keep your business running as smoothly as possible amidst uncertainty and unprecedented disruption. 

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


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

ACG New York’s Weekly M&A News Round Up

Provided exclusively by Mergermarket

Mergermarket Proprietary Intelligence for the Tri-State Area

Blog

PEI

This Week’s Top Private Equity News

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

  1. Ardian closes largest ever secondaries fund
  2. FREE WEBINAR — ESG webinar: Staying Sustainable
  3. Direct vs Co-Investing; Pros and Cons
  4. KKR Spends Big and Fast to Avoid Mistakes of 2008 Crisis
  5. Private Equity Lands Billion-Dollar Backdoor Hospital Bailout
  6. I Will Get Very Serious About ESG - But Not Yet, Allocators Claim
  7. KKR, Cinven, Providence Bid for Spanish Carrier Masmovil
  8. Blackstone Dumps H2O as Adviser to $6 Billion Multistrategy Fund
  9. U.K.’s Largest Private Pension Fund to Exit Coal, Tobacco Firms
  10. lackRock Lures Asset Managers, Wealth Funds After PNC Exit

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

Large generalists have become enamored with the tech sector, with some debuting tech-focused funds while others are doubling down on the sector with increased investment. These massive generalist firms often have large networks and vast numbers of portfolio companies, which can provide a unique advantage as they compete with specialist tech funds for assets. A new wave of specialist tech firms is making a name for itself. These newer firms have come to prominence in the shadows of the big three (Vista, Thoma Bravo, and Silver Lake) and are poised to compete in the tech investment space as their fund sizes grow. The infosec subsector deserves attention from sector-focused managers. Infosec tends to be resilient during downturns, and vendors in the space often have sticky revenue bases. Furthermore, several private equity GPs are already making investments in the space.

For more, please download PitchBook’s PE Tech Funds II analyst note