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.
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
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
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.
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
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
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
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.
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.
CohnReznick has assembled a national task force to help you file for SBA’s low-interest federal disaster loans. Contact.
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.
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.
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:
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: email@example.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
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 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.
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:
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:
ACG New York’s Weekly M&A News Round Up
Provided exclusively by Mergermarket
Mergermarket Proprietary Intelligence for the Tri-State Area
This Week’s Top Private Equity News
Here are this week's biggest news in the private equity and venture capital markets.
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
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.