Connected With Latham

Market sentiment and the increasing importance of environmental, social, and governance (ESG) to firms' competitiveness across the market, combined with wide-ranging and rapidly developing ESG regulatory reforms, are driving increased focus on ESG at both LP and GP levels across Europe. As a result, the market is showing demand for enhanced diligence, and a wider range of deal provisions are being considered in light of their potential to enhance the ESG outlook of PE investments. In this episode of Connected With Latham, London private equity partner Tom Evans speaks with London associate Anne Mainwaring, who specializes in ESG financial services regulation. They discuss private equity firms' opportunities to move toward a more holistic approach to tackling ESG matters on transactions.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 1271 Avenue of the Americas, New York, NY 10020, Phone: 1.212.906.1200

After years of garnering little attention, environmental, social, and governance (ESG) matters are now top-of-mind for institutional investors – and are beginning to drive activist campaigns. What is behind this wave of ESG activism? And what can companies do to prepare for the possibility of an ESG-driven activist campaign? In this episode of Connected With Latham, we continue our Energy & Infrastructure series with a look at how company boards and management are navigating the choppy waters of ESG-related activism. Lauren Anderson, a private equity partner in Houston, speaks with Christopher Drewry, a Chicago partner and a leader in the firm's Activism Defense Practice, and Tiffany Campion, a Senior Attorney in Chicago who focuses on takeover defense and shareholder activism, about the trends they are seeing.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

In 2021, the outlines of emerging crypto legal and regulatory regimes became steadily clearer. In the US, new regulators brought a fresh perspective and new enthusiasm for investor protections, with parallel efforts gaining traction in Congress. Across the Atlantic, the European Commission adopted a digital finance package and will soon ratify the Regulation on Markets in Crypto-Assets (MiCA) framework. In this episode of Connected With Latham, Hong Kong partner Simon Hawkins, London partner Stuart Davis, and New York partners Yvette Valdez and Stephen Wink, Co-Chairs of the firm's Global Blockchain & Cryptocurrency Task Force, join together to review the legal and regulatory developments in crypto from 2021, and look ahead to the direction of travel in 2022.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

Global video game revenue in 2020 jumped by 20% to US$179.7 billion, making the sector larger than the film and North American sports industries combined. And this uptick in gaming is no temporary spike; market forecasts project 10.2% annual growth through 2025. Venture capital firms have enjoyed success in the video game space, which is likely to generate a pipeline of acquisition opportunities for private equity buyers. In this episode of Connected With Latham, London private equity partner Tom Evans speaks with Bay Area M&A partner Greg Roussel about what private equity firms should consider when getting into the gaming space.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

The sixth annual Hong Kong and Singapore fintech events, both held in November 2021, revealed key new initiatives, regulatory developments, and market trends that will play out in 2022 and beyond. In Singapore, the Monetary Authority (MAS) released its initial assessment of the economic case for launching a retail central bank digital currency (CBDC), while in Hong Kong, the Monetary Authority issued a technical whitepaper on creating its own CBDC. The regulators also laid out steps to encourage fintech innovation and refine crypto regulations. The interaction between ESG and the fintech also emerged as a key theme. In this episode of Connected With Latham, Simon Hawkins, Hong Kong partner and Co-Chair of the firm's Global Blockchain and Digital Assets Task Force, joins Singapore partner Farhana Sharmeen to review key developments and discuss the outlook for 2022.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

Raising fresh capital for portfolio companies in times of financial stress is always a delicate balancing act between attracting new lenders and maintaining the strategic support of existing creditors. The almost instantaneous halt in cash flows and scramble for new capital injections precipitated by the COVID-19 pandemic has significantly changed traditional approaches to collateral — giving rise to new financing opportunities for sponsor-backed deals and businesses. Regardless of debt market buoyancy, these new financing techniques are here to stay, having demonstrated value in overcoming creditor skepticism during times of economic uncertainty and bringing a new way to increase leverage. In this episode of Connected With Latham, London private equity partner Tom Evans speaks with London capital markets partner Francesco Lione about this shift in the debt finance markets and how PE dealmakers can work with legal counsel to take advantage of the opportunities these creative structures present.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

The UK has now seen several public listings with dual class share structures, including most the £5.4 billion IPO of The Hut Group, which had a "special" share for the founder. With the UK government keen to increase the marketability of UK listings following Brexit, we anticipate that US dual class deal architecture is likely to be featured on a growing number of London listings — a development that could benefit PE firms and founder managers seeking to retain a greater governance role post-IPO. In this episode of Connected With Latham, London private equity partner Tom Evans speaks with London capital markets partner Chris Horton about the opportunities this trend may present to private equity participants active in the UK.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

Emerging companies have historically been backed by venture capital funds, but as Europe's startup scene matures, involvement by more traditional private equity investors is growing, particularly in the tech, consumer, and digital health sectors. Recent PE investments in emerging companies include stakes in Wolt, Moonbug Entertainment, Zwift, Klarna, Epic Games, and Oatly demonstrating the range of opportunities available to PE sponsors in this space. While PE investors are increasingly familiar with VC deal dynamics, they are also pushing to align growth-deal terms more closely with traditional buyout concepts. In this episode of Connected With Latham, London private equity partner Tom Evans speaks with London emerging companies partner Mike Turner about what PE investors can expect when pursuing growth equity investments, from board representation to exit.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

As global businesses react to the pandemic and social movements, private equity firms should remain watchful for whistleblowing issues involving both portfolio and target companies. There is now simply more to blow the whistle on, from workplace health and safety issues and misuse of government furlough schemes, to racial equity and sexual harassment concerns. How can PE firms and their portfolio companies mitigate such risk? In this episode of Connected With Latham, London private equity partner Tom Evans speaks with Sarah Gadd, an Executive Compensation, Employment & Benefits partner in London, about how firms and their companies can maintain compliant environments and take the proper precautions to reduce the odds of whistleblowing claims — saving firms time and cost, while reducing the risk of reputational damage.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200

As commodity prices recover from pandemic lows, deal activity in the oil and gas sector is heating up across Europe. A number of factors are contributing to this deal-friendly environment, most notably the acceleration of the transition to renewable and low-carbon energy and the appetite for such changes in the capital markets. European majors are diversifying rapidly and looking to combine; meanwhile, US majors are surveying the market in Europe. Across the industry, companies continue to search for ways to reduce the carbon intensity of their operations. All of this creates scope for more and larger mergers. In this episode of Connected With Latham, we continue our Energy & Infrastructure series with a look at the oil and gas industry in Europe and how the focus on energy transition is impacting our traditional oil and gas clients and their organizations. Lauren Anderson, a private equity partner in Houston, speaks with London partners Simon Tysoe and Sam Newhouse and London counsel Evelyne Girio about the evolution of the industry.

This podcast is provided as a service of Latham & Watkins LLP. Listening to this podcast does not create an attorney client relationship between you and Latham & Watkins LLP, and you should not send confidential information to Latham & Watkins LLP. While we make every effort to assure that the content of this podcast is accurate, comprehensive, and current, we do not warrant or guarantee any of those things and you may not rely on this podcast as a substitute for legal research and/or consulting a qualified attorney. Listening to this podcast is not a substitute for engaging a lawyer to advise on your individual needs. Should you require legal advice on the issues covered in this podcast, please consult a qualified attorney. Under New York's Code of Professional Responsibility, portions of this communication contain attorney advertising. Prior results do not guarantee a similar outcome. Results depend upon a variety of factors unique to each representation. Please direct all inquiries regarding the conduct of Latham and Watkins attorneys under New York's Disciplinary Rules to Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022-4834, Phone: 1.212.906.1200