Downturns and disputes go hand in hand

The potential for disputes are among the four ‘need-to-know’ issues in 2020; a couple of people moves.

Disputes: From Private Equity International’s Legal Special, we have this piece outlining the four need-to-know issues for 2020. One of them is the increased potential for GP-LP disputes should the economy go into a downturn. I’ve heard that one thing lawyers are keeping their eyes on is the potential for disagreements on carried interest clawbacks.

One disagreement in the headlines this morning comes from The New York Times (subscription), which has this story on Sycamore Partners trying to back out of a majority acquisition of Victoria’s Secret fro L Brands. But L Brands’ lawyers at Davis Polk & Wardwell specifically exempted a pandemic from acts of God that would have allowed Sycamore to walk away.

People moves: Connor Hussey brings us two quick people moves stories. Sidley Austin has tapped a competitor for two partners in its investment funds practice in NY, and global compliance services firm ACA Compliance has added two to its leadership team.

Email prepared by Graham Bippart