Paul Hastings Continues Leveraged Finance Expansion with Addition of Another Prominent Partner

Paul Hastings LLP, a leading global law firm, announced today that Michael Baker has joined the Leveraged Finance practice in New York. Mr. Baker, previously with Shearman & Sterling LLP, is a prominent leveraged finance lawyer with extensive bank lending experience. His arrival follows the addition of leveraged finance partners Michael Michetti and Rich Farley, who joined in July and June, respectively.

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Tags:  Paul Hastings, LLP | New York

Proskauer – American Realty Capital REIT Seeks to Raise $1.5 Billion

Proskauer assisted with the formation of American Realty Capital Daily Net Asset Trust, Inc. (ARC NAV), a non-traded real estate investment trust that could raise up to $1.5 billion through a best efforts offering. The firm represented ARC NAV in obtaining effectiveness with the U.S. Securities and Exchange Commission, and will continue to serve as counsel during the REIT’s offering period, which became effective on August 15.

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Tags:  Proskauer Rose LLP

O’Melveny Represents Valedo II in SEK 2 Billion Fund Closing

O’Melveny & Myers LLP represented Valedo Partners Fund II (Valedo II) in its July 22, 2011, fund closing with committed capital of SEK 2 billion (approx. US$311 million).  Valedo II, a Swedish private limited liability company, reached its target size of SEK 2 billion on a single closing and is the successor to Valedo I, which was raised in 2006 and 2007, with committed capital of SEK 1 billion (approx. US$155 million).

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Tags:  O'Melveny & Myers, LLP

Life Sciences Team Joins Michael Best

Michael Best & Friedrich LLP has added a team of six life sciences attorneys and other professionals to its Chicago office, bolstering the firm’s already robust Life Sciences Practice. The group, formerly with the law firm of Polsinelli Shughart in Chicago, is made up of two partners (Lisa Mueller and Paul Jenny), two associates (Todd Hofmeister, Ph.D., and Joseph Pletcher, Ph.D.), a paralegal (Janelle Wiggins), and a legal assistant (Laura Czech). All are joining the firm effective immediately.

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Tags:  Michael Best & Friedrich LLP

Shearman & Sterling Advises DOE on Loan Guarantee to SoloPower

Shearman & Sterling advised the United States Department of Energy (DOE) in connection with the issuance of a $197 million loan guarantee to SoloPower, Inc. in support of the construction and operation of state-of-the-art thin-film solar module manufacturing facilities at two sites in Portland, Oregon and an existing site in San Jose, California.

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Tags:  Shearman & Sterling LLP

Jenner & Block Represents General Dynamics in Acquisition of Leading Healthcare IT Provider

Jenner & Block recently represented General Dynamics Corporation in its entry into a definitive agreement to acquire Vangent Holding Corp., in a cash transaction valued at approximately $960 million.  The acquisition is expected to close by the beginning of October 2011.  Vangent Holding Corp. is the parent company of Vangent, Inc., a leading provider of healthcare information technology and business systems to federal agencies, including the U.S. Departments of Health and Human Services, Education, Labor, State and Defense.

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Tags:  Jenner & Block, LLP

$516.7 Million Judgment Entered in Morgan Lewis Victory for Asahi

Today, California Superior Court Judge Marie S. Weiner (San Mateo County) entered a $516.7 million judgment in favor of Asahi Kasei Pharma Corp. in the case Asahi Kasei Pharma Corp. v. Actelion Ltd., et al., bringing to a close the trial in Asahi’s state-court lawsuit against Swiss drug maker Actelion and various of its executives and subsidiaries. Asahi’s trial team was led by Morgan Lewis San Francisco partners Christopher Banks, Rollin Chippey, II, and Benjamin Smith, and associate Tera Heintz. New York partner Alan Neuwirth is responsible for the firm’s long-term relationship with Asahi Kasei.

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Tags:  Morgan, Lewis & Bockius LLP | Los Angeles