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White & Case LLP

Italy leads Europe’s high yield market

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Italy’s high yield bond market thrived during the first half of the year, delivering a double-digit year-on-year increase in issuance, and standing in stark contrast to the broader market slowdown observed in Europe....more

Knobbe Martens

Firefly Aerospace Soars in $6.3 Billion IPO as Space Tech Investment Accelerates

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Firefly Aerospace, Inc. (NASDAQ: FLY) completed one of 2025’s largest space technology initial public offerings (IPO) on August 7, 2025. Firefly priced its shares at $45 and closed its first day up more than 30% at $60.35,...more

Morrison & Foerster LLP

SEC Permits In-Kind Creations and Redemptions for Crypto ETPs

On July 29, 2025, the Securities and Exchange Commission (SEC) signaled a significant policy shift, approving orders that permit in-kind creations and redemptions for crypto asset exchange-traded products (ETPs). This marks a...more

Mintz - Energy & Sustainability Viewpoints

Sustainable Energy & Infrastructure Client Feature — August 2025

This month, we’re pleased to feature our client, The Metals Company (TMC). TMC is a leading explorer of the world’s largest undeveloped resource of critical metals essential to energy, defense, manufacturing, and...more

A&O Shearman

FCA publishes final rules for firms operating public offer platforms

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The UK Financial Conduct Authority (FCA) has published final policy statement PS25/10, setting out the final rules for the new public offer platforms (POP) regime. This follows consultations in July 2024 and January of this...more

Troutman Pepper Locke

A New Brand of Uncertainty? — PE Pathways Podcast

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Partner Jeremy Levy hosted the first live recording of PE Pathways at Troutman Pepper Locke's third annual Private Equity Perspectives Summit, held this year in Kohler, WI. Jeremy was joined by Troutman Pepper Locke Partner...more

A&O Shearman

FCA plans to modernise client categorisation rules

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The UK Financial Conduct Authority has announced plans to review its client categorisation rules to unlock more investment opportunities for wealthy investors and support capital markets...more

Orrick, Herrington & Sutcliffe LLP

From Federal to State: Building the New Life Sciences Capital Stack | Life Sciences Snapshot – Q3 2025

This year, U.S. VC funding into the life sciences sector has cooled: Q1 softness was followed by a decade low in VC transactions in Q2. Despite the moderation in dealmaking volume, investors continued to deploy sizable...more

DLA Piper

Private Credit Market Trends: Insights From the Debtwire Private Credit Forum

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Several members of DLA Piper’s Private Credit team recently attended the Debtwire Private Credit Forum, which brought together industry participants for in-depth discussions concerning the current landscape and future trends...more

A&O Shearman

Preferred and structured equity investments in the spotlight amid uncertain markets

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Preferred equity investing is on the rise amid a search for yield and a fall in the number of high-quality assets coming to market. Here we explore the growing appeal of preferred equity instruments, outline the terms that...more

Fenwick & West LLP

Q1 2025 Venture Snapshot: Selectivity Over Scale

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After a cautiously optimistic close to 2024, Q1 2025 brought a measured pullback in venture activity. Rather than a dramatic downturn, the market saw a strategic recalibration....more

A&O Shearman

Global trends in private markets: Spotlight on the Middle East 2025

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The global private markets landscape is undergoing a profound transformation, marked by rapid growth, heightened competition, and a wave of innovation that is reshaping investment strategies and fund structures. Private...more

Troutman Pepper Locke

SEC Considers Changes to Definition of Foreign Private Issuer

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On June 4, 2025, the U.S. Securities and Exchange Commission (SEC) published a concept release soliciting public comment on the definition of a foreign private issuer (FPI) and whether changes are needed to reflect the...more

Mayer Brown Free Writings + Perspectives

Capital Formation Related Legislation Advances

In late May 2025, the House Committee on Financial Services (the “Committee”) held a full committee markup, during which the Committee successfully reported 25 bills to the House of Representatives (the “House”). The bills...more

Cozen O'Connor

SEC Invites Feedback to Foreign Private Issuer Eligibility Rules

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On June 4, 2025, the U.S. Securities and Exchange Commission (SEC) issued a Concept Release, seeking public feedback on whether the nearly half-a-century-old definition of foreign private issuer (FPI) and the reporting...more

Conyers

Norway Bulletin 2025

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We are pleased to present the Conyers Norway Bulletin for 2025. This edition highlights key developments impacting Bermuda-incorporated companies in the Norwegian market over the past year. The Euronext Oslo Børs...more

Cooley LLP

Nine Lessons Learned From a Decade of Reg A Offering Stats

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Recently, the SEC released a trio of reports from the Division of Economic and Risk Analysis (DERA) that provide a host of stats about Regulation A and Regulation Crowdfunding offerings, as well as beneficial ownership of...more

Ropes & Gray LLP

SuperReturn International 2025: Four Key Takeaways

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Ropes & Gray attended the SuperReturn International conference in Berlin last week, which attracted over 5,500 decision makers from the private markets industry who came together to share their outlook for 2025 and beyond....more

Orrick, Herrington & Sutcliffe LLP

PISCES: Hook, Line and Secondary Market

The Financial Conduct Authority (FCA) is aiming to bridge private and public markets with the Private Intermittent Securities and Capital Exchange System (PISCES). Only shares in unlisted UK-incorporated companies will be...more

McDermott Will & Schulte

Turbo-Zertifikate im Visier – BaFin plant neue Produktintervention

The Federal Financial Supervisory Authority has announced that it intends to restrict trading in so-called "turbo certificates", i.e. MiFID bonds that leverage the performance of an underlying asset and expire immediately...more

StoneTurn

Advance in Africa: Investment, Innovation & Growth Trends

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Africa is undergoing a transformation, driven by technological innovation, cultural influence, and new investment opportunities. With a young and tech-savvy population, the continent is rapidly emerging as a global economic...more

Williams Mullen

PODCAST: Williams Mullen's Raising Capital 101: A Securities Podcast - What are the Different Ways Securities Can Be Offered and...

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On this episode of Raising Capital 101, Tom Voekler is joined by colleague Rhys James in this two-part series to discuss the different ways securities can be offered and sold, as well as direct to investor programs and crowd...more

DarrowEverett LLP

Don’t Go Chasing Simple Waterfalls: Understanding Investment Return Structures

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Waterfalls in private equity and venture capital dictate how investment returns are distributed among stakeholders. These structures determine who gets paid, in what order, and under what conditions. While all waterfalls aim...more

Mayer Brown

Convertible Bonds: An Issuer’s Guide (2025)

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Introduction - Convertible bonds are, customarily, fixed rate debt instruments issued by a company (the “issuer”), the terms of which allow the holders of the bonds to convert them into ordinary shares (common stock) of...more

White & Case LLP

European IPO markets rally with a focus on sustaining long-term growth

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Although European IPO markets still trail pre-pandemic levels, they began an upward trajectory in 2024, with an encouraging pipeline of new IPO candidates lined up for 2025. Regulators, issuers and investors are not resting...more

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