Tracking litigation, enforcement actions, and legal filings across the private equity industry
Published by GP Stakes, the private markets intelligence platform
Legal risk is an often overlooked dimension of private equity due diligence. Litigation outcomes can materially impact fund economics, manager reputation, and investor relationships. This monitor tracks 1,045 legal filings involving 43 private equity and fund management firms, providing a structured view of the legal landscape facing the industry.
The filing database covers a range of case types including SEC enforcement actions, contract disputes, antitrust matters, labor and employment claims, intellectual property disputes, and bankruptcy proceedings. Each filing is linked to the relevant firm where identifiable, enabling firm-level risk assessment.
For GP stakes investors, legal risk monitoring is a critical component of pre-transaction due diligence and ongoing portfolio monitoring. Active litigation can create contingent liabilities, distract management attention, and damage fundraising prospects. Conversely, a clean legal record provides comfort about governance quality and operational discipline. Regular monitoring helps identify emerging risks before they become material to GP valuations.
SEC enforcement actions deserve particular attention, as they often signal systemic compliance failures that can result in fines, operational restrictions, and reputational damage. The frequency and nature of enforcement actions against private fund managers has increased in recent years as the SEC has expanded its examination program and enforcement priorities for the private markets sector.
| Case Type | Filings | Firms Involved | Latest Filing |
|---|---|---|---|
| other | 502 | 39 | 2026-02-13 |
| opinion | 274 | 39 | 2026-02-27 |
| bankruptcy | 216 | 36 | 2026-02-12 |
| labor_employment | 17 | 5 | 2025-10-15 |
| sec_enforcement | 15 | 13 | 2025-06-05 |
| contract | 9 | 5 | 2025-09-26 |
| ip | 6 | 5 | 2025-06-25 |
| antitrust | 6 | 6 | 2025-01-14 |
| Year | Filings | Firms Involved |
|---|---|---|
| 2026 | 9 | 7 |
| 2025 | 55 | 27 |
| 2024 | 94 | 28 |
| 2023 | 77 | 31 |
| 2022 | 48 | 26 |
| 2021 | 60 | 27 |
| 2020 | 51 | 28 |
| 2019 | 73 | 31 |
| 2018 | 51 | 26 |
| 2017 | 48 | 19 |
| 2016 | 40 | 22 |
| 2015 | 69 | 28 |
| 2014 | 49 | 25 |
| 2013 | 36 | 21 |
| 2012 | 31 | 22 |
| 2011 | 32 | 21 |
| 2010 | 24 | 17 |
| 2009 | 18 | 13 |
| 2008 | 19 | 15 |
| 2007 | 13 | 11 |
| 2006 | 21 | 14 |
| 2005 | 15 | 10 |
| 2004 | 14 | 10 |
| 2003 | 14 | 9 |
| 2002 | 9 | 7 |
| 2001 | 6 | 6 |
| 2000 | 7 | 6 |
| 1999 | 6 | 5 |
| 1998 | 5 | 3 |
| 1997 | 3 | 3 |
| 1996 | 6 | 6 |
| 1995 | 4 | 4 |
| 1994 | 4 | 4 |
| 1993 | 7 | 5 |
| 1992 | 3 | 3 |
| 1991 | 1 | 1 |
| 1990 | 3 | 3 |
| 1989 | 4 | 3 |
| 1987 | 1 | 1 |
| 1985 | 2 | 2 |
| 1984 | 1 | 1 |
| 1982 | 1 | 1 |
| 1980 | 1 | 1 |
| 1974 | 1 | 1 |
| 1961 | 1 | 1 |
| 1951 | 1 | 1 |
| 1949 | 1 | 1 |
| 1903 | 1 | 1 |
| Firm | Filings | Case Types | Latest Filing |
|---|---|---|---|
| Acacia | 31 | bankruptcy, opinion | 2025-05-15 |
| Silver Lake | 31 | bankruptcy, opinion, other | 2026-01-28 |
| Francisco Partners | 31 | ip, opinion, other | 2026-02-27 |
| CVC Capital | 31 | bankruptcy, opinion, other | 2026-02-11 |
| Clayton Dubilier | 31 | bankruptcy, opinion, other, sec_enforcement | 2026-02-13 |
| Welsh Carson | 30 | bankruptcy, labor_employment, opinion, other | 2025-01-09 |
| Advent International | 30 | bankruptcy, opinion, other | 2025-01-10 |
| Apollo Global | 30 | bankruptcy, ip, opinion, other, sec_enforcement | 2026-01-29 |
| Ardian | 30 | bankruptcy, opinion, other, sec_enforcement | 2025-02-18 |
| Ares Management | 30 | bankruptcy, opinion, other, sec_enforcement | 2025-11-25 |
| Blackstone | 30 | bankruptcy, opinion, other | 2024-06-20 |
| Brookfield Asset | 30 | opinion, other, sec_enforcement | 2025-06-25 |
| Carlyle Group | 30 | bankruptcy, opinion, other | 2025-11-05 |
| KKR | 30 | antitrust, bankruptcy, opinion, other, sec_enforcement | 2025-07-22 |
| Leonard Green | 30 | bankruptcy, opinion, other | 2024-04-04 |
| Platinum Equity | 30 | bankruptcy, labor_employment, opinion, other, sec_enforcement | 2025-04-29 |
| Thoma Bravo | 30 | antitrust, opinion, other, sec_enforcement | 2024-12-09 |
| TPG Capital | 30 | bankruptcy, opinion, other, sec_enforcement | 2024-08-16 |
| Vista Equity | 30 | opinion, other, sec_enforcement | 2025-06-05 |
| Warburg Pincus | 29 | bankruptcy, contract, opinion, other | 2025-12-09 |
| Bain Capital | 29 | bankruptcy, opinion, other | 2022-08-29 |
| General Atlantic | 28 | bankruptcy, opinion, other | 2023-11-07 |
| Permira | 28 | antitrust, bankruptcy, opinion, other, sec_enforcement | 2025-04-11 |
| Insight Partners | 26 | bankruptcy, contract, opinion, other | 2025-10-16 |
| BC Partners | 25 | bankruptcy, opinion, other, sec_enforcement | 2024-03-07 |
| Court | Filings |
|---|---|
| District Court, S.D. New York | 99 |
| United States Bankruptcy Court, D. Delaware | 55 |
| District Court, C.D. California | 53 |
| Court of Chancery of Delaware | 53 |
| District Court, N.D. California | 44 |
| District Court, D. Massachusetts | 36 |
| Appellate Division of the Supreme Court of the State of New York | 35 |
| United States Bankruptcy Court, S.D. New York | 26 |
| District Court, D. Delaware | 26 |
| District Court, M.D. Tennessee | 24 |
| District Court, E.D. Pennsylvania | 23 |
| District Court, District of Columbia | 18 |
| District Court, S.D. Florida | 17 |
| District Court, N.D. Illinois | 16 |
| District Court, M.D. Florida | 15 |
| Case | Court | Type | Date | Firm | Description |
|---|---|---|---|---|---|
| In re EngageSmart, Inc. Stockholder Litigation | Court of Chancery of Delaware | opinion | 2026-02-27 | Francisco Partners | IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE IN RE ENGAGESMART, INC. ) C.A. No. 2023-1093-JTL STOCKHOLDER LITIGATION ) OPINION R |
| In re: Cross-Holder Ad Hoc Group | Court of Appeals for the Third Circuit | other | 2026-02-13 | Clayton Dubilier | ECF FILER: DISCLOSURE STATEMENT on behalf of CD&R Labels Holdings, L.P. Arawak XI, L.P. Arawak XI-A, L.P. CD&R Investment Associates XI, Ltd. Clayton, Dubilier & Rice Fund XI (Credit Investor), Ltd.. |
| AFG Latam Sim Holdings III, LLC | United States Bankruptcy Court, D. Delaware | bankruptcy | 2026-02-12 | EQT Partners | Chapter 11 Voluntary Petition . Fee Amount $1738. Filed by AFG Latam Sim Holdings III, LLC. (Attachments: # 1 Certification and Creditor Matrix) (Caloway, Mary) (Entered: 02/12/2026) |
| Avenger Flight Group Mexico II, S. DE R.L. DE C.V. | United States Bankruptcy Court, D. Delaware | bankruptcy | 2026-02-12 | EQT Partners | Chapter 11 Voluntary Petition . Fee Amount $1738. Filed by Avenger Flight Group Mexico II, S. DE R.L. DE C.V.. (Attachments: # 1 Certification and Creditor Matrix) (Caloway, Mary) (Entered: 02/12/2026 |
| Lorna Vollmuth v. Dream Games Teknologi Anonim Sirketi | District Court, W.D. Washington | other | 2026-02-11 | CVC Capital | Supplemental NOTICE of Interested Parties filed by Defendant Dream Games Teknologi Anonim Sirketi, identifying Diana Investments Lux S. r.l., Parent and CVC Capital Partners IX Limited, Indirect Paren |
| Multi-Color Corporation | United States Bankruptcy Court, D. New Jersey | bankruptcy | 2026-01-29 | Clayton Dubilier | Document re: / Declaration of Status as a Substantial Shareholder (Clayton Dubilier Rice Fund XI (Scotland) L.P.) (related document:92 Order (Generic)) filed by Eric S. Chafetz on behalf of Clayton Du |
| Milne Travel Agency, Inc. v. Altour Del., LLC | Appellate Division of the Supreme Court of the State of New York | opinion | 2026-01-29 | Apollo Global | Milne Travel Agency, Inc. v Altour Del., LLC (2026 NY Slip Op 00426) Milne Travel Agency, Inc. v Altour Del., LLC 2026 NY Slip Op 00426 Decided on January 29, 2026 Appellate Division, First |
| Nelson v. Silver Lake Water and Sewer District | District Court, W.D. Washington | other | 2026-01-28 | Silver Lake | |
| Formation Creative Group LLC | United States Bankruptcy Court, N.D. California | bankruptcy | 2026-01-16 | 1WorldSync | Chapter 7 Voluntary Petition for Non-Individuals. Fee Amount $338. Filed by Formation Creative Group LLC. Incomplete Filings due by 01/30/2026. Order Meeting of Creditors due by 01/30/2026. (Harris, R |
| Formation Creative Group LLC | United States Bankruptcy Court, N.D. California | bankruptcy | 2025-12-31 | 1WorldSync | Order and Notice of Dismissal for Failure to Comply (RE: related document(s)3 Order to File Missing Documents). Case Management Action due after 1/29/2026. (lj) (Entered: 01/15/2026) | BNC Certificate |
| HKA Global, LLC v. Christopher Beirise | Court of Chancery of Delaware | opinion | 2025-12-16 | PAI Partners | IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE HKA GLOBAL, LLC, Plaintiff, v. C.A. No. 2024-0910-LWW CHRISTOPHER BEIRISE, HANSELL PASCO, T |
| Faiz Khan v. Warburg Pincus, LLC | Supreme Court of Delaware | opinion | 2025-12-09 | Warburg Pincus | IN THE SUPREME COURT OF THE STATE OF DELAWARE FAIZ KHAN and RALPH FINGER, § on behalf of themselves and all § others similarly situated, § § No. 236, 2025 |
| Optimum Communications, Inc. v. Apollo Capital Management, L.P. | District Court, S.D. New York | other | 2025-11-25 | Ares Management | RULE 7.1 CORPORATE DISCLOSURE STATEMENT. Identifying Corporate Parent Ares Management Corporation, Corporate Parent Ares Management Holdings L.P. for Ares Management LLC. Document filed by Ares Manage |
| Johnson v. Clayton, Dubilier & Rice Fund X, L.P. | District Court, E.D. Pennsylvania | other | 2025-11-19 | Clayton Dubilier | COMPLAINT against CD&R, LLC, Clayton, Dubilier & Rice Fund X, L.P. ( Filing fee $ 405 receipt number APAEDC-18753557.), filed by Todd Johnson. (Attachments: # 1 Civil Cover Sheet Civil Cover Sheet, # |
| Manti Holdings, LLC v. The Carlyle Group Inc. | Supreme Court of Delaware | opinion | 2025-11-05 | Carlyle Group | IN THE SUPREME COURT OF THE STATE OF DELAWARE MANTI HOLDINGS, LLC, MALONE § MITCHELL, WINN INTERESTS, § No. 112, 2025 LTD., EQUINOX I. A TX, GREG § PIPKI |
| McDonald v. Nexus Cognitive Technologies LLC | District Court, S.D. New York | other | 2025-10-16 | Insight Partners | ELECTRONIC SUMMONS ISSUED as to Insight Partners LLC, Nexus Cognitive Technologies LLC..(pc) (Entered: 10/17/2025) | COMPLAINT against Insight Partners LLC, Nexus Cognitive Technologies LLC. (Filing F |
| 16161782 Canada Inc. v. Mogylnyy | District Court, S.D. New York | labor_employment | 2025-10-15 | EQT Partners | EMERGENCY MOTION for Temporary Restraining Order . Document filed by 16161782 CANADA INC.. (Attachments: # 1 Affidavit Declaration of Farzana Yusufali, # 2 Affidavit Declaration of Craig D'Souza, # 3 |
| Lagosz v. Insight Partners LLC | District Court, S.D. New York | contract | 2025-09-26 | Insight Partners | ELECTRONIC SUMMONS ISSUED as to Insight Partners LLC. (sj) (Entered: 09/30/2025) | REQUEST FOR ISSUANCE OF SUMMONS as to Insight Partners, LLC, re: 1 Complaint. Document filed by Adam Lagosz..(Joseph, |
| Firstbank v. Harthman | Supreme Court of The Virgin Islands | opinion | 2025-08-29 | Insight Partners | For Publication IN THE SUPREME COURT OF THE VIRGIN ISLANDS FIRSTBANK PUERTO RICO ) S. Ct. Civ. No. 2021-0026 Appellant/Plaintiff, |
| AAREON DENIER SMITH | United States Bankruptcy Court, D. Nevada | bankruptcy | 2025-08-22 | Aareon | |
| Bear's Fruit LLC | United States Bankruptcy Court, E.D. New York | bankruptcy | 2025-08-15 | 1WorldSync | Chapter 11 Voluntary Petition for Small Business Non-Individual Subchapter V. Fee Amount $ 1738. Filed by Robert L Rattet on behalf of Bear's Fruit LLC Chapter 11 Subchapter V Plan Due by 11/13/2025. |
| Fernandez v. KKR & Co. Inc. | District Court, S.D. New York | other | 2025-07-22 | KKR | ORDER: On August 21, 2025, Defendants filed a motion to dismiss the complaint filed by pro se Plaintiff Keith Fernandez. (See ECF 14, Mot. To Dismiss.) Plaintiff's opposition to the motion to di |
| United States v. Strong | District Court, C.D. California | other | 2025-07-07 | ACAMS | COMPLAINT filed as to Defendant Robert Gene Strong in violation of 18:111(a)(1). Approved by Magistrate Judge Pedro V. Castillo as to Robert Gene Strong (1). (mhe) (Entered: 07/07/2025) |
| Nicole Reisberg v. Renaissance Learning, Inc. | District Court, C.D. California | other | 2025-06-26 | Francisco Partners | NOTICE of Interested Parties filed by Defendant Renaissance Learning, Inc., identifying Renaissance Holding Corp., Blackstone Inc., Francisco Partners Management, L.P., Coalition, Inc., AXA, AIG and E |
| In Re: Brookfield Asset Management, Ltd. | District Court, S.D. New York | other | 2025-06-25 | Brookfield Asset | RULE 7.1 CORPORATE DISCLOSURE STATEMENT. Identifying Corporate Parent Brookfield Corporation for Brookfield Asset Management, Ltd.. Document filed by Brookfield Asset Management, Ltd...(Hille, David) |
Legal filing data is compiled from public court records (PACER/ECF), SEC EDGAR enforcement database, and state court systems. Firm attribution is performed through name matching and manual verification. Case type classifications follow standard legal taxonomy. The database is updated periodically and may not capture all filings in real time. Description text is truncated for display purposes; full case details are available in the underlying court records.
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Last updated: 2 March 2026