Regulatory

Foreign Direct Investment

Foreign Direct Investments

Overview

Under the Trump Administration, CFIUS has taken on a central role in U.S. economic strategy with significant implications for all foreign investors and especially those from certain jurisdictions and/or those who seek to invest in specific sectors (such as emerging technologies).

Gibson Dunn specializes in successfully managing politically and economically sensitive cases.  The firm’s CFIUS engagements are led by highly experienced and widely respected practitioners in the field with decades of private sector CFIUS experience as well as key experience in U.S. government and industry roles.  The team has successfully led hundreds of CFIUS reviews and negotiated dozens of complex national security agreements.

Our CFIUS practitioners work closely with Gibson Dunn’s National Security, and Privacy, Cybersecurity, and Data Innovation practices, leveraging our expertise and experience in these areas when advising clients on their national security risk analyses and reviews before CFIUS.  Our team provides strategic and legal advice to U.S. and international client companies, investment funds, and investors operating or investing across international borders.

We closely track legislative and regulatory developments, and our Gibson Dunn team maintains close relationships with policymakers that helps inform our ability to provide strategic recommendations.

The Gibson Dunn lawyers throughout the world are also amongst the most experienced practitioners managing investment reviews in other jurisdictions including in the European Union, the United Kingdom and elsewhere.

Experience

Recent representations include:

  • Representation of leading provider of embedded software solutions in connection with obtaining CFIUS and DCSA regulatory approval for the sale of its ISS division to a private equity entity partially owned by a sovereign wealth fund. ISS delivers end-to-end, layered, embedded security solutions to protect intelligent devices and their supply chains.
  • Providing leading energy production and distribution company with advice regarding potential business combination with a U.S. energy company.
  • Representation of a global alternative investment firm in connection with obtaining CFIUS regulatory approval for its 50% acquisition of a private equity firm’s infrastructure business, which has existing investments in transportation, logistics, and associated subsectors, including terminals in the John F. Kennedy International Airport and LaGuardia Airport. This transaction cleared the CFIUS review process during the first 45-day review period with no mitigation measures imposed.
  • Representation of a leading sovereign wealth fund in connection with obtaining CFIUS regulatory approval for a $1 billion co-investment in a diversified global asset and wealth management company, including successfully navigating negotiation and implementation of a data-focused national security mitigation agreement.
  • Representation of a leading renewable energy developer in connection with obtaining CFIUS regulatory approval for the sale of its wind and solar portfolio to EDPR. CFIUS approved the transaction without imposing any mitigation measures.
  • Advising an independent game studio in responding to a CFIUS Non-Notification Information Request in connection with a prior investment by a foreign person.
  • Advising an independent game studio in responding to a CFIUS Non-Notification Information Request in connection with a prior investment by a foreign person.