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ARTICLE · 23 JANUARY 2025

What Private Equity Sponsors Need To Know About Trump's Second Term

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Donald Trump's first term as president was characterized by, among other things, efforts to reduce governmental regulation, build a wall along the U.S.-Mexico border...

GlobalCorporate/Commercial Law
Sean Foley
Sean Foley
Stefan Stauder
Stefan Stauder
Meghan McKeever
Meghan McKeever
Christopher Caparelli
Christopher Caparelli
Nicolas Glaudemans
Nicolas Glaudemans
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Donald Trump's first term as president was characterized by, among other things, efforts to reduce governmental regulation, build a wall along the U.S.-Mexico border, and protect U.S. trade. As the U.S. prepares for a second Trump Administration, we examine potential policy shifts and their impact on private equity dealmaking in 2025 and beyond.

Changes expected for U.S. antitrust policy

Over the last four years, the Biden Administration has aggressively promoted competition and enforced U.S. antitrust laws, spearheaded by progressives Lina Khan, Chair of the Federal Trade Commission (FTC), and Jonathan Kanter, Chief of the Antitrust Division of the Department of Justice (DOJ). With this in mind, we observed before November's election that President Trump is likely to pivot from Biden's approach to antitrust enforcement, if only because his appointees to the FTC and the DOJ would undoubtedly bring a distinct worldview from those currently in charge. Now, as

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