Our lawyers ensure secondaries transactions and fundraisings are swift and efficient
Our international secondaries team has been at the forefront of the secondaries market since its inception, and we have acted as legal counsel on many of the largest and most complex secondary funds and secondary transactions in recent years, including the recent sale of portfolios of investment fund and co-investments by a number of financial institutions.
Our secondaries team is a fully integrated part of our market-leading fund formation team. All of our fund lawyers are very familiar with fund structures and secondaries deals and we are able to draw on this huge resource, as necessary, to ensure that our team on your project is never resource constrained.
A secondaries transaction requires both funds and transactional expertise. All members of our secondaries team have an extensive M&A background and this is combined with our top private equity transactional practice. This combination of skills is unique in the market and means that we can offer unparalleled technical and transactional advice to our clients.
As well as being involved in some of the biggest secondary transactions to date, we have deep experience of advising GPs on GP led secondary transactions (for example fund restructuring), and advising secondary funds on a number of different transactions including those providing structured liquidity solutions to investors.
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Our experience with secondaries includes advising:
- Unicredit Bank AG and its subsidiaries on disposing of part of its European private equity portfolio comprising more than 30 fund interests
- Capital Dynamics on various funds that are dedicated to secondary market acquisitions
- Ascendas Group, a large Singaporean REIT manager, and Accor, a leading global hospitality group, on their acquisition of parts of Mirvac’s hotel portfolio interests
- HSH Nordbank and its subsidiaries on its disposal of its European portfolio comprising in excess of 50 fund interests
- Canada Pension Plan Investment Board on the acquisition of interests in a shopping centre fund
- 3i Group plc on the sale of a significant part of its technology and healthcare portfolios, comprising over 30 companies in 10 jurisdictions, to a consortium comprising of Coller Capital, HarbourVest and DFJ Esprit
- On the sale of a portfolio of private equity fund interests on behalf of the Telefonica employees’ pension fund
- Magnum Industrial Partners on a secondary restructuring of Magnum I investors’ base which included stapled primary commitments for its new fund.
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