We have acted on numerous “secondary direct” portfolio acquisitions, “management secondaries”, the purchase and sale of fund portfolios and innumerable negotiated fund purchase and sale transactions. Our track record in the area of secondaries is extensive. We have acted on some of the most significant sell-side mandates of recent years, particularly for a broad range of financial institutions and a number of large Middle Eastern sovereign funds. On the buy-side we have acted for some of the most important financial investors in the private equity secondaries market.
Some examples of our recent secondaries transactions include advising:
- AXA Private Equity on the acquisition by AXA Private Equity and its AXA Secondary Fund II, L.P. of interests in 11 funds, including eight Delaware limited partnerships and three French FCPR
- Ardian on its range of Secondaries Funds
- Deutsche Bank Private Equity on a range of private equity secondaries and private equity funds
- Cornell University in connection with the sale of a portfolio of over 50 private fund interests in a series of privately negotiated transactions with institutional secondary fund managers
- a sovereign wealth fund in connection with the offer and acquisition of future commitment obligations to a large European buy-out fund as part of a transaction which also involved the acquisition of a stake in the sponsor of such buy-out fund