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Private Capital

Linklaters’ Private Capital Group brings together diverse specialists to support financial sponsors and investors, providing expert, practical solutions across the investment lifecycle.

Our Private Capital Group combines expertise from across the firm to support private equity and financial sponsors, alternative capital providers and other financial investors on structuring funds, raising capital, financing and executing transactions, managing portfolios, and optimising exits.

Drawing on decades of experience in advising clients across an extensive range of investment strategies and sectors, we can offer pragmatic, commercial and practical solutions throughout the entire lifespan of both funds and assets to support the management of investment cycles with confidence and clarity.

Private capital service diagram

Asset class coverage

We deliver cutting-edge advice across a variety of private capital asset classes, ensuring our clients achieve their commercial objectives across diverse investment landscapes.

On-hand support throughout all stages of the private capital lifecycle

M&A transaction execution

Our market-leading teams provide comprehensive support throughout the M&A transaction lifecycle, including leveraged buyouts of all sizes, private M&A (both buy-side and sell-side), carve-out, take-private and public-to-private deals, consortium arrangements, joint ventures, minority investments, and structured equity solutions. We deliver end-to-end service, covering everything from due diligence and competitive auction processes to the negotiation of terms and closing, ensuring our advice is always tailored to maximise value and effectively manage risk for financial sponsors and portfolio companies across the full range of private capital asset classes of private equity, infrastructure, energy, real estate, and private credit.

Fund structuring and fund formation

We advise the full spectrum of sponsor clients active in the private capital, private wealth and mutual funds space, including those active in private equity (large cap, buyout, venture and growth), private credit (direct lending, mezzanine and special situations), infrastructure and natural resources, real estate, venture capital and liquid funds (UCITS). We provide advice across a broad range of products, including closed-ended and open-ended funds, evergreen and semi-liquid funds, which may be designed as flagship funds, bespoke solutions, fund of funds, access funds, co-investments and private wealth products.

Fundraising and investor negotiations

  1. We assist GPs on their fundraising activities, assisting them in negotiations with potential investors, side letter negotiations, MFN processes and AML / KYC, sanctions and related questions, as well as on their distribution / placement networks and different ways or tools how they approach various investor groups in various jurisdictions.
  2. We have a leading investor and LP led secondaries practice, advising a wide range of clients—including fund of funds, sovereign wealth funds, insurance undertakings, development finance institutions and major pension funds—on all aspects of their private funds investments. Our expertise covers the full spectrum of commercial, tax, legal and regulatory issues in fund investments and transfers, from fund due diligences to cornerstone negotiations and bespoke investment arrangements.

Capital deployment and entry points

We support clients on structuring and executing investments across all key sectors, asset classes and jurisdictions. Our team advises on the entire execution phase, including deal structuring, due diligence, negotiation of terms and entry into competitive processes. We help clients optimise entry strategies, manage risk and ensure efficient deployment of capital in line with their commercial objectives.

Financing

We advise private capital providers across the full range of financing solutions, including leveraged and acquisition financings across the capital structure (syndicated, private credit and high yield), fund-level and NAV financings, margin lending and structured capital solutions. Our team supports throughout the lifecycle of investments with proactive portfolio management (including refinancings, recapitalisations and restructurings) and structuring exit solutions. We have dedicated finance teams across all major jurisdictions and have extensive experience in delivering complex cross-border transactions for our clients

Portfolio management

Our dedicated portfolio team offers bespoke advice to private equity and financial sponsor-owned portfolio companies. We address a spectrum of needs, including management incentive plans, bolt-on M&A, and specialist regulatory and contentious advice. This offering ensures tailor-made support for portfolio companies throughout their journey with a sponsor shareholder.

Capital solutions and restructuring

We draw upon the experience, knowhow and insight of market-leading individuals and teams across all key disciplines relevant to structured capital solutions, including Private Equity, Restructuring & Insolvency, Litigation, Arbitration & Investigations, Capital Markets and Debt Finance, to deliver innovative and bespoke structures for the deployment and preservation of private capital. Our experts support our clients in the successful navigation of financial and other challenges, providing for the maximisation of value and the creation of opportunity out of stress or distress.

Exits

As a market leader in advising on European large-cap sell-side mandates over the past decades, we understand what is required to position a company for sale. Whether the exit is a sale by way of auction process, IPO, a dual track exit, merger, minority sale or otherwise, we have market-leading teams able to support you.

Taxation and regulation

We regularly advise funds, investors and financial institutions at all stages of a fund and investment lifecycle. We bring together experts in tax, corporate, regulatory, finance and competition law to advise on aspects of domestic and cross-border fund and investment platform establishment, primary investments (including LBO transactions of different sizes and complexity, public-to-private transactions and refinancings) and all forms of exits, such as IPOs and secondary buyouts.

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