Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
Conversus Sells Investment Portfolio to HarbourVest
Practices
Paul, Weiss advised Oak Hill Investment Management, L.P. in the $1.4 billion sale by Conversus Capital, L.P., a publicly traded portfolio of third-party private equity funds, of its portfolio of private equity fund interests and direct co-investments to HarbourVest Structured Solutions II, L.P, a Guernsey limited partnership managed by HarbourVest Partners LLC. Not reflected in the purchase price were net cash and directly held public equity securities owned by Conversus, which totaled $66.4 million. Following each closing under the definitive agreement with HarbourVest Structured Solutions, Conversus intends to distribute the net proceeds received to its unit holders. Promptly following the final closing, Conversus intends to appoint a liquidator to wind up its remaining operations and make a liquidating distribution in accordance with Guernsey law.
The Paul, Weiss team included corporate partners Marco V. Masotti and Kenneth M. Schneider, and counsel Amran Hussein.