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.
General Atlantic-Backed dLocal Closes IPO
- Client News
- June 7, 2021
Paul, Weiss advised General Atlantic in the initial public offering of dLocal. Uruguay-based payment processor dLocal connects merchants with consumers in emerging markets, partnering with more than 300 companies including Amazon, Spotify and Microsoft.
The offering included approximately 29.4 million ordinary shares offered by dLocal and certain selling shareholders at $21.00 per share. The IPO generated proceeds of approximately $620 million, implying a valuation of approximately $6 billion.
In December 2019, General Atlantic closed its initial minority investment in dLocal. Paul, Weiss advised on this initial investment as well additional pre-IPO funding rounds.
The Paul, Weiss team included, among others, corporate partners Matthew Abbott, Christopher Cummings and Mark Bergman, and counsel Caitlin Kelly; antitrust counsel Marta Kelly; and tax partner Lindsay Parks.