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 Completes $3 Billion Continuation Fund to Support Continued Growth of Four Portfolio Companies
- Client News
- July 1, 2021
Paul, Weiss advised General Atlantic in its first multi-asset continuation fund, which allows it to retain existing stakes in four of its portfolio companies. The fund, which closed on July 1 with more than $3 billion in new capital commitments, represents the largest pool of new money secondary commitments in a continuation fund to date. The capital was used to acquire the portfolio companies from existing investors.
The portfolio companies include Howden Group Holdings, the largest employee-owned (re)insurance intermediary globally; Argus Media, a leading commodities price reporting agency and provider of market intelligence to global energy and commodity markets; Sanfer, Mexico’s largest pharmaceutical company; and Red Ventures, a global media company comprising a portfolio of brands and digital platforms that connect millions of people with expert advice.
The Paul, Weiss team included corporate partners Matthew Abbott, Amran Hussein, Neil Goldman, Conrad van Loggerenberg and Marco Masotti, and counsel Maury Slevin, Ji Lu, Philip Heimowitz, Suhan Shim and Caitlin Kelly; tax partners Lindsay Parks and Patrick Karsnitz, and counsel Shane Milam; antitrust counsel Marta Kelly; and executive compensation counsel Jacob Glazeski.