Private Fund Transactions

Debevoise’s Private Fund Transactions Group is a cross-office, cross-practice team with significant experience on non-traditional, fund-related transactions involving funds and assets all over the world.

The Group advises sponsors, secondary investors, limited partners, sovereign wealth funds, insurance companies and pension plan investors on a variety of private equity-focused investment strategies.

Through its focused and efficient interdisciplinary teams, the Group offers deep market knowledge and creative, holistic solutions to issues encountered in these complex transactions.

  • Secondary Transactions and Liquidity Solutions: We are at the forefront of the rapidly growing secondaries market, and provide thoughtful and commercial advice to both sponsor and investor clients in a range of transactions, from traditional LP interest transfers and portfolio sales to complex GP-led fund restructurings, strip sales, GP-for-hire transactions and preferred equity solutions.
  • Co-investment Transactions: We have a deep understanding of co-investment programs and transactions from both the sponsor’s and the investor’s perspective. Our team regularly advises on co-investments involving major private equity sponsors in North America, Europe, Asia and Africa, handling on average approximately 100 co-investment transactions per year, giving us an exceptionally wide view of market terms and their evolution.
  • GP/Manager Replacement: In recent years, we have worked on GP/manager replacement and removal transactions involving developed and developing markets fund managers, often triggered by governance-related reasons.
  • Special Situations: We bring our team’s depth and range of experience to bear on our clients’ most complicated and unprecedented transactions. Examples include advising TPG Growth in its takeover of the existing assets of the Abraaj Group’s $1 billion Global Healthcare Fund, and advising Glendower on a $530 million fundless sponsor transaction.
  • Investments in Investment Managers: We represent fund managers, staking funds and long-term capital investors in GP staking transactions.