The London office of Debevoise & Plimpton LLP has advised Exponent Private Equity (“Exponent”) on its new £1 billion fund, Exponent Private Equity Partners III, LP. The fund reached its final close on April 10, 2015. 

The fund will continue Exponent's investment strategy of investing in UK-headquartered businesses operating in the upper middle-market. It will target companies with enterprise values between £75 million and £350 million which operate in a range of sectors and markets.

The £1 billion of commitments raised for the fund, which is the third fund raised by Exponent, exceeded the £800 million target, with the fund’s final close coming three months after its initial close in January.  The capital for the fund was raised from a diversified group of leading investors from around the globe. 30% of the total capital was sourced from limited partners based in North America, 18% from the UK, 51% from Europe and the balance from Australia and Japan. 

Debevoise has been advising Exponent on its funds since it launched its first fund in 2004. 

The Debevoise team advising Exponent was led by London based partner Geoffrey Kittredge, and also included associates John Rife and Alex Howard. UK tax advice was provided by London based partner Richard Ward and associate Ceinwen Rees. U.S. tax advice was provided by London based partner Matthew D. Saronson and associate Patrick Fasoro. 

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.