Debevoise & Plimpton LLP is advising Glendower Capital (“Glendower”), the leading private equity secondaries investment manager, in its agreement to establish a strategic partnership with CVC, the leading private equity and credit investment advisory firm.
The partnership will greatly complement and enhance both firms’ existing businesses and create a combined group with total assets under management of approximately €113 billion.
With roots in an international investment bank starting in 2003, and having spun out as an independent business in 2017, Glendower is an alternative asset manager exclusively focused on investing in private equity secondary transactions.
CVC is a leading private equity and investment advisory firm with a network of 24 offices throughout Europe, Asia and the US, with approximately $115 billion of assets under management.
The financial terms of the partnership were not disclosed. Glendower’s management will continue to lead the business which will operate independently under the Glendower name.
The transaction is subject to regulatory and other consents and is expected to close in Q4 2021.
For full details, see the official release here.
The Debevoise team advising Glendower is being led by partners Geoffrey Burgess and Geoffrey Kittredge, and includes international counsel Andrew Rearick, and associates Clarissa McNerney, Fatema Al-Arayedh, Nicola Bruton, Hilary Davidson, and Kay Hunter. Tax advice is being provided by partners Peter Furci and Richard Ward, counsel Samuel Duncan, international counsel Jenny Wheater, and associate Erasmo Perez. Finance advice is being provided by partner Thomas Smith, and associates Patrick Dixon, Anna Moore, and Felix Paterson. Regulatory and competition advice is being provided by partners Timothy McIver, Marc Ponchione and Patricia Volhard, and counsel Kyra Bromley and Greg Larkin.