Ropes & Gray Advises Nordic Capital on Largest Ever GP-Led Secondaries Deal
Ropes & Gray has advised Nordic Capital, a leading private equity investor in the Nordic region, on the closing of its milestone €2.5bn continuation vehicle for its seventh fund. The innovative secondary transaction is the world’s largest ever GP-led secondaries deal. Ropes & Gray advised Nordic Capital alongside Kirkland & Ellis and Carey Olsen.
The transaction involved the transfer of nine unlisted portfolio companies, with a combined enterprise value of €4.4 bn, from Nordic Capital’s 2008 vintage fund, Fund VII, into a new vehicle, Nordic Capital CV1. The transaction provides Nordic Capital Fund VII portfolio companies with the opportunity to maximise their value creation potential over the next five years.
The Ropes & Gray team was led by investment funds partner Matt Judd, in London.
A pioneer at the inception of the private investment funds industry, Ropes & Gray today has one of the largest and most sophisticated investment fund practices in the world, advising clients on the full range of private fund strategies. The size, scope and integration of the firm’s sponsor and investor practices provide the team with unequaled insight into market terms and developments globally.