Ropes & Gray Serves as Legal Counsel to Kohlberg on $1.1 Billion Continuation Vehicle Transaction
Ropes & Gray served as legal counsel to Kohlberg & Company (“Kohlberg”), a leading private equity firm with over 34 years of experience, on its $1.1 billion Continuation Vehicle transaction co-led by affiliates of BlackRock, GIC and Lexington Partners. The Continuation Vehicle closed on July 20, and encompasses the remaining assets of Kohlberg Investors VII (“Fund VII”), a 2012 vintage fund with $1.6 billion in capital commitments, and is the first continuation vehicle to be established by Kohlberg.
The Continuation Vehicle will support the growth of four platform investments, while simultaneously providing Fund VII Limited Partners an attractive liquidity opportunity to solidify their returns.
Asset management partner, institutional investors team co-leader and buyout funds team co-leader Marc Biamonte, led the Ropes & Gray team advising Kohlberg, which included asset management partner Katie Waite, tax partner Jay Milkes, asset management counsel Steve Zaorski, asset management associates J.R. Ames, April Herleikson, Kyung Paik and Yusheng Huan, and tax associates Chris Shim and Dan Zuckerman.