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Kirkland & Ellis
Department profile | Kirkland & Ellis
Private Equity: Secondaries

About

Provided by Kirkland & Ellis

Kirkland’s Investment Funds Group includes a market-leading Liquidity Solutions practice, which advises on a broad spectrum of transactions in the secondary market. For nearly two decades, Kirkland has been at the forefront of the evolution of the secondaries space in the U.S., Europe and Asia and continues to benefit from a significant ‘early mover’ advantage in each market as they mature.

 

Our experienced practice brings together a deep knowledge of alternative fund products with an integrated and multidisciplinary team of attorneys to advise fund sponsors, buyers (including lead investors and syndicate participants in GP-led liquidity transactions), sellers, management teams, financial advisors and fairness opinion providers. Year after year in the U.S., Europe and Asia, Kirkland significantly surpasses other law firms in secondaries market volume (source: Private Equity International), having advised clients on a large proportion of all transactions executed to date. 

Chambers Review

Provided by Chambers

Private Equity: Secondaries - USA - Nationwide

1
Band 1

What the Team is Known For

Kirkland & Ellis' outstanding pedigree in secondaries transactions sees it regularly act for an enviable array of household name funds in their most complex liquidity transactions. Its attorneys offer a wealth of expertise across continuation fund work, portfolio sales, fund restructuring and recapitalization matters and sponsor investment work, alongside additional resource in its tax and regulatory groups.

Notable practitioners

Sean Hill is a key contact for clients.

Work Highlights

  • Kirkland & Ellis advised Warburg Pincus on the $1.6 billion sale of 50% of portfolio company Duravant to Carlyle and a simultaneous GP-led purchase of the company by a Warburg Pincus continuation fund.

Strengths

Provided by Chambers

"It's a deep bench with experienced leadership and strong senior and junior professionals. They're focused on best-in-class service, while being cognizant of budgets."

Private Equity: Secondaries respondent
USA

"Kirkland, given the breadth of their engagement in the secondary market on the GP-led and LP-led side and the number of transactions they process, are very well aware of emerging trends and what is considered market."

Private Equity: Secondaries respondent
USA

"They have the most experience in the industry so they can draft off of a very large database of transaction experience on behalf of their clients and they appreciate the commercial dynamics across deals and investors."

Private Equity: Secondaries respondent
USA

"Kirkland's secondaries team has a deep bench, drawing from a huge pool of dedicated team members in addition to traditional investment fund lawyers and M&A lawyers."

Private Equity: Secondaries respondent
USA

"K&E is a clear, dominant force in terms of law firms working in the PE secondary market. It's the largest and most experienced team on Wall Street doing these transactions and, given their very large team, they remain able to provide high-touch counsel to clients, notwithstanding how active they are in the market."

Private Equity: Secondaries respondent
USA