Private Equity | Europe

CS'Associados benefits both from proven fund structuring capabilities and a strong M&A team that is regularly instructed on significant private equity-driven corporate transactions. The firm acts for key Portuguese asset managers on the structuring of new private equity funds. It attracts attention for its experience in venture capital deals, with experience on both the fund and founder side of new financing rounds. The firm also acts for large private equity firms on varied M&A deals, including add-on acquisitions, minority investments and secondary buyouts. It is notably active on infrastructure and technology sector deals.

Linklaters is a leading private equity team capable of handling highly complex issues. The firm has strong cross-border expertise, and it has an integrated finance team to assist with leveraged buyouts. It handles add-on acquisitions for private equity-owned companies seeking to expand into overseas markets. The firm has assisted global asset managers with the sale of Portuguese businesses to trade buyers. It also has notable experience in alternative investments into Portuguese debt.

Morais Leitão boasts a superb venture capital practice, frequently advising new Portuguese start-ups and specialist venture capital firms on the negotiation of early-stage or higher-value equity investment rounds. The team assists with fund structuring mandates. It also covers a range of private equity-driven M&A transactions, having handled highlight mandates that involve secondary buyouts of real estate companies or toll road concessionaires.

PLMJ represents an array of important international and domestic funds in private equity mandates. It is selected as local counsel to advise on the Portuguese aspects of pan-European private equity buyouts. The firm advises foreign fund managers on inbound Portuguese acquisitions, and it assists portfolio companies with the bolt-on acquisition of competitors. PLMJ lawyers have further notable experience in venture capital deals, assisting funds and corporate groups with the subscription of funding rounds carried out by Portuguese start-ups.

VdA's highly respected lawyers are often instructed on transactions that have a significant asset management angle. The firm assists funds and their portfolio companies with add-on acquisitions of Portuguese infrastructure concessionaires or manufacturing companies. It acts for institutional investors on the divestment of shares. The firm also handles venture capital deals, including direct subscriptions of funding rounds and secondary investments into foreign funds.

CMS has experience in mid-cap private equity buyouts and growth capital investments carried out by domestic asset management firms. It advises institutional investors on real estate and energy acquisitions and investments. It also assists with any subsequent issues arising for portfolio companies.

Cuatrecasas handles a broad spectrum of private equity matters spanning high-value secondary buyouts carried out by leading US funds through to small seed funding rounds for Portuguese IT sector start-ups. The firm has proven experience in private equity buyouts of pharmaceutical and financial services companies. It assists with the acquisition of target companies that have significant operations in Spain and further afield. It also assists private equity firms with minority investments.

Garrigues attracts attention for its advice to Portuguese start-ups on highlight venture capital transactions. It covers the full scope of private equity transactions, advising companies on their investments as limited partners in venture capital funds and assisting established asset managers with the divestment of equity shareholdings. The firm has experience in private equity buyouts of mid-sized companies based in Spain.

SRS Legal is popular among domestic private equity firms carrying out mid-cap or venture capital investments in Portugal. It also has experience on the founder side of funding rounds that attract investment from global institutional investors. The firm acts on transactions targeting biotechnology, IT or online retail start-ups.

Uría Menéndez handles infrastructure transactions in which international funds target Portuguese companies or real estate opportunities. The firm acts for institutional investors, including pension funds and investors, on the corporate and finance aspects of inbound acquisitions. It has experience in the subscription of fund-raising rounds carried out by major Portuguese tech companies. It advises real estate-focused investors on the sale of individual assets or real estate holding companies.

TELLES joins the rankings this year thanks to strong market support. Well regarded for its M&A capabilities, the law firm is increasingly active in private equity transactions, especially investments in the real estate and pharmaceutical sectors. The team is also well placed to handle the incorporation of venture capital funds.