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Travers Smith advises BlueGem Capital Partners on a new subscription line facility

Overview

Travers Smith LLP has advised private equity firm BlueGem Capital Partners (BlueGem) on a revolving subscription credit facility, provided by OakNorth Bank (OakNorth).

Bluegem is a London-based private equity firm that exclusively invest in European consumer-facing businesses. Founded in 2007, it now has over €500 million of assets under management across its three funds. Its current portfolio includes Mamas&Papas, Iconic London and more.

The transaction marked UK bank OakNorth's entry to the private equity fund finance market and closed in just six weeks.

The Travers Smith team was led by Finance Partner Danny Peel and Senior Counsel Jamie Parish with support from Associate Alastair Lowson and Trainee Emma Gittings.

OakNorth was advised by Cadwalader.