Travers Smith LLP has advised longstanding client abrdn on a LP-led secondary transaction involving the sale of part of its interests in a 3i managed co-investment fund which holds Action to certain third party buyers (the "Buyers").
The transaction not only generated liquidity for abrdn but also enabled the Buyers to gain further exposure to Action.
abrdn is an investor in global private equity, focussing on fund investments, secondary investments and co-investments and managing £13 billion of assets.
The Travers Smith team was led by Private Equity and Financial Sponsors partner, Victoria Bramall and Funds senior associate James Ravden, and was supported by Funds associate Hannah Collins, together with Charlotte Mantell. Tax advice was provided by Emily Clark and was supported by Aimee Hutchinson.
US tax advice was provided to abrdn by Troutman Pepper Hamilton Sanders LLP.