Travers Smith LLP is delighted to announce that its Funds team has won the Legal Fund Formation Award at the Private Equity Service Providers Awards 2020.
The Private Equity Service Providers Awards 2020 recognise those in the private equity industry demonstrating impressive business growth, exceptional service and product innovation over the judging period, which was the 2019 calendar year. The team was recognised for its work throughout 2019 during which time it advised on 27 fundraisings for multiple private capital clients. As well as acting as lead counsel on these fundraising mandates, the award recognises the team to be innovatively shaping the secondaries market with sophisticated liquidity solutions for their clients seeking to meet investor demands. The team acts for selling investors, buying investors and private equity funds and their managers on all aspects of secondary transactions from offer through to exchange and closing.
A few work highlights during 2019 include acting for:
- Medicxi on the €400 million fundraising for Medicxi III LP investing in predominantly European and Europe originated life sciences companies
- Hermes GPE on the successful fundraising of a dedicated private equity co-investment fund, Hermes GPE PEC IV LP
- Benson Elliot Capital Management on the structuring and fundraising of its fifth private equity real estate fund. The Funds team has acted on all of Benson Elliot's fundraisings since 2006. In 2020 Travers Smith also advised Benson Elliot on its sale to PineBridge Investments Holdings Europe Limited.
A selection of the team's work highlights during 2020 include advising:
- Medicxi on its €200 million structured secondary transaction, which is unprecedented in the biotechnology industry
- on the spin-out of The Carlyle Group’s Irish private equity investment team to form Melior Equity Partners and the subsequent launch and fundraising of Melior’s own standalone fund, Melior Equity Partners II SCSp
- Elysian Capital, the UK lower mid-market private equity firm, on the oversubscribed fundraising of its third fund, Elysian Capital III LP.
This year's judges came from a range of organisations across the private equity sector including Silverfleet Capital, Mayfair Capital, Beechbrook Capital and ECI Partners.
Travers Smith's Funds Partner Sam Kay commented "We are delighted to win this award, which reflects a lot of hard work and consistently high levels of service by the Travers Smith Funds team over a number of years. We are incredibly proud that the award recognises our expertise and leading influence in shaping the alternative asset management market when it comes to fund formation for our clients."