Linklaters wins debut Cinven mandate on €5bn fundraising
Linklaters has been instructed on Cinven's planned €5bn (£4.3bn) private equity fundraising, marking the magic circle firm's first major mandate for the European private equity house. London funds chief Jonathan de Lance-Holmes will take the lead role on the fundraising, which is due to kick off in the New Year.
October 24, 2011 at 10:49 AM
2 minute read
Linklaters has been instructed on Cinven's planned €5bn (£4.3bn) private equity fundraising, marking the magic circle firm's first major mandate for the European private equity house.
London funds chief Jonathan de Lance-Holmes will take the lead role on the fundraising, which is due to kick off in the New Year.
Cinven's fundraising work has traditionally been handled by Ashurst's former funds chief Jeremy Sheldon, who retired from the firm last year.
In 2006 Sheldon led an Ashurst team on Cinven's €6.5bn (£5.7bn) fundraising, and also advised on a €4.4bn (£3.8m) fund in 2001.
The instruction for Linklaters will be seen as a major coup for the firm, which recently lost key funds client BC Partners to Simpson Thacher & Bartlett.
Ex-Clifford Chance funds heavyweight Jason Glover, who joined the US firm in January, has this year been instructed to handle BC Partners' €4bn (£3.4bn) fundraising, as well as multibillion-euro roles for Apax and EQT Partners.
Commenting on the instruction for Linklaters, one City funds partner commented: "This is by far and away their flagship mandate in Europe. They hired Scott Bowie out of Latham & Watkins in New York a few years back so have a very creditable US practice."
On the buyout side, Cinven works primarily with Freshfields Bruckhaus Deringer. The magic circle firm advised on the £1.4bn purchase of BUPA's hospitals in 2007, while in 2005 it led on the €7.6bn (£5.1bn) merger of paper packaging subsidiary Kappa and Jefferson Smurfit Group.
- Click here for Legal Week's in-depth feature on private equity
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