O'Melveny & SJ Berwin line up on Coller's £1bn portfolio deal
SJ Berwin and O'Melveny & Myers have taken the leading roles on the sale of Lloyds Banking Group's £1.03bn private equity investments portfolio to Coller Capital. The deal, which marks one of the largest completed unsyndicated secondary deals to date, saw O'Melveny reprise its role for regular client Coller, with a team comprising London office head and investment funds partner Solomon Wifa, funds partner John Daghlian, tax partner Jan Birtwell, corporate finance partner Sherri Snelson and disputes partner David Foster.
August 16, 2012 at 10:29 AM
2 minute read
SJ Berwin and O'Melveny & Myers have taken the leading roles on the sale of Lloyds Banking Group's £1.03bn private equity investments portfolio to Coller Capital.
The deal, which marks one of the largest completed unsyndicated secondary deals to date, saw O'Melveny reprise its role for regular client Coller, with a team comprising London office head and investment funds partner Solomon Wifa, funds partner John Daghlian, tax partner Jan Birtwell, corporate finance partner Sherri Snelson and disputes partner David Foster.
Meanwhile, SJ Berwin acted for Lloyds. London corporate finance partner Jonathan Pittal led the team, with support from funds partner Warren Allan, corporate partner Andrew Wingfield, financial markets partner Tamasin Little and tax partner Stephen Pevsner.
The transaction sees the UK private equity house acquire assets inherited by Lloyds following its takeover of HBOS in January 2009.
Scottish firm Burness assisted Lloyds on Scottish matters relating to the transaction with a team led by Edinburgh-based corporate head Alan Soppitt.
The acquisition was financed by Coller's $5.5bn (£3.5bn) CIP VI fund which last month had its final closing. O'Melveny also advised on the fund-raising, which is marks one of the largest on the secondary market to date.
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