Paul Hastings and Latham & Watkins have scored roles on private equity firm Silver Lake's $500 million investment in City Football Group (CFG), the owner and operator of football clubs including Manchester City FC. 

U.S.-based Silver Lake's equity investment is equivalent to 10% of CFG's post-investment value which stands at $4.8 billion, according to a statement by the company.

Paul Hastings is advising CFG on the deal with a team made up of London-based corporate partner Matthew Poxon, managing partner Ronan O'Sullivan, tax partner Arun Birla and New York-based Bruce DePaola.