O’Melveny & Myers LLP advised long-term client Coller Capital on the approximately £1.03 billion acquisition by a fund financed by Coller International Partners VI (CIP VI) of a portfolio of private equity-related investments, as well as the transfer of £220 million of undrawn commitments, from Lloyds Banking Group plc. This transaction is believed to be the largest unsyndicated secondaries deal ever completed. The O’Melveny London-based team was led by partner Solomon Wifa.
Previously, in July 2012, O’Melveny advised Coller Capital on its successful fund-raising for CIP VI. The fund raised US$5.5 billion, which makes it the second largest secondaries fundraising ever. This complex matter was handled by a global O’Melveny team of lawyers in London, the U.S. and Asia, and led by London partner John Daghlian and counsel Daniel Quinn.
O’Melveny also advised CIP VI on a number of significant transactions between first and final closing, including its agreement with Crédit Agricole S.A. for Coller’s acquisition of the bank’s private equity manager, Crédit Agricole Private Equity (CAPE), together with substantially all of Crédit Agricole’s remaining investments in the funds managed by CAPE. That transaction was announced on December 16, 2011, and was completed in the March 2012.
