Milbank LLP advised global growth investor Summit Partners in connection with the sale of a majority stake in GRESB to General Atlantic. Summit Partners will retain a minority position in GRESB and will partner with General Atlantic in GRESB’s next phase of growth through strategic expansion and product innovation.
GRESB is a leading global provider of sustainability standards and benchmarks for real assets. The annual GRESB benchmarks, used by 150 institutional and financial investors to inform decision-making, include more than 2,000 real estate portfolios and funds as well as more than 170 infrastructure funds and nearly 700 infrastructure assets, collectively representing USD 8.8 trillion in gross asset value.
Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Founded in 1984, Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries.
The deal team was led by London Corporate partner Andrej Wolf with support from special counsel Merih Altay, associates Gemma Cullen and Daniel Woods and trainee Rachel Tay. The team also included London Antitrust partner Andrea Hamilton, Washington D.C. Antitrust special counsel Daniel Rosenthal and London Tax special counsel Andrew Callaghan.
