Private Equity and Fund Formation

Forward-thinking Advice for the Most Progressive Deals.

Private equity investment is often at the forefront of the most creative and cutting-edge deals taking place in the market. It is also a competitive industry in which investment strategies evolve constantly. The mega-leveraged buyouts and quick IPO exits of yesterday seem to have given way to the increased due diligence and hands-on ownership of today. Helping clients pioneer the investment strategies that become tomorrow’s standard is the specialty of Milbank's Private Equity Group.

We have completed numerous private equity transactions in most major industries, both regulated and non-regulated, including the following industries:

M&A; Capital Markets

Our M&A experience in the US, Latin America, Europe and Asia encompasses the full range of private equity transactions, including LBOs, MBOs, “going-private” transactions, roll-up transactions, minority investments (including PIPE transactions), divisional spin-offs and Section 363 acquisitions out of bankruptcy.

We also regularly advise private equity funds and their portfolio companies in connection with add-on acquisitions and exit transactions, including stock and asset dispositions, sales of control positions, private and public company mergers, securities offerings, recapitalizations and restructurings.

Leveraged Finance

Our Banking and Leveraged Finance Group is a core components of our Private Equity Group. The Banking and Leveraged Finance Group, which focuses on high-yield, acquisition finance and mezzanine finance, is widely recognized for its depth and breadth of experience. In addition to representing financial sponsors and strategic investors, we regularly represent senior and mezzanine lenders, underwriters, issuers and borrowers.

Public Company Experience

We are particularly well-qualified to advise on public-to-privates and similar private equity transactions involving public companies. Our Private Equity team includes some of the most highly regarded practitioners in the complex area of public company transactions, many of whom concentrate primarily on private equity-related matters. This is a rare strength, especially in the UK and Germany, where it has been uncommon for leading lawyers practicing in the public company/takeover area to be heavily involved in the field of private equity.

Investment Funds Practice

We provide comprehensive services to fund sponsors in forming, structuring, raising funds for and managing private equity funds, hedge funds, funds-of-funds and other pooled investment vehicles. We also advise a broad range of investors in making investments in funds, co-investment vehicles and other pooled investment vehicles. We have represented fund sponsors and investors in connection with funds focused on all major asset classes, including Private Equity, senior, mezzanine, distressed and debtors-in-possession debt obligations, Real Estate, Gaming and Hospitality, Infrastructure, Power and Energy and Renewable Energy. Additionally, we regularly represent lenders in providing structural and other bank loans to private investment funds.

Our Investment Funds practice comprises lawyers from our Corporate, Compensation and Benefits, Finance and Tax teams, which enables us to structure complex investment vehicles, mange partnership taxation and offshore investment requirements and ensure compliance with the Employee Retirement Income Security Act of 1974, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Dodd–Frank Wall Street Reform and Consumer Protection Act and other regulatory frameworks.