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23 August 2017

Macfarlanes advises Lexington Partners on large scale transaction with BC Partners

Macfarlanes has advised Lexington Partners, a New York-based independent manager of secondary acquisition funds, on the closing of a large scale tender offer to investors in BC European Capital IX LP (BCEC IX). In aggregate, the transaction represents a total capital commitment of approximately $1bn from Lexington.

Lexington Partners is a long-standing client of Macfarlanes, with the firm advising them on a number of previous portfolio acquisitions. The team for this matter was led by Corporate and M&A partner Charles Meek alongside Christopher Good (Investment Management Group), James McCredie (Tax) and Paul Ellison (Financial Services). Further assistance came from solicitors Sam Goodman, Jennifer Murphy and Alicia Thomas.

Charles Meek comments: “We are delighted to have assisted Lexington on this investment. Whilst secondary liquidity solutions are now becoming more common in the private equity market, and we have worked on a number of similar types of transaction in the last year, the timetable for this transaction was ambitious, and that, together with its size, distinguished it from other recent liquidity solutions with which we have been involved.”

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