Tax issues on stake sales and investment into managers: structuring, pitfalls and steps to take now
About
Nicholas advises on a range of domestic and cross-border transactions, including strategic M&A (particularly in the financial services sector), private equity, joint ventures and restructurings.
He is known for helping clients navigate business-critical deals involving complex structures, multi-party dynamics and demanding timelines. His clients include financial sponsors, private capital investors, corporates and management teams, and he regularly acts on transactions involving LLPs and other partnership structures, both in the UK and internationally.
He has a particular focus on asset manager M&A and GP stakes, as well as transactions involving wealth managers and multi-family offices/OCIOs.
The majority of his matters are multi-jurisdictional, particularly involving the US, and he spent 12 months seconded to the M&A team of a leading New York law firm.
Experience
- Advising Arcmont Asset Management on the strategic partnership between Nuveen Private Capital, Hunter Point Capital and Temasek.
- Advising Stonehage Fleming, one of the world’s leading independently owned multi-family offices, on its combination with US-based wealth advisor Corient.
- Advising Partners Capital Investment Group, a global outsourced investment office, on a minority investment from General Atlantic, a leading global growth equity investor.
- Advising Wendel Group, the French listed investment firm, on its acquisition of a controlling interest in IK Partners, a leading European mid-market private equity firm.
- Advising Signal Capital Partners on its strategic partnership with Armen, a European GP-stakes investor.
- Advising Arcmont Asset Management on its sale to Nuveen, the investment manager of the Teachers Insurance and Annuity Association of America Fund (TIAA).
- Advising Partners Group and Duke Street on their sale of specialist care provider Voyage Care to Wren House.
- Advising Epiris on the sale of wealth management company Saunderson House to Rathbone Brothers Plc for a total consideration of £150m and on its acquisition of the majority of the business and assets of Casual Dining Group (the operator of the Bella Italia, Café Rouge and Las Iguanas restaurant brands) out of administration.
- Advising the restructuring team of Deloitte on their sale to Teneo, a global CEO advisory business backed by CVC.
- Advising Graphite Capital on its acquisitions of Ten10, the nGAGE group, New World Trading Co. and Beck & Pollitzer.
- Advising H2 Equity Partners on its carve-out acquisition of Acal BFi from discoverIE Group.
- Advising Charme Capital Partners on various acquisitions, including its acquisition of a majority stake in Prism Healthcare.
- Advising August Equity on its investment in Anderson Anderson & Brown, an accountancy and business services group.
- Advising Caledonia Investments PLC on its acquisition of a stake in BioAgilytix, a US-based pharmaceuticals services business, and on the subsequent sale of such stake and reinvestment into the business alongside a consortium of sponsors.
- Advising Perrigo Company PLC on the sale of its Rosemont Pharmaceuticals business to a UK-based private equity firm for £156m.
- Advising the Neptune management team on the formation of Neptune Oil & Gas, backed by Carlyle, CVC and the China Investment Corporation
- Advising Schroders on its acquisition of the wealth management business of C. Hoare & Co.
- Advising LCM Partners in relation to the acquisition by Brookfield Asset Management of a strategic interest in Link Financial Group.
- Advising IPGL on various matters, including its sale of City Index to Gain Capital Inc.