Law firm Ropes & Gray has advised Crescent Capital Partners Management Pty Limited (Crescent) on its over-subscribed Crescent Capital Partners V (Crescent V) fund.
An AUD675 million fund, Crescent V will seek to invest in middle market businesses primarily in Australia and New Zealand with a focus on companies worth between AUD50 million and AUD300 million.
Recognised as one of Australasia’s leading private equity firms, Crescent was formed in Sydney in 2000. The firm has a highly strategic approach to investing, targeting specific investment themes and sectors that will experience strong profit growth. Crescent’s investment approach is complemented by extensive strategy consulting and business management expertise provided by its relatively large investment team who work closely with management in driving outcomes at the portfolio company.
The Ropes & Gray team led by James Wood acted in relation to investor negotiations and advised on marketing of the fund interests, US securities matters, US tax, Employee Retirement Income Security Act (ERISA) and the Alternative Investment Fund Managers Directive (AIFMD).
Wood was assisted by a transatlantic team comprising of partner Matt Judd, associate Thomas Marriott, trainee Emma Locke in London; Boston partner Peter Rosenberg; New York partner Jay Milkes, counsel Mark Sugino and Seth Piken, and associates Sabrina Glaser and Adam Greenwood.
Wood says: “The Australasian private equity market is an attractive one. It boasts a well-developed banking and M&A market, transparent regulation and a plentiful supply of middle market investment opportunities: a perfect combination for private equity investment. Crescent V was an exciting fund to launch and allowed us to work cross border with our US offices to ensure that the client was serviced to the highest level.”
