Goodwin has advised Spice Private Equity (Bermuda), a subsidiary of the Swiss investment company Spice Private Equity Ltd, on a USD31.1 million sale of assets.
Seven assets were sold including all primary fund investments, simplifying cash management for Spice and creating further capacity for new direct investments.
The portfolio comprised five primary fund investments (Navis Asia VII, Northstar IV, Baring Asia VI, Carlyle Sub Saharan Africa Fund and Helios III) and two co-investments (Altico Capital and Rede D’Or).
During the holding of the portfolio, a gain of 6 per cent was generated.
The Goodwin team in London was led by Greg Barclay (partner – private investment funds), Bhargavi Mudakavi (associate) and Dominic Wong (associate), with advice from Scott Webster (partner – ERISA) and Janet Andolina (partner – US tax) in the US.
Barclay says: “This deal streamlines Spice Private Equity’s portfolio so it is well-positioned to pursue the opportunities in its pipeline. The deal is indicative of Goodwin’s expertise in private investment funds and helps to consolidate a fully-integrated, multi-jurisdictional funds practice, across both the primary and secondary markets.”
