Mourant Ozannes has advised on three of the most significant private equity transactions in Europe during the first quarter of 2017, according to the league tables published by global deal research agency Pitchbook.
Pitchbook’s latest report, entitled 1Q 2017 European PE Breakdown, includes the largest PE exit and the largest PE fund closing.
Mourant Ozannes lawyers led on the offshore aspects of three of the top deals, including the sale of Delta Topco Limited’s Formula One business to Liberty Media Group ranked first among “Select Largest European PE-Backed Exits,” and two top-ranked fund closings highlighted in “Select Largest Closed European PE Funds”: Crescent Mezzanine Partners VII (Fund VII), which closed on 12 January at more than USD4.6 billion, and HgCapital 8, which closed 15 February at GBP2.5 billion.
Mourant Ozannes partner and international head of funds, Ben Robins, says: “It has certainly been a busy quarter and we are very proud to have been involved in the largest closing identified by Pitchbook so far this year, exceeding an initial fundraising target of USD3.0 billion and representing the largest private mezzanine offering in Crescent Mezzanine’s history.
“The private equity market remains buoyant despite underlying issues with significant levels of dry powder. Sentiment across the private equity industry globally remains upbeat as we near the half year point.”
