Ashurst LLP advised Committed Advisors on the closing of its debut fund, Committed Advisors Secondary Fund I (the Fund), with EUR257 million of commitments.
Investors include endowments, family offices, financial institutions and sophisticated high net worth individuals.
The fund is dedicated to acquiring mature private equity assets in North America, Europe and Asia in the small and mid-sized segments of the private equity secondary market, ranging from EUR1 million to EUR75 million in size. Its primary focus is on buy-out and growth equity assets, yet it retains the ability to address opportunities in the distressed, turnaround, venture capital and sector-specific spaces.
The fund has already closed eight transactions since its launch in August 2010, with another two pending.
Ashurst LLP advised Commited Advisors with partner Xavier Comaills assisted by associates Tiana Rambatomanga and Marie Preat for the legal aspects of the Fund’s closing. The tax aspects were managed by partner Catherine Charpentier, assisted by associate Priscilla Van den Perre.