International law firm Pinsent Masons has advised Lloyds TSB Bank on the arrangement of GBP11m of term and revolving credit facilities for the shareholders of a Guernsey-based fund adminis
International law firm Pinsent Masons has advised Lloyds TSB Bank on the arrangement of GBP11m of term and revolving credit facilities for the shareholders of a Guernsey-based fund administrator, International Private Equity Services.
Ipes, which was acquired by RJD Partners and the firm’s management through a buyout in September, provides dedicated fund administration and management services for private equity and venture capital funds. It also has offices in Jersey and London.
The Lloyds TSB Bank facilities were used to repay bridging finance provided by RJD Partners to effect the acquisition and to fund additional working capital for the business.
‘We are delighted to have completed this transaction for RJD Partners in the current, difficult market,’ says Lloyds TSB director Simon Barnes. ‘We look forward to supporting this promising business going forward.’
The London banking team of Pinsent Masons was led by partner Tony Anderson with assistance from solicitors Liam Terry and Anais Spacey and trainee Oliver Scutt. Ipes and RJD Partners were advised by DLA Piper.
Pinsent Masons is an international law firm with more than 290 partners and 1,000 lawyers who provide a full range of corporate and commercial services. The firm has headquarters in the City of London and offices throughout the UK as well as in Shanghai, Beijing, Hong Kong and Dubai, and is allied to independent law firms in Germany, France, Austria, Hungary, Turkey and the Baltic states through the Pinsent Masons Luther Group.
