Secondaries Deal of the Year in Europe
1. Astorg, AlpInvest Partners, Goldman Sachs Asset Management and Lazard for GP-led process on IQ-EQ
2. BC Partners, Evercore and Neuberger Berman for the single-asset process on Springer Nature
3. Glendower Capital, Intermediate Capital Group and Lazard for the single-asset process on DomusVi
Astorg ran an oversubscribed process on a company described by one prospective buyer as an “ideal” post-pandemic investment with “overall resilience and good visibility on growth”. Investors in Fund V were given the chance to roll into a new vehicle with private fund services company IQ-EQ or sell at a premium. At €1.3 billion including follow-on capital, this was one of the largest single-asset deals to ever take place in Europe.
Secondaries Firm of the Year in Europe
1. HarbourVest Partners
2. AlpInvest Partners
3. Glendower Capital
After collecting $8.1 billion for Dover Street X in the fourth quarter of 2020, HarbourVest went on to lead several interesting deals in Europe in 2021. These included a €350 million process involving Spain’s Portobello Capital and a complex continuation fund and staple for venture capital firm Kibo Ventures Partners. In addition to backing the GP-led deal, HarbourVest anchored Kibo’s debut Opportunity Fund, which co-invests in growth rounds of the Spanish firm’s existing companies.
Secondaries Adviser of the Year in Europe
2. Campbell Lutyens
For the second year in a row, Evercore takes the advisory crown in Europe. Evercore was on track to close or sign on $11.1 billion of European transactions by the end of 2021, compared with $7 billion the year before. Among these were BC Partners’ $1.2 billion single-asset process centred on publisher Springer Nature, a $370 million GP-led process involving Nordic-focused manager Verdane, and a $2.1 billion portfolio sale – the largest in Europe last year.
Secondaries Law Firm of the Year in Europe
1. Kirkland & Ellis
2. Proskauer Rose
3. Clifford Chance
A frequent winner of this award, Kirkland & Ellis worked on $17.9 billion of secondaries transactions in Europe over the course of 2021, including 15 GP-led deals worth $9.7 billion. These included a €500 million continuation fund deal on an Ares Management fund, a €225 million process on a Rothschild Five Arrows buyout fund and a sizeable transaction involving Waterland Private Equity. Kirkland also advised on nine portfolio sales worth $2.3 billion and 12 NAV-based financings worth $3.3 billion.
Here is the full list of winners across the three geographic regions: Click an award to read more…