Cleary Gottlieb has won Law360’s Asset Management Practice Group of the Year award for its work helping clients form multibillion-dollar funds in 2018.
Law360 named Cleary among the leading groups for its work steering Hillhouse Capital on Hillhouse Fund IV LP, which closed at $10.6 billion; TPG with respect to its $2.1 billion social impact fund, The Rise Fund; and The Raine Group with respect to Raine Partners III, its third growth equity fund that held a first close at $579 million in July. Law360 also mentioned Cleary’s high-profile work representing limited partners in the Abraaj global health care fund. Overall, the firm helped its clients by structuring and organizing funds with $35 billion in commitments in 2018.
Managing Partner Michael Gerstenzang told Law360 that the firm’s “soup to nuts” approach to client service and the “efficient and focused” way it manages projects is what sets it apart among its peers. Partner Liza Lenas also talked to Law360 about the firm’s work in helping large private equity sponsors break into social impact fundraising, saying it’s “incredibly rewarding that we can work with our paying clients and our nonprofit clients to do work that ultimately will have a good societal impact.”
This award is one of four Law360 Practice Group of the Year awards that the firm has received. To read Law360’s full profile on Cleary’s asset management group, click here.