Cleary Gottlieb has won Law360’s Fund Formation Practice Group of the Year award for its work helping investors and clients form multibillion-dollar investment funds in 2019.
The firm’s private funds team was recognized among the leading groups for its work steering an agreement about the future of Abraaj Group’s Global Healthcare Fund, following the bankruptcy of the group’s holding company. Cleary worked with the fund’s investors, representing the Limited Partner Advisory Committee as it secured new management for the vehicle. Cleary partner Adrian Leipsic said, “It was effectively an exercise in crisis management on a very large scale, which involved coordinating among all of the LPAC members, shepherding them through the process, and eventually righting the ship.”
Law360 noted Cleary’s work for TPG on several deals throughout the year, including a $1.6 billion fund for investments in technology, media, and telecommunications companies; a $4.6 billion fund for investments in Asia-based businesses; and a $2.2 billion investment vehicle sponsored by a TPG affiliate for growth investments in areas such as data infrastructure, financial services, and software.
Law360 also highlighted Cleary’s work for KKR & Co., spearheading its Global Impact fund. Cleary partner Liza Lenas said, “I think investors, especially state plans, are very interested in impact investing and being able to show their own investors that they care about [environmental, social, and governance] issues.”
This award is one of three Law360 Practice Group of the Year awards that the firm has received for 2019. To read Law360’s full profile on Cleary’s Fund Formation group, click here.