Conversus Capital in $1.4 Billion Sale of its Portfolio of Private Equity Fund Interests

July 2, 2012

Cleary Gottlieb is representing Conversus Capital in the sale of its portfolio of third party private equity fund interests to HarbourVest Partners for approximately $1.4 billion. The transaction was announced on July 2.

Conversus is a publicly traded portfolio of third party private equity funds listed on NYSE Euronext Amsterdam. Conversus common unit holders will be given the choice of receiving cash consideration or rolling up to an aggregate maximum of 49.9% of the common units into an equivalent equity interest in the new HarbourVest acquisition vehicle. In connection with the transaction, Conversus also has agreed to acquire Conversus Asset Management, the investment manager of Conversus, for approximately $42.5 million and an exchange of releases.