Michael J. Preston is Co-Leader of Cleary Gottlieb’s EMEA Private Equity Transactions Group.

He advises a broad range of asset management groups and companies on their investments and co-investments, joint ventures, and other commercial transactions.

He has experience across a range of business sectors, with particular experience in healthcare, technology, infrastructure, energy, sports, and the emerging markets.

In addition to the firm’s EMEA Private Equity Transactions Group, Michael is Co-Leader of the Sovereign Wealth Funds and India Practice Group.

Michael joined the firm in 2005 and became a partner in 2011. From 2005 to 2010, he was resident in the London office. From 2011 to 2015, he was resident in the Hong Kong office. Previously, he was an associate at Allen & Overy LLP in London and at Russell McVeagh in Wellington, New Zealand.

 

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Notable Experience

Private Equity Transactions

  • A sovereign wealth fund and TPG Capital in their $2.2 billion investment in UPL, a global provider of sustainable agriculture products and solutions.

  • Temasek, alongside Brookfield, in its €6.1 billion take-private of Neoen, a leading independent global renewable energy producer headquartered in France.

  • Cascade Investment in the approximately $4.7 billion recommended cash acquisition of Signature, as part of a consortium with Blackstone and Global Infrastructure Partners.

  • TPG Growth in connection with:

    • Its $150 million investment in Tessolve, a leading semiconductor engineering services company.
    • Its investment in Gro Intelligence, a U.S.-based global agricultural data and analytics software developer, alongside The Rise Fund.

  • TPG Capital in connection with:

    • Its approximately $360 million investment in Fractal Analytics Private Limited in Asia.
    • Its sale of the entire issued and outstanding share capital of Victoria Plum to affiliates of Endless LLP.
    • The sale of Evoltz Participações S.A. to Ontario Teachers’ Pension Plan Board.

  • TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform TPG Rise, in connection with:

    • The carve-out and acquisition of a 90% stake of Siemens Gamesa’s wind turbine business in India and Sri Lanka, and on a long-term technology licensing agreement with Siemens Gamesa.
    • Its $1 billion (INR 7.5 billion) investment in Tata Motors’ electric vehicle and infrastructure business.

  • The Rise Fund, TPG’s global impact investing platform, in connection with:

    • Its investment in Kenyan digital payments firm Cellulant.
    • The acquisitions of The Electric Highway Company Limited by Gridserve Holdings Limited.
    • The acquisitions of a minority stake in ecotourism operator Wilderness Holdings Limited.
    • The acquisition of a minority stake in Pearl Dairy Farms Limited, a dairy processor operating in Kenya and Uganda.

  • Just Climate, an investment fund dedicated to climate-led investing, on its investment in Continuum Green Energy, a leading renewable energy group in India, to support the continued deployment of wind-solar-hybrid energy generation and storage projects across India.

  • Hillhouse in several growth equity investments in technology companies including BeiGene and Light Chaser Animation Studios, co-investment with CITIC PE Advisors in Biosensors, and various other investments in Europe and Asia, including its acquisition of whisky producer The Loch Lomond Group from Exponent Private Equity.

  • Warburg Pincus and two other lead investors in relation to a $1.25 billion investment in Airtel Africa Limited, which represents one of the largest international private equity investments in Africa.

  • British International Investment, the UK’s development finance institution and impact investor, in a joint venture partnership with Mahindra & Mahindra to develop electric vehicles.

  • A leading pension fund in its acquisition of an olive and olive oil production business.

  • Republic, the private investing platform, in its acquisition of Seedrs, the first regulated crowdfunding platform in the world.

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Corporate and M&A

  • Johnson Controls International plc, a U.S. conglomerate headquartered in Ireland, on the sale of ADT Mexico, a provider of electronic security and alarm monitoring services, to Verisure, a leading provider of professionally monitored security solutions and smart alarm technologies.

  • Central Group, a Thai multinational conglomerate and real estate investor, in connection with the minority acquisition and new investment by the Public Investment Fund (PIF), a leading sovereign wealth fund, in the Selfridges Group.

  • Atalian Holding Development and Strategy in the sale of the entire share capital of La Financière Atalian S.A.S. to private investment firm Clayton, Dubilier & Rice.

  • ENGIE on its acquisition of BTE Renewables, a leading renewable energy company in Africa, from Actis and the simultaneous carve-out and on-sale of BTE Renewables’ Kenyan assets to Meridiam.

  • An international HVAC company in its acquisition of Asset Plus Energy Performance Ltd, a specialist provider of energy reduction and zero-carbon measures for the UK public sector.

  • Bemis Company, a global manufacturer of flexible packaging products and pressure-sensitive materials, in its $6.8 billion all-stock combination with Amcor, a global packaging company.

  • Petronas, a Malaysian multinational oil and gas company, on several transactions including:

    • The sale of Engen, its petroleum refinery and downstream refined petroleum products group.
    • Its proposed acquisition of a listed energy company operating assets in a number of countries around the world.
    • Its proposed investment in a biorefinery group.

  • WillScot Mobile Mini in the £335 million sale of its UK mobile storage business to the Modulaire Group.

  • MBK Partners and its affiliates in the $6 billion acquisition of Homeplus Co. Ltd. and its subsidiaries from Tesco PLC.

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Publications

Events