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Leading International Practice Represented Over $40 Billion in Committed Capital
March 19, 2007 - (Boston, MA) - Proskauer Rose LLP, an international law firm with over 700 lawyers worldwide, announced that its Private Investment Funds Group represented sponsors in closing 83 private equity funds with $24.4 billion in committed capital and closed over 450 investments in private equity funds representing over $16.5 billion in 2006, demonstrating its position as one of the world's leading practices of its kind.
Chambers Global and Chambers USA, widely considered among the top arbiters of legal achievement, have consistently ranked Proskauer's private equity fund formation practice as among the world's best and, in 2006, Robin Painter, co-chair of the firm's Private Investment Funds Group, was named by Private Equity International magazine as one of the world's 30 most influential lawyers practicing in private equity.
"Our Private Investment Funds Group, together with our transactional Private Equity Group, has established itself as one of the pre-eminent private equity practices in the world and represents one of our key strategic practice areas," said Ronald R. Papa, chair of Proskauer's Corporate Department. "The world's leading private equity funds and investors - essentially the leading players in the market - continue to turn to us as the go-to firm for fund formation and transactions, from investments to buyouts."
A sample of fund formations for which Proskauer's Private Investment Funds Group represented the plan sponsors in 2006 includes:
- Representing Abingworth Management in the formation of Abingworth Bioventures V, the largest life sciences venture fund ever formed in Europe.
- Representing Auda Advisor Associates in the closing of Auda Capital IV and Auda Capital IV Co-Investment funds. Auda is an independent global alternative asset investment advisor managing more than $4.5 billion worldwide.
- Representing Ares Management in the closing of Ares Corporate Opportunities Fund II, L.P., a $2.065 billion fund that brings the company's total capital under management to $11 billion.
- Representing New Enterprise Associates in the closing of one of the largest venture capital funds ever raised, a $2.5 billion fund that will continue the company's strategy of investing in early-stage health care and information technology companies.
- Representing Resource Capital Funds in raising $527 million for its fourth fund, continuing its focus on mining companies and mineral projects throughout the world.
- Representing Enterprise Investors in the closing of Polish Enterprise Fund VI, a Euro 660 million fund that ranks as the largest ever raised for Central and Eastern Europe.
Led by co-chairs Robin Painter and David Tegeler, The Private Investment Funds Group at Proskauer Rose is a highly sophisticated and diverse practice comprised of established leaders in the private equity sector. The firm's lawyers actively represent sponsors and institutional investors worldwide in a broad range of activities, from fund formation, internal governance and succession planning, investment transactions, acquisition or sale of interests on the secondary market, liquidity events, distributions, tax planning, regulatory compliance, portfolio company dispositions through mergers and acquisitions or initial public offerings, management buyouts and leveraged recapitalizations, to compensation and estate planning for partners. Proskauer's team of private equity lawyers serve on advisory boards to private equity trade associations and panels, contribute to publications and provide counsel to regulatory authorities on issues affecting the industry.
Proskauer's private equity practice includes nearly 100 lawyers in the firm's Private Investment Funds Group as well as its transactional Private Equity Group and spans the firm's offices in the United States and Europe. Proskauer recently promoted six lawyers to partner who work regularly in areas relating to private investment funds including Laurier W. Beaupre, Howard J. Beber, Sean J. Hill, and David T. Jones in Boston, and Amanda H. Nussbaum and Charles H. Parsons in New York.
Proskauer has also expanded its private equity transactional practice with the addition of a number of new laterals in 2006 including Daniel J. Eisner as a partner in New York, Nigel S. Austin as senior counsel in New York, and Michael K. Harrington as senior counsel in Boston in addition to promoting Rima Moawad and Ori Solomon, whose practices include private equity transactional work, to partner in New York. Proskauer's California-based corporate transactional group, which represents a number of private equity funds, also experienced significant growth in 2006 with the addition of Eric Remensperger as partner and head of the West Coast Real Estate Practice and Raj Tanden as a partner in the Tax Department.
About Proskauer Rose
Proskauer Rose, founded in 1875, is an international law firm providing a wide variety of legal services to clients worldwide from offices in Boca Raton, Boston, Chicago, London, Los Angeles, New Orleans, New York, Newark, Paris, São Paulo, and Washington, D.C. The firm has wide experience in all areas of practice important to businesses and individuals including corporate finance, mergers and acquisitions, general commercial litigation, corporate governance matters, conducting internal corporate investigations, white collar criminal defense, private equity and fund formation, patent and intellectual property litigation and prosecution, labor and employment law, real estate transactions, bankruptcy and reorganizations, trusts and estates, and taxation. Its clients span industries including chemicals, entertainment, financial services, health care, information technology, insurance, internet, lodging and gaming, manufacturing, media and communications, pharmaceuticals, real estate investment, sports, and transportation. The firm can be found online at http://www.proskauer.com.
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