NEW YORK, October 29, 2020 – Proskauer, a leading international law firm, today announced that it acted for Newbury Partners in a transaction with RidgeLake Partners (“RidgeLake”), whereby RidgeLake has acquired a passive, minority interest in Newbury Partners.

RidgeLake, a strategic partnership between PA Capital and Ottawa Avenue Private Capital, focuses on acquiring minority equity stakes in middle market private equity firms.

Newbury Partners focuses on acquiring buyout, venture capital, special situations, mezzanine and fund-of-funds limited partnership interests in the secondary market, investing across the global private equity market in North America, Europe, Asia, Australia, the Middle East and Latin America, and has over $5.0B in assets under management.

Proskauer has represented Newbury Partners on a broad range of matters since its inception in 2006.

Members of the Proskauer team included partners Camille Higonnet and David Tegeler, associates Alexia Boyarsky, John Kostelnak and Emily O’Brien (Private Funds), partner Jeremy Naylor, associates Zachary Cloyd and Jeanette Stecker (Tax), partner Robert Plaze (Regulatory), and senior counsel Adam Scoll (ERISA).