September 1, 2015(London) – Proskauer has advised Montagu Private Equity, a leading European private equity firm, on the successful close of its fifth fund (Montagu V) with a total capital commitment of €2.75 billion.
Montagu V reached its first close on June 30 with a total of €2.2 billion in investor commitments and closed for a final time on August 28, reaching the hard cap set for the fund. Proskauer acted as lead counsel for the fundraising.
The fund attracted a broad mix of investors by type and geographical mix, including increased commitments from pension funds, insurance companies and Sovereign Wealth Funds across the United States, Europe, the Middle East and Asia. Montagu is a well-established private equity firm with a strong track record of supporting portfolio companies and dedicating significant resource to management teams as well as providing additional capital expenditure to fund further growth.
Vince O’Brien, director at Montagu, notes: “This was our first time working with Proskauer. Their European team impressed us highly with their experience and their practical approach to solving problems. Supported throughout by the international firm, they were a prime factor in our getting the fund quickly to a final close.”
“Montagu Private Equity is one of Europe’s most established private equity firms, with an impressive track record in the marketplace. Their most recent capital raise is testament to this, and indicative of healthy investor appetite in the fundraising market right now,” comments Proskauer partner, Nigel van Zyl.
This fundraise was led by Mr. van Zyl, along with associate Andy Shore, and included partner Kate Simpson and associates Ed Lee, Chris Elson and Nick Rose (Corporate); partner Robert Gaut and associates Catherine Sear and Greg Branagan (Tax); and special counsel John Verwey (Regulatory). Additional support was provided by a U.S. team, including partners David Tegeler, Chip Parsons and Bruce Lieb, and associates Sam Mirkin and Camille Higonnet (Corporate); partner Mary Kuusisto and associate Marguerite Lombardo (Tax); and partner Ira Bogner and associate Adam Scoll (ERISA).