LONDON, April 25, 2022 – Proskauer, a leading international law firm, announced that it has advised Ascot Lloyd and its stakeholders, including Oaktree Capital Management, on its sale to Nordic Capital.
The transaction will see Nordic Capital acquire Ascot Lloyd from funds managed by Oaktree Capital Management, L.P., alongside the interests of Ares Management Corporation, subject to regulatory approval.
Oaktree has invested in the business since 2013 and acquired Ascot Lloyd in 2017. The business has seen considerable growth and has become one of the leading independently-owned financial advisory firms in the UK. Today, Ascot Lloyd is approaching £10 billion in funds under influence and provides financial planning, wealth management and corporate benefit solutions to more than 20,000 core clients. It has over 500 staff across its 17 UK locations.
The Proskauer team was led by partners Andrew Wingfield and Andy Houghton (M&A) and included partners Vikki McKay (Real Estate) and Stephen Pevsner and associate Emma McDonnell (Tax); special international labor, employment & data protection counsel Kelly McMullon, special regulatory counsel Amar Unadkat; associates Jacqueline Ball, Eleanor Craven and Bradley Mycock (M&A), Sonia Lamba and Rafael Serrano (Private Credit) and paralegal Katrina Hart (M&A).
Proskauer has a wealth of experience in the financial services sector, advising on deals across the sector, including fintech, insurance/insuretech, payments and wealth management. Most recently, the Firm has advised Global Shares Plc and its stakeholders on the sale of Global Shares to J.P Morgan; advised on the sale of ENRA Specialist Finance to Elliot Advisors; acted for insurance fintech CFC and its stakeholders on a significant investment joint-led by EQT and Vitruvian Partners, two of Europe’s leading private equity firms; advised Fairstone Capital and its stakeholders (including Synova Capital) on the sale of Fairstone to TA Associates; and advised AnaCap Financial Partners on its agreement with Carrefour Group for the purchase of a majority stake in Market Pay, an end-to-end payments platform.
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