Funds represent Saturn 3, Genesis 10 and Mercury 4
LONDON, January 15, 2024 – Proskauer announced today that it acted as lead counsel on three major multibillion dollar fundraisings for Hg, a leading investor in European and transatlantic software and services businesses.
Over a period of 24 months, Proskauer advised on Hg Saturn 3, Hg Genesis 10 and Hg Mercury 4 which all reached their hard caps and raised over $20 billion.
Proskauer also advised Hg in 2020 on multiple fundraisings across Hg Saturn 2, Hg Genesis 9 and Hg Mercury 3 and its previous equity funds including Hg Saturn 1, Hg Genesis 8 and Hg Mercury 2 which closed at their hard-caps in 2017.
“The team at Proskauer has been an integral part of our fundraising efforts for many years, but in particular over our most recent fundraising period. They are an extension of our own team and perfectly understand our approach and how to represent our culture to our clients,” said Moynul Ali, Head of Fund Structuring, Hg. “They have strength in depth across a global platform which matches our own international reach and are constantly innovating their approach to provide a user-friendly process for LPs, which has been evidenced by the positive feedback from our own clients in respect of the recent fundraisings. Our relationship with the Proskauer team is of huge value to us and it is a pleasure to work with them.”
“Hg has worked with the Funds team at Proskauer since inception, and they have been a key part of our fundraising success over the last few vintages and in the last 24 months in particular where we have closed on over $20bn of fund commitments from hundreds of LPs,” commented Luke Finch, Partner and Head of Client Services, Hg. "Proskauer’s low-friction approach with our LPs, helping to solve rather than create problems, strongly aligns with our culture at Hg of putting our clients first. They have also driven a number of thought-leading initiatives, including electronic KYC and Fund Subscription forms, which have added meaningful efficiency gains for us and our LPs.”
The triple fundraise was led by partners Nigel van Zyl and Chris Elson (Private Funds) and Catherine Sear (Tax) and included partners Warren Allan, Aranpreet Randhawa, Sean Spence and Galen Lewis (Private Funds), Richard Miller and Jeremy Naylor (Tax), Rob Sutton (US Securities), Adam Scoll (ERISA) and senior associates Olivia Short, James May, Oliver Temple, Imaan Gangi and Sisi Kim (Private Funds), Will Gomes, Emily Cummins and Jeanette Stecker (Tax) in addition to a broader team of over 40 associates and paralegals in London, Boston and New York managing in excess of 250 investors located across the globe.
We are 800+ lawyers serving clients from 12 offices located in the leading financial and business centers in the Americas, Europe and Asia. We work with asset managers, private equity and venture capital firms, Fortune 500 and FTSE companies, major sports leagues, entertainment industry legends and industry-redefining companies.
Working at the intersection of private capital and the sectors in which market players invest, we advise cutting-edge clients as they navigate complex challenges and seek to capitalize on market opportunities. Proskauer offers an integrated platform that navigates clients through the full lifecycle of their business.
Our Firm offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising investment funds, private equity, hedge funds and other asset managers, financial institutions, and institutional investors across all asset classes. The cross-border team of over 200 lawyers is based in the U.S., UK, Asia, and Latin America and includes specialists in tax, ERISA, regulation, financial services, capital markets, M&A, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.