Akin Advises Phoenix on £200 Million Continuation Fund
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(London) – Akin advised Phoenix Equity Partners (Phoenix) on the formation of a £200 million continuation fund through which Phoenix extended its partnership with large-scale trade exhibitions company, Nineteen Group, and private pay dental group, Envisage Dental. The continuation fund was led by Kline Hill Partners and co-led by Ares Management.
The newly established Growth Partnership Fund has acquired Nineteen and Envisage from a Phoenix flagship fund. The transaction enables the two businesses to continue their rapid market growth, with a combined enterprise value of now close to £450 million.
The cross-practice Akin team was led by investment management partners Daniel Quinn and Simon Ellis and included investment management counsel Chris Jeanes and Michelle Liptakova and associate Matthew Allan, and tax partner Stuart Alter and counsel Peretz Riesenberg.
To learn more about this transaction, please click here.
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