London – July 2, 2012 – Debevoise & Plimpton LLP is advising HarbourVest Partners, LLC (HarbourVest) in connection with the definitive agreement between HarbourVest Structured Solutions II L.P., a newly formed Guernsey limited partnership managed by HarbourVest, and Conversus Capital, L.P. (Conversus; NYSE Euronext in Amsterdam: CCAP). Under the terms of the agreement, HarbourVest Structured Solutions II L.P. will acquire the entities that hold Conversus’ portfolio of private equity fund interests and direct co-investments for $1.4 billion (implied value of $22.11 per Conversus unit).
HarbourVest is an independent global private equity firm that invests in venture capital, buyout, mezzanine debt, and distressed debt through primary partnerships, secondary purchases, and direct investments. Debevoise has represented HarbourVest for more than 25 years in a wide range of matters. This is the second major acquisition in the last 12 months involving a listed private equity fund in which Debevoise has represented HarbourVest, following from HarbourVest’s over $800 million acquisition in 2011 of Absolute Private Equity, a Swiss listed private equity fund.
Conversus is a listed private equity fund and is the largest publicly-traded portfolio of third-party private equity funds globally, with a broadly diversified portfolio of over 200 private equity funds.
The Debevoise team is led by London partners Katherine Ashton and Matthew D. Saronson and New York partner David J. Schwartz and includes international counsel Cecile Beurrier and associates Vadim Ardatovski, Theodore Cardos, Michael K. McDonnell, Matthew Pincus and Christopher Salz.
Debevoise & Plimpton LLP is a leading international law firm, representing a wide range of clients around the world. Founded in 1931, the firm has offices in New York, Washington, D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.