Practices in London — Private Investment Funds

Orrick has a leading private investment funds practice covering virtually every type of fund, including buyout funds, venture capital funds, mezzanine funds, fundof- funds, co-investment funds, real estate opportunity funds, hedge funds, exchange funds and restructuring funds. We represent sponsors of funds in both fund formation and investments as well as major investors in private investment funds. In 2004, the last full year for which such statistics are available, Private Equity Analyst ranked Orrick second based on the number of private equity and venture capital deals and third based on number of funds closed on behalf of limited partners and general partners. Our fund formation practice is also ranked as one of the market leaders.

Orrick has developed an impressive global practice representing boutique and institutional private investment fund sponsors. Our lawyers have extensive experience structuring private investment funds and families of funds, in US and non-US partnerships and limited liability companies, for both sponsors and placement agents. Our practice regularly includes the formation and counseling of hedge funds, private equity funds and fund-offunds, with various investment objectives and focuses.

Recent transactions by our lawyers include the representation of:

• A UK investment fund in venture leasing investment and warrant issues.
• A leveraged buyout fund in an acquisition of high-tech companies.
• The founder in the first and second rounds of financing, by venture capital funds.
• A global sponsor and manager of private equity funds.
• A US investment fund in the creation of a French venture capital vehicle.
• A venture capital fund created by a large industrial company specialising in high tech and telecommunications with respect to its nvestments in start-ups.
• A sponsor in relation to the formation, financing and restructuring of a start-upcompany specializing in intermediation in the sale of vehicles and used spare parts.
• One of the largest pension funds in the world, with over $200 billion under management, in a variety of direct and fund investments.
• One of the largest distressed asset funds in the world in connection with its investments.
• An international asset management firm in connection with its global trading and investment strategies.
• An investor in private equity, hedge and real estate funds, in novel securitised loan transactions, and in customised fund-of-funds and co-investment funds.
• An investor in pooled and customised private equity funds and real estate opportunity funds.
• SUVA in its investments as a limited partner. Nine investments were closed (Apollo 6, Advent, Blackstone, Bridgepoint, Candover, CVC IV, Lexington, Montagu and SGAM Premium).
• Mellon HBV, a fund dealing in distressed debt.
• Dynamic Credit Partners in its formation.
• Amerscan Partners III, Limited Partnership in the sale of NovaStor Corporation to Mount 10 Holdings AG.