Private Equity

Private equity funds, LP investors and portfolio companies collaborate with our teams across the United States, Europe and Asia. Whether you are a financial sponsor or fund investor, our lawyers understand that strategic legal and business insight into high-growth sectors is critical to both managing risk and enhancing returns.

Deep Domain Strength

Our private equity practice centers on three core sectors: Technology & Innovation, Energy & Infrastructure, and Real Estate. In today’s complex and fast-changing market, deep domain strength offers increased insight and visibility, enabling our deal advisors and specialists to anticipate and efficiently resolve complex legal and business issues that consistently occur across these sectors. Our focus is on PE-backed acquisitions, disposals, exits, refinancing, global reorganizations and growth equity investments, whether at the platform or portfolio company level, and management equity programs.

Efficient Deal Execution

Coupling our sector focus with innovative service delivery models, including use of machine learning for due diligence, creative staffing and pricing allows us to provide differentiated value for funds and their portfolio companies, mitigate risk, and execute deals efficiently.  

Full-Scale Support

We offer comprehensive support for sophisticated sponsors and their portfolio companies that is nimble and scalable, including across technology transactions, with a team of specialized lawyers prepared to advise on intellectual property, data privacy and cybersecurity issues. We bring to bear a full portfolio of top quality transaction, regulatory and litigation practice offerings and experience representing companies at every stage of the corporate life cycle.

In 2019 Orrick’s private equity group:

  • Represented half of the Top 10 Private Equity firms
  • Advised on more than 100 private equity deals

Our Focus:

  1. Leveraged Buyouts/Mergers & Acquisitions
  2. Platform Add-Ons and Buy & Build Transactions
  3. Portfolio Company Representations
  4. Management Participation and Incentive Plans
  5. Growth Equity – Majority & Minority Investments
  6. Fund Formation
  • Technology:

    Warburg Pincus – Advised Warburg Pincus on numerous growth equity investments and acquisitions in the United States, Europe, and Asia, including direct investments in BitSight, BriteCore, Contrast Security, Duetto, Cargomatic, OfferUp and Avalara, and M&A, equity and debt financings and corporate advisory work for Warburg portfolio companies, including Duetto, IPAN, ProCare Software, Sagent Lending Solutions, Trax Retail, and Zimperium.

    Ardian – Acquisition of imes-icore Group, a maker of CNC and CAD/CAM systems focusing mostly on the medical industry.

    Aptean Software Advised Aptean and its sponsor Vista Equity Partners on over 10 add-on acquisitions, and currently advising Aptean, TA Associates and Vista Equity Partners on further roll-up acquisitions by Aptean.

    Aptean – Advised Aptean, a portfolio company jointly owned by funds managed and advised by TA Associates and Vista Equity Partners, in connection with its recommended acquisition of Sanderson Group Plc (“Sanderson”). Sanderson, is a leading specialist of digital technology solutions, innovative software and managed services for the retail, wholesale, supply chain logistics, food and drink processing and manufacturing sectors. The transaction, governed by the U.K. Takeover Code, was implemented by way of a court sanctioned scheme of arrangement under the U.K. Companies Act 2006.

    E&I:

    Macquarie Infrastructure Partners II (MIP II) and Skanska Infrastructure Development (Skanska) – in the divestiture of their respective interests in Elizabeth River Crossings (ERC) as part of a full sale of ERC to a special-purpose vehicle owned by Abertis Infraestructuras and Manulife Investment Management.

    A portfolio company of a global infrastructure investment fund – in a US 4(a)(2) private placement and commercial term loan acquisition financing of a 760MW combined-cycle natural-gas power generation facility in Minnesota.

    A portfolio company of an infrastructure investment company – in the sale of its natural gas transmission business which included seven regulated natural gas lateral pipelines stretching approximately 550 miles.

    Real Estate:

    Westbrook Partners – This top ranked private equity real estate firm has called on us as their primary transaction counsel for decades. We advise, on behalf of Westbrook’s funds, on nationwide investments in joint ventures, acquisitions, dispositions, financings and developments for its multibillion dollar real estate platforms.

    • One recent example includes advising Westbrook on its investment in St. John’s Center, a $1+ billion mixed-use development project in Manhattan, which has included the $365 million mortgage and mezzanine financing of the buy-out of Fortress Investment Group for a majority stake.
    • We also represent Westbrook, investing on behalf of its funds in Asia, on financings and refinancings for office and residential properties throughout Japan.

    Alecta – $1.7 billion sale of 21 assets, including about 3 million square feet of office, retail, multifamily and industrial properties to Blackstone Group.

    Fortress Investment Group – Joint venture, acquisition and financing transactions, on behalf of its funds, across office, retail, residential, health care and hospitality sectors.

    Gerding Edlen – Formation of its second and third funds, both $250+ million value-add and development funds, focusing on green office and multifamily properties.

    USAA – Joint venture for the $1.1 billion acquisition and related financing of five regional malls located in four different states from Westfield.