Our Private Equity team had a busy 2018 advising on mid-market and larger buy-outs, exits, and bolt-ons, as well as multiple fundraisings, secondaries, and co-investments.
We expect 2018 private equity activity levels to be maintained through 2019, despite high price expectations from sellers, increasing protectionism, and Brexit.
The technology, automotive, transportation and logistics, food, healthcare, and business services sectors are likely to see increased activity in 2019.
We anticipate that funds with a good track record, looking to raise new capital, will be positioned for a successful 2019. First-time funds will need to have a compelling set of managers with a good track record behind them to find similar success throughout the year.
We regularly advise Pantheon Ventures on primary investments, co-investments, and large portfolio secondaries. More recently, we advised on Pantheon Ventures and IDINVEST’s tender offer for Lyceum Fund III, which was nominated for European Secondaries Deal of the Year by Secondaries Investor Awards 2018.
Silver Lake Partners and Quorum Software
We advised Silver Lake Partners and its portfolio company Quorum Software on the sale of Quorum to Thoma Bravo. We previously represented Quorum Software on its sale to The Carlyle Group and subsequently represented The Carlyle Group and Quorum Software on the sale of Quorum Software to Silver Lake Partners.
We advised 21 Invest on its sale of Forno d'Asolo S.p.A, a leading frozen food product manufacturer and distributor, to BC Partners. Hogan Lovells previously advised 21 Invest on its acquisition of Forno d'Asolo back in 2014.
Permira and Tricor Group
We advised Permira's portfolio company, Tricor Group, on the bolt-on acquisition of Madison Pacific. Permira, a global private equity firm, has around €30bn worth of assets under management.
Read next: Venture Capital and Emerging Companies