Andrew Gershon is a partner in the Investment Funds Practice Group in the New York office of Kirkland & Ellis LLP. Andrew’s practice primarily focuses on the representation of investors and sponsors in connection with private equity secondary transactions, including fund recapitalizations, single and multi-asset continuation funds, traditional acquisitions and dispositions of fund interests, tender offers and co-investment opportunities.
Experience
Representative Matters
Prior to joining Kirkland, Andrew was involved in the following matters:
American National, a multiline U.S. insurer, in its sale of a $1.6 billion senior direct lending portfolio to Coller Capital in a credit secondaries transaction.
Coller Capital as lead investor in the formation of Abry Partners’ $1.6 billion continuation fund, AbryAdvanced Securities Fund III.
MetLife Investment Management in a $1.2 billion managed secondary transaction, including a $975 million portfolio disposition of MetLife affiliate assets to its newly raised fund, MetLife Investment Private Equity Partners II.
Aflac Global Investments in its acquisition of a minority interest in Tree Line.
StepStone Group as lead investor in MLC Private Equity’s $762 million fund closing.
Morgan Stanley Capital Partners in its sale of World 50 and its related subsidiary companies to a single asset GP-led continuation fund investment vehicle managed by an affiliate of MSCP.
Hamilton Lane as a co-lead investor in a single-asset secondary transaction completed by Vance Street Capital LLC, to extend Vance Street’s partnership with Jet Parts Engineering.
Hamilton Lane as lead investor in the formation of MiddleGround Capital’s $440 million MiddleGround Carbon CV, L.P. fund.
TPG GP Solutions as an investor, alongside Goldman Sachs Asset Management, Blackstone Strategic Partners and Portfolio Advisors, in Calera Capital Image Holdings, L.P., a $750 million single-asset continuation fund raised in connection with the sale of ImageFIRST Healthcare Laundry Specialists, a provider of linen, laundry, and safety and hygiene services for the healthcare industry.
StepStone Group as lead investor in a $500 million single-asset continuation vehicle sponsored by WindRose Health Investors, a healthcare-focused private equity firm, to support the expansion of Healthmap Solutions, a population health management company focused on kidney disease.
TPG as lead investor in a single-asset continuation fund sponsored by North Castle Partners to acquire CR Fitness, a Crunch Fitness franchisee, from North Castle Partners VII.
StepStone Group as co-lead investor, alongside Schroders Capital, in a $618 million continuation fund organized by Trinity Hunt Partners to support the acquisitions of Argano and Improving, two technology services companies, from Trinity Hunt Partners V, L.P.
Tikehau Capital in its $300 million inaugural collateralized fund obligation.
Zenyth Partners in the formation of a continuation fund, backed primarily by Blackrock and Manulife Asset Management, that purchased minority stakes in three healthcare companies from Zenyth Partners, LP, a 2018 vintage permanent capital vehicle.
KKR in the establishment of a newly-created $2 billion continuation vehicle to which a portion of its investment in Internet Brands was sold, in a transaction valuing the company at $12 billion. The deal won “Secondaries Deal of the Year” in the Americas in Private Equity International’s annual awards.
The lead investor in a single-asset continuation fund deal valued at nearly $1.75 billion, sponsored by Water Street Healthcare Partners and JLL Partners, to support the growth of Eversana, a life science services platform.
J.F. Lehman & Company in a single-asset continuation fund, allowing the firm to maintain its ownership of NorthStar Group in partnership with management.
Global Atlantic, a retirement and life insurance company, in its recapitalization of Drawbridge Realty’s $1.7 billion portfolio of office properties.
Elliott as lead investor in the $450 million restructuring of Olympus Capital Asia’s third fund.
