Kirkland & Ellis International LLP advised Danske Private Equity in the closing of Danske PEP V, a European and U.S. fund of funds. The fund closed at €650 million, surpassing its €600 million target.
Contributions for the fund were received from European institutions. Around half of the fund is committed to investments in Western Europe and the other half for investments in the United States. Danske Private Equity V will follow a similar strategy to its predecessors, seeking to invest in small and mid-market buyout funds in Europe and the United States. In addition, the newly raised funds will pursue secondary opportunities and seek to co-invest with Danske PEP IV portfolio funds.
The Kirkland team was led by London private funds partner Mark Mifsud and associate Mateja Maher.
Danish law advice was provided by Gorrissen Federspiel under a team led by partner Søren Fogh. Commenting on the successful fundraising, Dan Kjerulf, Partner and Chief Legal Counsel of Danske Private Equity, said "We have enjoyed working with Kirkland & Ellis once more on the launch of Danske PEP V. Mark and Mateja both have a very practical approach to resolving those challenges, big and small, that will turn up in any fundraising."
The Private Funds Practice at Kirkland & Ellis is one of the largest and most experienced sponsor-side practices in the world. Since 1995, Kirkland's private funds lawyers have represented 342 unique private equity sponsors in 625 total funds, raising approximately $414.5 billion in total targeted commitments.
Kirkland & Ellis (www.kirkland.com) is a 1,500-attorney law firm representing global clients in complex private funds, private equity, corporate/M&A, tax, litigation and dispute resolution/arbitration, restructuring and intellectual property and technology matters. The Firm has offices in London, Chicago, Hong Kong, Los Angeles, Munich, New York, Palo Alto, San Francisco, Shanghai and Washington, D.C.