Kirkland & Ellis LLP represented American Capital, Ltd. (Nasdaq: ACAS), a publicly-traded private equity firm and global asset manager, on its definitive agreement with an investor to establish American Capital CLO Fund I, LP, a new $450 million fund focused on investing in equity tranches of collateralized loan obligations (CLOs). Closing of the fund is expected to occur within 90 days and is subject to standard conditions. The full release is available here.
The Kirkland team was led by private funds partners Bruce Ettelson, Sarah Kirson and Michael Belsley, and of counsel Warren Goodworth.
Kirkland’s private funds group has formed more than 800 private equity funds on behalf of approximately 430 private equity sponsors since 1995, raising more than $570 billion. The group regularly represents leading institutional investors in connection with their investments in private funds.