Kirkland Advises Preservation Capital Partners on Final Close of Oversubscribed €877 Million PCP Fund III
Kirkland & Ellis advised Preservation Capital Partners on the successful final close of PCP Fund III at its hard cap of €877 million (c. $1.0 billion). PCP Fund III was oversubscribed and is approximately double the size of its predecessor fund, which closed in 2024.
PCP Fund III attracted commitments from a global pool of institutional investors, including pension funds, insurance companies, asset managers, endowments, foundations and family offices. The fund received significant support from existing investors and also welcomed a number of new investors from the United Kingdom, North America, Continental Europe, the Middle East and Asia.
Fund III will continue Preservation Capital Partners' established strategy of investing in mid-market businesses across Western Europe operating in the asset-light (“non-capital intensive”), Business and Financial Services sectors.
Read Preservation Capital Partners’ press release
The Kirkland team included investment funds lawyers Christopher Braunack, Alex Brodkin, Luke Scott and Sam Winter; tax lawyers Mavnick Nerwal, Gal Shemer, Ted Snell-Dyson and Limeng Sun; financial services regulatory lawyers Thomas Woodhead, Julia Dixon, Julian Hui, Michael Chu and Stefan Nesic; sustainability lawyer Daniel D’Ambrosio; and investment funds ERISA lawyer Sabrina Glaser.
