Kirkland Advises Centurium Capital on Mubadala's US$1 Billion Investment in Luckin Coffee

Kirkland & Ellis is representing Centurium Capital, a leading private equity investment firm with a primary focus on consumer, healthcare and technology sectors, in connection with Mubadala Investment Company's significant minority investment in Luckin Coffee Inc. (OTC: LKNCY). The transaction, announced on September 10, 2026 and subject to customary closing conditions, involved the sale of stakes in Luckin Coffee held by a group of Centurium Capital-managed investment vehicles to a newly formed continuation vehicle also managed by Centurium Capital and in which Mubadala is the lead investor. The aggregate transaction value is approximately US$1 billion.

An interdisciplinary team from K&E advised Centurium Capital on all aspects of the transaction, including the formation of the continuation vehicle, the purchase and sale of Luckin Coffee shares and acquisition financing matters.

The complex transaction drew on the Firm’s investment funds, corporate, debt finance and capital markets practices. The Kirkland team included investment funds lawyers Jennifer Feng, Jerry Choi, Mack Wan, Nicholas Chan and Aleksander Bakic; corporate lawyers Pierre-Luc Arsenault and Yawen Li; debt finance lawyers Jacqueline Zheng and Sean Zhang; and capital markets lawyer Ann Becchina.