Jonathan Kandel - Partner

KIRKLAND & ELLIS INTERNATIONAL LLP

PDF Print Friendly Page
Jonathan Kandel

Download V-Card

London
Phone: +44 20 7469 2000
Fax: +44 20 7469 2001
Overview News Events

Professional Profile

Jonathan Kandel is a tax partner based in the London office of Kirkland & Ellis International LLP. He advises multi asset managers, sovereign wealth funds and state owned enterprises on tax issues relating to: private equity, credit, real estate and infrastructure.

He is listed as a ‘Leading Individual’ for Tax in Chambers UK 2017 and has been recommended for Corporate Tax and Investment Funds by The Legal 500 UK.


Representative Matters

Prior to and since joining Kirkland, Jonathan’s representative matters include advising:

Private Equity, Real Estate & Infrastructure

  • Blackstone on its acquisition of a portfolio of European logistics assets from Marathon (in partnership with Industrial Securities, part of MARCOL) for €492 million

  • GIC, Singapore’s sovereign wealth fund, as part of a consortium acquiring a 55% a stake in the real estate assets of French multinational hotel group AccorHotels for approximately €4.4 billion

  • Global Logistics Properties (GLP) on the acquisition of European logistics business IDI Gazeley from Brookfield Asset Management for approximately US$2.8 billion

  • Goldman Sachs, Park Square and NGA Human Resources on the sale of NGA’s UK mid-market and small and medium business divisions to Bain Capital Private Equity

  • TPG Real Estate Partners II in its £450 million acquisition of Arlington Properties from Goodman Group and Legal & General

  • Lone Star in the financing aspects of its acquisition of the Xella Group, a German-based market leader in building solutions, from PAI Partners and funds managed by Goldman Sachs’ investment arm

  • GIC, Singapore’s sovereign wealth fund, on its €2.4 billion acquisition of P3 Logistic Parks, a leading specialist pan-European owner, developer and manager of logistics properties, from TPG Real Estate and Ivanhoé Cambridge

  • Blackstone on its sale the 7,921-bed Victoria Hall student accommodation portfolio for £450 million

  • Oaktree Capital Management on the carve out and sale of its UK student housing business to a consortium of GIC, Singapore’s sovereign wealth fund, and global student accommodation firm GSA

  • Brookfield Property Partners on its acquisition of GL Europe RE Holdings SARL, a U.K. student accommodation platform, from Avenue Capital. The transaction was Brookfield’s first European investment in student housing

  • Blackstone on its acquisition of the O’Flynn Group (and various related transactions), which includes the Victoria Hall student housing business

  • KKR in relation to the initial public offering of Telepizza

  • Aleph Capital on the set up of its platform, joint venture with Crestview and investment in Interoute

  • Molson Coors on its $12bn acquisition of SABMiller’s interest in MillerCoors joint venture

  • Macquarie sponsored funds in relation to Birmingham, Bristol, Rome, Sydney and Brussels airports; in relation to the M6, Ontario Highway 407, Chicago Skyway and APRR toll road transactions and in relation to certain of their telecoms and network acquisitions

  • Orion Capital Managers on the acquisition of Telford, Wakefield, East Kilbride and Kingsgate Shopping Centres

  • Orion Capital Managers on the acquisition of 259 City Road and The Glebe residential developments

  • Orion Capital Managers and CarVal Investors on the disposal of certain joint ventures

  • Qatari Diar and CPC in relation to the acquisition of Chelsea Barracks and One Hyde Park

Credit & Restructuring

  • LSF10 Wolverine Investments S.C.A, an indirect, wholly owned subsidiary of Lone Star Funds, in connection with its offering of €515 million Senior Secured Notes due 2024 for the acquisition by Lone Star of the Stark Group

  • KKR Special Situations and its portfolio company Selecta, on the pending acquisition of Gruppo Argenta, a leading vending and coffee service provider in Italy

  • Toys “R” Us, Inc., and 24 of its direct and indirect subsidiaries (Toys) for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, to address the debtors’ more than US$5.2 billion of global prepetition indebtedness

  • Blackrock in relation to its corporate credit and CLO platform

  • Carlyle, Blackstone and Blackrock in relation to certain CLO transactions

  • Lehman Brothers Holding Inc on matters relating to the administration of the estate of Lehman Brothers International (Europe)

  • KKR Special Situations on the restructuring of its portfolio company, Northgate Information Solutions Holdings Limited

  • KKR Special Situations on the establishment of a distressed debt and corporate turnaround advisory business

  • KKR Special Situations on a joint venture with two Italian banks regarding Italian loans

  • AXA in relation to their real estate credit platform

Funds

Representations include acting for:

  • Starwood Capital Group in connection with its most recent flagship fundraise, Starwood Global Opportunity Fund XI, which exceeded its US$5 billion — US$6 billion target and finished hitting its hard cap with a total of US$7.6 billion in commitments, making Fund XI the largest fundraise in Starwood’s 26-year history

  • ABN Amro, Abraaj, Actis, Aermont, AEW, AMP Capital, Apax, Arcus, Argan, Barclays, Bastion, BC Partners, Blackrock, Brookfield, BTG Pactual, Carlyle, Charterhouse, Crestview, DLJMB, EISER, EQT, GMT, GPI Capital, Graphite, GTCR LLC, Hastings, Hermes, HSBC, Industry Funds Management, Industri Kapital, InfraRed, JPM, Lion Capital, Macquarie, Orion, Pollen Street, RREEF, Starwood, Summit LP, TDR, Terra Firma, TPG, Trilantic, Vitruvian Partners and Warburg Pincus on fund raisings.

Particular Highlights: Secondary Transactions/GP Minority Deals

  • Rhône Group in its strategic partnership with Eurazeo SE (EPA: RF) for a 30% interest in Rhône Group in exchange for $270 million in cash and Eurazeo stock

  • Starwood Capital Group in connection with a minority investment into its funds by Dyal Capital Partners, a unit of Neuberger Berman Private Equity

  • Acting for TDR Capital in the creation of an Annex Fund to TDR Capital II

  • Acting for Argan, DLJMB and GMT as GPs on secondary transactions

  • Acting for Landmark and OTPP as investors in secondary transactions

Spin Outs

  • Acting for management teams spinning out of Barclays, HSBC, ABN Amro, Credit Suisse, Babcock & Brown, Fortis and Bank of America

Own Account

  • China Investment Corporation (CIC); Government of Singapore (GIC); KAUST; Ontario Teachers' Pension Plan (OTPP) and OMERS on own account tax matters.


Prior Experience

Weil, Gotshal & Manges

  • Partner, Head of Tax (2011–2015)
 

Clifford Chance

  • Partner (2008–2011)
  • Associate (2001–2008)
  • Trainee Solicitor (1999–2001)
© 2018 Kirkland & Ellis LLP