Davis Polk is advising the senior management of Strategic Partners, Credit Suisse’s dedicated secondary private equity business, on the sale of Strategic Partners to Blackstone. The transaction, which is subject to customary closing conditions, is expected to close by the end of the third quarter of 2013.
Strategic Partners seeks capital appreciation through the purchase of secondary interests in high-quality private equity funds from investors seeking liquidity on a fair, timely and confidential basis. From its start in 2000, it has raised over $11 billion of capital commitments, completed over 700 transactions, and acquired over 1,400 underlying limited partnership interests. Strategic Partners is led by co-heads Stephen Can and Verdun Perry.
The Davis Polk investment management team includes partner Leor Landa and associates Jennifer Grant Cooper and Kevin Johannsen. Partner Edmond T. FitzGerald and counsel Ann Becchina are providing executive compensation advice. Partner Frank J. Azzopardi and associate Pritesh P. Shah are providing intellectual property advice. Partner John D. Amorosi is providing mergers and acquisitions advice. All members of the Davis Polk team are based in the New York office.
