Paul Hastings Advised BPOC in Multi-Asset Continuation Fund
April 18, 2023
Paul Hastings LLP advised BPOC, a healthcare investor, in connection with the creation of a multi-asset continuation fund that will provide more time and, in some cases, additional capital to grow some of its companies.
In moving BPOC’s existing five healthcare services companies from two LPs that closed in 2013, the existing LPs were offered the option of receiving full liquidity, fully re-investing, or partially re-investing in the continuation fund, which is valued at $425 million.
Apollo’s S3, Blackstone’s Strategic Partners, and Rothschild’s Five Arrows unit co-led on the continuation fund transaction, which also included investments by JPMorgan, Newbury Partners, Committed Advisors, and Kline Hill Partners.
Private Equity partner Brian Richards led the Paul Hastings team, which also included Antitrust partner Michael S. Wise, Tax partner Jim Smulkowski, and Corporate associates Michael Kesler and Jaime Monte.
More details can be found here.
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