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Latham & Watkins Advises Patria Investments on Acquisition of abrdn’s Private Equity Solutions Business

October 17, 2023
Cross-border team represents global alternative asset manager on the strategic acquisition of abrdn Private Equity.

Latham & Watkins has advised Patria Investments Limited (NASDAQ: PAX), a global alternative asset manager and industry leader in Latin America, on its agreement for the carve-out acquisition of a private equity solutions business (abrdn Private Equity) from abrdn Inc. The abrdn Private Equity solutions platform manages US$7.8 billion in Fee Earning Assets Under Management, as of June 30, 2023, across mid-market primaries, secondaries, and co-investment strategies. The deal includes total consideration of up to £100 million, and will launch Global Private Markets Solutions as a new investment strategy vertical for Patria in 2024. The transaction is expected to close in the first half of 2024 pending regulatory approvals.

The Latham team was led London corporate partners Beatrice Lo and Simon Tysoe, with associates Devdeep Ghosh, James Richards, and Róisín Mbonu. Advice on funds matters was provided by London partner James McCrory, with associates Alistair Renton, Jonathan Phay, and Aakanksha Sinha; on UK financial regulatory matters by London partner Nicola Higgs, with associates Jonathan Ritson-Candler, Sean Wells, and Gary Whitehead; on US financial regulatory matters by Washington, D.C. partner Aaron Gilbride, with associate Ruchi Sharma; on data and technology matters by London partners Christian McDermott and Fiona Maclean, with associates Grace Erskine, Ben Leigh, Martha Crnkovic, Ami Sodha, Alex Ford-Cox, Irina Vasile, and Nara Yoo; on executive compensation, employment, and benefits matters by London partner Sarah Gadd and counsel Shaun Thompson, with associates Charlie Bowden and Jess McIntosh; on tax matters by London partner Karl Mah, with associates Aoife McCabe and Catherine Hill; on finance matters by New York partners Guido Liniado and Antonio Del Pino; and on antitrust and foreign direct investment matters by Brussels partner David Little, with associate Oscar Hayward.