Co-Investments & Direct Equity

Seyfarth regularly represents institutional investors in domestic, international and cross-border direct investments, joint ventures and co-investments in a variety of asset classes and industries.

We regularly are lead counsel on such transactions, responsible for legal due diligence, tax and other structuring analysis and advice, and drafting and negotiation of all investment documentation.

In handling such transactions, our investment attorneys have access to our internal resources in tax, international, employee benefits, bankruptcy, real estate and litigation to both identify legal and business issues and provide solutions. We also bring to bear a perspective gained through our regular transactional representation of many companies, both established as well as development-stage, that seek and obtain institutional investor or private equity fund investment. As an example, we recently represented a government fund in a $1.7 billion joint venture that acquired a newly formed company that is a leader in the corporate travel industry.  In addition to negotiating with the seller, we had to help our client work through issues with its four joint venture partners, which included a sovereign wealth fund, a foreign bank and two large private equity groups.  While the interests were aligned, each JV partner had concerns and needs particular to its structure and mandate, making an already complex transaction even more difficult.

We have represented our institutional investor clients in both U.S. and non-U.S. co-investments in industries such as technology, telecommunications, other infrastructure, defense/aerospace, government contracting, healthcare, manufacturing, traditional and renewable energy, energy infrastructure, natural resources, life sciences, business services, education, consumer goods, software, social media, financial services and real estate.

Co-investments, joint ventures and direct equity investments typically range from $50 million to $400 million. We have represented clients in connection with their co-investment transactions with, among others:

  • Apollo
  • CVC
  • ARA
  • KKR
  • AXA
  • Morgan Stanley
  • Blackstone
  • Permira
  • CBRE
  • Stone Peak
  • Certares
  • Turnbridge