Apiary Capital has closed its debut fund at a hard cap of 200 million pounds. Proskauer advised Apiary Capital on the fundraising. The private equity firm will focus on the business services, education and health care sectors in the UK lower-middle market.
July 11, 2018 (London) – International law firm Proskauer advised Apiary Capital on its debut fundraising, which closed at its hard cap of £200 million.
Apiary Capital, founded by Mark Salter with partners Nikola Sutherland, Nicki Boyd and Rob Simpson will focus on private equity investments in the business services, education and health care sectors in the UK lower-middle market. The debut fund, which achieved its hard cap, was launched in late 2017 and raised capital from a highly regarded institutional investor base across Europe and the U.S.
“Proskauer’s knowledge and expertise, together with a strong track record advising first-time funds, was critical to the success of the fundraise, enabling Apiary Capital Partners I to hit its £200m hard-cap within six months. In addition, the breadth and depth of Proskauer’s advice across a multi-disciplinary team enabled us to overcome some challenging issues in a difficult environment whilst maintaining fundraising momentum,” stated Mark Salter.
The fundraise was led by partners Nigel van Zyl and Edward Lee with assistance from partner Daniel Ornstein (Labor & Employment) and a broad team in London and the U.S. including partner David Tegeler and associates Duncan Evans, Anan Ju, and Tony Drenzek (Corporate); partners Catherine Sear and Mary Kuusisto, senior counsel Matthew Pincus, and associates Daniella Abel and Rachel Tritter (Tax); special counsel John Verwey and associate Amar Unadkat (Regulatory) and senior counsel Adam Scoll (ERISA).
Proskauer has advised a number of new and emerging sponsors raising their debut funds. In addition to Apiary, the Firm has recently advised EMK Capital, Tenzing, CenterGate Capital and Nonantum Capital Partners.
Proskauer offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising asset managers, investment funds and their advisers, financial institutions and institutional investors across the asset class. The cross border team of over 130 lawyers is based in the U.S., UK, Asia and Latin America and includes specialists in tax, ERISA, regulation, financial services, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.
Additional information about the Firm can be found at www.proskauer.com