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Private Capital

We partner with private capital investors and managers to achieve outstanding outcomes.

We provide unrivalled expertise on the design and execution of complex and innovative cross-border structures and deals, supporting our clients at the most senior level.

Covering every aspect of private capital investment, we bring new and original ways of thinking to the complex legal challenges our clients face. We are expert advisors across the capital structure in all relevant asset classes including private equity, private credit, infrastructure and real estate, and provide unparalleled guidance on distressed and institutional investment strategies and fund level financings. Our global upstream fund formation, fund financing, and CLO and structured finance teams advise on and execute the most complex structures.

With dedicated teams in the major financial centres and regional hubs around the world, we provide extensive coverage for our Private Capital clients – with the largest global footprint among leading law firms. In addition to transactions, our regulatory, compliance, investigation, disputes, risk management, employment and tax teams support our clients’ need for complex strategic advice across all disciplines.

Our industry leading international client base includes all types of funds, managers and investors, from regional private equity funds to global multi-strategy managers, sovereign wealth funds, pension funds, family offices and insurance companies.

Our recent experience

Bridgepoint Group

We advised Bridgepoint and the shareholders of Element Materials Technology on the sale of Element to Temasek for a reported USD7 billion. This included the negotiation of a certain funds staple financing package.

The Carlyle Group

We advised a consortium consisting of Carlyle, JLC Infrastructure, Ullico and Ferrovial on the USD9.5bn deal to develop, construct and operate the new Terminal One at John F. Kennedy Airport in New York City. 

CDPQ

We advised CDPQ on an investment of USD5bn in three of DP World’s flagship UAE assets.

EQT

We advised the EQT Infrastructure VI fund on its EUR3.4bn acquisition of a 60 percent stake in a new company which will operate the Italian telecom provider Wind Tre's mobile and fixed network.

Macquarie Capital

We advised Macquarie Capital on its acquisition of an 85% interest in Excel Telesonic India Private Limited. Known as CloudExtel, they are a leading Indian digital infrastructure operator.

Mubadala Investment Company

We advised Mubadala on the sale of stakes in Abu Dhabi Future Energy Company (Masdar) to Abu Dhabi National Energy Company (TAQA) and Abu Dhabi National Oil Company (ADNOC).

Starwood

We advised Starwood on its financing of the acquisition by entities owned by funds managed or advised by Blackstone Inc. and its affiliates of Crown Resorts Limited, a publicly-listed Australian gaming company.

News and insights

Bird eye view of a city roundabout at night that has four exits

Publications: 03 April 2024

Chief Information Security Officers and cyber whistleblowing: considerations for PE firms

Companies large and small are grappling with an ever-evolving cyber risk landscape. However, two recent cases against companies and their Chief Information Security Officers (CISOs), bring to the fore…

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Highways and roads

Publications: 03 April 2024

The growing role for CLOs in restructurings

Collateralised loan obligations (CLOs) are back in favour in financial restructurings, helped by their dominance in leveraged credits and greater flexibility in documentation. First featured in…

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Reflection of sun on glass buildings

News: 01 April 2024

Allen & Overy advises Grain and BlackRock on their strategic investment in Phoenix Tower International

Allen & Overy has advised Grain Management, a leading global investment firm specializing in digital infrastructure, and BlackRock, the world’s largest asset manager on a strategic investment in…

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Field full of wheat being reaped

News: 26 March 2024

A&O advises CVC on the financing of its investment in Monbake

A cross-border leveraged finance team from Allen & Overy is advising CVC, a leading global private markets manager, on the financing of its acquisition of the entire stake in Grupo Monbake (“Monbake”)…

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Recognition

Infrastructure funds  Acting for 9 of the 10 largest global infrastructure funds and 85% of the top 25 largest global infrastructure funds as ranked by II 100 2023.
Private credit
Acting for 9 of the 10 largest global private credit funds and 90% of the top 25 largest global private credit funds as ranked by PDI 100 2023.
Private equity Acting for 9 of the 10 largest global private equity funds and 60% of the top 25 largest global private equity funds as ranked by PEI 300 2023.
Real estate funds Acting for 7 of the 10 largest global real estate funds and 70% of the top 25 largest global real estate funds as ranked by PERE 100 2023.
Institutional investors
Acting for 10 of the 10 largest sovereign wealth funds and 70% of the top 25 largest sovereign wealth funds as ranked by Sovereign Wealth Fund Institute.

League table rankings

  • No.1 Global Clean Energy by deal value (Bloomberg 2022)
  • No.1 Global Infrastructure by deal number and value (Inspiratia 2022)
  • No.1 Western Europe Sponsor-Backed Borrower’s Legal Counsel by deal count (and No.2 by deal value) (Debtwire 2022)
  • No. 2 Western Europe Sponsor-Backed Lead Bank's Legal Counsel by deal count (and No.2 by deal value) (Debtwire 2022)
  • No.3 Western Europe Leveraged Buyouts Issuer’s Legal Counsel (High Yield) by deal count (Debtwire 2022)
  • No.5 Europe Private Equity by deal count and No.8 deal value (Bloomberg 2022)
  • No.8 Global Private Equity by deal count (Bloomberg 2022)

Awards

  • Law Firm of the Year – Transactions, Asia-Pacific, PDI 2023 Awards
  • Law Firm of the Year – Transactions, Europe, PDI 2023 Awards

Private capital insights

Light trails of cars at night

We help the world’s leading private capital firms succeed in an increasingly dynamic and complex environment.

Here our global team share their insights on the key issues facing funds across the private capital spectrum, informed by our experience on the biggest deals, regulatory challenges and disputes.