News | Private Equity

Wednesday 5th June 2002

SJ Berwin has advised Barclays Private Equity, the private equity arm of Barclays Capital, on the first closing of its European Fund. The fund raised investor commitments of over €400 million to be invested alongside funding of €545 million from Barclays and €100 million from Parallel Ventures. This means over €1 billion of the targeted €1.2 billion total fundraising has been raised. Final closing is expected at the end of the summer.

Barclays Private Equity - which is one of the leading mid-market private equity providers in the UK and across Europe - has received financial commitments from 16 investors in nine countries including Citigroup Private Equity, funds managed by Morley, funds managed by Standard Life Investments (Private Equity) Limited and NIB Capital Private Equity.

The SJ Berwin team was led by Jonathan Blake, assisted by Duncan Woollard.

Jonathan Blake commented: "We were delighted to act for Barclays Private Equity on this European fund. It is particularly pleasing that outstanding fund managers such as Barclays Private Equity are able to raise substantial sums in what is obviously a more difficult fundraising environment than we have seen in recent years."

Graeme White, Managing Director of Barclays Private Equity said: "We have come with a new fund to investors who have primarily been supporting private equity houses where they have existing relationships. The fact that we have achieved such a successful first close I think demonstrates the strength of our business."

• SJ Berwin is a full-service international legal practice with more than 470 lawyers across its offices in London, Brussels, Frankfurt, Berlin, Munich, Madrid and Paris.
• With a dedicated European private equity team comprising over 150 full-time corporate private equity lawyers together with support from its other departments, SJ Berwin advises clients on the full-range of private equity business, both in connection with the establishment of private equity funds and their associated incentive schemes, and on MBOs, MBIs, public-to-privates and venture capital investments.
• SJ Berwin recently won "Private Equity Law Firm of the Year: Firm and funds work" at the European Venture Capital Journal Awards and "Best Law Firm (fund documentation)" at the PrivateEquityOnline Awards, and was runner up in the category of "Best Law Firm (transactions)".
• SJ Berwin has also recently won the European Venture Capital Journal Award for Private Equity Law Firm of the Year 2000, Law Firm of the Year and Property Team of the Year at The Lawyer Awards 2000, and Competition Team of the Year at the Legal Business Awards 2000.