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Simpson Thacher acts for CVC on record-breaking €16bn new fund

Simpson Thacher & Bartlett’s London office has advised CVC Capital Partners on its record-breaking €16bn fundraising. 

The fund, which is CVC’s seventh, will be used for private equity investments in Europe and North America. It is the largest fundraising for a European buyout house.

London-based private investment funds partner Gareth Earl led the team advising CVC on the fundraising. Earl joined the US firm in 2010 from British private equity house Doughty Hanson, making partner in 2012. His clients include CVC, Cinven, Apax, Bridgepoint, Charterhouse, EQT, BC Partners, Actis and Coller Capital.

Offshore law firm Mourant Ozannes acted as Jersey legal counsel.

Simpson Thacher’s London managing partner Gregory Conway stepped down from his role at the end of March after 10 years of leading the practice, and remains a partner at the firm. Private funds partner Jason Glover, who replaced him in the role, is the first non-US managing partner of the London office.

Simpson Thacher made a rare London hire at the end of last year, taking on Freshfields Bruckhaus Deringer partner Ben Spiers to boost its M&A practice. Widely-tipped as a potential successor to heavyweight Adam Signy, Spiers’ practice focuses on the TMT sector.

Spiers was Simpson’s first London lateral appointment since the firm took on high-yield star Gil Strauss from Weil, Gotshal & Manges in 2014.