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Clifford Chance

Clifford Chance
News and awards

News and awards

Clifford Chance is lead legal & tax counsel for the sellers (PGGM & APG) on the sale of the shares in AlpInvest Partners to The Carlyle Group and the AlpInvest management team and on the biggest private equity investment mandate to date in the Netherlands

26 January 2011

Clifford Chance is lead legal & tax counsel for the sellers (PGGM & APG) on the sale of the shares in AlpInvest Partners to The Carlyle Group and the AlpInvest management team and on the biggest private equity investment mandate to date in the Netherlands

Amsterdam, 26 January 2011 - International law firm Clifford Chance was lead legal & tax counsel and special counsel to PGGM on the sale of the shares in AlpInvest Partners to The Carlyle Group and AlpInvest Management. The transaction comprises 100% of the share capital of AlpInvest.

Simultaneously, Clifford Chance negotiated a new multi-year private equity mandate to AlpInvest. Both PGGM and APG will extend their commitment as clients of AlpInvest by granting additional investment mandates totalling €13.5 billion for the period 2011-2015 to AlpInvest's various investment programs and restated their existing mandates totalling €32.3 billion. The transaction, which is subject to regulatory approval, is expected to close in the second quarter of this year.

Over the years Clifford Chance has advised PGGM on a number of land mark deals and is very pleased to work closely together with PGGM internal counsels Michèle Klaassen and Nesbit West, providing integrated Funds, M&A, Tax and Employment  advice on this matter.

The M&A team advising on the sale consisted of Herke van Hulst (lead), Han Teerink and Patrick van de Ven.

The Funds team advising on the investment mandate consisted of Quirine Eenhorst (lead), Manuel Manders and Marierose Kouwenberg.

Michiel Sunderman advised on the tax aspects and Ruth van Andel and Hein van den Hout provided employment advice.