King & Wood Mallesons has advised long-standing client, Palamon Capital Partners, on a GP-led secondary transaction, which provided investors in two existing Palamon-managed funds with a liquidity option. The buyers, comprising a group of five institutional investors, acquired interests in the existing funds and made a primary commitment to a new vehicle managed by Palamon.

Warren Allan, International Funds partner at King and Wood Mallesons, said: “We are delighted to have advised Palamon on this successful and innovative transaction. GP-led liquidity offerings are expected to become more prevalent in the European secondaries market, and this transaction demonstrates that it is possible to align interests of buyers, sellers and the GP to achieve a successful outcome”.

King & Wood Mallesons has been at the forefront of the secondaries market since its inception and has advised on many of the largest and most complex secondary transactions.

The King & Wood Mallesons team was led by International Funds partners Ed Hall and Warren Allan, with associates Brendan Gallen, Jordan Hurwitz and Adriana Wild-Taylor and trainee Ben Shem-Tov.