(New York) – An Akin Gump team advised BlackRock, Inc. in its investment in Zenyth Partners sponsored continuation fund. The continuation fund is composed of both secondary and primary capital commitments, co-led by funds managed by BlackRock and Manulife Investment Management with support from Newbury Partners, which funded the purchase of minority stakes in three portfolio companies (the sale portfolio) from Zenyth Partners LP, a 2018 vintage permanent capital vehicle: the Smilist Management, ReFocus Eye Health and Helping Hands Family.
Zenyth Partner is a healthcare-focused private equity firm focused on consumer-facing and technology-enabled healthcare services. The transaction will provide Zenyth’s evergreen fund with new capital for investment opportunities while raising additional capital in the continuation fund to support the growth of the sale portfolio.
To learn more about the transaction, click here.
The deal team was led by investment management partner Fadi Samman and included corporate partner Timothy Clark, counsel Elizabeth Atkins and associate Alexandra Babin, investment management counsel Adela Coman, tax counsel Stuart Alter and law clerk Tim Higgins.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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