Deal is one of the largest GP-led secondary transactions of 2020

Boston, January 15, 2021 – Proskauer, a leading international law firm, today announced that it represented Lexington Partners as a lead investor with respect to the closing of one of the largest GP-led secondary transactions of 2020.  The transaction involved the purchase of interests in Audax Private Equity's first GP-led continuation fund, comprised of $1.7 billion in capital commitments, which funded the purchase of portfolio companies from Audax Private Equity Fund IV, a 2012 vintage fund. 

The transaction was comprised of a diverse group of secondary and primary investors.

The Proskauer team included Mike Suppappola, Joe Kasegian, Emily O'Brien, Alex Martin, Nolan Binney (Private Funds), James Lee, Jae Park, Sara Park (M&A), Jim Poindexter, Janicelynn Asamoto Park, Zachary Cloyd and Jeanette Stecker (Tax), John Ingrassia and Jade-Alexandra Fearns (Regulatory).