Westport Capital Partners Raises $1.3 Billion in GP-Led Secondary

Schulte represented Westport Capital Partners II L.P. in a GP-led secondary transaction to provide liquidity to existing investors while simultaneously raising growth capital for a portfolio company through a newly established continuation fund. Together with the continued investment by existing investors who chose not to receive liquidity in the transaction, the continuation fund raised over $1.3 billion, exceeding its original hard cap.

The Schulte team advising Westport was led by investment management partner Joseph A. Smith, special counsel Daniel Daneshrad and tax partner Elie Zolty. The team also included investment management associate Jennifer Carl Brickfield and law clerk Katherine Priester; tax associates Olesia Zakon and Michael Jaroslawicz; and former Schulte lawyer Gabriela Figueras.