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Campbell Lutyens advises Spice Private Equity (fka Apen Private Equity) on a secondary portfolio sale of its legacy fund portfolio

CATEGORY: Transactions
DATE: 04 January 2015

APEN Ltd announced today the divestment of its entire “legacy portfolio” for USD 192.0 Mio (CHF 190.0 Mio as of the closing date) to funds managed by Strategic Partners Funds Solutions, the secondary private equity and fund solutions division of Blackstone. The transaction also comprises the transfer of APEN's loan obligations resulting in a full deleveraging of APEN. This allows APEN much sooner than expected to concentrate on the pursuit of its new Emerging Markets focused investment strategy and to adopt a simplified and more transparent corporate structure.

As a result of the transaction, APEN Ltd will change its name to Spice Private Equity Ltd and switch the reporting currency from CHF to USD 

Campbell Lutyens, the leading private equity and private infrastructure adviser, acted as financial advisers to APEN on the transaction.