NautaDutilh's Capital Markets team recently assisted both A.P. Alternative Assets (the Euronext Amsterdam listed vehicle of Apollo Global Management) and Conversus Capital with the major restructuring of each funds' asset portfolio.
A.P. Alternative Assets announced on 31 October 2012 that it entered into a definitive agreement to contribute substantially all of its investments to one of its subsidiaries in exchange for common shares in that subsidiary. Simultaneously two alternative future tender offer structures were announced. Seven different U.S. law firms were involved in the structuring of this highly complex transaction as well as two firms from Guernsey and the United Kingdom.
NautaDutilh advised A.P. Alternative Assets on matters relating to Euronext compliance, equal treatment of shareholders, market abuse and AFM and Euronext filings.
On 5 November 2012 Conversus Capital (listed on Euronext Amsterdam) announced further details on the sale of certain of its portfolio investments to Harbourvest. Holders of Conversus Capital's units will be given the option to elect to remain in the current fund and receive a cash consideration or receive limited partnership interests in a newly established Harbourvest vehicle. A prospectus in connection with the offering of the limited partnership interests was approved by the AFM on Friday 2 November 2012.
NautaDutilh acts together with Cleary Gottlieb Steen & Hamilton for Conversus, Debevoise & Plimpton and De Brauw Blackstone Westbroek for Harbourvest.
The teams that worked on both transactions were led by Petra Zijp and included Jochem Polderman and Antonia Netiv.