A&O in Peacock hedge fund coup

Allen & Overy (A&O) has leveraged its role on the Glazer bid by scooping the mandate to advise Och-Ziff and Perry Capital on the first UK leveraged buy-out by hedge funds.

The funds are making a £410m bid for retailer Peacock.

The magic circle firm advised the same two US hedge funds that helped finance Malcolm Glazer’s controversial takeover of Manchester United Football Club earlier this year.

Ashurst and Macfarlanes acted for Peacock and the management buyout team respectively.