Debevoise, Norton Rose secure lead roles on Rockefeller’s Europa stake

Debevoise & Plimpton and Norton Rose have ­landed the plum roles on Rockefeller Group’s acquisition of a 75 per cent stake in Europa Capital.

Mark Lloyd Williams
Mark Lloyd Williams

Norton Rose acted for fund manager Europa, with a multidisciplinary team led by corporate finance partner Mark Lloyd Williams advising the longstanding client. The team also ­featured tax partner John Challoner and regulatory partner Peter Snowdon.

Lloyd Williams has led the Norton Rose relationship with Europa for the past 15 years.

The fund management group has also used Clifford Chance for its investment work.

Debevoise advised Rockefeller on the deal, which marks the US property investor’s first step into the European market.

European private equity and M&A chief Jim Kiernan led on the transaction for the US ­company, working alongside tax partner Richard Ward and funds partner Anthony McWhirter.

Europa currently has more than e2bn (£1.75bn) in equity under management across its six European real estate funds and has invested in excess of e6.5bn in 17 countries since 1995.

The deal with Mitsubishi Estate-owned Rockefeller Group will see the creation of a $20bn (£12.49bn) ­global fund management group. Europa’s five principals will retain a significant minority stake in the ­company and its day-to-day operations will remain unchanged.

Lloyd Williams said the deal would allow his client to expand its scope into new territories.

“It will help build its ­ability to access investors around the world as the reach for investors has become much more global,” added Lloyd Williams. “Europa was relatively small, but what this deal will do is create a platform that will help it to expand hugely.”