Linklaters advises on Portobello Capital's continuation vehicle
Deal News | Nov 21, 2024 | Iberian Lawyer
Linklaters has advised Portobello Capital on a secondary deal involving its portfolio company, BlueSea Hotels, by creating a continuation vehicle. The leading investor in this follow-on vehicle is Partners Group, supported by Neuberger Berman, Mercer, and Florestan. The continuation vehicle will provide necessary capital and time for Portobello to work towards enhancing its hotel portfolio, including increasing average daily rates. Capital raised will be dedicated to capital expenditure (Capex) and potential acquisitions as part of BlueSea's strategic growth plan. Portobello Capital's association with BlueSea Hotels began in 2017, with a goal to support an expansive value creation plan. Since then, BlueSea has seen significant growth, tripling its size. The advisory effort was led by Jos Mara Lpez San Claudio, with assistance from Moiss Benbunan, Alejandro Meca, and Brbara Victoria Gonzlez Gutirrez.
Sectors
- Private Equity
- Hospitality
- Legal Services
Geography
- Spain – Portobello Capital is a Spanish private equity firm, and BlueSea Hotels operates within the region.
Industry
- Private Equity – The article involves Portobello Capital, a private equity firm, engaging in a continuation vehicle for its portfolio company.
- Hospitality – BlueSea Hotels operates in the hospitality industry, providing value-for-money experiences in the hotel sector.
- Legal Services – Linklaters, a multinational law firm, provided advisory services for the creation of Portobello’s continuation vehicle.
Financials
- – The article does not specify the financial amount of the continuation vehicle or the funds raised.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Linklaters | Legal Advisor | Company | A multinational law firm providing legal advice on the continuation vehicle. |
| Portobello Capital | Target | Company | A private equity firm involved in creating a continuation vehicle for BlueSea Hotels. |
| BlueSea Hotels | Investee | Company | A hotel portfolio company receiving continued investment support from Portobello Capital. |
| Partners Group | Lead Investor | Company | The lead investor in the follow-on vehicle for Portobello Capital's continuation project. |
| Neuberger Berman | Investor | Company | An investor participating in the continuation vehicle. |
| Mercer | Investor | Company | An investor participating in the continuation vehicle. |
| Florestan | Investor | Company | An investor participating in the continuation vehicle. |
| Jos Mara Lpez San Claudio | Lead Legal Adviser | Person | Led the Linklaters team in advising on the continuation vehicle. |
| Moiss Benbunan | Support Legal Adviser | Person | Provided support in the advisory process. |
| Alejandro Meca | Support Legal Adviser | Person | Provided support in the advisory process. |
| Brbara Victoria Gonzlez Gutirrez | Support Legal Adviser | Person | Provided support in the advisory process. |