JohnMacGarty

Partner

London + 44.20.7039.5933

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John MacGarty has more than 15 years of experience advising fund sponsors on a range of investment funds transactions, including fund formations and fund secondaries and co-investment transactions.

John has extensive fund formation experience, working with sponsors in the United Kingdom and globally on the structuring and formation of their fund vehicles, co-investment vehicles, separate managed accounts, carry and co-invest platforms, and on their management and advisory structures. John works with managers across all asset classes and has substantial recent experience working with managers on investment funds with private equity, real estate, infrastructure, credit, and venture capital strategies. He frequently works with first time managers and established managers and has raised funds with aggregate commitments sizes ranging from £40 million to more than €10 billion.

John also works extensively with clients (acting as both managers and investors) on complex secondaries and co-investment transactions. John frequently advises clients on complex GP-led (general partner) and LP-led (limited partner) transactions, including continuation vehicle and tender offer transactions and portfolio acquisitions and disposals, across the private equity, real estate, credit, and infrastructure asset classes. Before focusing on fund transactions, John spent a number of years handling large cap, global private equity buyout transactions, and his mixture of transactional and fund formation experience has prepared him well for the requirements of complex secondaries transactions.

John's recent experience includes fund formation, secondaries, and co-investment transactions for clients such as Pantheon Ventures, True Capital, StepStone, CBRE, Orion, Partners Group, Albion Capital, and Summix.

John was coauthor of the 2019 Chambers & Partners Global Investment Funds guide.

Experience

  • Macquarie acquires 50% of Enel Green Power HellasJones Day represented Macquarie Asset Management, via Macquarie GIG Renewable Energy Fund 2 SCSp, in its acquisition of 50% of Enel Green Power Hellas from Enel Green Power S.p.A. for an enterprise value of approximately €980 million.
  • MassMutual partners with Low Carbon to accelerate transition to renewable energyJones Day advised Massachusetts Mutual Life Insurance Company (MassMutual) on its debt and equity investment in Low Carbon Energy Holdings Limited (“Low Carbon”), a subsidiary of Low Carbon Limited, an established pan-European renewable energy developer and fund manager.
  • AGIC Capital closes $1.2 billion fund for investments in smart industriesJones Day acted as fund formation counsel to AGIC Capital for its $1.2 billion final closing of its second fund, AGIC Fund II L.P., which will be focused on advanced industrial and medical technology investments.
  • True Capital forms True Capital III LPJones Day represented True Capital Ltd in connection with the formation of True Capital III LP, its third closed-ended fund focused on retail and consumer assets in the UK and globally.
  • ThinCats’ institutional investors advised in £160 million investment by Wafra Capital PartnersJones Day advised BAE Systems Pensions Trustees Limited, ESO InvestCo VI S.à r.l. and Black Lion Limited, the existing institutional shareholders of ThinCats, in connection with a £160 million strategic investment by Wafra Capital Partners in ThinCats, a leading alternative finance provider to mid-sized UK SMEs.
  • NW1 sells £50.8 million UK last-mile portfolio to InfraRed fundJones Day advised NW1 Partners in its £50.8 million sale of an eight asset urban logistics portfolio to InfraRed Capital Partners Limited.
  • True Capital Ltd participates in $450 million Series C financing round of ZwiftJones Day advised True Capital Ltd, in connection with its participation in the $450 million Series C financing of Zwift, Inc., an online fitness platform for cyclists and runners.
  • GCA Altium acts as financial advisor to Project Sword Bidco Limited in £90 million acquisition of Catalis PlcJones Day advised GCA Altium as financial advisor to Project Sword Bidco Limited, a vehicle established by private equity firm NorthEdge Capital LLP, in connection with its £90 million acquisition of Catalis Plc, a provider of development, testing, and publishing services for the global video games market.
  • City Financial enters administrationJones Day successfully advised the board of City Financial Investment Company Limited (the "Company") on the Company's entry into administration.
  • DV4 and Oxford Properties form DOORJones Day advised DV4 Ltd (“DV4”), which is advised by Delancey Real Estate Asset Management Ltd, on the sale of DV4's interests in Get Living, the UK’s leading privately backed residential company, to Delancey Oxford Residential (“DOOR”) a new co-investment platform with initial capital commitments of £600 million; the establishment of DOOR, which includes the joint venture between DV4 and Oxford Properties; and on real estate matters related to the London scheme, Elephant Central in Elephant and Castle which is part of the Get Living portfolio.
  • Henley Investment Management establishes and launches its first fund, Henley Secure Income Property Unit TrustJones Day advised Henley Investment Management Limited in connection with the establishment and launch of its first fund, the Henley Secure Income Property Unit Trust.
  • CIS Natural Resources Fund acquires 36.6 percent interest in GRK Bystrinskoye for $275 millionJones Day represented CIS Natural Resources Fund in its $275 million acquisition from MMC Norilsk Nickel of a 36.6 percent interest in GRK Bystrinskoye, a major Russian mining company located in the Eastern Siberia.
  • Jones Lang LaSalle invests in CER Italian LogisticsJones Day advised Jones Lang LaSalle Incorporated in connection with its investment in CER Italian Logistics L.P., a fund that targets opportunistic real estate investments in Italy.
  • Orion Capital Managers has final closing of Orion European Real Estate Fund VJones Day acted as lead counsel to Orion Capital Managers, L.P. in the formation and closing of Orion European Real Estate Fund V, a €1.50 billion fund formed to make equity and equity-related investments in real estate assets, real estate loans, and real estate operating companies in Europe.
  • True Capital Ltd forms True Capital II LPJones Day represented True Capital Ltd in connection with formation of True Capital II LP, a buyout and growth fund of approximately £110 million formed to make equity investments in the retail and consumer sector.
  • Motion Equity Partners acquires Altaïr GroupJones Day represented Motion Equity Partners LLP in connection with its acquisition of Altaïr Group, a manufacturer of cleaning and home care products and household insecticides.
  • Savills Investment Management forms joint venture with China Minsheng Investment Capital to invest in global real estate marketsJones Day advised Savills Investment Management in its joint venture with China Minsheng Investment Capital Co. Ltd, a subsidiary company of China Minsheng Investment Corp., Ltd, to develop and promote a series of funds and investment vehicles to invest in global real estate markets; including a new real estate fund, CMISIM European Investment Fund, with seed capital of up to £30 million (US$50 million) from China Minsheng Investment Capital Co. Ltd.
  • Letterone implements management incentive arrangementsJones Day advised Letterone on the incentive arrangements for senior members of management of Letterone Treasury Services, L1 Energy, and Letterone Technology.
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    February 2019 White Paper

    Sustainability in EU Capital Markets: New Rules for Fund and Asset Managers Ahead

    July 2017 Commentary

    Key Takeaways from the UK Financial Conduct Authority's Review into the Asset Management Market

    August 2016 Jones Day Publications

    The Alternative Investment Fund Managers Directive—2016 Update

    April 2016 Alert

    HM Treasury Responds to Proposed Changes to the Limited Partnerships Regime

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