New Mountain Capital Takes Minority Stake in Appleby to Fund Growth

Business Wire··KYUS·Read original
2▲0 ▼0Impact / 5
Summary · why it matters

New Mountain Capital has made a significant minority investment in offshore legal and corporate services platform Appleby to accelerate the firm's growth strategy. New Mountain, a growth-oriented investment firm with approximately $60 billion in assets under management, will take a minority interest in a newly established company in the Cayman Islands that will indirectly hold Appleby Global Group LLC, which operates as a managed service organization for Appleby's law firms and owns the Appleby Global Services entities. Appleby, which has a heritage of more than 125 years, employs more than 500 people and approximately 200 attorneys across 11 offices in 8 jurisdictions. The firm will continue to be led by its existing management team and partners, who will retain majority ownership, and Group Managing Partner Malcolm Moller will take on the title of CEO following completion of the transaction, while the law firm entities will remain owned and controlled by Appleby partners qualified in the relevant jurisdictions. Guggenheim Securities advised Appleby with Ropes & Gray LLP as legal advisor, while Piper Sandler advised New Mountain Capital with Simpson Thacher & Bartlett LLP and Addleshaw Goddard LLP as legal advisors.

Impact on assets 3

Financials▲ · 2 stocks
Piper Sandler Companies
PIPR
± MixedCapitalrelevance

Piper Sandler advised New Mountain Capital on the Appleby minority investment, a passing advisory role.

Aging Population▲ · 1 stocks

Off-coverage companies 6

Appleby Global Group LLCPrivate▲ Positive
Capitalrelevance

Appleby received a significant minority investment from New Mountain Capital to accelerate growth.

New Mountain Capital, L.L.C.Private▲ Positive
Capitalrelevance

New Mountain Capital made a minority investment in Appleby to fund its growth strategy.

Addleshaw Goddard LLPPrivate± Mixed
relevance

Guggenheim SecuritiesPrivate± Mixed
relevance

Ropes & Gray LLPPrivate± Mixed
relevance

Simpson ThacherPrivate± Mixed
relevance

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