Latham & Watkins Advises Saw Mill Partners on Continuation Fund Formation and Acquisition of Two Related Assets

Saw Mill Capital Partners II, LP (Saw Mill), and funds advised by Neuberger Berman, a private, independent, employee-owned investment manager, have announced the successful closing of Saw Mill Capital CV, LP (Continuation Fund), which simultaneously acquired two related Saw Mill assets, Climate Pros and Industrial Refrigeration Pros. The Continuation Fund provides additional time and capital to further invest in each company's acquisitive growth initiative, while also offering liquidity to existing limited partners. Saw Mill investors were provided a choice to receive liquidity or continue their investment.

Latham & Watkins LLP advised Saw Mill on the formation of Saw Mill Capital CV, LP and acquisitions of Climate Pros and Industrial Refrigeration Pros with an Investment Funds team led by New York partners Beau Brashares and John Kelley, with associates Syed Madani, Shenu Reddy, Autumn Schmidt, and Molly Nelson, and a M&A team led by New York partner Jane Greyf, with associates Jennifer Wong and Anika Amin. Advice was also provided on tax matters by New York partner Gregory Hannibal; on investment funds regulatory matters by Washington, D.C. partner Jamie Lynn Walter, with associates Mike Hart-Slattery and Brian Thompson; and on insurance matters by Los Angeles partner Drew Levin, with associate Hannah Cary.