Latham & Watkins Advises TJC on US$2.1 Billion Continuation Fund

TJC LP (TJC or the Firm), a middle-market private equity firm investing primarily in North American businesses, has announced the close of its second continuation fund (the Continuation Fund) at US$2.1 billion, which will be an extension of The Resolute Fund III, L.P. (Resolute III) and include an asset jointly owned with The Resolute Fund IV, L.P. (Resolute IV). The Continuation Fund purchased a total of five portfolio companies including assets from Resolute III, a 2013 vintage fund with approximately US$3.2 billion in capital commitments and a portfolio company Resolute III jointly owned with Resolute IV, a 2018 vintage fund with approximately US$3.6 billion in capital commitments.

Latham & Watkins LLP represented TJC in the transaction with an investment funds team led by New York partner Matthew Chase and Chicago partner Matthew Wynne, with associates Benjamin Hoekstra, Bhavin Shah, and Molly Nelson, and a M&A team led by New York partner Jane Greyf and New York counsel Jennifer Wong, with associates Eric Giray and Maria del Pilar (Mapi) Villanueva. Advice was also provided on tax matters by New York partner Gregory Hannibal and New York counsel Lauren Bewley, with associate Shangpu (Nicholas) Sun; on investment funds regulatory matters by Washington, D.C. partner Jamie Lynn Walter, with associates Mike Hart-Slattery and Haley Hohensee; and on insurance matters by Los Angeles partner Drew Levin and San Diego counsel Hannah Cary.