Tim Drake specialises in all areas of funds and corporate law, ranging from the setting up of funds, their investments and the realisation of those investments, whether by trade sale, IPO or buy-out. He has a particular focus on secondaries deals, the buying and selling of both fund interests and interests in portfolio companies ('secondary directs'). He has also worked on numerous banking deals, insolvencies and restructurings, both within the UK and cross-border.
Recent transactions include:
- Establishing The UMIP Premier Fund, investing in 'university spin-outs' for MTI Partners
- Sale of a large number of portfolios of secondaries interests, ranging from two or three to over 50 in number and at prices of between US$500,000 to over US$200 million
- Formation of the last two Secondary funds, for Hollyport Capital LLP
- Formation of Piton Capital Venture Fund, investing in early stage on-line businesses
- Recommended cash takeover by a US company of a UK software company traded on AIM
- Leveraged buy-out of a health-care group in Greece and Eastern Europe
Tim trained and qualified at what is now Hogan Lovells (spending seven and a half months in 1992 in the Cayman Islands on the BCCI liquidation and working from 1993 to the end of 1995 in Lovells' New York office) and has worked in private practice also at SJ Berwin, O'Melveny & Myers and Proskauer and in-house at a private equity backed consulting group from 2002 to 2005.
