The Race to Co-Invest

MJ Hudson advised Unigestion S.A. on it’s co-investment alongside Duke Street in TeamSport Karting, the UK’s largest indoor go-karting operator.

The Client

Unigestion is a boutique asset management firm headquartered in Switzerland, with an approximate AUM of $29.5 billion across various sectors including private equity. In February 2017, Unigestion acquired Akina with the aim of creating a uniquely qualified specialist in global small and mid-market private equity.

The Brief

Unigestion was seeking to be the sole institutional co-investor in the acquisition of TeamSport Karting lead by Duke Street, investing through Unigestion’s Direct Opportunities 2015 Fund (its EUR 255 million direct private equity fund, backed by established investors in the UK, continental Europe and Asia), to enable TeamSport to continue to strengthen its position in the fragmented UK market, but also look to expand in continental Europe.

How We Helped

MJ Hudson provided advice on the core aspects of this transaction – with the Investment Funds team advising on the terms of the co-investment fund arrangements with Duke Street, whilst the M&A team simultaneously advised on the underlying acquisition of TeamSport below the level of the co-investment fund and the relevant financing aspects of the transaction.

MJ Hudson’s deep experience in alternative assets and expertise in co-investments allowed it to offer a seamless ‘one stop shop’ service to Unigestion across all areas of this transaction in order for it to complete on an accelerated timeframe and on preferred terms.