Akin Deal Recognized as Buyouts’ Secondaries Deal of the Year

A deal in which Akin advised has been named Secondaries Deal of the Year as part of Buyouts’ 24th annual Deal of the Year Awards.

According to Buyouts, the Secondaries Deal of the Year Award recognizes a secondaries deal “that involves the sale of existing LP stakes, GP-led liquidity processes, secondary-led spinouts or some combination of the three.”

In the honored secondaries transaction, valued at $5 billion, Akin represented Apollo S3 in the acquisition of private fund positions from Kaiser Permanente, in partnership with a consortium of private equity firms including Ardian and Blackstone.

The Akin deal team included investment management partners Fadi Samman and Amanda Butler-Jones, investment management associates Alexis Marion and Morgan Hensley and tax associate Tim Higgins.

Fadi was interviewed for the firm’s recognition profile, stating “There were a lot of assets and a lot of value moved in a relatively short period of time. That’s a testament to the focus and commitment to all the parties involved.”

Fadi further said, “Last year the story was of investors trying to solve liquidity issues to free up capital to make new commitments. That was a large piece of the story last year in the secondary market and this deal was one of the first to get that ball rolling and in a large way.”