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Crestview Partners Closes First Continuation Fund
- Client News
- April 1, 2025
Paul, Weiss advised leading private equity firm Crestview Partners on its first continuation fund, which closed with nearly $600 million of commitments. The continuation fund includes two Crestview Partners III, L.P., or Fund III, investments: Venerable and ATC Drivetrain. The transaction was led by Apollo鈥檚 Sponsor and Secondary Solutions business (Apollo S3) with additional investments from funds managed by Hamilton Lane and the Crestview team, among others. As part of the transaction, Crestview offered its Fund III limited partners the opportunity to exercise a full liquidity option, a status-quo rollover option or an option to reinvest to participate in the new capital commitments of the continuation fund.
The Paul, Weiss team was led by partners Ross Oliver and Matthew Jordan and associate Riana Morales, and included executive compensation counsel Jake Glazeski.