Kirkland & Ellis’ new City funds team has closed its first major instruction since joining from SJ Berwin earlier this year. The US firm has advised on the creation of the Terra Firma Capital Partners III fund, which raised €5.4bn (£3.7bn).
Terra Firma has invested more than €200m (£136m) in the fund. Other notable investors include the private equity division of insurance giant Allianz and the US State of Oregon. Funds partner Richard Watkins led for Kirkland, with support from senior associate Jenny Kapusniak.
